Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Bank of Spain gives green light .....Afterpay has received approval from the Bank of Spain in respect of the acquisition by Lanai (AU) 2 Pty Ltd, a wholly owned indirect subsidiary of Block, Inc., (NYSE: SQ) ("Block") (formerly known as Square, Inc.) of Afterpay by way of scheme of arrangement ("Scheme").
Included within today's announcement by Afterpay was confirmation that now that Bank of Spain approval has been received, the Scheme is fully unconditional and will be implemented without the need for further Afterpay shareholder or Court approval in accordance with the implementation timetable set out in Afterpay's announcement issued today.
Shareholders are reminded that the sale by ThinkSmart Europe Limited (Thinksmart's wholly owned subsidiary) of its 10% holding in Clearpay Finance Limited ("Clearpay") in exchange for 1,650,000 shares in Afterpay remains subject to the approval of ThinkSmart shareholders at the General Meeting which is to be held virtually by videoconference at 4.30pm (AWST) and 8.30am (GMT) on Friday 14 January 2022.
No one is guessing, they have clearly stated their intentions in the circular.
“It is expected that in due course the Directors will seek to return value to Shareholders once a form of return of value has been determined by the Board, mindful of the Company’s existing operating businesses and future cash requirements to meet running costs”.
“The Company intends to return any surplus cash, whether from the sale of the Consideration Shares or from its operating business to shareholders as quickly and as tax efficiently as possible”.
The whole point of this deal is that the Directors see “significant potential for future value accretion” considering the recent erosion in the share price of Block and Afterpay over the past few months.
They too have significant skin in the game and are clearly committed to the future of Block. Why would they sell at the lows when fintech has been hit so hard?
Obviously, there are no guarantees, but to do so would be completely illogical. All we have to go off is what they have communicated to us and rationale.
If they wanted a quick exit, they would’ve taken the independent external valuation. They aren’t trying to purposely screw over shareholders…
You are guessing big time tsl board are going to hold block shares for some time to gain the value you want. There is nothing in any documents to say they won’t sell quickly. I have written to thinksmart twice and they did not answer the question twice.
Im still happy with the deal. On the basis that it has been possible to buy sub 50p. I still see a good return (maybe even the same 60% when folks expected £1.00 to turn in to £1.60), at todays prices - that only needs to be circa 80p. I think Block will grow and increase profits, BTC should be ok, even if it stabilises under $50k. Stability being the key word. I think there are enough smart people at Block to navigate what ever happens to Crypto and emerge a leader in the Fintech space.
Prior to all this, the TSL board have done a great job, Jack Dorsey also a proven success. If you look forward rather than backwards then seems like a good deal for investors today at 50p. If the past is too hard to forget then probably time to sell up and leave us to it.
"In the absence of news, expect Block's share price to track Bitcoin. It's going to be a bumpy ride, but it could be a very rewarding one. Don't be caught off guard if there's more volatility."
https://www.nasdaq.com/articles/why-did-shares-of-block-drop-22.5-in-december
Article from October, discussing percentage ownership of BTC.
"A staggering 85% of bitcoin wealth is held in wallets that hold more than 10BTC" - These would be LTH / Sticky hands.
"When it comes to how many people own bitcoin that’s worth more than $100, that figure currently stands at 16.4 million people. Just 7.1 million people own BTC with a value of above $1,000, decreasing to 2.4 million who have stashed bitcoin worth over $10,000".
https://currency.com/who-has-the-most-bitcoin
PS, Blocks BTC holding was bought at around 32k from memory, so still well in profit on it, maybe that is a key level in all of this.
Batterseafish, would you mind elaborating on the square accounts / TSL 4M holding. I am not following.
Consider the rational for the 7.12.21 RNS. The price drop that day imho was the reaction of Think Smart to the note in Square accounts of the Think Smart holding. From memory about 4 million £.
Perhaps the board realised the Independant valuation of its holding was not guaranteed.
