I think its very close indeed,it would make sense to have both companies halted in trading now and not least because Newfield are aware that folks buying stellar at this level are getting a better deal than even their rights issue under-writers.Its game on now !
No they have already told you that the ex-rights price will equate to near bang on 10p per stellar share,however you have to consider that as a result of this merger we will have a fully funded to production new enlarged company that has some very exciting assets.The value of our new Newfield is likely to rise significantly out of this merger and likely to head back to $40c - $50c or circa 20p per stellar share. This deal could all by tied up early next week IMVHO that's why we have had the disclosure Rns,s released,
RNS from Newfield out and we can see two names on the list where the loan book is ! It is game on :-) Newfield Resources Limited The Panel on Takeovers and Mergers 10 Paternoster Square London EC4M 7DY Attention: Ms Amy Grammer 9 February 2018 Dear Ms Grammer, RE.: POTENTIAL OFFER FOR STELLAR DIAMONDS PLC Further to our letter dated 5 February 2018, we now enclose the Company's Opening Position Disclosure, together with Opening Position Disclosures provided by Company shareholders. Kindly note that these disclosures are made as at 9 February 2018, and with respect to each shareholder's holding in Newfield Resources Limited, are based on the shares on issue at that date, being 270,583,335 fully paid ordinary shares. The disclosures will be posted to the submission platform RNS Submit. For your convenience, we have grouped all of the disclosures that relate to Stellar Diamonds plc together, and all of the disclosures that relate to Newfield Resources Limited together. A summary of the disclosures is shown below. Yours faithfully Kim Hogg Company Secretary Newfield Resources Limited 1/Citicorp Nominees Pty Limited /Unable to confirm 2/Rustiyan Oen/51,793,028 /19.14% 3/ PT Griyainsani Cakrasadaya /25,000,000 /9.24% 4/Wonder Holding Pty Ltd/19,858,334 /7.34% 5/QP& Co Pty Ltd /10,500,000/3.88% 6/Anrinza Future Pty Ltd/10,418,185 /3.85% 7/Ka Bio ONG/8,200,000 /3.03% 8/Sparkle Capital Pty Ltd/21,860,613 /8.08% 9/HSBC Custody Nominees /Unable to confirm 10/Chewkart Super Pty Ltd/4,660,000 /1.72% 11/Renewable Holdings Pty Ltd/4,525,479 /1.67% 12/Robert ANG/4,160,300 /1.54% 13/Serng Yee LIEW/3,886,090 /1.44% 14/Leonard HARTANA/3,256,771 /1.20% 15/Goodrich Capital Pty Ltd/ 3,000,000 /1.11% 16/Octavianus BUDIYANTO/2,973,819/1.10% 17/James ARIPIN/2,973,819 /1.10% 18/David PURSELL /2,800,000 /1.03%
I would have thought it would be an instant transfer of funds over the wires,the key thing for me though is that the process has started.Newfield know full well that if this merger deal does not happen they are highly unlikely to ever see that 3m loan re-payed so to me its a sign THE DEAL IS ON. From Todays Newfield Rns: As previously announced on 1 February 2018 in the Companys non-binding indicative proposal to acquire Stellar Diamonds Plc, the funds raised from this Placement will be applied towards:a US$3 million loan to Stellar Diamonds Plc, which will be utilised to commence a Front End Engineering Design programme on the Tonguma Project in Sierra Leone. The Company confirms the loan funds have been advanced today;
Newfield have released an Rns stating they have advanced 3m to Stellar but thus far no Rns from Stellar ! So I would say if we do not get one by market close tonight we either have a very significant news release after hours tonight with both companies or an overnight trading halt at Newfield and an Rns from stellar first thing tomorrow and it could even be that they have agreed final terms.The indicated offer equates to 12.7p per stellar share but could be worth a lot more in future with our new merged fully funded to production company. The reason I say that is surely Stellar would have issued at least even a standard Rns stating they have received the funds from Newfield overnight.So something bigger afoot IMVHO and they have more to say !
I say again there is something else to consider here - Newfield know full well that they are highly unlikely to get their �3m back if this merger does not happen,so we can draw the conclusion that Newfield are either very charitable lol or they have a high degree of confidence this merger is going to happen.Its game on IMO
Errr yes they have read the release carefully ! As previously announced on 1 February 2018 in the Company�s non-binding indicative proposal to acquire Stellar Diamonds Plc, the funds raised from this Placement will be applied towards: � a US$3 million loan to Stellar Diamonds Plc, which will be utilised to commence a Front End Engineering Design programme on the Tonguma Project in Sierra Leone. The Company confirms the loan funds have been advanced today;
Newfield have released an Rns stating they have advanced �3m to Stellar but thus far no Rns from Stellar ! So I would say if we do not get one by market close tonight we either have a very significant news release after hours tonight with both companies or an overnight trading halt at Newfield and an Rns from stellar first thing tomorrow and it could even be that they have agreed final terms. Reason I say that is surely Stellar would have issued at least even a standard Rns stating they have received the funds from Newfield overnight.So something bigger afoot IMVHO and they have more to say !
