The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
".. B Shares of 1 penny each will be issued to all Shareholders on 19 April 2024 by way of a bonus issue at a ratio of 4.26159039 new B shares for each Ordinary Share held at the Record Date of 6:00 p.m. on 18 April 2024. "
So presumably if I were to sell all my VSL shares tomorrow before 6:00pm, I would not be issued with any B shares. Is that correct?
This return is not a dividend so the usual ex-divi date being a day before the record date does not apply.
Golden Metal Resources CEO Discusses Significant Magnetic Geophysics Results at Garfield #gmet
https://www.youtube.com/watch?v=64IZtnrhym4
Https://www.londonstockexchange.com/news-article/SHG/regulatory-approvals-update/16425723
"Shanta is now pleased to announce that Shanta and Bidco have received unconditional approval of the Acquisition from the Tanzanian Mining Commission."
"Completion of the Acquisition remains subject to the satisfaction or, if applicable, waiver of the Conditions set out in the Scheme Document including, inter alia, the receipt of regulatory approval from the Cabinet Secretary for Mining, Blue Economy and Maritime Affairs in Kenya and the Court sanctioning the Scheme at the Court Hearing."
Trading continues because the Scheme Court Hearing date (D) has not yet been fixed.
8th April RNS:- https://www.londonstockexchange.com/news-article/SHG/regulatory-approvals-update/16412624
Further Conditions and Timing Update
Completion of the Acquisition remains subject to the satisfaction or, if applicable, waiver of the Conditions set out in the Scheme Document including, inter alia, the receipt of regulatory approvals from the Tanzanian Mining Commission and the Cabinet Secretary for Mining, Blue Economy and Maritime Affairs in Kenya and the Court sanctioning the Scheme at the Court Hearing.
The Acquisition is expected to become Effective in H1 2024, subject to the satisfaction (or, where applicable, waiver) of the Conditions.
The expected timetable of principal events for the implementation of the Scheme remains as set out in the Scheme Document and is also set out below.
Scheme Court Hearing
A date ("D") expected to be on or not later than 21 days following the satisfaction or (if applicable) waiver of the applicable Conditions set out in Part 1 of PART III (Conditions to the Scheme and the Acquisition) of the Scheme
Https://decagonam.com
Moved up to 2.77% on 19 March, now at 3.85%:-
https://www.londonstockexchange.com/news-article/market-news/form-8-3-shanta-gold-ltd/16405769
Maybe we can persuade Mog24 to forward that "...secure message from HL stating that it was Shanta that had told them to nullify the previous votes..." to thomas.grace@thetakeoverpanel.org.uk
Posting again, in case Mog24 spots it.
MattyBoy - good idea - but that message from SHG was sent to Mog24 - see yesterday 18:02hrs.
Maybe you can persuade Mog24 to forward that "...secure message from HL stating that it was Shanta that had told them to nullify the previous votes..." to thomas.grace@thetakeoverpanel.org.uk
So on the one hand we have:
"Shanta Shareholders who have already submitted validly completed Forms of Proxy, or submitted proxy instructions through CREST, for the Court Meeting and the General Meeting, and who do NOT wish to change their voting instructions, do not need to take any further action as their previously submitted proxy voting instructions will continue to be valid in respect of the Court Meeting and the General Meeting in connection with the Increased and Final Offer."
https://www.londonstockexchange.com/news-article/market-news/recommended-increased-and-final-offer/16383348
and on the other we have:
"... a rather panicked secure message from HL stating that it was Shanta that had told them to nullify the previous votes..."
Is it really the case that Shanta told, via the increased offer RNS, shareholders that they do not need to vote again, while at the same time telling brokers to nullify the shareholders previous votes?!!
Yesterday, Konwave sold 2% and Decagon Asset Management LLP moved up about 0.8% to 3.5655%
https://www.londonstockexchange.com/news-article/market-news/form-8-3-shanta-gold-ltd/16389530
Https://www.londonstockexchange.com/news-article/SHG/form-8-3-shg-ln/16351640
Sand Grove Capital Management LLP 39,650,000 3.77% 26th Feb 2024
https://shantagold.com/investors/stock-share-information/
Sand Grove Capital Management LLP 44,090,000 4.2% 1st March 2024
Just come into my ii account - 15% withholding tax applied.
SAMSON ROCK CAPITAL LLP bought 625k at 13.5p on Friday - now up to 4.64%
Decagon Asset Management LLP also bought 625k at 13.5p on Friday - now up to 2.108%
https://www.londonstockexchange.com/news-article/market-news/form-8-3-shanta-gold-ltd/16371327
https://www.londonstockexchange.com/news-article/market-news/form-8-3-shanta-gold-ltd/16371544
posting again, as a gremlin has removed the caps in my 17:48 posting!
interesting to see if it does go above 13.5p to buy during the coming week, even if there is no improved offer. some potential buyers of shg shares may be of the opinion that there is very little chance of the 13.5p bid ever being voted through and also of the opinion that the sp will rise well above 13.5p if the patels pull out completely. as a result they may well be prepared to buy above 13.5p in the coming week. the company has so much going for it, especially with the price of gold where it currently is and where it is likely to move to in the near future, that it is certainly worth well in excess of 13.5pps currently.
https://shantagold.com/investors/takeover-offer/documents/ see pages 17-19 of the scheme document for the very weak arguments for the 13.5p bid. reasons for judging the case put forward on those pages to be of little merit have been well rehe****d on this bulletin board, including the sp being held back by a known, forced seller. in those pages, the problem of illiquidity is mentioned. however the company may well now in a sufficiently strong position for any significant holder who wants out to do so via a seconday placing at around 13p.