Member Info for Culpepper

You can be as rude as you like.
We're all just punting ideas about, is all.
The project goes on. Now, to come up with the cash you're floating, 70% of Hav, other tenements, and Telfer, is, in my view, too rich for Ggp's blood, don't you think? Now, if somebody comes up with that sort of cash Ggp and it's 30% of Hav is a relative walkover. See where I'm going?
Now, a complete buyout would suit me fine. But not everybody.

"OR GGP gets a shot at first refusal to pick up the remaining 70% of HAV along with Telfer and a collection of Patterson assets (JV's) at a fire sale value."

See where you're coming from. But best if you say it quick and don't think too much about it.

That's having read up a little bit on the Australian stuff. A 'target response' is now required. Common sense I think that it should, though reasonable on 2 companies seeking to agree, that that 'target response' should not be particularly time limited. And there'll be all sorts of talk about this and that, I should think.

I agree. I don't know, but on timetable it as at the stage for Newcrest to respond, and tell shareholders. As I see it, a non-binding proposal subject to conditions, no time constraints are set in motion at this stage, and nothing will happen publicly until Newcrest says more. Not being hostile, I imagine they will work together on future announcements.

One mustn't forget that they'll have to give us a vote, like it or not, on any extreme change. I haven't looked at what the current passed resolutions permit without such, issue of equity and what that adds up to and so on.

They certainly do, unless it's been a big con all along. But the suggestion from the American lot, if true, is just them bunging another contender for NCM into the works, isn't it? Same difference really for Ggp. Unless some unmentioned outfit comes out the blue for Ggp and Hav.
But I think it's all about Telfer and how Wyloo call the shots - they will I've little doubt. Maybe along with whoever else is in as major shareholders under 3%.

And your point reGgp is what?

Almost sounds like you know him Shrimper. Quite enjoy it all. No green box for him, what?
Anyway, no news on who’s going to finish up with the key Telfer yet, for Hav ore, and goodness knows what in the future for diggers round and about. Would be a very big deal that, with Hav maybe parcelled up with it somehow, for mining around those parts.
Looks like Greatland got some sort of inside track on something or another, cos them joining probably aren’t stupid. Got the appearance of taking on developing, with or for somebody else with a lot more cash or ability to get it.

Anyway. I’m off for today. Whinge away.

No more tick-ups from you then.

Red. Best of luck to you too, on buying 100% of Hav and Telfer!

Culpepper
Posted in: GGP
Posts: 1,895
Price: 7.40
No Opinion
RE: NCM in crosshairs05 Feb 2023 16:38
Or, what’s it worth, or Ncm’s 70%, without Telfer processing plant. Telfer is crucial to the plan as it stands, for both parties and a buyer.

There’s a Motley Fool article out, by a shareholder in KGF.

https://www.fool.co.uk/2023/02/10/can-i-afford-to-miss-a-wickes-shares-bargain/

This one says Wickes has about 5% of the UK market based on analyst estimates, and that Kingfisher is about 10 times larger in terms of revenues so it should have about half the market.

Last full year results revenues UK and Ireland for KGF £6505m
Last full year results revenues for Wickes £1534.9m

It’s always possible I’ve read it wrongly or missed the obvious. I shall be put right on here.

That’s my point, really, nobody knows. There may be no change, or smaller ones upwards. That’s them and their money. Pi’s aim is to best position themselves and their money.

Fate.

As I shall this next time, by the way, before adding, having retained my relatively small stake. Whatever debt/dilution may come about. And if Ggp by some twist of stake is sold on, I shall take my relatively small profit.

“Forum members” are rarely in agreement with me. I do not follow group think.
As to my last post of the day, I would not buy into a company if I thought the prospect of huge dilution/debt loomed large, and which some “Forum members” are talking up. I would wait for it to settle.

I think hopes of some sort of takeover which might normally grab pi’s, may be tempered with issues around debt and dilution should most posting here get their favourite outcome.
So possibly a mixed bag of thinking going on.

The law and takeover rules are there to be looked up - but we’re nowhere near contested buy outs, or recommended offers as far as I know.
There are rules also, along with what’s in company articles, about substantial asset disposals. I went through them with Flybe’s original problems, trading them.

Well, Mr. Day has a choice to recommend it to shareholders or not. If he doesn’t, the suitors would have to turn hostile, and act accordingly.
No point in all the ifs and buts but you can finish up with
In the context of a UK takeover offer, where a bidder obtains acceptances of at least 90% of the shares it is offering to buy in the target company (which is not the same as 90% of the total issued share capital) and acceptances of at least 90% of the voting rights carried by the shares it is offering to buy, it can require the remaining non-accepting shareholders to sell their shares on the terms of the offer by following the procedures in sections 974 to 991 of the Companies Act 2006.
The ball would be in his court, and finally down to shareholders.