Something else to consider here - Newfield know full well that they are highly unlikely to get their �3m back if this merger does not happen,so we can draw the conclusion that Newfield are either very charitable lol or they have a high degree of confidence this merger is going to happen.Its game on IMO
Interesting that stellar did not put out an Rns before market open today stating a standard "we have received the funds from newfield" which tells me that perhaps stellar have more to say (so they may announce something on the merger ) IMVHO
Newfield News release : Newfield Resources Limited (�Newfield� or the �Company�) is pleased to advise it has received proceeds of $7 million from Tranche 1 of a twotranche placement to raise an aggregate of $10 million at $0.20 per share(Placement). Tranche 1 of the Placement is now complete with the issue of 35,000,000 fully paid ordinary shares to existing institutional and sophisticated shareholders at $0.20 per share. As previously announced on 1 February 2018 in the Company�s non-binding indicative proposal to acquire Stellar Diamonds Plc, the funds raised from this Placement will be applied towards: � a US$3 million loan to Stellar Diamonds Plc, which will be utilised to commence a Front End Engineering Design programme on the Tonguma Project in Sierra Leone. The Company confirms the loan funds have been advanced today; � advancement of Newfield's existing projects, namely, continued exploration work on its Allotropes Diamond Project in Sierra Leone and its gold projects in Kalgoorlie, Western Australia; and � general working capital. The relevant ASX Appendix 3B and Notice under Section 708A(5)(e) of the Corporations Act 2001 follows this announcement.
Nice ! so Newfield have advanced the funds already to Stellar :-) I doubt very much they would have done this unless there was some major probability that the merger will happen.I think we are very close to an announcement now that both parties have agreed final terms.So stellar will be releasing an Rns today ! Remember Indicitive offer of 12.7p per stellar share (10p post rights )
Amazingly we are now priced at 200% below the Indicated offer price ! someone somewhere is going to lose big if Stellar announce a done deal and request a trading halt.....stellar should suspend the shares now IMVHO
Worth reminding ourselves where we are ? Newfield made an offer and we can see the indicative terms of the offer,stellers ceo stated on the vox interview that any other option to develop on their own would have diluted shareholders to a punishing degree hence his and stellar boards enthusiasm for this deal.The outcome of this deal will result in a fully funded to production merged company with highly prospective assets in some of the best real estate in diamond mining.So unless something extraordinary happens this deal will go through because both parties get a great outcome and both sets of shareholders end up in a far better place than before and able to benefit from some superb potential upsides. Although the deal implies a post rights value of stellar shares at 10p ( 100% higher than today,s closing price ) in reality a new merged fully funded company is going to attract a new tranche of further new investors onto the share register and in my opinion get a steady re-rate.So in my opinion the new enlarged funded Newfield could trade back into the $40c - $50c region where it has been not that long ago.That would make our stellar shares equivalent value around the 20p per share region or 4 times the current stellar shareprice.So there is some genuine upside on offer here on both fronts not just the 100% instant uplift in our value. Continued : I spent several hours yesterday looking through the structure of both companies including various loan agreements and articles of association,and I see nothing that will hold up what could be a very smooth merger deal.Luckily our partner is listed on a properly regulated exchange which is also a big bonus when dealing with mergers and acquisitions.
Worth reminding ourselves where we are ? Newfield made an offer and we can see the indicative terms of the offer,stellers ceo stated on the vox interview that any other option to develop on their own would have diluted shareholders to a punishing degree hence his and stellar boards enthusiasm for this deal.The outcome of this deal will result in a fully funded to production merged company with highly prospective assets in some of the best real estate in diamond mining.So unless something extraordinary happens this deal will go through because both parties get a great outcome and both sets of shareholders end up in a far better place than before and able to benefit from some superb potential upsides. Although the deal implies a post rights value of stellar shares at 10p ( 100% higher than today,s closing price ) in reality a new merged fully funded company is going to attract a new tranche of further new investors onto the share register and in my opinion get a steady re-rate.So in my opinion the new enlarged funded Newfield could trade back into the $40c - $50c region where it has been not that long ago.That would make our stellar shares equivalent value around the 20p per share region or 4 times the current stellar shareprice.So there is some genuine upside on offer here on both fronts not just the 100% instant uplift in our value.
