Mc Mining Share Price (MCM)

All the best chaps...

Last day to trade today, so cheers everyone and all the very best for the future.

Dear Jan

Thank you for your email and raising your concerns with ASIC.

ASIC values the information we receive from the public, and reports of misconduct such as yours assist us in working to build confidence in the integrity of the capital markets.

ASIC notes Goldway Capital Investment Limited (Goldway) released a Fifth Supplementary Bidder’s Statement on 15 April 2024 (Supplementary Bidder’s Statement). Part 5 of the Supplementary Bidder’s Statement sets out the reasons why Goldway required relief from ASIC to extend the Offer Period.

In particular, the Supplementary Bidder’s Statement explains Goldway acquired a relevant interest of 83.67% in MC Mining Limited prior to the original close of the offer period, which was 7:00pm (Sydney time) / 10:00am (South Africa time) on Friday 5 April 2023. However, due to market practice in South Africa whereby share acceptances are only processed once a week on a Friday, Goldway was not able to receive notification from the South African registry, for acceptances received by the South African registry until after the original close time (which arrived at 11:20pm (Melbourne time) on Friday, 5 April 2024).

In summary, due to the time lag explained above, Goldway were not able to verify before the time the offer closed that they had or hadn’t in fact received the relevant acceptances in order to meet the outstanding condition of the take over offer. Accordingly, the ASIC relief granted allowed Goldway to determine whether the 50.1% minimum acceptance condition had been satisfied before the original close time.

We hope this further disclosure by Goldway clarifies questions you may have had regarding the take over extension.

Kind regards

Sean Ferguson

Corporate Finance

Markets Group

Jolly, as the offer is now unconditional I fear it makes sense to accept. Risk is you're left holding an unquoted stock that is impossible to sell. if they do have a compulsory buy out then it might be some time before you see your money.

waste of time and money. david brown would be turning in his grave.

I will be waiting it out until the last minute. It seems the company have no intention of fighting or objecting.

So for the minnows like us, it seems pointless to try and fight off the sharks. Time to move on having taken

a huge loss.