ASX interests in Australian public companies.1 Nov 2019 11:43
The key prohibition in the Corporations Act for acquiring
interests in Australian public companies is that a person
must not acquire a ‘relevant interest’ in issued voting
shares in a company if the transaction will result, subject
to certain exceptions, in that person’s relevant interest
in the voting power in the company either:
• increasing from below 20% to above 20%; or
• where their voting power is above 20% and less
than 90% increasing.
The prohibition applies whether or not the acquirer
intends to make a takeover bid.
But there are certain exceptions to the 20% prohibition
rule that apply where the person acquires voting power
by way of:
• making a takeover bid;
• members scheme of arrangement;
• the target’s security holders approving the acquisition
by a resolution passed at a general meeting;
• creeping acquisitions of 3% every six months from
a starting position above 19.9%;
• pro rata rights issues or in certain underwriting
scenarios; or
• certain exempted downstream acquisitions.
file:///C:/Users/User/Downloads/Takeover-guide-Australia-2018.pdf
Now with EMH being on AIM with different rules I am not sure.. KC would know about AUS rules of course and im also sure hed know about AIM ones too, My question would be , Can you over ride rules if ALL share holders agree? This looks like it CAN be, as has been said . I guess it comes down to an offer thats suitable to all shareholder then its all vote yes and vote NO if not, but is it as simple as that ? very complicated or is it very simple?