Whether it is a reverse takeover or a normal ( forward :confused: ) takeover once you get to owning 90%+ of the company you have an obligation with an option.
The option, which is usual taken during a normal takeover, is to compulsorily acquire the remaining shares at the takeover price.
The obligation, which is what this recent takeover notice is, is that the dominant owner will buy at the takeover price any shares that the minority shareholders decide to sell.
The intend outcome is that this 'takeover' fails and the company has a number of shareholders.
I note a current bid of $1.10 and a current sell of $1.50. Let us see where it actually trades, if it ever does.
https://www.thehindu.com/sci-tech/en...0/24TH-LEOPARD