The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Andy, I've tried to assess the actual worth of this option for sometime, no one appears able to quote chapter and verse. Your reference mentions Rosglens as owner of the balance of shares; research leads me to a private bank in that name. Would they have been involved in Grangesberg 's financial dilemmas many years ago?
I'm told we have first option, is that really all it's hyped up to be? If the 50% was valued by the bank at (example only) say 3€, Aym value it at 2€ and I as a third-party am prepared to pay 5€, where do we stand?
The other major factor is that all of Asset Valuation updates are not promising Jam today but someway down the road.
Food for thought.
Regards
Roddy
So Georgie, what are the terms?
Do we only have first option or do we have a juicy purchase price? It sure makes a big difference on potential funding?
I sincerely hope that the share is suspended pre any announcement and that it's not unsuspended until after flow levels are established and the company's market value rerated.
Bob
I have asked several times recently about this option and it's terms, up to now it would appear that that the important terms and conditions are not in our domain. If you scroll back through the RNS history there are various references, but clarity there is not! Does the Agreement have to be reinstated each year and what does it actually entitle the holder to, first offer, and how would that be funded?
Without the detail it's very difficult to assess the actual benefit and what it's worth.
Looking forward to meeting you in September.
Best wishes,
Roddy
Brent, enjoy the Jubilee Celebrations!
Hi Brent
You keep saying that Joe will provide all the answers in September, does that mean there won't be any updates before then? The update on Sweden is becoming seriously overdue. Since you're close to Joe can you explain to all on here the terms of the Option Agreement for the 51% of Grangesberg.
P.S.
My wife is getting excited at the prospect of this Rave in Sept.,the arm waving dancing ,volcanic upwellings and Jumbos.
What do the Druids in N.Wales get up to? Oh I cannot wait.
Thanks smkr,
I had seen that.I was actually seeking clarification on the detail of the option. For instance Rn s on 29/9/14 states that at that point there is one year to run,expiry 2015.
Other RNS refer to the payment of a nominal amount to trigger the option and on doing so it places a one year limit on actioning that privelege. There is also mention of a fixed sum payment to acquire the additional shares and if that's the case then the purchase price could be significantly below the value of the purchase in which case the need for a large fund raise would be unnecessary.
Smkr if you can advise on the terms of the option that would help us all decide the prudence of committing further monies.
Your help is much appreciated.
Honestbob,
Perhaps Brentharg@aol.com could help us now by emailing JOE and asking for clarification. Understanding this important agreement now,not in 3 months time,will help us all have a better grasp of the situation as matters develop across the year.
In anticipation thanks Brent.
Nomlungu
Don't know WHERE you WHERE in 2020 but the whole world was shut down because of the Pandemic.
You were probably in No.10 having ****tails.
That's what's unclear, the historical notes mention the payment of a small fee for this preferential position and also suggests a time limit. They also mention a nominal purchase fee. I don't know if that remains applicable?
If the current stagnated shareprice reflects Sweden then It is a tiny amount. Yes that suggests considerable upside when the addition is purchased, however if the price is based on valuation then it will cost more and then it has to be funded presumably through the issue of shares? Dilution!
I'm with you Sageman. George is a very astute Financial Engineer and he has managed to bring a project which was on it's knees through three years of world economic turmoil and turn it into a prospect with huge potential. Given this background a little slippage along the way is to be expected. I think G L aims to take this vehicle much further.
I will most definitely be voting, YES.
Thanks, I'm aware of that. Question is have they agreed a price in advance,or is it subject to valuation and is it on a first call basis?
George,
Could you please tell me what that process is? Having read the material it's not clear what is or isn't current
Georgie the Belfast Boy.
Been itching for months to post that,no offence meant.
That's the unfortunate position with this share you have to go back 8 years to try and piece together what the actual contractual position with Sweden is? You are correct that reference was made to Sweden in February this year with results expected Feb/Mar, April has gone and June is within a few days.
Zzzzzzzzz
I would be +1 ,probably take a break and cross to Ireland.
Brentharg
I would like to come, some years since I've been to Anglesey, last time to Holyhead and Ireland. Could be very informative.
Brent...
Are you certain you heard Jo correctly? Being so close to the mountain it could be that he's not receiving S4C???
Should the PFS confirm previous estimates or better then realistically how much would it cost to purchase the 50.1% and how would that be funded? Thanks
Winn
At least they can put a glossy mag together, looking at your posts, you have great difficulty in putting a few words coherently together!
Cheap jibes ,I'm believing even more that you could be the Office Junior responsible for filing???????