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Intchains Group Ltd V.ICG


Primary Symbol: ICG

Intchains Group Ltd is a provider of integrated solutions consisting of computing application specific integrated circuit (ASIC) chip products for blockchain applications and a corporate holder of cryptocurrencies based on Ether (ETH). The Company utilizes a fabless business model and specializes in the front-end and back-end of Integrated circuit (IC) design, the two components of the IC product development chain. The Company’s products include computing ASIC chip products consisting of ASIC chips, computing equipment incorporating ASIC chips, ancillary software and hardware, the products are mainly used in the blockchain industry. The Company had built a technology platform named Xihe. The Company has developed hardware models and several systems under the Xihe Platform, including a factory production test system, an after-sales data system, a computing server system and a batch management system.


NDAQ:ICG - Post by User

Comment by goldhunter11on May 22, 2016 5:19pm
174 Views
Post# 24896576

RE:RE:RE:RE:RE:RE:RE:RE:RE:OT See everyone here @ $1.00 !

RE:RE:RE:RE:RE:RE:RE:RE:RE:OT See everyone here @ $1.00 !Hi tomgranite,
According to this, from Torys.com, page 23 (Google "acceptance requiremnet for takeover, Torys", a long pdf will pop out)

"Second Steps in Canada
When a bidder obtains at least 90% of the outstanding shares of a target company
under a bid, provincial corporate law statutes generally confer a compulsory
acquisition right in favour of the bidder to acquire the balance of the securities. In
calculating the 90% threshold, securities held by the bidder at the time of making
the bid or acquired in the open market during the bid must be excluded.
No
shareholder approval is required for a compulsory acquisition and, as a result, it
can be completed quickly and efficiently.

If the statutory compulsory acquisition procedure referred to above is not
available because the bidder achieved less than a 90% tender to the bid, the
bidder will instead be able to effect a transaction that squeezes out the remaining
minority shareholders (at the same price as was offered under the bid) as long
as the bidder (i) owns at least 66 M% of the outstanding shares after the bid;
(ii) acquired through the formal bid a majority of the shares that it did not
own beforehand; and (iii) satisfies the additional requirements of the business
combination rules under Multilateral Instrument 61-101."

The top portion has something similar to what you said in your post. There are other discussions on how a suitor can get the othe 10% (dissident shareholders who refuse to tender).
GH
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