I forgot to say earlier that both companies have indicated in their separate news releases that this will be a swift deal once the deal is actually signed.The more I read of Newfield the more I like and I see a lot of Synergy between the two managements on how to progress these fantastic assets. The way i see it - The ceo outlined some timelines in his vox interview,firstly he said they first started negotiations at the back end of last year which shows that alot of work on this deal has already been done and is in the bag and he stated they are now moving to agreeing final terms of the merger,with the whole thing being concluded in around 8 weeks or so.So for that to happen IMO they would have to be concluding final terms and inking the deal during the very near future (possibly during the next ten trading days or so).What will happen then is the wheels will then get into motion quickly with the funding and shareholder approvals and court application etc Newfield and Stellar can do this deal swiftly because the structure of both companies is not complicated and both managements have the same outlook and goals.From both shareholders point of view we end up with a company that is fully funded to production with some very attractive upside and NPV,s on the assets,and the indications are that the new merged company could do very well in the future with this mix of assets.The beauty of this deal is that both companies and their shareholders get mutual benefit from the outset and the creation of the new merged and enlarged company results in both sides being in a far stronger position than they were previously as two seperate entities. I think it highly likely that when they announce final terms have been agreed(,which could be very shortly ) both companies will request a trading halt,so if anyone not a holder at that point you will miss out on an initial 100% gain with potentially a lot more upside to come.So its game on !
I must say I have been through the outlined deal several times very carefully and all I see is upside for both parties in this deal,and let me tell you they do not need to employ dozens of holy men with shovels because this is one of the hottest kimberlite zones on the planet and the chances of some big one off finds within the quoted ROM estimates must be very high indeed.That is why I intend to hang on to my new Newfield shares when I get them and even consider averaging up ! You do not get the chance to double up to quadruple investments in a short timescale that often with a nailed on instant gain of this magnitude. We get could get an Rns confirming they have agreed final terms any moment,and I suspect both companies will request a trading halt at the same time.So anyone not holding the shares at that moment will miss out on some super instant gains,let alone the gains that the new company may make in my opinion. Remember the indicative price per stellar share equates to 12.7p,if Newfield get a re-rate post deal to near their former levels (considering they fully funded to production ) we could be looking at 15p to 20p value for our shares here.Looking abit further into the future if things go as planned the upside could abit tasty IMVHO
In my opinion your shares here are likely to be worth 15p to 20p not long after the new enlarged fully funded company gets going,you can actually buy here below even below Newfield,s rights issue price at moment and I suspect if this continues for too much longer Newfield may request that Stellar halt trading ( because it is letting folks in to what will be a new enlarged fully funded company too cheap and below their biggest investors backing the rights issue )The uk brokers and cfd providers that are currently lending out your shares to shorters and others may soon have one hell of a headache as those shares are called in - quite simply they have to close the gap and start matching the pricing of the indicated offer which is 10p - 13p per stellar share. I personally think the new NEWFIELD will be trading in the $40c + range within 6 months of the re-launch putting our shares value closer to 20p.That is why I am adding more :-)
If you do the calcs anyone buying STELLAR at moment is equivalent to Newfield at just $13c ! who are trading at $30c so their is a gap here that is simply too big.Fully funded new company :-)
Yes ! read again The way i see it - The ceo outlined some timelines in his vox interview,firstly he said they first started negotiations at the back end of last year which shows that alot of work on this deal has already been done and is in the bag and he stated they are now moving to agreeing final terms of the merger,with the whole thing being concluded in around 8 weeks or so.So for that to happen IMO they would have to be concluding final terms and inking the deal during the very near future (possibly during the next ten trading days or so).What will happen then is the wheels will then get into motion quickly with the funding and shareholder approvals and court application etc Newfield and Stellar can do this deal swiftly because the structure of both companies is not complicated and both managements have the same outlook and goals.From both shareholders point of view we end up with a company that is fully funded to production with some very attractive upside and NPV,s on the assets,and the indications are that the new merged company could do very well in the future with this mix of assets.The beauty of this deal is that both companies and their shareholders get mutual benefit from the outset and the creation of the new merged and enlarged company results in both sides being in a far stronger position than they were previously as two seperate entities. I think it highly likely that when they announce final terms have been agreed(,which could be very shortly ) both companies will request a trading halt,so if anyone not a holder at that point you will miss out on an initial 100% gain with potentially a lot more upside to come.So its game on !