Member Info for addicknt

NMM, the Specials relate to pre-emption rights...again.

The notes are worth reading, particularly as they relate to the reasons the company has ignored Code compliance with regard to those resolutions of the last meeting where the 80% threshold wasn't achieved.

Bozi, both. I seem to recall that snake oil salesman Parsons at SOU delivering one. Mind you, that was when it was flying and everyone loved him.

Bozi, I've sat in on a number of them and they worked pretty well. The best run were those where questions were submitted in advance, which allows the chairman to ignore those which are either overtly rude or of a confidential nature.

Sadly, the old style open meetings is becoming a thing of the past and the opportunity to get the real measure of a board has gone with them.

I chaired an AIM listed company and got roasted on behalf of the ceo. It wasn't comfortable, but it was true shareholder democracy.

If I were a bidder I'd sit back and wait to see how Jiangxi play it from here.

There's no rush and I'd want to see what level they make a serious proposal - if they actually do.

Has an article about the bid. It doesn't offer any comment or insight. Still, it's good to see a bit of publicity.

Q, there is no mention in the details of the AGM of the intention to have an online Q&A session. Shareholders can submit questions in writing and those attending will be able to table questions, which the Board may, or may not, decide to answer.

Personally, I don't like this at all.

IP, yes, I am, but what is your point?

Fort, as I said yesterday, we know they were eager to buy Newmont's stake and I wonder to what extent we managed to get New onside to rebuff their approaches? If this is the case, did Jiangxi get frustrated, which in turn led to them to make their offer?

Another question: by way of a compromise, will this open the door to a jv with them? I sincerely hope not.

Stepping back from the heat of yesterday, one thing is clear - they want the asset.

PS, agreed. 26p is a joke. As I said earlier, they didn't want this to be made public and we've employed the standard defence tactic of putting them on the back foot. The PUSU timetable piles pressure on them and will determine just how much they want the asset.

One thing's for sure, we're no longer best mates.

Sensible offer?

Fascinating stuff.

1) The value was running away from them.

2) We know they've wanted Newmont shares for some time.We also know we didn't want them to get their handson them. Did Newmont reject an approach which pushed them into action?

3) Have the been pressured into it by their government?

4) Do they believe progress is too slow?

Whatever the reason, they must have known they'd be rebuffed. Our management has embarrassed them by today's announcement, will they walk away, or will it propel them to make a

Contain nothing unusual.

The Q&A will be fascinating - assuming they have one.

Good to hear from you Darren. Interesting times...at last!

Sh4, they don't need 90%. 51% will be sufficient for them to have full control of the company and to do with it what they want.

For example, they can pass whatever resolutions they like; they can de-list; they can dilute the hell out of all other shareholders; they can re-domicile to China etc, etc. No shareholder will want to be in that position. And btw, at 50p I reckon they'd stand a good chance of getting it, particularly if Newmont and BHP aren't interested.

JG, I mentioned this on Telegram yesterday. Getting the results out was a way of telling Jiangxi their offer was derisory.

Choosing to release this today is, in part, a defence tactic. Jiangxi would not have wanted us to do so and no doubt would have preferred to continue negotiations behind closed doors.

By issuing the RNS we've opened up the whole process to all other potential bidders. It's a clever move.

Q, yes, although bear in mind it's only an indicative offer. They probably started at 20p and we told them to bugger off and think again and 26p is as far as they got.

We've been in auction for a very long time now.

MF, standard stuff I'm afraid and not the news that BHP have offered £4.50. That comes on Monday.

Q, that is a good question. Have Jiangxi talked to BHP or Newmont?

From memory, and given this is only an indicative offer, I don't think they have to declare if they've got the support of other shareholders. If they make a firm offer, they do.