24-11-2020
IIRC the Concert Party has an agreement that is occasionally renewed when it comes up for expiry. Back in 2015 it was renewed, but with a change and that was that members of the concert party were no longer bound to vote their shares as one body when it came to certain matters, like an offer.
Regarding any takeover, why would anyone be interested? All they would be doing is buying a bunch of assets and liquidating them to get a return. That return would equate to the discount to net realisable value and why would any shareholder, me included, agree to that rather than have current management do it with no discount?
Which is why the sp trades at such a large discount - the market believes there is no realistic prospect of any M&A activity.
GLA.