RE: reverse takeover?13 Feb 2018 15:54
ulti, current shareholders are in complete control.... extract from today�s RNS...
As the Proposed Acquisition would constitute a reverse takeover under the AIM Rules, then should the Proposed Acquisition proceed the approval of shareholders of the Company in a general meeting will be required. As such, a further announcement with full details of the Proposed Acquisition would be issued at the appropriate time once binding contracts are entered into and an admission document published and sent to shareholders with a notice of general meeting.
So if the fundraising placing price or any other factor is NOT to our liking we can vote against it, if the BOD want this to go ahead (and I assume they do) then the deal must treat current shareholders well or we will vote against it. I think our holdings will double in value, as will the holdings of the BOD.