RE: Next week20 Jul 2019 11:01
No the 12 month rule is the highest price paid buy the party taking over, so if X wants to buy us and they have so far only paid 40p maximum then they don’t have to offer more than that, that’s not to say an offer of 40p would have to be accepted.
I held FOOT during there recent takeover so I know this is the correct interpretation of the rule.