Tri-star Resources Takeover Rumours (TSTR)

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Tri-star Resources Takeover Forum Posts

03-12-2020
Does anyone know what the 12-month rule in the Takeover Code means - does it mean that an offeror wanting to buy the company has to pay the highest price *the offeror* has paid in the last 12 months, or that *anyone* has paid in the last 12 months? Thanks.
02-12-2020
Interesting yes. As the company said that the Takeover Code will continue to apply after delisting, that takeover scenario could still apply. Odey would need 75% of the shares to vote for a takeover I believe is that correct? And 90% to force any holdouts to sell. I wonder if he's aiming to do that, and prey on smaller investors worried about holding an unlisted share. Then he can 'steal' the upside to an eventual fair-value sale to the majority partners at 50p+. But in any case I would imagine that any Odey takeover price would still be substantially above 4p, to ensure a smooth process?
Fine yes, seems logical. But I wonder why Odey isn't buying back an equivalent amount on his own account at these low levels. I suppose that as he has (well!) over 29%, he can't buy any more without being forced to make a bid for the company as a whole under the Takeover Code. But in that case, why doesn't he make a bid? He could take the other 32% of TSTR at probably 6p or 7p, certainly no more than 10p, it would be small beer for him.
18-09-2020
The company silence is deafening especially with the takeover rumour flying about.
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