Why 75% working out20 Aug 2021 14:37
I know that 75% triggers the AIM rule 15 as below but it may be 80/90% being sold , we have all been working out numbers on the 75% but it could easily be more as that is only the level when the rule kicks in.
So if it goes for 3Bn every 5% above the 75% is an extra 150Mln
I know this might sound greedy but this is a once in a lifetime chance for most true investors
Fundamental changes of business
15. Any disposal by an AIM company which, when aggregated with any other disposal(s) over
the previous twelve months, exceeds 75% in any of the class tests, is deemed to be a
disposal resulting in a fundamental change of business and must be:
— conditional on the consent of its shareholders being given in general meeting;
— notified without delay disclosing the information specified by Schedule Four and
insofar as it is with a related party, the additional information required by rule 13;
and
— accompanied by the publication of a circular containing details of the disposal and
any proposed change in business together with the information specified above and
convening the general meeting.
I normally end of with GLTA but we do not need luck we just need patience :)