Hi archie88Are you a long-term holder of GNM?I have found out a...

Hi archie88

Are you a long-term holder of GNM?

I have found out a bit more about 'creeping acquisitions'
Apparently once a holder owns 90% of a company, compulsory acquisition can be made; I guess we have a history there how GNM was created. To recap:

The 90% holder must commission an independent expert's report.

If 10% of the outstanding security holders in a class (by value) object, then the acquisition cannot proceed without the approval of the court.

The 90% holder must pay the legal costs incurred by objectors who oppose the compulsory acquisition, provided that the objectors have not acted improperly, vexatiously or otherwise unreasonably.

So it seems to me, it does not look too good for retail shareholders at this time in the market - we will probably only be given market value if a take-over proceeds.

Any opinions?

Cheers

Taurisk