Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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fundamentals.21,
the SFO knows full well that it is Foreign Ministers that ASK for bribes and DEMAND them.....but they cant do anything about that....so they screw the low hanging fruit that decide to pay them ...knowing that if they don't...someone else usually will
Ditto
Calamari
It occurred to me much later on today that I was confusing "shareholding" ie my share of the Company with "Number of shares held" ie physical holding of shares themselves, hence my seemingly stupid question
Calamari
So will you own the same no of shares at a diluted price or less shares at the new price if you do nothing?
It'sd as simple as Calamari says in terms of ownership and dilution. Need to remember that any dividend will also have to take the increased number of shares into account..but any dividend will be higher than the current amount!
Thanks Calamari.
I just thought that what you said was funny was not being detrimental to you :-)
Thunder.
Many thanks for a constructive and civilised response-greatly appreciated.
Denby
I was joking. Bit later than you-at the screen 07.00 usually but engagement of brain takes a little longer.
However still trying to fathom the dilution conundrum as to me their statement lacks a bit of clarity
What is corruption? It is a very competitive world out there, and I doubt there are many global companies that are squeaky clean. Is it wrong to protect your employees by outbidding a rival's bankhander? It is war out there, which means you win by any means available. Sorry, that's life today if your in, and want to stay in, the fast lane. Gone are the days when you stood back to let your opponent rise from the floor; now you put the boot in when he's down Stay Safe
Warthog, dilution based on the closing price pre announcement which was 157p approx I think. You can work out the overall theoretical ex issue price a few ways. If you get the full half year accounts and check how many shares were in issue prior to new issuance, multiply by 157p to get the market cap. Add on the capital raise proceeds in correct currency, then divide by the total new share no. (old shares in issue, plus new shares they issue). Then compare it to the average price of your own holding buy buying more or not, then you can see how in or out of the money you are. The reason its a theoretical ex issue price price is because in reality there are other things to consider, i.e the extra business value you get from having the increased liquidity and the opportunity it can unlock etc.
I have not got time to do the maths for you, but the theoretical ex issue price is above 115p for clarity
Idiot every business and country banks is run by crooks
from the press release
"News of the placing came alongside the group's results for the six months to the end of June, which showed that its net loss widened to $86m from $78m in the first half of last year. The company put this down to the bribery fine."
nice bit of double speak. either is down to the fine or it is n't
This share isnt for long term holders, to make money with this thing you have to swing trade
you said a bit early this morning wondered what is early for you i look at data beginning at 0630 every day :-)
denby-meaning what exactly?
If you have something to say, just say it. However if it was intended to be offensive or critical on the basis that in your opinion I appear to be asking silly questions, don't bother
warthog4.
LOL
Thanks Thunder understand that part no probs. but dilution of actual physical share ownership or value thereof??? The latter seems logical when more shares are issued but the former??
Sorry for being a thicko but bit early in the day!!
Decisions...decisions..is this going to be one of those times that I will ultimately be able to buy on the open market below the offer price....!
Thunder2040 well put , gobbledygook to make share holders feel a little better we have been screwed over.
Its means the underwritten element and dir purchases are proportionally larger than the open offer, so you can't prevent dilution totally by taking up your max subscription option..but can reduce it through participation
"Shareholders who do not acquire New Shares in the Open Offer will experience dilution in their ownership of approximately 33.5 percent and shareholders who take up their Open Offer Entitlement in full will experience a dilution of approximately 16.8 percent as a result of the Capital Raise and Director Subscriptions."
Must be thick but don't grab the maths. of this one. Are we talking actual shareholding or value thereof? The latter I hope 'cos I can't fathom the logic of the former