Member Info for johnpwh

Matthew
In my opinion it is pretty clear from the wording that M&G have accepted, and apart from that the increase in numbers accepted is a few thousand above the M&G holding which is one hell of a coincidence! Anyway, people can believe what they want, and will. The only think I wouldn't agree with you about is that it makes no difference whether they have or haven't - because if they haven't and you expect them to, then exercising their holding would now take acceptances past GFs target!

They are including in the total and are using 'had' rather than 'have' regarding the LOI. If they haven't actually committed the votes then I think there would be basis for reporting this to the takeover Panel as its potentially fraudulent - a misleading statement with the intention of enticing others to commit votes.
In fairness to them they have always excluded M&Gs LOI votes in previous weeks announcements. So I conclude that M&G have given up

Todays RNS
'The above acceptances include those received in respect of 396,250 Bacanora Shares (representing approximately 0.1 per cent. of the issued ordinary share capital of Bacanora) beneficially held by certain Bacanora Directors who had given irrevocable undertakings to accept the Offer1 and 52,528,941 Bacanora Shares (representing approximately 13.67 per cent. of the issued ordinary share capital of Bacanora) beneficially held by M&G Recovery Fund who had given a letter of intent to accept the Offer.'

You too Mr KLUCK. We all need luck, I'm off to get my rabbits foot out of the kitchen drawer

Permission to say bugger

Kluck
Yes, sadly M&G have thrown the towel in. Think we both hoped they had seen the light and were standing out, it seemed that way. I do think their capitulation is a bad sign as it will imo encourage others to accept, especially given we don't think nominee acceptances to date are yet included in the 42%.
Funny how they have ignored their own RNS about no longer reporting acceptances - if it had remained sub 1% I'll bet they wouldn't have. This seems calculated to add pressure.
Sorry to you and Mr C about the poor wording of my earlier comment. What I meant is no AT permission = deal withdrawn = hangover on SP which I suspect, pending positive clarification on whether the AT implied wider Mexican government intentions, would suffer initially on fear to the detriment of us larger holders. Just an opinion.

Mr C
Not at all, but if the Anti Trust permissions are not given then the bid wont proceed. That is one of the pre-conditions of the bid becoming unconditional. The consequence of that, notwithstanding the obvious escalation of Lithium price since May (& September for that matter) is that a big fat question mark would hand over the SP because of a suspicion that the Sonora JV is being targeted by the Mexican Government.

Dee
Thank you, I have just received mine in the post today
John

Yes, I get that MrC. If the threat is real the bid is likely to be withdrawn. Lets hope not, many people have quite a lot of skin in the game here so i would hate that to be the reason the deal fails

Bloody hell. This is worse than Eastenders!

I assume hamster you were replying to bampster. Its all very confusing to an old bloke.
I still don't believe that Mexico will mess with China. Even if the bid collapses GF have a direct and indirect interest in nearly 2/3rds of Sonara. China is too important economically to Mexico. Anyone feel different?

What deadline?
Eventually heard from iWeb, they want to know by close of play on 8th BUT that did arrive (finally) the day that the RNS about suspension arrived after market close!
Am i right in getting the impression that we are all fairly jaded by this now?

Mr C
That Mexico anti trust investigation wont approve of the deal? If this happens the deal is off anyway

I don't think that you can jump to that conclusion, in truth no one here has expressed an opinion. The market certainly hasn't marked down the SP, which indicates not.
The email implies that the platform is yet to submit numbers accepting. which others here have already stated they suspect. This may support the theories behind why the level of acceptances are so low.

Morning Foz. Nice and early I see.
Agreed its not the actual date the cash hits your account, its the sort of 'x' date, but could still be relevant.
Going to be an interesting budget for a change, an maybe a little unpleasant! Have a good day

I will make one note about this potential delay which I don't think I have mentioned previously. We could have a situation where accepting S/Hs will receive their cash for their shares in 22/23 tax year rather than 21/22. There are rumours that nice Mr Sunak make bring CGT rates in line with income tax rates in his budget this Wednesday, so no more 10%&20%, say hello to 20%&40%&45% on gains which are, I think, deemed to the top slice of your income. This doesn't affect peeps with their share in ISA and SIPPS. Think it may be enough to persuade some to sell some of their holdings to spread gains over 2 tax years maybe if the offer looks like being delayed long. Just a thought which I though some may be interested in.

Could be for a variety of reasons.
To sweeten the deal without having to go back to their shareholders? Because ZNWD doesn't fit with their plans possibly because of dealing with the EU?

Can people stop bickering please. It really would be appreciated my most BCN posters.
None of us really knew what would happen today after the very late RNS on Friday. The surprise to me is that it has made seemingly no difference whatsoever.

tomcat
You seem to have your head around the dates here. Given that Fridays RNS is entitled 'offer timetable suspended' Is the anticipated unconditional date/ Day 60 of 14th November now history? Or could that date still be reinstated/ valid if the Mexican government permissions are received in the next few days?

That Scott chappie does seem a bit mixed up. Of all the shares he comments on PMG is easily the best performer YTD. Maybe he just got out of bed the wrong side today.

Very interesting. Fortune comes across as a very articulate, honest and intelligent guy. Feel reassured having watched it