Can someone explain to me how 10% can block any takeover - It can only block any forced acquisition of the remaining shares after you reach 90% of the equity which with 10.1% you will never achieve.
Anyone can come in and acquire 50% and 1 share and own the company they could introduce assets and force Ruralco to follow a rights issue or maybe even have to acquire shares on open market to maintain their block. as I understand it 25.1% is needed to stop someone selling the assets of the business so its a substantial hurdle to that but not a block either.
Ruralco's position IMO is in no-mans land and hence why the real hurdle is 19.9%. I think that being at 10.1% is largely irrelevant as I dont any entrant will want to acquire everything given the hybrids.
yeah right...thats gota be crap, page-3
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Last
$9.24 |
Change
0.010(0.11%) |
Mkt cap ! $1.460B | |||
| Open | High | Low | Value | Volume |
| $9.26 | $9.29 | $9.17 | $2.372M | 257.2K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1227 | $9.22 |
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| Price($) | Vol. | No. |
|---|---|---|
| $9.27 | 1388 | 1 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| ELD (ASX) Chart |