Member Info for KnockinOnHeavens

Jiffy,

Leave him, he's a bit handicapped. Waste of your time.

KOH

Yellow

They will take the 5.5p and write the rest off. Not a big deal for those giants, they do it all the time. You lose some, you gain some. Fraser dragged the company to the verge of bankruptcy and now the only alternative to takeover is going bust. They might even push it through without any voting in those circumstances, they can do it if the company's facing insolvency.

KOH

What I want to know and see is evidence of seeking finance to complete the shafts, and evidence as to why a Rights has not been put forward to shareholders before a 'Proposed Offer' is most likely to be accepted!
___

We will never know the truth I'm afraid. They will probably issue some general statement without going into much details and do the minimum required by law. Nobody's going to give us any extensive detailed and chronologically consistent explanations here. They may say that the other routes weren't available or failed or whatever suits their version of events, the company is running out of money therefore continuing as going concern & jobs are priorities now. I really don't believe any strategic review is still taking place, I think the preparations for the official takeover offer are taking place. Once its over their PR dept will do the magic and create an image of "AA the great saviour", BOD will make sure their backs are covered (that's what they've likely been doing since the announcement), the gov will be more than happy too. Fraser never cared about PIs and this time won't be any different.

KOH

Maybe he's just naive by nature and big boys keep taking advantage of him? First JPM with their conditional deal and now AA with their takeover offer? Either way he should be removed - clearly incapable of delivering. Shareholders value has been completely destroyed under his management.

KOH

;)

KOH

You didn't answer the question Chesh :)

Oh, the bit^^ch is pulling my trouser leg as we speak! lol
KOH

You didn't answer the question Chesh :)

Oh, the bit
KOH

anyone even observing such an act would be deemed more a degenerate than those engaged in such act
___

Well, it all happens in front of our eyes on the public forum - are you calling all users of this forum "degenerates" then?

lol

KOH

Yup Chesh - Moors in the background :)

KOH

Fraser's followers once it's over:

https://media.tenor.com/images/4aa9cfeca0907730d0ee22d4068811a8/tenor.gif

KOH

81lucky

Of course, it stinks to high heaven. All those seemingly random chains of events, 18 months of dropping SP, dragging the company to the verge of bankruptcy and the final act of selling it off for next to nothing to the corporation. This has been planned a long time ago. Fraser knew about it long time ago too. As the saying goes "don't let the fox guard the henhouse".....

KOH

Why would they increase their offer when the BoD have said 5.5p is a good price and that they would recommend it.
___

That's the point, why on earth would anyone indicate it at such an early stage? It must be a done deal, "advanced talks" and "expect to be able to recommend" says it all......I doubt we will ever know the truth behind this process.

KOH

RS would loose a lot money
___

Officially wwguk, officially.

KOH

I lost all faith and trust in c.f. and the board,been bitten so many times by them with what imo has been lies and hidden agendas.I wish all lth who still hold and who have sold well but 85% loss for me was enough and for c.f. to suggest it's a good deal well,work that one out for yourselves
___

That's the problem with that board, one can't realistically expect anything good from them. That's what really takes one's hope away - the board that doesn't act in your best interest. Why did they recommend that ridiculous offer from AA in the first week of Jan? They didn't have to do it at all. They could have just said that AA want's to make an offer and announce it without any recommendation.They could have gently indicated that the strategic review is still ongoing to calm the shareholders down (instead we rest on fragile assumption that "other options are still considered because we weren't told otherwise"). They could have been more impartial at that stage. They haven't. Why? Now they are conveniently avoiding any communication under the takeover code while the clock is ticking. They understood the effect the RNS would have on the shareholders before they announced it. Why did they decide to do it the way they did? If they intentions are so pure and their true intentions were to maximise and protect shareholders wealth from a predatory takeover or at least offer some comfort at that stage why on earth would they do it the way they did? And it's not a first time, they did it last year too. A short dry RNS last year without any extra explanation followed by period of silence felt as almost designed to make the market reaction worse. And it did. And by the way what's happened to the placing?

Awaiting another piece of communication from "our" board really feels like being a death row inmate awaiting execution.

KOH

"Sirius Minerals announced on 8 January that it is in advanced talks with Anglo American regarding a takeover. The Government welcomes any commercial outcome that enhances the project’s viability."
___

Well what did you expect from the Gov? Te mine will be completed, taxes will be paid, locals employed - happy days. I was writing about gov support delusion for months, now the same group naively believe that the Sirius "is still working" on something and expect "the others"(what others?) to emerge once the AA offer is confirmed....The only thing that the company is working on is the takeover documentation, statement to the public and the list of excuses to cover their backs.
Another day in the office of JPM, another transfer of wealth from poor to rich. Our biggest collective mistake was our naive belief that we and our families can actually profit from this "gold mine" for generations and that it wouldn't be taken away from us by corporations.

KOH

Or maybe....you just see an agenda everywhere except for amongst those directly responsible for managing the company (and including their advisors) and those who will profit directly from yours (and others) early investment...Maybe it's that simple, hmmm?

KOH

Me thinks that someone is being a littel sparing with the truth around the effects the potential offer has had?
___

Pop the champagne then, we are up....or even better send the flowers to Sirius' HQ (erhmmm I mean AA HQ) to express gratitude....

KOH

The only thing that Fraser is strategically reviewing now are takeover documentation, statement to the public and the list of excuses to cover his back. Drinks with good friend Mr Pearce of AA in Australia likely to follow thereafter.

KOH

There is still plenty in the tank here
___

There is not. We are driving on the "fuel low" warning light for quite some time and the hired driver is not responding to the owners of the car. In the same time somebody approached the driver with the offer to buy the car for next to nothing. The driver expects to be able to recommended the offer without giving any explanation and communication with the owners of the car while continuing to drive towards the cliff. The driver hasn't explained what he's been doing over the last 4 months and why he chose that particular route either. The driver expects to bank 7 mil if the transaction goes through, appointed and continue to use advisors responsible for breaking the car a few months earlier almost destroying its value and for which he pays using the owners' money. If he continues to drive towards the cliff for a little longer, a forced sale of the car for next to nothing will be the only alternative to falling off the cliff. The closer to the cliff the smaller the chances of the owners of the car to even have a right to vote about the future of the car.

Don't blame the driver he only protects your vehicle....

KOH

Using JPM as financial adviser was not a mistake and i can not put it down to naivety, it was a long draw out plan to allow Anglo to make what seems a reasonable low ball offer that cannot be refused. Sounds a bit mafioso i know. However, there are $billions at stake and the big boys always win. I looks legal, but this deal was done behind closed doors and is totally bent.
___

Of course it was. And it's not that difficult to arrange if you think about it. A seemengly random chain of events with the recommendation of the Board of Directors of Sirius Minerals. Nobody can tell that the BOD of Sirius led by Fraser does their best to protect the shareholders from the predatory takeover attempt. From the beginning It feels like they are playing on the same team.

KOH