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Great that we’re watching all this good news coming out about a company we’ve all been disenfranchised of. stench.....
Funny how a share buyback was launched in February because: 'The TSG Board believes that at the current price the Company's shares offer significant value given the discount to industry valuation metrics'.
The last buyback was at 102p so I assume the directors thought this was a price that significantly undervalued the company yet a few days later they agreed to a takeover at 118p. Was this in the best interests of all shareholders?
So Vladislav Sviblov was behind the takeover, the same person that bought HGM last year.
The directors had a big incentive to accept the offer as it triggered the award of a large amount of share options and enabled them to make a fortune out of their various options and shareholdings in TSG.
Yep, I dumped my little stock pile. I am not looking to get involved in helping someone in the little league screw me over like we don't matter. Never again! Bought GGP lately. Seems to be on a good seam (I like cricket!) GLA
we've been robbed here.. daylight bl~dy robbery .. mafia type stuff ..
I'm all out now.. so this likely my last post.. good luck to you all in your bets elsewhere..
it's just like back in the old USSR :-)
Brazen! shareholders disenfranchised. looks like a fish, smells like a fish, tastes like a fish.........
Reading that RNS, why would the owners sell out of this company?? Something seems odd with all this
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
Thanks for that Kenj.
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.
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
Strong positive trend on this one, leading ahead of gold price movements. My spreadsheet should have been flagging this one as an immediate entry at 98, but annoyingly I missed it. If we get anywhere near those levels again, I'll enter with target exit of 200+
Excellent thanks!
" 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.
Any idea when we are relieved of our shares in exchange for the above?
Likely timescales?
TSG are a nice safe goldie at the moment so I am not selling yet will top my Poly at some point also PURE is going to be on my buy list with fantastic grades and have just started pouring gold .
With reserve up date due in Q2 plus they are fairly cheap at the moment. GGP have only drill holes and they only own about 30% of what they have found but when they start building the mine they will be wanting funding from share holders although I do have some myself as I think in the end it will be bought out.
Thank you for all of your wise words, it's nice to see some intelligent comments here. I now agree it's either a done deal, or a very 'boring' and unlikely gamble that I'd be able to see anything other than 115p. I'd recommend, and will be re-investing in either;
1) CORA - very small mcap, but they've just started their largest ever drilling campaign. With results of over 35,000m of holes due over the next few weeks, in areas with excellent preliminary drill results. Potentially the largest return in the short term for any AIM gold miner in my opinion.
2) GGP - Haveiron has now been proved to hold millions of ounces of gold & with several near identical gold/copper anomalies close by, which are all 100% GGP owned. Gervais Heddle tweeted earlier that exploration season has now 'started' and to expect a lot of news flow.
3) PALM - Another very small mcap, but have a fantastic portfolio in Australia and Canada. Although not yet producing, their acquisition of old gold mines (not profitable when they closed 20 - 30 years ago) could be a game changer. It's so much easier & faster to start mining on known gold veins than building a new mine from scratch.
All my best to everyone here for a prosperous future,
Duncan
"a done deal" - yes, I would say so too. I've been in this situation several times before - a gold miner taken over at, what I and many others considered to be, an unfairly low price.
AIM rules about 75% and so on seem to be there to protect shareholders, but the big boys seem to find ways round them.
As Kragero says "this is a done deal" imo.
Yes Write1, it will be a cash offer, but some regulatory approvals are needed before the offer is formally made. The terms though have been agreed in advance, and are unlikely to change.
As Kragrero says "this is a dine deal" imo.
With the shares TSG held in treasury, and the agreements to sell, plus shares recently sold by the public, this is a done deal. No point holding out for 1 or 2p, and a risk that you overlook events in the weeks to come. After the inevitable delisting you can then only sell on production of your own share certificate ( which most of us do not have if using online trading). Just my opinion. I'm not a trader or broker.
"Do Horvik not need to achieve over 75% holding to remove from AIM?"
Yes MonkeyTennis1, you are right they do need a 75% holding to cancel the AIM listing and take the company private, forcing you to sell your shares. But do you want to hold shares in a company where you have no voice or effective vote? They have already been promised control of the company, see statement below:
" Today, Horvik agreed to acquire 44,558,918 TSG Shares, representing approximately 51.2 per cent. of the issued share capital of TSG"
This controlling interest means any small investors would have virtually no say in how the company is run, and who benefits, which is the reason that the Take-Over Panel insists that they must make an offer to acquire all remaining shares in the company.
A better offer could still come in, but I believe it would be blocked by Horvik's 51.2% controlling interest. Once Directors and NED's have backed an offer it invariably completes. The same thing happened recently with Highland Gold (HGM), and the sp never went above the 300p offer price. Most shareholders sold out or took the 300p offer, and HGM de-listed.
Oz not tonnes! Haha I wish!
Do Hirvik not need to achieve over 75% holding to remove from AIM. I presume, feel free to correct me if I am wrong, that if they do not achieve 75% the share continues to trade as normal on Aim with the TSG guys in charge of the board.
If so surely positive news shall follow regarding gold grade/ resource levels (up 43% recently) and tonnes mined for March/April onwards.
Like I say all dependent on them hitting the magic 75%
P.s first time posted as feel that strongly that we are being duped/robbed on this one
kenj is basically right about it being capped at 118p, but I think there is a remote chance of another bidder coming in with a takeover offer a higher price, say 125p.