George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
I am not sure why you need to be aggressive. I am just pointing out the RNS wording which would have been cleared. If you do not believe the RNS, then that is your perogative.
Let us wait to see what happens tomorrow as I think tomorrow is a mere formality.
You need to read the full RNS....:
......As set out in the notice of General Meeting, if within half an hour from the time appointed for the General Meeting a quorum is not present, the General Meeting shall be adjourned to the same day in the next week......Two or more shareholders who attend the adjourned meeting in person or by proxy will constitute a quorum, regardless of the number ordinary shares they hold or represent."
From the RNS:
"Two or more shareholders who attend the adjourned meeting in person or by proxy will constitute a quorum, regardless of the number ordinary shares they hold or represent."
"Valid proxy votes submitted in respect of the General Meeting will be counted at the Adjourned Meeting. Based on the proxy votes and forms of direction received for the General Meeting, had the meeting been quorate, the resolutions would have been passed."
Hi Laura,
This is the SEC filing published yesterday which has a lot of interesting information:
https://www.sec.gov/Archives/edgar/data/1900679/000149315223026666/formprem14a.htm
Super Apps Holdings Sdn Bhd
Super Apps Holdings Sdn Bhd (“Super Apps”), a Malaysian private limited company, was incorporated on April 20, 2022, and is a wholly-owned subsidiary of Holdings.
Share Sale Agreement with MobilityOne
On October 19, 2022, Super Apps entered into a share sale agreement (as supplemented from time to time) (the “SSA”) with MobilityOne Sdn Bhd, a Malaysian company (“MobilityOne”) to acquire a 60% equity interest in OneShop Retail Sdn Bhd, a Malaysian private limited company (“OneShop Retail”), which is a dormant wholly-owned non-core subsidiary of MobilityOne recently formed on October 17, 2019. MobilityOne is wholly-owned subsidiary of MobilityOne Limited, a Jersey corporation listed on the London Stock Exchange (AIM: MBO).
Following the completion of the share sale pursuant to the SSA, MobilityOne is to receive cash payments of $8.8 million and $4.4 million within 14 days and 180 days, respectively, of completion of the Business Combination.
MobilityOne is principally involved in the provision of e-commerce infrastructure solutions and platforms. It offers mobile payment applications, payment and enterprise solutions, messaging and communication as well as eMoney solutions.
Pursuant to the terms of the SSA, in consideration of MobilityOne’s undertakings and guarantee of achieving the Revenue Target (as defined below), Super Apps shall cause TETE to issue shares in TETE to a stakeholder to be mutually agreed by MobilityOne and Super Apps with aggregate value of $4.4 million within 14 days upon completion of the Business Combination. The issue price for the TETE Shares to the stakeholder will be determined at a later date and in any event shall be the same as the issue price for the TETE Shares to be issued to the shareholders of Holdings pursuant to the Business Combination. In the event that the Business Combination is consummated, but the Revenue Target is not achieved, the Share Sale will continue, however, MobilityOne will not be entitled to the TETE Shares.
Once MobilityOne achieves the Revenue Target following completion of the Business Combination and the Share Sale, it is expected that MobilityOne will divest its TETE Shares. Subject to the relevant conditions precedent being satisfied, MobilityOne intends to apply the expected cash proceeds from the Share Sale and Joint Venture into the expansion of the MobilityOne’s existing e-payments business in Malaysia and supporting the general working capital purposes of MobilityOne.
Air India being sold by December!
hTTps://www.businesstoday.in/industry/aviation/story/govt-targets-air-india-handover-by-dec-305025-2021-08-24
The DIPAM source told Business Today.In, “We are ensuring that the financial bids for Air India come in by September. Our target is to hand over Air India by December this year.”
DIPAM also clarified that Cairn moving court in the south district of New York against Air India to enforce a tax arbitral award will not dampen the investor sentiment for strategic sale and in case of need, the government will give a guarantee to the prospective bidders against the same.
“This is not a major issue. The Cairn issue is now over. That said, any judgment of a US court is not enforceable in Indian territory. In case there is a judgment, they can attach an aircraft in the US and not in India. If that, at all, is a concern, the government will provide a warranty to the prospective bidders,” the source added.
Pilot thickens with Vedanta also claiming damages from Indian Govt ref Cairn shareholding
https://m.rediff.com/business/report/retro-tax-settlement-with-cairn-may-be-far-from-over/20210820.htm
https://www.livemint.com/news/india/cairn-dispute-govt-shares-update-on-seizure-of-indian-properties-settlement-11627896410164.html
Initially, the government wanted the dispute to be settled under the 'Vivad se Vishwas' Scheme. The now-closed scheme provided for settling of a tax dispute if the taxpayer pays 50 per cent of the tax demand upfront in return for waiving of penalty and interest as well as the closing of the case.
For Cairn, this would have meant getting about a third of USD 1.2 billion claim.