Simrose, the proposed merger in the UK was to be via a scheme of arrangment, to be voted on by shareholders it was not technically a takeover under UK rules. The threshold level, ie the shareholding level beyond which you have to make a bid under the UK rules (Blue Book ) is 30%.
What is important is that no bid from Rio or anyone else is going anywhere without first securing Kalahari/Dattels approval , ie dont expect a bid to just be lobbed in , that is not going to happen. Rio or anyone else will have to sit down and negotiate and the takevoer terms agreed in the absence of a higher offer (which could of course eventuate eg Cameco_
The threshold for takeovers in AUstralia is 20%. Therefore Kalahari/Polo/ Dattels etc can now only buy 3% more every six months under the takeover rules or they have to make a full bid for the remaining shares in EXT they dont own at a price no lower then any price they paid in the last 3 months .
THis is assuming that they would all be treated as associated parties "acting in concert" which it seems pretty clear that they are.
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Last
1.1¢ |
Change
0.002(22.2%) |
Mkt cap ! $16.22M |
Open | High | Low | Value | Volume |
1.0¢ | 1.1¢ | 1.0¢ | $132.1K | 12.59M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 8000000 | 1.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.1¢ | 11187842 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 8000000 | 0.010 |
8 | 6314109 | 0.009 |
13 | 6082697 | 0.008 |
8 | 1981577 | 0.007 |
4 | 1685609 | 0.006 |
Price($) | Vol. | No. |
---|---|---|
0.011 | 11187842 | 6 |
0.012 | 5988361 | 5 |
0.013 | 4803715 | 5 |
0.014 | 1071428 | 2 |
0.015 | 1324179 | 2 |
Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
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EXT (ASX) Chart |