Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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I struggle to understand how these are being traded, the circumstances are so odd I don't know how they could follow the sector trends, but I suppose it's a possibility.
drift as expected but the miners generally have had a terrible start to week.
I'm expecting 300p to 350p in a mix of cash and shares, not sure kaz board can recommend they go for if it Is less as its on their Balance sheet at 375p.
im 70-30 of that view but will wait for the c280p offer and sell quickly. Those who feel that the Big 3 are worried about future investor confidence should they do it are a little deluded. Someone like Branson would care. These wont care one jot.
I'm 100% of the opinion that this will go private. Does anyone expect this not to happen?
Transfer of shares in Kazakhmys PLC from JSC National Welfare Fund "Samruk-Kazyna" to the State Property and Privatisation Committee of the Ministry of Finance of the Republic of Kazakhstan The Government of the Republic of Kazakhstan (the "Government") hereby announces that the Joint Stock Company National Welfare Fund "Samruk-Kazyna" (the "Fund"), which is 100% owned by the Government, has transferred for nil consideration 58,876,793 shares (11.24%*) in Kazakhmys PLC ("Kazakhmys") to the State Property and Privatisation Committee of the Ministry of Finance of the Republic Kazakhstan (the "Committee"). Following this transfer, the Committee is now the owner of 139,162,843 shares (26.57%*) in Kazakhmys. The Government, Mr Chodiev, Mr Ibragimov and Mr Machkevitch made an indicative proposal on 16 May 2013 to the Independent Committee of the Board of Eurasian Natural Resources Corporation PLC ("ENRC") (the "Proposal"). The Proposal envisaged that the 139,162,843 shares (26.57%*) in Kazakhmys held by the Government would be used as consideration in any offer to acquire the entire issued and to be issued share capital of ENRC (other than the ENRC shares held by the Government, Mr Chodiev, Mr Ibragimov and Mr Machkevitch). The purpose of the transfer from the Fund to the Committee is to simplify the Government's holding structure by reducing the number of parties involved and thereby expedite the process of preparing for an offer for ENRC. * percentage figures indicate percentage of total voting rights attached to shares held.
By the look of it.
Nice to see this is holding steady while the rest of the market bombs!
I think the issue is not the country, or even the region, but who is at the top of the company, and the corporate governance. I have this continuing issue (and you are most likely getting fed up of hearing it from me), that you have to look inside these companies to see how they are governed, and not just look at the business they are in, or the country. There have been some fine investments and companies in this region, and I still think that when properly assessed (and discounted) that some companies make for a good opportunity. But you should not go running in blindly, and most certainly not risk too large a part of your portfolio. I myself believe that the scandals are only just starting to come out, and that much more is to be learned for ENRC and KAZ. But that is a personal opinion, and not based on fact. Good luck!
24th 5pm
What is the date and time for the deadline now?
I don't think any sensible foreign person or company will go and invest in Kazakhstan No offence to any one from there. I don't mean the people but just how they conduct business entirely based on how Enrc and Kaz are panning out.
i wouldnt be supprised if glencore came in for both kaz and enrc at this level
And so will KAZ, which is why it is unlikely that KAZ would accept a low offer. The media (and not only them) have always been speculating that KAZ was the kingmaker and secretly behind the deal, but in reality it isn't so much the case. There is a possibility that KAZ may hit 300p or just under in the very near future. If it bounces back it is a double bottom in which case it could well shoot up back to around 360-380 relatively quickly. If it doesn't recover, I'll be interested to see what the trio will do to make the bid appealing to everyone....
With the initial offer of 175 cash and .23 Kaz shares at a price of 370 this meant we would get 260.So even if the cash value goes up to 200 and then add .23 Kaz shares at the current price of 313 we would still only get 272.So only 12p actually better off.So the more Kaz falls the less we will get.
Ah, it didn't get passed, slight win I guess at these levels.
This isn't good is it... 9 - Special Resolution: Authority to purchase own ordinary shares. 567,568,574 60.07 377,279,363 39.93 944,847,937 806,374
Apparently all over in 30 minutes with almost nothing said, obligations met and scarpered. Didn't expect anything more, but all point to the takeover going through.
11am - doubt anything will be announced but hopefully some hints may come out about likely outcome...
What time is the AGM? Is this when the bid will be annouced?
I'm not sure I could trust myself not to throw my shoes at them.
Has taken a hammering today.. Encouraging to see ENRC with string resistance.