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"Current share price 4.3p, expect this to go up on Monday."
The market disagrees at the moment.
Are you confident the acquirer will complete the deal? The falling share price suggests doubt
The offer means, GRIT are essentially getting £4,277,026 in their pocket, this is for shares in AAM and all liabilities in Anglo African Minerals (AAM)
TOTAL
US$5.200,000 = £4,277,026
For shares in AAM
US$3,300,000 = £2,714,266
For liabilities in AAM
US$1,900,000 = £1,562,760
Total shares in GRIT
41,964,512
This would mean the offer in AAM alone will give a NAV of
£4,277,026 / 41,964,512 = 10.2p
GRIT WILL THEN HAVE CASH OF £2,714,266 AND WITH NO LIABILITIES IN AAM.
WITH THIS MUCH CASH THEY WILL NOT NEED TO RAISE ANY FUNDS, BESIDES THEY NEED APPROVAL FROM MAJOR SHAREHOLDERS BEFORE THEY CAN INVEST THE CASH.
CASH ALONE OF £2,714,266 WOULD MEAN SHARE PRICE OF GRIT SHOULD NOT BE LOWER THAN 6.5p
£2,714,266 / 41,964,512 = £0.0646.
Current share price 4.3p, expect this to go up on Monday.
I'd recommend anyone thinking this could reverse into a meat free company should check out #anic on twitter, or ANIC here, as there is some great research out there, especially on market growth.
Just for the benefit of the newbies, this sector is what the brokers were chatting about for GRIT outside of the AGM yesterday. Speculation? Maybe. But to name any sector at all, let alone one of the fastest growing is very interesting.
But definitely DYOR on this, massive pinch of salt etc.
Just got in, a small investment, spent the morning analysing the potential for capitalising the holdings and reversing into a meat free company start up. After looking at the prices of beyond meat etc seems like a decent bet, particularly if shareholders have the right to decide the future of the approx 10p cash left over when everything is sold. Should be an exciting ride with lots of, hopefully pleasant, surprises as they moniterise the company. It's nice to have a few K in a company that entices me to check the LSE's biggest risers/fallers board. GLA holders
They are effectively just selling some shares at around the market rate right? Sounds fairly reasonable to me, compared to some of the convoluted "waiting for payment" shares you see around where it takes forever. The plus side of becoming a shell when you have investments that are share based assets
could do but i'm sceptical
Could do 400% today
Huge news this. Well done guys 10p on it's way.
It may take a while, but this will be going over 10p. Look at mno, tla, bould, all looking to rto and all well over cash. This could in theory shoot to 30/40p
6p ask
Dodger777
it was this fool....
https://twitter.com/aimidiottrader/status/1167337181796536322?s=17
EezyMunny
this is the great share for you stay in
Seriously who was the idiot who bought 36,676 share then sold 20 minutes later losing more than half their money ?
You need to step back till you know what you are doing..ridiculous
The "buyer" appears to be Balkans based and has no mining interests AFAICS.
I'd bet this all comes to nothing but who knows?
Interestingly, despite two of the new bod coming from a mining background, the talk at the agm was of an alternative meat investment. Which for those who don't know is one of the fastest growing sectors right now.
This will be trading well above cash by then, well over 10p
Dont be daft junior. You can't buy!
Pump and dump
The Company announces that yesterday afternoon it entered into irrevocable undertakings with Makar Navis d.o.o. ("MN") in connection with the offer by MN to acquire the entire issued share capital of AAM at US$0.03 per share and the entirety of the convertible loan notes issued by AAM, and to discharge all of the liabilities of AAM owed to the Company ("Debts").
During the period commencing on the date of the irrevocable undertakings and ending 4 months thereafter, the Company has, inter alia, irrevocably undertaken to accept the above offer and not deal with the shares in AAM held by the Company and the Debts.
If the above offer goes unconditional, the Company will receive an aggregate of c. US$5.2 million from MN and AAM (equivalent to approximately 10.4p per ordinary share, based on the current issued share capital of the Company and prevailing exchange rates). This aggregate consideration will comprise, c. US$3.3 million for the AAM shares and at least US$1.9 million for the Debt.
I think there might be a maths sell off today
My buy not showing
6.75p opening
Why has the share price fallen so dramatically in the last year?
here is the rns https://www.investegate.co.uk/global-resources-inv/rns/result-of-agm--board-changes--disposal-and-update/201908300700046292K/
Anything under 5 and you’ll be laughing