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Boooo - you must be really scared :-)
Somebody call the coast guard.
Happy festive to you :-)
Macdaddy... Yet more unsubstantiated BS from you. You suspiciously joined this BB on the day of the consortium announcement and you have consistently posted scare tactics and lies.
A takeover requires 90% under ASX rules.
A scheme of arrangement requires 75% of the shares they are targeting, beyond the consortium holding.
This is not a foregone situation.
Guys - it is already decided upon
They are just saying that it is "not a choice" in flowery language ==> take the money OR risk not getting anything prior to a delisting.
You really would not have to email the bidder statement to all shareholders, because it is up to the board to decide if they are going to entertain the BID in the first place OR not. Absolute BS.
Cheers.
Quite happy with the boards response under the circumstances.
Agreed. that I'd what we saw today. jump to 190... but the last roughly 1 weeks has seen a concerted drive of the sp down by somebody who is prepared to sell 100 shares eat 170 or even lower to engender the impression this stock is worth that... it is not.... it is worth far more. senosi knows that... the tennyson report agrees. I am not sure of the true Intentions of some of the new people on this bb who have popped up recently. I am sure between me you sandman bozmo and a few others. including most of management... we can prevent this happening.. I am in this since 2012..
When a takeover or proposed takeover happens usually the share price rises in anticipation of a higher bid, totally opposite here SP gone lower and a proposed lower bid suggested, maybe PI'S don't think anything can be done and jumped ship.
I don't think it will happen, but what could is equally as poor, management not seeing eye to eye, any funding offers rejected by the 64% until MC Mining becomes a sitting duck.
Should be a fun Christmas party at the head office :-)
I have been informed by management they need 90%
I feel the threat of Delisting is very real, so if they manage to get 75% holding we are all in trouble. It seems the best we can hope for is between 16 & 20 Aussi cents per share, which, personally is a massive loss. I fear the worst.
The share price movement is not performance related...Share Price moving up in light of a 0.16 cents offer is incongruent and is not indicative of any actual business dealing.
Hi can u please explain tootight...??
I think today's trades and those since the intentions of those wanting a take over was announced show how highly the board is rated in being able to get a good deal for us PI'S.
Read pages 40 to 47 of the actual submission documents - link below from the RNS.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02755259-6A1186937
This is not yet an offer, it is an amended indication to potentially offer. I expect plenty of negotiation in early 2024
Just realised Yi He owns Dendocept so she is in with Senosi.
I noticed something else when I re-read the notice. They mentioned that a TARGET statement is being sent out - this would be directly to the shareholders whose shares they would like to purchase.
It is all but decided.
No - it was 0.2-0.23
As I recall... initial offer was 19 to 23 oz cents. not 20c... sp has obviously Neen worked down in last few weeks. any odd looking at the price action daily can see that!
The share price rose to R2.28 earlier ==> if people knew in advance that that they could offer LOWER than the initial 0.2 aud cents and settle at 0.16 aud cents ==> chances are good that they would sell straight away. The fact of the matter is that the share price is adjusting itself downwards in line with a lower off - which is a very SAD reality.
It is the value of the underlying asset that counts, not the "buyers" sentiment. If you ask me, I would be up in arms to argue that the valuation of the asset both in present and future terms should be the main determinant of a possible sales price.
Why would I want to end up in a parity valuation situation after all that graft and with still so much graft to do... whilst normalising shareholder voices. The premise and justification for a takeover is weak at this point ==> unless it comes from Saudi / China / Royals. They should just drop it... because most private investors are about to be dropped with a flimsy paddle.
Bear in mind this is only a revised indicative proposal... It is not an offer... Yet.
The last raise was at AUD 0.20 when the firm was producing negative cashflow. Now that the firm is producing positive cash flow - perhaps enough to cover the coupon on the debt package to build Makhado - I cannot see how the board can recommend this offer to shareholders .
I expect a much higher OFFER will be needed before the board recommends it to shareholders. For example, the Tennyson analyst report highlighted "the sum of the parts" is 21p (~AUD 0.40)...
Page 5:
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.mcmining.co.za/all-categories?task=download.send&id=1773:tennyson-equity-research-reportl-mc-mining&catid=107
Lets hope other interested parties are watching and will also make an offer... I have no doubt Senosi wants to buy this cheap but I also expect he has a price in mind if someone else will pay the true market valuation for this unique asset.
Massive sell-off!! why would anybody sell off at current sp when 16 oz c is circa r1.90...??
As of today, Senosi holds 23,4% and Dendocept holds 6,9% of total shares in issue.
I don't agree with it in the slightest, but nothing of note got passed in the last AGM, we are vulnerable untill funding is granted and we can move forward, but if 64% oppose any funding deal offered it's stalemate.
Aim shares for you corrupt.
Senosi is a small fish in a big pond. Cannot see why anyone would follow him.
Latest offer even worse than first. both offers ludicrous. any idea selling would be stupid in the extreme. 1 or 2 cents negotiated up..... please.. ! ,tell me again how many shares you own??
Senosi's only way he gets 64% of shares probably, 71% not in public hands so most of top shareholders back it.