RE: Solgold22 Jul 2020 07:09
Good morning ToS1963, I don't believe Solgold would be breaking rule 9, as external parties would have to have been approached, and the company bidding be actively share building. All the protagonists, are not in that phase. I have always maintained, that the distribution of the share register, made this difficult to launch a friendly takeover, that they would have to go hostile. I have seen no evidence, that anyone has been approached to say, how much would you sell, your holding to us for. Although you could argue, that's exactly, what NCM are attempting to do. In this case, I maintain, that if the BOD, was approached with an offer, it could be rejected at board level, forcing the bidder to go hostile, if they disagreed with the board, on wherever, this was a serious bid or not. But in order to do that, I suspect, other major shareholders, would need to be consulted before, to see if their bid had any chance of success. I see no evidence, and don't believe BHP would behave in this way, as their standstill agreement, precludes such behaviour. I also don't believe NCM, would let their holding go, as they know what they have. I think, they would like to add, but fear dilution, not in general, but to their shareholding, hence not liking the Franco Nevada deal. NM has seen that this is the best outcome for all shareholders, and we are no doubt in an exciting phase. All the best .