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Desmond I get what you are saying and I am sure many others do but you are wasting your time arguing with Rubey. All you will get is abuse as his clearly shown in the last remark.
Deltic are cash rich at about the equivalent to their M-cap, the RBD take over offer is like a cash raise at current share price level
Incredible. I'm not wasting my time talking maths with someone who has the mental capacity of a 4 year old. I take it you don't make much profit Dessy.
Night all.
If there is currently 6.7bn shares in issue and you add about 2.2bn or so more shares how much have existing holders been diluted by? Clown
Rubey, we are potentially giving away 12m quid in exchange for shares in RBD which is effectively a form of dilution. God I do despair sometimes reading the tripe on here sometimes.
“Completion of the Possible Offer at the Exchange Ratio would result in Reabold shareholders holding approximately 76.2 per cent. and Deltic shareholders holding approximately 23.8 per cent. of the combined group's issued share capital.”
Desmond, I will add the offer is for £12.34m. DELT had around £11m cash at the end of April. It's hardly 25% dilutive, is it ffs.
Desmond, the share price will increase in due course.
So you think I've invested spare change or a bit of pocket money? You need to grow some balls, or invest in FTSE100.
Rubey, perhaps for investors/traders who have spare change or a bit of pocket money invested it might be exciting to see a potential blue sky expo drill in 2021/2022. For those with sizeable investments awaiting the sale and/or special divi from WN this would be an extremely dilutive (around 25%) event at nearly historical low prices while we are allegedly on the cusp of huge success at WN.
"Following initial conversations with a number of Deltic's largest shareholders"
Looks like the big shareholders want it to happen, could already be a done deal
Well, if the brakes have been holding this back, tomorrow they will be lifted!
Should think Deltic will gap up tomorrow, It's now in play, they might get another bid from someone else
Disappointed, why Levi. Either the SP goes down like they tried last time and RNS came and we all pile in again for top ups or the SP doesn't react or the SP goes up.
Yeah Rubey, it might sit better with the smaller Deltic shareholders, don't think they would be happy not being be able to buy RBD shares, although I think they will be allowed to sell
Looks like there might be a few disappointed folk in the morning.
Hence why our sp is stupidly low compared to UJO ttaa. I did wonder and posted along these lines when the RNS popped up, fwiw.
Krull, good point, if it could work on the same terms.
Could we name change and reverse into Deltic, so as to keep their listing? Would open up trading again with all brokers!
I am guessing here but I would suspect when a vote occurs it has to look far more attractive than it does with our current SP.
Why should it gap up? We will see soon enough I suppose.
I would not be at all surprised if the MM's gap this up tomorrow pre open I don't know city games but I wouldn't be surprised.
My gut tells me they've got the majority of shareholders behind them already. Cannacord have been getting out for a while. Maybe this has changed the balance?
I found it interesting that Graham Swindells was a Director in Public Company M&A at Ernst & Young. He must know exactly what's coming, and S&S will know he knows. Mind you, they'd have lawyers dealing with this already I expect.
ursuant to Rule 2.6(a) of the Code, by not later than 5.00 p.m. on 12 August 2020 (the "relevant deadline"), to either announce a firm intention to make an offer for Deltic, under Rule 2.7 of the Code, or announce that it does not intend to make an offer, unless the Panel on Takeovers and Mergers (the "Panel") has consented to an extension of the relevant deadline.
RBD must have the support of deltic major shareholders to have gone public, guessing deltic major shareholders fed up with glacial rate of progress, and prefer RBD management to push things along, like someone said here earlier, soon see if RBD starts climbing tomorrow morning.
ttaa, I am very confident they know what they've got at West Newton. Very confident. If it's as big as we hope, Reabold are in an impressive position. 56% of the licence and 59% of Rathlin gives them the authority to be in control. If this goes through it could be very good for both RBD and DELT shareholders.
We initiated the RNS, do you feel they have lined the Delt board up for a pants down we take the prize deal?
Reabold reserves the right to introduce other forms and/or vary the form of the proposed consideration. Reabold also reserves the right to make an offer at any time on less favourable terms, under the following circumstances:
a) with the agreement and recommendation of the Deltic Board; and/or
b) to the extent that Deltic declares, makes or pays any dividend or distribution or other payment to its shareholders; and/or
c) if a third party announces a possible or firm intention to make an offer for Deltic on terms less favourable than the value implied by the Exchange Ratio; and/or
d) Deltic announces a whitewash transaction pursuant to the Code.
their cash