BWN has been on my watch list for a while but i only look at it once every week or so. Looked at the market depth today and noticed the following:
Has anyone noticed the buyer sitting at the head of the buy queue at present ............ buy order of almost 65,000,000 shares @ 14c (approx $9.1 Million)
There is only just under 82 million BWN shares in total on offer.
Can anyone comment on this and speculate who this buyer might be and what they are trying to achieve?
I guess it might disappear before trading opens on Monday. However, if it stays the only thing i can see it doing is putting a floor in the share price.
bhushan steel is trying to taken them over for 14 cents per share. is what that order is.
the recent share volume says we no better that the company is worth more.
the majority of shareholder did vote for a new board and to kick the current one out. on june 22nd
bhushan called them illegal , why because there were delivered by a 3rd party was there argument. they also said even if they counted it would not matter, sound suspicious? does to me sound like they actually lost! why was there a need to call them invalid if if the outcome of the results was what bhushan wanted anyway?
the vast majority of shareholders are extremely unhappy about it . and have been complaining to asx and asx and other departments, see links in previous posts.
there is also a egm meeting scheduled for september 8th . but THIS IS A LISITING RULE BREACH
the 249d documents were lodged with bowen on june 23 .
the listing rules say the meeting MUST BE HELD NO LATER THAN 2 MONTHS AFTER THE DOCUMENT WAS LODGED. that date been AUGUST 23RD . IS WHEN THE MEETING SHOULD BE HELD. OR BEEN ON A WEEKEND A WEEKDAY EARLIER THAN THAT DATE. not sept 8th
for that reason why would any shareholder sell to bhushan? especially before the meeting !!!
SHAREHOLDERS HAVE THE RIGHT, THEY OWN A SHARE OF THE COMPANY
TO VOTE TO KICK THE ENTIRE BOARD OF AND REPLACE IT WITH A NEW ONE.