TR - I am pretty sure its 6 months from memory.(an old...

TR - I am pretty sure its 6 months from memory.(an old memory).
Now - where did I put my car keys?

i suspect they have to wait 6 mths also before they can pruchase any shares under the "creep rule", whic is max of 3% every 6 mths.

SXY have lost.
ACN is a goner.

DO we know if SXY have paid 29c yet?

WHAT EVERYONE NEEDS TO REMEMBER, IS THAT DLS CANNOT OFFER ONE PRICE TO ONE SHAREHOLDER, AND THEN A DIFFERENT PRICE TO ANOTHER !

So this is important, because DLS has already won control of ACN. DLS are moving now to control the Board.

So the big question now is, what do the Board of ACN do, and what then does SXY do?

Now SXY will be in it to get control of some dirt! ( I know, thats obvious).
But as I mentioned above, DLS cannot do a side deal with SXY, and say, for example, if you accept our bid, we will sell XYZ permit to you.
You cannot pay one person one price under a takeover, then pay another person a different price.
I am certain that is illegal.

I guess what will have to happen, is that there is some sort of deal done at a later stage.

SXY will have its sights set on a particular asset, and will want to do a deal at some stage.

My bet is that, if the dirt is so good, that the Board (and SXY) will wait them out!

If that happens, then the DLS will have put a "floor" under the price of ACN.

Wait 6mths - 12 mths and DLS will be back with another bid.

They will probably try to dilute the s/h with a CR though to enable drilling programs to go ahead.

But if BOTH DLS and SXY are willing to pay 28.5c, then you guys cannot really go much wrong!

cheers