RE: how does this work30 Apr 2016 22:50
My understanding is the directors when they wish to take it private would put an offer for the free float shares. The offer price is unknown at this stage. There is an AGM on the 5th may, i expect an offer price to be declared the same day. If the offer price is not good enough shareholders would not bother to sell their shares and would technically own the shares in the delisted company (by then it would be a private company).
In the reports it appears it cost 4-5million a year to have Ruspetro listed in the premium segment of lse. with roughly 135 million free float shares. A rough calculation of various assets of RPO should give the fair value at which Ruspetro board should buy back shares, fundamentally.