Member Info for mac4671

These guys n gals don't mess around -

https://www.legalcheek.com/2021/01/baker-mckenzie-dla-piper-and-dentons-beat-magic-circle-rivals-in-2021-brand-power-list/

GLA

It has to be part of it all ibiza, the time between non binding deals on the table RNS and then this, all points to it being part of moving to a binding situation. It may well have concluded and we get the deal RNS first thing. All we can do is wait and see what comes.

GLA

Binding requirement imho, the more i think about it, the more it points to exactly that. He was like an awkward third arm at WK, well, where it comes to selling it to a buyer. Paperwork should be straight forward. They all know exactly what they're doing, all professionals at the top of their game.

Not worried in the slightest, but, i do understand frustrations from some with a higher average, no one saw that RNS coming.

GLA

I do Pompal, cheers. It's a complex deal, the RNS on Jan 14th told us all that. I believe the sale is all part of the process, the third party small holder at WK moving out of the way to make final paperwork more straight forward?. Who knows, but, everything to date has ran very well, DLA Piper are still here and so are UBS and Citic.
I'm fully expecting some news to drop tomorrow to shed some light, as shareholders, we at least deserve to know what the move is all about at this stage, even more so after that totally over done drop out of the blue.
Most seem keen to forget that both UBS and Citic are here on a success fee basis, that means the deal/s needs to be done for them to get paid, end of.

GLA

It's all a bit mental tbh. God knows what's going on any more. Deals are on the table, they were on the 14th, we've had no news to suggest otherwise. We'll get an update first thing, they will have to update on that rumour now.

GLA

That's WK sold if you ask me, news will drop shortly. He may have just got 29p for his WK shares, if that's the case then we may have all underestimated the final sale price.

GLA

"How the fk can you sell 27m shares at full bid?" - Someone has bought them, that's how. In fact, tbh, it's the only way. Someone somewhere has just confidently forked out nearly £8m at 29p.

GLA

Quite a lot of what has materialised with Eurasia is down to that man -

https://www.lse.co.uk/rns/EUA/senior-management-team-appointment-kt1zyh9xyapqfu9.html

GLA

You're talking nearly £8m worth of shares, someone has bought them. He was given X amount for helping with the deal, has not received any pay to date. The deal has to be done, his whole motivation was attached to what he was given and getting the job done -

"·; Mainly for his assistance with Lesego Platinum and to ensure Mr. Churakov's motivation without further dilution of Eurasia shareholders, Mr. Dmitry Suschov has transferred 25.472% of the share capital of DELOAN INVESTMENTS LIMITED ("Deloan") (a company beneficially owned and controlled by Mr. Dmitry Suschov) to VENUS GARDEN HOLDINGS LIMITED a company beneficially owned and controlled by Mr. Churakov for a nominal consideration with effect from today. Deloan holds a substantial shareholding in Eurasia."

GLA

We all noticed that weird period where it didn't do anything, almost lifeless SP. It all has to be above board as it's all ran under the takeover code, look at the funds now involved, they wouldn't take any nonsense.

GLA

Rules 8.1, 8.2 and 8.4 of the Takeover Code (the "Code") - They're all top do with offers :

8.1 DISCLOSURE BY AN OFFEROR
(a) An offeror must make a public Opening Position Disclosure:
(i) after the announcement that first identifies it as an offeror; and
(ii) after the announcement that first identifies a competing
securities exchange offeror.
(b) An offeror must also make a public Dealing Disclosure if it deals
in any relevant securities of the offeree company or any securities
exchange offeror during an offer period for its own account or for the
account of discretionary investment clients.
(See also Note 12 below.)
8.2 DISCLOSURE BY THE OFFEREE COMPANY
(a) An offeree company must make a public Opening Position
Disclosure:
(i) after the commencement of the offer period; and
(ii) if later, after the announcement that first identifies any
securities exchange offeror.
(b) An offeree company must also make a public Dealing Disclosure
if it deals in any relevant securities of the offeree company or any
securities exchange offeror during an offer period for its own account
or for the account of discretionary investment clients.