P.S. Voting Against. Board needs another go for a better deal
Is litigation and a 14p share price a bit too pessimistic? The put/call option will still be in place. The issue with this deal is that the Board has not communicated the rationale for agreeing to the deal now. What risk/uncertainty are they trying to avoid that is value destructive? Also, just as importantly, the Board have admitted they have no idea what they will do with the APT/Block shares which is really worrying. I don’t mind the conversion, but need more strategic direction from the board.
Your platform should help you vote.
This could recover in time if Nasdaq and Block bounce. But given the rocketing 10 year now at 1.7% most likely this will slump in the short to medium term. If deal voted down expect litigation and return to 14p.
Does anyone know how we place our vote as I can’t find any info on tsl website. No instructions
I will vote against. Everything in their reports upped the share price value. this deal destroyed sp which is saying it’s no good!!
No issue with ST assessing the share price and comparing it to 72p...
But he should hold his hands up after telling everyone to buy at 90p/100p. Also the directors knew of no reason for the share drop 1 week before telling everyone they would be recommending an all share takeover that had value around the same place they knew of no reason it should be at?
That much stinks and ST should acknowledge as much.
Well think its time thinksmart shareholders group together and vote against this sale , its clear that value has been destroyed buy this announcement and therefore not sound.
As Simon Thompson well that's another story has a habit of keep recommending even when the near high of the shares , not done well following and do not anymore.
Anyway vote against , we have the upper hand in value and not shares that are on the brink of collapsing.
Bricks and mortar always not a empty bag that is full of nothing but worth x.
valuation has been agreed Battersafish....look like you were a bit eager with your post...two articles out today including IC and GCI both stating clear value gap now price agreed and it's all about the forward look on Square/Block.....risk to the upside based on actual figures , not emotions ....
Oh, apologies, I see St has updated. Hmm……..re analyst predictions re Block share price. Also remember the entry in Square accounts re their valuation of the Think Smart holding. If Block exchange blocked I would not take the put call ration valuation as gospel. Dispute re valuation could end up in litigation. Will bounce tomorrow perhaps on St article.
Will be Surprised if this rises this year. Block on the chopping board. St updates house builders today with rather unexciting update. Complete silence on his over optimistic predictions for Think Smart. Previously stated at around 100p valuation End Play to the Upside! But reality has been a crash through the downside.
indeed, as discussed over past few days, sum of the parts is far greater than current levels/sp and a forward look can see a decent rise in value , taking an average of forecasts we could see an sp closer to 90p+ at some point...
a lot to like, :-)
SOP = 67.5p with Block @ $143. Block currently rebounding.
I really believe TSL will exit Block at a much higher price. Happy to wait.
https://www.investorschronicle.co.uk/ideas/2022/01/06/unravelling-thinksmart-s-share-price-decline/
Simon Thompson has posted regarding Thinksmart and outlines the situation as a buying opportunity.
Before this turns into bashing Simon Thompson for posting a 'strong buy' recommendation in November, remember the following:
1) He doesn't have a crystal ball. The deal we were 'expecting' was never guaranteed.
2) He has been covering Thinksmart since 13.5p if you didn't take profit, that is on you. If you bought in too high or with too much size that is on you.
Simon providing a summary of the SP decline, says a buying opportunity.
https://www.investorschronicle.co.uk/ideas/2022/01/06/unravelling-thinksmart-s-share-price-decline/
GLA
Block is green. Repeat Block is green. LOL
'Cant stop till you reach the top!'
https://www.google.com/finance/quote/SQ:NYSE
:-)
Greedy Me. GLA.
Kind of hoping the sale will now not go ahead. Would rather just wait for the dust to settle.
When the mkt turns nasty, it can really turn nasty. Investors look at stocks hitting lows and think they cannot go lower....but they do. Boo has collapsed in price and those that thought £2 was a steal are nearly 50 % down. BOTB was called a superstar stock .....it has gone from well over £30 to just £6 in just months. ARB was the most traded stock of last year according to many brokers with huge daily volume but now looks ouch as losses pile up for many. Meanwhile TSL hits new 52 week lows...