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Evening TFE. Well I want and need them, the small problem being that I can't pay for them. Lol.
Sounds like Sooz will nip in for a double scoop and prize them away from your not so clammy hands. She is on a gathering mission.
:-)
The thing is Suzy, do you want them or do you need them?
For your guidance - In economics, a need is something needed to survive while a want is something that people desire to have, that they may, or may not, be able to obtain.
Good point that Sooz. The dilution level mentioned in the Offer info would then not be true. Yes, so it can only be extra shares generated from those qualifying holders who don't take up the Offer, or who only take part of their entitlement.
Thanks Sooz. x
That's all good then. Not greedy. Will make a nice nest egg if it 5 bags.
Oops, I meant ...satisfactorily...
Yes, the 3 for 8 is guaranteed for those holding on that qualifying date.
Thank you FarEnd, I hope they come to me.
You're right Eric, mine are up for grabs if anybody wants or needs them.
Otherwise dilution would be more than 27%.
I have assumed our Options are guaranteed but I doubt the Company could issue any more shares.
No probs Eric. Just grateful for confirmation my 3 for 8 is guaranteed.
Cheers 3cb
The 3 for 8 Offer cannot be restricted. Shareholders who held on 16 November qualify for that. We can all take up the full Offer, the whole of our entitlement, if we wish to do so. As for the excess shares, I'm not certain whether they will only be available if qualifying shareholders do not take up their full entitlement, therefore not claiming those shares and thus releasing them for other shareholders to apply for, or, supposing everyone takes up his or her full entitlement (doubtful though), then I don't know if Kurt will have a pot of extra shares already waiting to distribute pro-rata, should each qualifying holder take up his or her full entitlement amount, enabling applicaton for any excess.
I hope we don't raise too much more at 3.16p. Lol.
I haven't satisfactory answered your entire question, but it got me thinking, so thanks for that 3card.
Hello again...can't say that I do understand it..it says in the Prospectus that the of the results of the SDR Issue would be announced today, latest date for payment without preferential rights 11 Dec...but if it was oversubscribed there wouldn't be any would there. And it's underwritten up to 80% by the Guarantor, so what does 'up to' mean?
ERIC. Hear what you say about 3.16p but at least it was an internal placing. I would have been well wazzed off with a city placing at those prices.
Just seeking clarification to confirm my own thoughts. As opposed to an IPO, where the amount you get depends on whether the offer is oversubcribed , I assume the 3 for 8 to existing shareholders will not be restricted.
But also could someone please clarify, whether or not additional shares will be made available to cover excess applications and thus raise more funds here.
That's how I read it Andy. Seems about right. At least it was oversubscribed, a good sign. We needed that.
AIM, difficult to imagine this ever reaching 70p again, due to the amount of shares we will shortly have in total issue. A nice thought of course, but is it realistic? Dunno. Kurt has managed to quadruple our shares in issue since he took over, so he needs to deliver the goods for us, and I hope it will be next year. My thoughts are that he's let Baylan and co off the hook this year, not really battered the door down enough. We remain without the concession licence, no decision, the Government having done nothing, in spite of supposedly prioritising our application, and after our February meeting re possible legal action, Kurt has not pushed enough since, he's allowed himself to be given the brush off. Now we are having one of the largest fundraises ever, if not the largest, at a terrible sp.
Another awesome year, lol, well, maybe in terms of the Kosovo project, but who knows much about it? We have a high tech hot heat map and Kurt getting excited, ouch, burny burny, but the grades of samples so far per amount sampled seem somewhat underwhelming, and not even a ripple in the market for our Kosovo news, or Finland for that matter, and we still have the mystery of Vardar, the unlisted unaccountable drain on our finances.
Still, it could be worse.
Howl.
Yep, same rights, just wondered over the amount of shares that would be alloted, looks like people asked for 64 millions shares but will be getting 17 mill.
I hope Ed is enjoying his time away from this.
I also wonder how ED44 is getting on, I miss his contributions
Andy, won't all the new SDRs issued have the same rights? I'm not sure but it seems to mean that the 17 million or so difference you mention are just the SDRs that were not the SDRs of qualifying holders with subscription rights or entitlements for those SDRs. (The 17 million pared down from the 64 million or so mentioned).
I can't say well done to Kurt, as the to55er has raised all of this money at 3.16p. We know that the sp was well over 6p recently, for an entire month or thereabouts, so he isn't my favourite at the moment, giving this huge discount based on a lower sp, just because he had an acute attack of the Nordics at the time. Mass dilution at a very low sp in reality. He had to include us in the Offer, because the price struck was so appalling.
But you butter him up if you like. Lol. X
Sooz, the situation you are concerned about would mean absolutely everyone who qualified for the BEM Offer on AIM each taking up the entirety of their Offer and therefore leaving no extra shares available whatsoever for additional share requests. Hard to imagine everyone doing that really isn't it?
We already know TFE isn't taking up the Offer at all. Surely he's not the only one. Lol.
There surely will be additional shares floating about to be had.
Just saying. In my humble opinion of course.
So is this correct?
* 153,172,548 (the total amount of new SDRs issued)
* 136,009,107 (the amount of new SDRs via subscription rights)
Therefore, 17,163,441 new SDRs will be issued via without preferential rights?
Just couldn't resist it. :-)
Well, that's good news for the Company. But it probably means I'll have to amend my order for Extras and opt for Plan B, cancel the Extras and apply for my certificate Options.