Member Info for Fozdog

Sure - to get to 30% mandatory bid status the only logical way would be via buying in the open market. Therefore their new price of purchases would most likely be around 55p (current so). The moment those purchase hit the market the price would likely go higher and a mandatory bid would end up being significantly higher to the indicated 50% premium.
If the board tried to circumvent this by doing a placing, that would be illegal and one that won’t do. It will also act as their highest price paid and bid would be generated from there.
It wasn’t very written, very early in morning and add in some small phone screen with predictive text....equals badly written English.
It’s irrelevant anyway, merely answer a question to another poster.
Time to move on, life is too short.

They won’t be able to say anything mr c. I would assume they are restricted from saying anything by there internal controls.

It’s the highest price they’ve paid not the market.
Ie 45p plus I believe it’s the premium already stated as linked there now.
They can’t go and pay 55p in market today and go over 30%, because that would be the highest price they have paid.
My understanding is they would then need to pay 50% premium on that because have indicated those terms already...but that I’m not 100% sure on. Ie because stated 50% premium does that apply, I would argue it does as they’ve made that intention even if not bid but not 100% sure.
I would think that 50% premium statement also lasts for certain number of months now prob like 9 months or something. This is why whether or not bid comes the comments are key post this because whatever statement is given is binary on them / board.

There’s a few malicious posters on here - just remember if ganfeng go above 30% it triggers a MANDATORY BID. They also can only get to that number via buying shares in the open market because of our board attempts to give them more stock via a placing the regulatory bye bye secker freedom.
To be is around 55p today and would require same terms indicated at 50%.
So if anyone malicious tries posting about how ganfeng only want 50% and control, remember that.

Wow Dee if over 6% that’s material and well done. Two new climate activists got added to Exxon board with a fraction of that driven by an activist shareholder .
I suggest reach out to them...this would be a fantastic investment but also shows what can be achieved with a little will power.
Well done you and all of those contributing positively. Put a smile on my face to read that, I for one will appreciate what this message board minus a few has achieved and contributed.

Given it’s clear in the rns, a legal document, a regulatory document, on ganfeng holdings only 25% of the remaining shares ex them is needed. Someone asked about hanwa if there’s any suspicions that hanwa or any others have worked with ganfeng here they would be deemed a linked person.
This is material and would change whole scope of votes needed and I actually think if hanwa if anyway are seen working with ganfeng and get linked - that would also potentially lead to a mandatory take over bid as it would be breach 30%.

Well done Dee, hugely impressive.

John this is My best understanding - as it’s takeover code process, nothing to do with regulator at this point.
Regulators always look but they won’t assess this till deal is on table. Have they maybe briefly looked with Iain ds and mentioned in papers? Sure why not, but not assessing yet.

An intention to bid is not a bid - if it becomes a bid then it becomes legally binding subject to due diligence. If an intention to bid doesn’t happen then ganfeng or the board are obligated to make a statement. It can be bare like “not right time and want to focus on strategic partnership”.
If they want to extend and the two parties need to agree then both have to confirm to shareholders why it’s being extended. That statement is also legally binding.

That’s my best understanding and sooner we find out better can move on here!

Hi John, unless I’m mistake for a delay to be issued both parties have to agree with it. My understanding is there needs to be a reason for the delay that has to be shared with shareholders? We have every right to be told the buyers intentions and the boards on a delay.
I believe any statement made here is binding on ganfeng so they can’t just say oh we’ve decided to extend for sake of it.

For me John I think it’s trading here because there’s at least 10% time value of money on how long a deal would take with Poc. The other 10% is waiting on it to be a formal bid. I am basically thinking formal bid Friday or Tuesday and we rally 10% if it’s in it’s current format. However I do think there’s a good chance the bid could be better than where we are now and that would impact us much better.
I doubt any regulatory comments made till formal bid.

Or downside no bid but get to find out rational as to why eg the board might say didn’t think was enough support. Think this is unlikely but then depending reason might fall back to high 40s and settle low 50s once the 20% gang done.
Really 20% below price here isn’t much in scheme of things.

Dee as chairman

Jon you’ve got paper hands! Relax mate, what will be will be. We’ve gone over so many time’s that the market is pricing in that this deal isn’t done in this format. Yes there will be sellers if no deal (chances of that v small imo) who were looking for a quick turn.
The upside isn’t what you claim it is, time value of money is at least 10% for this risk.
Quite simply if you don’t want to hold it, and no deal falls back then get rid of now and take the stress out your life.
Personally if it pulls back (and reviewing what they say including board) then I’ll look at add.

Again this is a little far fetched but that new from Nissan great - advanced talks for battery gigafactory - will make Britain the company’s largest car production outside U.K.
Well plough some more £££ into Cornwall and step in on bcn!!!

Mike 30% triggers a Mandatory bid - They can go hostile when they like.

Bonkers I totally agree...you’ve had an intention to bid and scheme of arrangement from a majority long term shareholder and they’ve just bought some at 45p...I mean for it to go down to 35-40p I and many others would just have more buying cares. And if gangfeng tried to buy down there and trigger 30% they are still tied to their 45p purchase.
I honestly don’t know the game of some posters nor do I care, I was always willing to engage conversation if something sensible to be discussed even if opposing views.
But like boarder bob I asked him last week his view on credit ag - hasn’t got one said no idea but keeps posting on their stake. I have a view that it’s their trading desk and their asset manager. Sensible if ask me from a trading desk.
Again the stupid statement that can be extended “indefinitely” no it can’t. Read the docs, understand take over code and if you don’t never hurts to ask.

As much as I like a conspiracy theory for fun element the arrival of these two is just soooo fishy makes me actually laugh they think are getting to us!!!

Lol, it’s just really amusing. A scheme of arrangement works like this, no formal offer until deadline or agreement from both parties to extend it.
No one has said there’s a guaranteed offer aside from some people going on about easy money return which ignore also.

Dee you’ve done a great job, i strongly believe your actions will at a minimum help strengthen m&g resolve and their negotiating position.
Quite looking forward to deal or no deal and rational why.

Is it national troll day?!

Bonkers I thought they might go for Friday, right before bank hols and use a few days up into weekend and few more days before anyone back in office etc. Either way as you said tis a no from me

I enjoyed it mr James!!

Bluegrass don’t think we’re trying to work out an “acceptable” figure as it’s a long way from this and Iv said was happy all way to ten years if took to get dividends.
However it’s realising m&g as fund and a recovery one at that they have materially different rational for us and investment thesis.
Anyway I’m still feeling positive

If you look at LAC and Ganfeng stock to use lithium comparable because of the commodity jump over last month these stocks are circa 10-15% higher just in the market alone. I don’t think it was unreasonable to expect bcn to have jumped 10% in the last month from its undervalued position.
Every indicator here feels rotten to me....

John/mr James as much as I thoroughly enjoy speculation is it simply that they are restricted from doing anything right now? Or It just strikes me as a lot might do nothing till they know the deals on table.
Can’t help but feel and it’s a gut feel m&g being sensible here and not revealed their hand to board. I hope they’ve just said it’s rubbish offer go rethink!
Who knows!