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The 3 parties involved currently own 63%. Think they need 75% to accept a vote. I would think they'd struggle to get the remaining 12% they need if it was a lowball offer considering most of it is held by institutions. (Not legal or investment advice, DYOR etc.)

Thanks for the response IRC, much appreciated. Looks to be a very attractive yield. I'm not sure if there is a limit on the number of capital reductions they can do but seems like a good work around at least in the short term.

Can any of the current holders let me know whether the previous capital reduction was subject to a withholding tax or not? Did you get the whole 1.5 pence per share in the distribution earlier this year? (I would be intending to hold within an ISA). Any help would be much appreciated.

Leverage seems very reasonable in my opinion. Debt was around 13% of invested capital, around 0.5x EBITDA (as at the last balance sheet I've seen on 31/03/24). They are project loans/terms loans with local banks as per the notes.

40% cash dividend refers to the % of the par value for each common share. Par value of each share is 10 Taka, hence 4 Taka is a 40% cash dividend. (Not to be confused with a 40% dividend payout).

No timeline has been specified as far as I can tell. The lengthy silence has clearly got some investors worried. I suppose there is a reasonable chance that the FTC might have something to say given Keysight is a US company, Spirent make 57% of their revenue in the US and the FTC seem to have something to say on a lot of recent mergers/acquisitions.

That would be true if it was a cash offer but this is a stock offer. 1.44 shares of BDEV for every share of RDW. So you'll only get £7.63 per share if the BDEV price is ~£5.30 when you sell. The value is tied to the share price of BDEV going forward (which is down ~7% this morning on the announcement).

Hard to say for sure but don't think its that much of a big deal. For reference, the co-founders are still the current Chairman and Vice Chairman (The VP is also an MP and an advisor to the Prime minister) and both hold around 9 million shares each so very much aligned with the shareholders. In comparison to the now former managing director who had 14,657 shares at last time of reporting.