GREY:BFDRF - Post by User
Comment by
nobsplson Jan 13, 2018 2:05pm
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Post# 27349970
RE:Thinking Out loud……thinking out side of the box…
RE:Thinking Out loud……thinking out side of the box…I am not sure the exemption used to the takeover rules would allow these private sales to come from Insiders of the company like Zhaung who is a director. That would be a related party transaction and would be one hell of a twist on an already outrageous loop hole in the take-over rules. Insiders have 5 days to file SEDI and the transaction was Jan 10, I don't expect these could come from Insiders however, they have until Monday if it were that bizarre.
Maybe Jens sold his block, we likely never get to know.
I can only hope that this private agreement exemption is a one time deal. They are allowed to purchase from fewer than 5 sellers and that has now happened. If that exemption can be used multiple times it circumvents all of the take-over rules.
I therefore assume that if OSK acquires one more BFD share they would be forced to provide formal take-over documentation and follow all of the other rules.
Anyone an expert on NI 62-104 Take-Over Bids and Issuer Bids?????