Member Info for Fozdog

I don’t see a price on it? Just approval for acquiring …

Nice post Strangerstill, think we could send a million different variants as how undervalued this is and they still dont seem to care!
I am self-loathing and reminding myself that when I watched countless Secker interviews with 'nervous' cough and he throw our company away at 25p....BOD are important and trust in them is huge! Reminder to self...however good the asset remember that!

I still don't see how M&G can justify selling something with the upside and even not even factoring in LI prices/other LI stocks performance in last 1-2 months scheme of arrangements where they 'might' make 5% return ytd? Remember they didnt participate in 45p placing so their funds will make a 5% return if goes through (prob even a loss as doubt gets done before year end!)

Im clinging to that as I believe they will so no to deal.

As of today's move...ZNWD the one we owned circa 45% in it at the start of the year has returned 50% YTD.

BCN has returned -16%...

Even if this goes through 67.5p that a 5% return.

Are the board mad?!

Yep and ganfeng out there saying going to “boom to an all time high” …. How they can justify this just given the move in last couple months alone on lithium stocks and prices

I voted against everything bar the accountants as not portioning any blame there. I still can’t fathom all of this, if the bod recommends 67.5 p that means we’ve returned effectively 5% at best year to date.
Znwd ytd is +43% and they’ve not even lifted a finger!!!!

Right now I want to hear directly from the bod why the hell they pushed this and are willing to accept it. If Dees figures are right we have over 10% and I then want to proceed with a special resolution to oust the board members pushing this and change their renumeration to a deal at a much higher valuation.

Does anyone have a view how it will go next week?
I assume ganfeng have voted by time we are up Monday morning but will they put offer in post that wait or till last minute on 1st July and post our agm? Thanks

We’re clearly talking about two different things. You are talking about our equivalent share holding, So yes we’re net net same and I am talking about being diluted in valuation terms.
Either way it’s was another crap deal from bod selling our 50% at about $2mn given solar world getting 10.8.

And for ganfeng they are getting 34% stake worth about £15mn as of yesterday.
So net net 67.5p for bcn is 3p for znwd ie 5% of the overall deal.

zwld only owned 50% of zinnwald… that was OUR 50% sold for equivalent of $2mn Based on market cap of time
zwld now own 100% of zinnwald… they PAID 10.8mn$ for that additional 50% we also PAID via dilution of znwld.

Bcn owned 44.14% of zwld… 44.14% of the 50% zwld owned of 100% of zinnwald… you do realise we gave 50% for 44.14% at a value of circa $2mn right???

bcn now own 35.52% of zwld… 35.52% of the 100% zwld own of 100% of zinnwald… it cost 10.8mn to add the additional 50%. The market cap was 45$mn at time. We’ve lost say 10% so it’s costs us circa 4.5mn in less stock via market cap to own it.

So yes been diluted

it’s not rocket science…

It’s not rocket science correct so you understand the difference for our 50% and their 50% right?
Or do you just decide to ignore the fact that we’re paying 10.8mn $ for a 50% asset that we received the equivalent of $2mn ish for?

They shelled out 10+ mn $ for it, we PAID 1.8$ and got 44.4% of a 6mn $ market cap. So net net we received about $2mn for our 50% and paying 5x that for the next 50# and yes we are paying via dilution in znwd. So your below argument is not even remotely correct.

Tomcat sorry what are you going on about?
it wasn’t 44.4% of 50% if was 44.4%of 100% znwd share capital and now 35% of 100%. It’s not the project it’s the amount we own in znwd so yes it is dilution.
You can’t just make out it’s more of the project that’s irrelevant.
And we also got paid a fraction for the 50% stake we Owned in deutsche lithium compared to what solar works received. So it’s heavy dilution on that factor.

Jam my Hunch/gut is that M&G are going to say no anyway, but yeah agreed its far from done.

I just want the offer on table as I want to hear from Secker and co if they recommend the offer why are they doing so? Their strategic partner who knows more then them is out saying LI prices are likely to hit record highs.....

HL told me its 5 working days, and we can't get upset with them as I know corp brokers for major funds/accounts are similar requirements so its not like a PI thing.

John I asked a specialist UK M&A person, taken their view on it not going to try interpret docs and get tied up questioning it.

I am at total peace with it, M&G say no we are game on - they say yes were in an uphill battle.

Asian lithium-related stocks advance after Ganfeng Lithium, the world’s third-largest producer of lithium chemicals used in batteries, said there’s a chance that a tightening market for the metal could push prices back toward a record high.

Yeah cheers for that, how about you pay up?

John they require 75% of the voting shares excluding ganfeng. 75% of 72.2% remain basically for this to go through.
It’s not about being cleverly worded it’s takeover code there is no clever wording the code is the code in a scheme of arrangement.
Also the 50.1% again over thinking it. .75 x 72.2% using simplistic maths is 54% of the total votes outstanding anyway. You are talking pretty fine amounts and all that matters…M&g say no it’s no, otherwise you are hoping on others to band together to have enough.

Buyout groups are “acquiring publicly listed companies far too cheaply,” in deals that “fail to compensate [shareholders] adequately” said Rupert Krefting, head of corporate finance and stewardship at M&G

Dee please send an email to Rupert….

Unless you are talking Gf vote!!

They need 75% of shares minus their holding is simplistic way to think about it (few other non voting shares, board renumeration shares etc)
Quite simply m&g say no there’s enough pis to make it a no.
Or pis and robecco might be enough, or pis alone if there’s a lot more than known atm.

So we PAID $1.8mn and 50% of Detsche Lithium for 90mn ZNWD shares...

ZNWD paid $10.5mn for the other 50%.

So we put in $1.8mn of our cash, for a company worth about $8mn at the time and got about 45% share capital in ZNWD.....so net net we got paid about $2mn ish for our 50% they got $10.5mn 7 months later on and 0 development!

This BOD just incapable of negotiating aren't they?!
Just hugely weak even give assets away at fires-sale prices ...and what was messaging at time we are 'concentrating on Sonera'!