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There are essentially two stages to the takeover. Firstly, shareholders have to vote in favour. Outcome known on Thursday. At the same time regulatory approvals by country authorities are needed along with certain other preconditions being fulfilled for the bid to go through. This is running alongside the voting procedure and there will be a court hearing after the court meeting (this Thursday) to assess if all the preconditions are met. If the vote goes against Shanta the bid falls away. If the vote approves the bid things move onto the second stage which is satisfying all the preconditions to put before the court hearing in order to finalise the court process and so the bid.
The news is simply that they now have Kenyan approval but are still waiting on Tanzanian regulatory approval. I would have thought that is simply a matter of time.
It is all on the vote.
If It is true, why there was trades below 14.85 in today market sesion?
It makes no sense.
Shanta Gold Ltd - East Africa-focused gold producer - Says that the Competition Authority of Kenya has approved its acquisition by Saturn Resources Ltd. Completion of the buy remains subject to the receipt of regulatory approvals from the Tanzanian Fair Competition Commission, the Tanzanian Mining Commission and the Cabinet Secretary for Mining, Blue Economy and Maritime Affairs in Kenya, and the court sanctioning the scheme at a hearing. Shanta Gold expects it to become effective in the first half of this year.
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Just Read on the the "Shanta news".
What does It mean?
Wait until the takeover falls out of bed, that's when this will go. If the takeover goes through, you get your money back.
As close to risk free as buying T bills.
Whilst we wait for the result just wanted to thank some of the posters here. I bought Serabi, Thor and Kefi after reading all about the daylight robbery that is occurring at Shanta. Serabi have held for a few weeks and already 9% up, the other two only in last few days and they are already in positive territory. Great tips and obviously some early money coming into junior miners.
Completely underhanded release.
Even the way these management goons worded it was to deceive shareholders to believe a peripheral Tanzania competition approval was somehow endorsement/approval of their derisory takeover heist. ??????
They’re sooo desperate to steal our shares it’s obvious. No wonder given the gold price continues to rocket & Shanta is probably spewing out gobs & gobs of cash here!!
From the returns I have seen, there is no chance of the deal going through despite the sabre rattling. Thursday will be very interesting.
You’re assuming several funds bought in with an all or nothing view of the bid. I’d suggest if they are acting independently of , which they should be, then their motive is to maximise their financial gain regardless of the outcome of the proposed takeover. The risks having been weighed, in an environment where all gold producers are rising in response to improving margins and coupled with Shanta’s operational and financial outlook, there’s little reason for those funds to dispose of stock below the opportunistic 15p offer, much less so in the 11-12p range. The only persons selling as evident by posts appearing here and on iii are those fearful of the opportunity cost of holding, the risk of missing out on potential gains elsewhere in the event the bid is acceptable. If gold futures continue to push higher and through $2,300 this week it only strengthens the case for funds to buy more gold miner stock, including Shanta once the bid has been rejected
But , personally i think the TO will happen ... hopefully in 2 days its over
No its not because several funds bought because the offer ... they will sell the shares in the event the takeover is not happening...
Talk of this falling to 11-12p on knock back of 15p hostile bid is frankly ridiculous. The price of gold is up to record highs and ‘well run’ (operationally speaking) listed miners are seeing large share price gains. In the event Bidco get knocked back they aren’t going to dump stock below the price they were offering.
Why would the sp dip with gold at these levels ?
more likely to spring towards 18p
Think it would be foolhardy to sell at this late stage, ..........
if the vote does not go through, yes I'd agree the SP may dip slightly, but we may well get a sensible bid from other miners whole recognise the true worth of SHG, and will not try to follow the current shenanigans of some trying to "get it on the cheap".
Hold tight, I say,
Hi
Shares website puts the FTSE 100 up to 8000 down to Oil majors and gold miners
https://www.sharesmagazine.co.uk/news/shares/blue-chip-ftse-100-tops-8000-again-after-easter-break-boosted-by-oil-majors-and-gold-miners
So WTF are SHG playing at, The whole thing stinks but who could find out where it is being manipulated - is it just insider dealing or Patels offering a bonus to select few?
Sadly this is just the latest "bad taste" from my investing in the AIM market
This selling is logical .. longest date for closing of this transaction is Okt24 (some people are not willing to wait) ...worst case the current offer will not be closed (news release said its the last offer ..no further raise) ... in the event the votes failes a lot of shares will hit the market and the SP should fall back to 11-12 pence .. thats the reason for the discount...
Why? Because if people sell up at the last moment before the vote their votes will be omitted from the Thursday count.
Hence why a seemingly inconsequential RNS like today's is pumped out. All designed to confuse and discourage
Please everybody stay invested until Thursday if you can - you can always sell once your vote is counted
Hail Caesar!
Agree!!!!!!
I checked this morning and found that I could but at 14.28p. This is a 4% discount to the offer price. If the offer goes through and it takes 3 months to get paid out, the shares are offering a 17% annualised return. I therefore suspect that the deal is far from certain.
I also own PAF which from 20th December 2033 has gone up by over 37% on no news apart from the gold price. This is way better than the Shanta performance over the offer period. Just goes to show that 14.85p is daylight robbery.
Sold up this morning (only 39,100 shares each for myself and my brother) for a small £500 odd profit (as the difference in profit, of a few hundred quid, is negligible between today and the 15p T/O price, as yes I do think the crooked barstewards are going to 'squeak' this through! 😏).
Needed the funds to take part in a share offer (with a deadline of today at 11.00am otherwise I would have waited!) so as to reduce my average in that company from £2.55 to 96p (as currently underwater over there by £72.5K!) in the hopes of breaking even!
Whether it's the right thing to do only time will tell, but I believe the risk/reward is better (but then with my track record in investing WTFDIK!!!!????)
Wishing you all the best, hopefully I'm wrong and the T/O attempt will fail (but what then!?)
Hope you all get to see fair value (especially the LTHs!).
Good luck!
MB
Everything written on the pre text of success, you’d expect that. i understand votes from the first one count? so they’ve either achieved more votes with the extra and they know or they’ll have to go again. i doubt many private, retail investors have accepted why would they with gold increasing. one way or another they want this over the line as gov approvals come through
Also when you factor in fridays and sunday nights gold rally. The fact this has decreased in price gives me hope we could win this, although i could be severely disappointed come thursday!
The fact its a touch down even after positive news towards stealing rhe company surely means sentiment is its very close and possibly may not pass.
"A shareholder meeting to vote on the offer is scheduled for 4 April."
WILL IT BE RIGGED?
No they do not. God alone knows what deal they have made to feather their own nests? There has to be more to it than their disgusting sell out?
"Shanta is pleased to announce" - pleased! They don't care about us.