Unless share price moves above 27c...the chance for delist is very very high!!!! If you have been tracking TW.....prior to the announcement, there is already programmed buying at around 19c-20c level. Who bought all those shares?!!!!!!
I am no expert on this but just to share with PJ an example of China Angel. Today it announced it has achieved 96% acceptance for its takeover offer.
Last day of trading is tomorrow. It has been 3 months since Nov 15 when it announced the delisting offer. Along the way, it had achieved shareholder approval for this.
I believe Time Watch will have to call for a EGM to get shareholder approval - it is assured since the Offeror already owns more than the 75% level required. The question is, can Offeror (ie, Mr Tung) achieve 90% in order to effect compulsory acquisition? The remaining shareholders seem to be unwilling to sell out at 26.5 cents.
