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Any idea when we are relieved of our shares in exchange for the above?
Likely timescales?
" The Offer is expected to complete in Q3 2021, subject to the satisfaction of the FAS Pre-Condition and the Condition set out in Appendix I to this Announcement."
If it all goes to plan then expect to be offered 118p per share sometime between beginning of July to end of September.
However, if you think that the price of gold is likely rise significantly by then, it might be better to sell now at c114.5p, and buy into another gold miner. Conversely, if you think that gold will fall in price, then hold out for the 118p offer. TSG's price is going nowhere in the next few months, while other gold miners will rise or fall with the gold price.
Excellent thanks!
Hi Kenj, I would like to ask about the forthcoming dividend payment. How do you think this might affect the share price when it goes ex dividend? Just thinking that if there is a significant lowering then the big boys will try to swallow them up cheaper. Thanks, AJ
AJ,
To the best of my knowledge, there is no forthcoming dividend payment.
In their offer to buy all of TSG's shares, Horvik said that the 118p offer price would be reduced by the amount of any dividend paid before that date. Consequently no dividend is likely to be issued, and the share price will remain locked between 115p to 118p until the deal is finalized. There is a faint chance that the deal could be blocked by the regulators, but most deals sail through unopposed.
Hey Kenj - haven't seen your name on the POG BB for quite some time - did you sell out and invest elsewhere ?
I took my money from TSG and punted on a couple of pre-production miners Orosur and Galantas as well as a left field financial called SYME. Past 12mths has been very good for me, glad I diversified from POG into some PGM miners like SLP / JLP & THS. Also made out like a bandit on EUA - I've locked in six-fold profit and still hold a position valued at more than my initial stake just in case the buy-out ever happens