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IGOâs recently proposed Joint Venture with Western Areas 9.8% shareholder Wyloo appears to Odey to breach Section 623 of The Australia Corporations Act 2001 which prohibits a bidder, during a takeover period, from offering a benefit to a shareholder if the benefit is likely to induce the shareholder to accept an offer and the benefit is not offered to all shareholders.
To cure the breach of Section 623, Odey believes that all Western Areas shareholders should be offered compensation equall...
>>> Read more: Odey Asset Management calls on IGO Ltd to either raise the Western Areas takeover deal value to match the uplift offered, through a Joint Venture participation, to 9.8% shareholder Wyloo Metals, or to disband the Joint Venture which appears to Odey to be in breach of The Australia Corporations Act 2001
To cure the breach of Section 623, Odey believes that all Western Areas shareholders should be offered compensation equall...
>>> Read more: Odey Asset Management calls on IGO Ltd to either raise the Western Areas takeover deal value to match the uplift offered, through a Joint Venture participation, to 9.8% shareholder Wyloo Metals, or to disband the Joint Venture which appears to Odey to be in breach of The Australia Corporations Act 2001
