4FMeaning of threshold value

4F Meaning of threshold value

(1) The threshold value for a lodgement under paragraph 661B(1)(b) or 662B(1)(b) of the Corporations Act relating to a takeover bid is the amount worked out using the following formula: Start formula The value, at lodgement, of the consideration payable, per security, under the terms that apply under section 661C or 662C of the Corporations Act (disregarding any election under paragraph 661C(2)(a) or subsection 662C(1)) times The number of securities in the bid class at lodgement, including any securities in which the bidder and its associates already have a relevant interest end formula (2) If 2 or more takeover bids, by the same bidder, for securities in the same target occur together, work out the threshold value for a lodgement under paragraph 661B(1)(b) or 662B(1)(b) of the Corporations Act relating to any of those bids by: (a) applying the formula in subregulation (1) of this regulation to work out an amount in respect of each of those bids (including any bid in relation to which a notice is not lodged under paragraph 661B(1)(b) or 662B(1)(b) of the Corporations Act); and (b) adding up the amounts worked out under paragraph (a) of this subregulation.