Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Update from broker
"There is no longer a dark blue icon next to your holdings as this was set to the original deadline of noon on 3 April 2024. We are aware of the extension, however the voting facility has not been uploaded into CREST, the UK settlement system. Once this has been set up by CREST we will contact clients without delay, outlining details of how they can accept the offer should they wish to do so"
I guess if you accept the offer now you get your cash back early than if you just waited for them to buy your shares at a later date
Weird isn’t it. 2 months to accept the deal. Need an extension as 11th hour. Get one despite IBC being against it. Then everyone crumbles. Smells. That’s all.
You get the same price sir
There is no option for me to accept the offer on my broker website (HL). Will we still receive the same offer amount once delisted?.
The message sent through my broker states "If the offer is successful and Goldway Capital gains control of 90% of MC Mining shares they will buy all remaining shares on the same terms as the offer".
They have acceptance of 83.67% so they could offer us a lower offer right?
No point selling at 7.5 in open market
So are you included in the group that will be waiting grant?
Just a waiting game now to get your money. Hopefully it’s not months and months
Would like to say I wish them all the best.
But I don't.
It is a AIM share in SA, so always open to this type of shenanigans.
Goldway must have approached shareholders with large amounts of shares to either join them or alternatively they offered them more money, enough to get to the required percentage of shares they needed.
I think its board members giving them the shares. seems corruption at its finest and i hold zero hope of this being stopped now.
I'm now concerned more about how long its going to take to get my money back when the take over happens which no one seems to be able to answer
They have somehow managed to manipulate 64 038 608 shares from gullible shareholders. They only need 8 915 843 more to effect the takeover.
V. as at the date of this Notice, Goldway's voting power in MCM is 80.28%.
Hi granth81 where did you get the news of the 80%?
They are everywhere grant
Now at 80%. Board members must be in on this as there is no way they could of got that many shares that quickly. No moron would give there shares up this cheap.
I hold 200 000 they are not getting mine either. Everyone just say NO!
Goldway Capital Investment Ltd said on Thursday it has been allowed to extend the date by two weeks for its offer to shareholders of MC Mining Ltd.
Goldway, a consortium including MC Mining's largest shareholders Senosi Group Investment Holdings and Dendocept, has offered 16 Australian cents per share, or approximately 8.28 pence. Goldway first launched its takeover bid for MC Mining in February.
On Thursday, Goldway said the Australian Securities and Investments Commission had extended the close of the offer from Friday to April 19.
In Sydney, MC Mining shares fell 3.2% to AUD0.15 on Thursday. Shares also declined 4.2% to 7.28 pence on Thursday in London, but they rose 3.8% to ZAR1.91 each in Johannesburg.
MC Mining on Wednesday reiterated that its shareholders should reject the Goldway offer, saying it undervalues it. "The IBC confirms and reiterates its unanimous recommendation that Shareholders DO NOT ACCEPT the offer," it said, referring to its independent board committee.
Goldway said on Thursday it sought the further extension to allow sufficient time to allow MC Mining shareholders, who have not yet accepted the offer, the opportunity to do so.
As long as investors say no they wont hit the threshold. 8% is still a lot of shares to gain. I hold 470,000 shares and they are not having mine. Extension on deadline was always in the plan, but it doesn't mean anything if they cant get any more shares. Hold tight and we will win.... or come in with a bigger better offer.
Just say NO. They were happy to pay AU$0.20 1 year ago now they want to steal our shares for 20% less..... NO
How is asic looking after minority shareholders with this decision. unbelievable.
Extension of bid deadline now 19th April. Not looking good now. They are going to get across the threshold
Yes so I think his wondering if they actually do own the shares . For example if they get to 79 percent but the take over fails, will they go back to the original holding of say 65% and the shares are returned to the original pi’s. Or have they in fact bought them and shelled out the money.
Not quite sure, when I get some time will try and check that.
New shares as in new to the takeover bidders total
???????????????????????
Do we know if they actually own the new shares? or will they only be purchased only if they get to the required amount to force the sale through?