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10:45
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Originally posted by BenMcG:
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Ending the offer is RG’s last ditch attempt at trying to reach 90% and compulsory acquisition. If RG fails then the 90% ownership rule for compulsory acquisition is no longer relevant. As Richard has mentioned previously RG will have to wait about 6 months before making any new offer. There is also a period during which RG won’t be allowed to buy any more shares. With any new offer RG will now have to acquire something like 75% of all remaining shares that he doesn’t already own to achieve compulsory acquisition. This means that with any new offer RG will have to approach Manipur and User123 to find out what price they will accept
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Well when the offer lapses, the only thing RG has to do is secure Manipurs stake, at his earliest allowable date to take the company 100%, which is 6 months later. So that is very simple in one way as he only needs to negotiate with one party/person, they hold pretty much all the cards in this as I see it, if they can negotiate a price that is satisfactory for them, hopefully we will all get that offer.
(20min delay)