RE: Omi10 Jan 2024 21:05
LW
I've taken another quick scan at KAV as noticed a few saying they have raised 6m
I might be missing something here, but from what I can see, they have actually only raised the 'stage 1' £1.4m and stage 2 has still a few bits to complete.
The one bit that I've also not seen notification of the whitewash i.e rule 9 of the takeover code.
If this rule 9 isn't set aside then basically, it will allow purebond to either
a) back out of the stage 2
Or
They would be in the box seats to either make a bid for the whole company and kick both the BoD and retail PI's into touch as they would be able to trigger the automatic bid process once over 30% equity holders.
As I say, I've only briefly 'scanned' over it, but i couldn't see that rule 9 being agreed to be set aside has been announced yet?
If purebond did then want to make an offer for the full remaining shares, it would make sense for them to hold fire until the summer as at that point the average shareprice over the last 12 months would have been below 1p and they could table an offer on that basis and force a takeover through for less than a penny.
Just a few things to consider unless rule 9 has been waived and I've missed it?