Bampster13 Jun 2015 07:41
Under Rule 9 of the Takeover Code, any person who acquires an interest (as defined in the Takeover Code) in shares which, taken together with shares in which he is already interested and in which persons acting in concert with him are interested, carry 30 per cent. or more of the voting rights of a company which is subject to the Takeover Code, is normally required to make a general offer to all the remaining shareholders to acquire their shares.
Had a feeling this was the case. Grey area cleared up and me thinks all is good; though I never like consolidation, always leads to dilution. Long term the RTO will be great going forward, especially if they do come good with DL's thought on divi's by the year end