RE: My mate22 May 2024 12:27
Just to help ensure you are using correct numbers Brad:
Total shares in current issue - 1,270,133,251;
Doc shares under ILC - 357,142,856 = 28.118 per cent;
BPOPF shares now - 208,521,092 = 16.417 per cent;
So presently short of 50% - although conversion of their convertible notes would issue approx 400m more shares based on my maths - 160m to the Doc and 240m to BPOPF.
On that approx basis, the %s would change to approx 31% for the Doc and 27.75% for BPOPF = 57.75%.
I am wondering what waivers both parties will have sought / or the various Stock Exchanges will have given so that niether party were required to make a formal offer to acquire minority shareholder stakes.
For once, you raise an interesting point - but unknowingly. 1.670m shares potentially in issue ie fully diluted less approx 1.0 billion owned by Doc / BPOPF. Leaving 670m owned by management and other minorities - assuming the majority shareholders have Zero interest to particularly protect minority shareholders, and assuming there actually is a viable sustainable and successful business opportunity here ahead, they could consider tabling a bid to take out Minority shareholders - at what price I wonder....
Now there is an interesting topic to debate.