OTCPK:ICPVF - Post by User
Comment by
Quintessential1on Jun 11, 2021 3:23pm
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Post# 33373671
RE:RE:How does it all shake out?
RE:RE:How does it all shake out?But they can (actually have to) accept an unlimited amount of tendered shares.
So if they bought 5% on the open market and an equal amount of people tendered their shares they could easily be in control of 29-30% of all common shares.
Even if nobody tendered their shares they could still be in control of 24-25% thats almost half or more required to vote the PPL merger down depending on the percentage required to approve 66 or 50).
Albatross wrote: I'm fairly certain they are limited to only being able to purchase and extra 5% after their take-over offer. They can also make tender side offers with up to 5 large shareholders of the company but only in excess of 10% of market value or something like that...
So no, they can't just keep buying shares on the market at this time, they are somewhat restricted.