The Board has tried several delaying tactics, but the emergence of Ascendant ramps up the pressure on the Board to conduct a transparent sale process and address shareholder concerns.
Boomeranged on Thu, 9 Nov 2023 14:34
The Recco consortium has bumped its non-binding offer to US$26.50 per share, 1.9% higher than Ascendent’s offer. Recco notes that “shareholders holding 46% of the shares” now demand a special meeting. If the 46% figure meets the record date requirement, the court dispute around Ace Lead Profits’ shareholding (6.68% of shares) should not matter for the special meeting request.
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