Originally Posted by
blackcap
A friend of mine posted what he thinks will be the MO going forward for OGOG. His thoughts follow:
"OG&G have always had the option to buy 5% of the shares on market and once they get to 75% they be able to pass any special resolution unless it is takeover by them. My thinking once they have 75% then really it is private, and minority will be even less powerless.
If any of the big projects are a goer, then NZO would need to stump up serious money and I doubt that normal retail investors left in NZO would have the pockets to do so.
Hence 75% vote threshold would allow them to underwrite any share issue and increase their holdings in both numbers and % of all shares by taking up any shortfall thus could get to 90% by default. I have seen this happen in few OZ listed entities recently."
Would this be a realistic option for OGOG and if so what will they have to pay on market to get to 75%. I am thinking 80 cents would probably do it.