Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Good to see our 3m being spent at such a low price, the more we can buy and cancel at these prices the better. Good to spend the lot now before we release the good news later this summer instead of drip feeding the 3 m over the whole year.
Also why would they sell below the tender price after. You are not logical. Like Gindog said and got shouted down for not agreeing with you. The market will adjust the price according to supply and demand if no sellers below 24p then the price will rise.
i am tired of reading the nonesense that the company will trade at the cash value held in the company. this is utter *******s. the market price is driven by supply and demand. don't forget this traded at £2 a share once with no cash and a load of debt. so let the market decide what price people are willing to pay for the shares.
one thing i don't get at the moment is people are selling below 24 pence seems strange. however i put a purchase through a couple of weeks ago which was a big buy on the day and it was shown here on lse as a sell. so do not believe everything you see regarding trades.
To wickymicky I think point 7 pasted from nanocos circular below answers point 1 you raise
7. Potential Further Stage of the Return of Value
As stated above, the Return of Value will seek to return up to £33.0 million to Eligible Shareholders by
means of the Tender Offer and the subsequent Share Buyback Programme. There is however no guarantee
that the Return of Value will return the full sum of £33.0 million to Eligible Shareholders, as this is
dependent, amongst other things, on the level of participation in the Tender Offer and Share Buyback
Programme. If a material amount of the £33.0 million allocated to the Tender Offer and Share Buyback
Programme has not been returned by the date of the Company’s next annual general meeting in 2024 then,
provided there is a meaningful surplus remaining, the Board anticipates the return of part or all of this to
Shareholders by way of a special dividend (the “Special Dividend”).
Please note that there is no guarantee that, if the full £33.0 million is not returned through the Tender Offer
or Share Buyback Programme, the Special Dividend will be paid, as such matters will be subject to
applicable law and the determination of the Board at the relevant time, including an assessment of
prevailing equity market conditions, the capital needs of the Group, the sufficiency of distributable reserves
and other factors, and the Board reserves the right to pursue alternative uses of the available funds,
including for alternative share buybacks or dividends, or investment or working capital purposes.
Correct I have already done exactly that buying at 20.4 p collecting 24 pence next month and keeping my core holding intact. I will make 17% on the sum I invested which I am keeping private. Not bad for a months work.
5. Further Details of the Tender Offer
5.1 Overview of the Tender Offer
It is proposed that up to one hundred and twenty five million (125,000,000) Ordinary Shares (representing
approximately 38.5 per cent. of the Issued Ordinary Share Capital as at the Latest Practicable Date) be
purchased under the Tender Offer, for a maximum aggregate cash consideration equal to £30.0 million.
All Eligible Shareholders on the Register of Members at 6.00 p.m. on 8 April 2024 are entitled, but not
required, to tender some or all of their Ordinary Shares for purchase by Cavendish, acting as principal, at
the Tender Price. For US Shareholders, the Tender Offer will be open solely to Qualifying US Shareholders.
Subject to satisfaction of the conditions to the Tender Offer, Ordinary Shares which are successfully
tendered under the Tender Offer will be purchased at the Tender Price.
The Tender Offer is to be effected by Cavendish (acting as principal and not as agent, nominee or trustee)
purchasing Ordinary Shares from Shareholders. Cavendish, in turn, has the right to require the Company to
purchase from it, and can be required by the Company to sell to it, such Ordinary Shares at the Tender
Price under an option agreement (the “Option Agreement”), details of which are set out in paragraph 3 of
Part VII (Additional Information) of this document.
Following discussions between Cavendish and the Takeover Panel in respect of the application of Rule 9,
the Takeover Panel has agreed that Cavendish will not be required to make an offer under Rule 9 as a
result of purchasing Ordinary Shares from Eligible Shareholders pursuant to the Tender Offer. For more
information, please see paragraph 4 of Part VII (Additional Information).
Sharedealer is wrong he mis understands the below clear message in the circular
The date 8th March is only refering to the share price on that date
Careful is absolutley correct
4. Benefits of the Tender Offer for Shareholders
The benefits of the Tender Offer for Shareholders as a whole are that:
• it is available to all Eligible Shareholders regardless of the size of their holdings;
• it provides Eligible Shareholders who wish to reduce their holdings of Ordinary Shares with an
opportunity to do so at a market-driven price at a premium of 25.1 per cent. to the closing midmarket price per Ordinary Share on 8 March 2024;
• it provides Shareholders with an opportunity to sell their shares without incurring any dealing costs,
and therefore avoids Shareholders holding a small number of Ordinary Shares having their proceeds
significantly eroded by dealing costs; and
• it permits Shareholders who wish to retain their current investment in the Company and their Ordinary
Shares to do so since no Shareholder is required to participate in the Tender Offer.
Why don't stop moaning you do something about it and buy some more and then accept the offer no brainer. Getting less and less profitable that tactic as more and more peope take advantage of a generous offer
C'ant wait for the decision to be made public when it suits the Directots who are very competent. Then I guess the whingers will find fault in that because it does not suit them in some way. Last year was transformational for the business, but not for the gamblers here who wanted to make an instant few quid and sell up.