RE: Update on Formal Sale Process RNS 14th January18 Jan 2021 06:25
Here here R1CHARDO…..I still cannot believe some people think the last RNS was in anyway negative, here are my personal thoughts, Good luck guys but I know we don’t need it.
Eurasia Mining Plc
Update on Formal Sale Process
Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to provide an update on the Formal Sale Process initiated by the Company under the UK Takeover Code.
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.
“And have to date received non-binding offers”
• Multiple buyers making offers, and/or 1 or more buyers making several offers rising each time after knock-backs by the BOD.
“Possible acquisition of the Company as well as other transaction structures”
• This is obviously why the deal is taking so long, it could well be we sell the whole company for a minimum of £1.20/share (IMHO)….it is equally possible it could be a complex partial sale/shares and cash offer still WIN/WIN for us guys.
Progress to date has been slower than expected reflecting the complexity of the process, involving several parties and structures, as well as external factors including COVID-19 related travel restrictions, and more recently delays resulting from western and Russian holiday periods. 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.
“Progress to date has been slower than expected reflecting the complexity of the process, involving several parties and structures, as well as external factors including COVID-19 related travel restrictions”
• Of course COVID is lengthening the process, these are unprecedented times, we need to be patient and let the board do their thing
“More recently delays resulting from western and Russian holiday periods”
• This is beyond doubt the KEY take away from this RNS….Why would you even mention a period of a few weeks holidays impacting such an immense sale process?.....Because it HAS!!….it shows that something would have been revealed in the last few weeks of 2020/first weeks of 2021…….DFS more than likely and then Binding bid?....most probably !!
“Until a transaction is finally concluded there can be no certainty that a transaction will occur or on what terms”.
• Standard Caveat at end of all FSP RNS’s…has to be on there basically
Further announcements will be made when appropriate.
We are very very close guys, keep the faith!
GLA
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