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My (researched) understanding:-
Assets cannot be sold during an FSP, hence FSP has to be shut down.
'Substantially all' as a technical M&A term means that the remaining business has insufficient ability to continue to trade in the primary activity. Roughly 'everything apart from the kitchen sink'. It is used to ensure that any legacy or on-going issues can't come out of the woodwork to affect the purchaser of the assets. Thereby IMO full sale in a wrapper that suits the purchaser. Time will tell.
Ok calamari
Then why not say that rather than “several non bidding offers we want to progress to binding”
If too low you don’t report that if you wanted it or profess to
Binding?! You would reject?
So funny
Someone else said a while back about emotion
I agree
I say how I see it , some are emotionally attached to this
As for my business I’m selling single handed , I don’t employ ubs , dla for millions and get nothing from it ?
I have a lot tied up in this so no de damper , just realistic about how things work , please tell me it’s not strange to get several interested parties in 2019 but no offers??
Please explain how we have got down to one “possible” deal?
I’m no ramper or de ramper I’m a normal genuine investor not convinced about what has gone in since Xmas that’s all and questioning it
It’s true, calamari has no *****.
Calamari is a flipping spanner
calamari
The selling of a business is quite different to the selling of a house, it is obvious you are talking about a situation that you know nothing about, and has nothing to do with good or bad sentiment.
PS It is clear from your posting that you do not regard the BOD's as competent and that a deal will happen.
Aspen
Calamari, sorry mate that’s a rhetorical question and isn’t an answer anyone on here can give. Unless EUA aren’t bound by the rules as laid down by the takeover panel!!!
ATB, Pete
calamari
The difference being a sale of a BUSINESS and not a house sale.
Aspen
Could the last RNS simply be saying..
A price was agreed for everything but couldn't agree one for the JV assets.
BOD say fine, take 90% of the company now and we will sit on the JV untill you need it and then charge you 10x what were asking now.
Buyer now looking down the back of the sofa for some more money.
I'm hoping we will still get a full sale :)
Dore, perhaps we will have to wait, not a problem for me. I honestly think that we are quite close to the end now though, otherwise why the statements in the last RNS?
ATB, Pete
Not at all calamari, now we have the Rosgeo JV, sell the Assets, keep EUA as a company and proceed for Rosgeo under EUA in whatever form it takes after the asset sale.
IMO anyways
It could be an asset sale now, instead of shares, due to the preference of the buyer (s). If they're paying enough I don't mind which route :)
GLA
Calamari, my own take on it is that I believe they had got to stale mate in the FSP and they’ve ended it in order to up the anti to get bidders to focus on whomever the so called preferred bidder is. Once these companies see that EUA are only talking to one company they know they have to up their bids or lose out completely. Only my opinion but it’s as good as anyone else’s. if I’m wrong I’m happy with that, I don’t mind what they do as long as the bod are working as they say to maximise shareholder value.
ATB, Pete
It's like actually being in the film "One Flew Over The Cuckoo's Nest" on here, actual madness LOL.
Seasick
How can you possibly compare the sale of EUA with your business, where are you coming from. Clearly frustration from not being able to sell your own business, ask yourself why is this.
Aspen
"I own a business too it’s been for sale for 2 years , I have had interest, shown my books , but no binding offers as yet"
And I'm going to go out on a limb and assume your business doesn't involve several million ounces of PGMs ? But you're calling EUA out for not getting a deal done yet..?
Got NT to buy last few mins on HL but can sell 28.5 ......
Seasick , I would worry about why your own business is not selling , and leave the board here to sell this top asset, which they are doing .
Goal post completely changed with the Rosgeo jv and for the BOD to put out the RNS they did, it all seems in order.
But like you said, make up your own mind
GLA TGU
Seasick,
You are saying make your own mind up, yet you're whole post is pushing the rhetoric that we shouldn't believe what we've been told.
Have you not read the recent RNS?
We've made a decision to end the FSP, for a specific reason.
'Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce that a proposal has been received for the acquisition of certain assets of the Company, the conclusion of the strategic review and Formal Sale Process ("FSP") and an update on its operations.'
'The Board has decided to focus on this potential asset sale.'
'Shareholders should note that one of the potential transactions proposed is one to which AIM Rule 15 (the fundamental disposal rule) would likely apply. Accordingly, a circular would be published by the Company and the transaction would be conditional on the consent of the Company's shareholders being given in a general meeting.'
'The Board will continue to explore value creating options for the Company. Eurasia's current advisers will be advising on these value creating options.'
I honestly can't deal with some of you clowns sometimes, this is why I post less and less on the EUA BB, there's some great people here but some of the posts I read just irritate me to beyond a reasonable limit.
UBS are on a no win no fee basis...so unless they get a deal over the line all their hard work and cost will amount to nothing....I am sure DLA are being paid.
I think the bod have played a blinder in delaying the sale in order to maximise shareholder value (the bod own millions of shares so are on course for a massive payday on the same basis - i.e. get a deal over the line).
We will see who is right seasick....all based on what the BOD have told us so far since Xmas.
Please all
Can I point out some things
Jan had several non binding offers we are trying to get binding so assume they were good offers? None came
Now we have we have a credible ? But hope to progress?
All you guys talking about full sale , divi etc
None of this May happen based on what’s happened since Xmas
I got shot down for
Saying I’m
Sorry it doesn’t take 5 months for non binding to binding and sadly I was right
Still a lot of hope here , but a little anxious now
Market clearly not impressed either? 42p last year with nothing? Been under 30 all year now?
The rampers will have you believe 3 quid sale, 1 quid divi
De rampers will say it will be under 10p
Make your own mind up , but people like dla ubs are getting rich for bringing nothing yet in terms of an offer for a year!
Re the bod need to be a bit clearer now as out of fsp and assume no nda now as we are all hanging and guessing more than ever
It’s all murky waters for sailing until some meat in the bone
I own a business too it’s been for sale for 2 years , I have had interest, shown my books , but no binding offers as yet
As we have had none but everyone says people are desperate for what we have I wonder why
GLA