Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Taverham,
But still having to pour cash into the pension fund. This is a drag and will make any raider think before jumping.
Oversubscribed, yes, but not by much. Perhaps suggesting that most shareholders are happy to be in for the long haul.
The final para of the RNS left open the possibility of the Ziffs increasing their own shareholding.
I find it odd that a dispute goes to Court. Commonly the contract for sale will have an arbitration and/or audit clause to adjudicate any post close dispute.
Even if HFD win in the Court, they will still have to enforce the reward, and that may prove difficult.
My gut tells me not to accept. Perhaps MMS are maintaining SP below the tender price so as not to undermine the tender, but who knows. And in the long run the Ziff family must be talking at their dinner table about going private sometime.
The key is held by the Debenture holders at present, but a deal will have to be done with them sooner rather than later as the redemption date is drawing ever closer.