8.4 DISCLOSURE BY CONCERT PARTIES
A person acting in concert with any party to an offer must make a public
Dealing Disclosure if he deals in any relevant securities of the offeree
company or any securities exchange offeror during an offer period for
his own account or for the account of discretionary investment clients.
(See also Note 12 below.)

GLA

It could be part of the deal to the buyer, like most have already mentioned, those shares have been bought. Who can stump up that amount at this stage of a FSP?

GLA

News is inbound, i imagine 7am will be reveal all time if nothing lands before then. They have to update at this point in time.

GLA

He's on the BOD, he's an insider, so, i'm pretty confused that the form landed in all honesty. He owned a percentage of West Kytlym, so could this be his part of that going?

No idea what else to say, certainly not expected.

GLA

Is this -

"Since launching the Formal Sale Process on 1 July 2020, Eurasia and its advisers have engaged with a wide range of parties, and have to date received non-binding offers in respect of both a possible acquisition of the Company as well as other transaction structures."

"Notwithstanding these factors, discussions regarding proceeding to binding proposals are continuing. Until a transaction is finally concluded there can be no certainty that a transaction will occur or on what terms."

Tick tock, tick tock, tick tock.......

https://www.youtube.com/watch?v=U3JEORDUEqc

GLA

Culmination -

noun
1.
the highest or climactic point of something, especially as attained after a long time.
"the deal marked the culmination of years of negotiation"

"As you are aware, our Company is now in an offer period and has appointed several professional advisers including UBS on investment banking side and recently DLA Piper on the legal side to work with the Company through the sale process. This strategic decision was the culmination of many years of hard work by our team in realising the value in our projects."

https://www.lse.co.uk/rns/EUA/interim-report-z4vq8goh3rc2usr.html

CULMINATION ladies and gents.

Parties interested In MT, have been interested for years now. The company has simply taken their assets through development loopholes in order to get maximum value as a seller -

"A detailed work programme for future activities at Monchetundra has been prepared. However since then Eurasia Mining has received two approaches from third parties who have expressed an interest in acquiring outright, or acquiring an interest in, the Monchetundra licence.

The Company has therefore engaged in commercial negotiations with both parties with a view to considering and negotiating a suitable transaction that is in the interests of all parties, but specifically Eurasia shareholders. This process has recently included site visits to the project and from which positive feedback has been received."

https://www.lse.co.uk/rns/EUA/strategic-and-operational-update-7dsdelsdkxz5jen.html

It's crystallise substantial value from our Monchetundra time, ladies and gents -

"Should the Company crystallise substantial value from our Monchetundra interests it would be a highly significant achievement, however whilst discussions continue it is important to progress the asset on the ground. By securing a Discovery Certificate for the licence and by pursuing various exploration and development steps, we believe we can add significant value to our interests and increase the degree of commercial interest, for any parties wishing to engage with the project."

https://www.lse.co.uk/rns/EUA/monchetundra-operations-restarted-k5qgv48x511odqt.html

DLA Piper is the very last part of the formal side of things, the legal purchase & sales contract.

"Since launching the Formal Sale Process on 1 July 2020, Eurasia and its advisers have engaged with a wide range of parties, and have to date received non-binding offers in respect of both a possible acquisition of the Company as well as other transaction structures."

Tick tock, tick tock . . . . .

GLA

"Multiple offers confirmed and we’re still at 30p!" - That bit's quite mind boggling tbh, as it shot higher on weaker news. Deals on the table is a significant milestone within the current FSP, the longer past the announcement we go, the more likely the binding deal news is going to drop, they can't work on it forever.

GLA

They know what they're doing . . . .

https://www.msn.com/en-gb/money/other/ubs-cautious-on-economic-outlook-despite-137-per-cent-jump-in-profit/ar-BB1d5RMD?ocid=entnewsntp

Relax.

GLA

Get the jump leads onto it lol

It's been odd for a while tbh, but today is at a different level. How long from non binding to binding, that has been the question from the 14th, every day is time spent on it.

GLA

Longer buy in opportunity for many who arrived a little later than others tbh. People at this stage know that there are offers on the table, so are in the best possible position to add imho.

GLA