Member Info for tomcat-14

they need 53.34% to accept the offer… giving them a total 82.22%… to go to court and get it approved under a scheme… that’s 17.78% to reject the offer / default… not 34% as is claimed in the post below… nothing has changed in this respect… except that defaults now count as a reject… so any benefit to us that we had previously from a low turnout in a scheme vote… is now lost… but we do get what would have been the none / can’t votes…

the answer to the questions why ganfeng are not increasing their holdings right now is mainly because… if they did… when they revert back to the scheme… the 82.22% total that they need would go up… and the 17.78% votes required to block it would come down…

yep… i read that… and it means that any increase in the offer as a result of the distribution… is at the sole discretion of ganfeng… it’ll take a bit more than talk from me… it needs enough shareholders to stick together and make it happen… or at least have a go…

‘the distributable reserves arising on the reduction will support the company’s ability to distribute value to it’s shareholders in relation to the distribution, should circumstances in the future make it desirable to do so’…

there’s not much time left for the company to distribute that value to it’s shareholders… before ganfeng complete their takeover… and as an equal shareholder to everyone else who owns bcn shares… i would think my share of those profits on 31aug21 are rightfully mine anyway… if you’re happy to let ganfeng have that in the deal they’ve offered… now that you know it’s value and availability to distribute it… that’s your prerogative… i think there could be a point where it will be desirable for them to use it to help get the deal over the line… in the easiest and quickest way possible…

yes… it’s unconditional at just 50%… so they are clearly going to take it regardless… it’s just harder for them this way… and i think they will be happier to change back to a scheme if possible…

i’ve now decided to reject the current offer with all my holdings… but i would pledge my vote for a scheme… if ganfeng throw in their share of the bcn profits on distribution and their value of zwld shares into the offer… preferably all cash… ganfeng can keep all of the 90,954,210 zwld shares bcn currently hold… if that’s doable…
as the previous post below… i make that £1… without ganfeng having to go back to their shareholders and ask for more…

doing the math… it takes the offer to just over 90p… but if you throw in ganfeng’s portions… i get it bob on £1… (all my own unverified math and forex = 0.72 as it was yesterday)… i’d like to vote for the cancellation of the share premium account… but on 1 condition… it’s value is distributed to shareholders during the sale of bcn to ganfeng… ;)

looks to me that they’re in the process of facilitating another method of distributing bcn profits to shareholders… by cancelling the share premium account… valued on 31aug21 at $90,954,210…

i hadn’t read the full release when i posted below… only the rns… but i have now… and it looks even better than i originally thought… ;)

i see an rns… and a glimmer of hope that ganfeng can maybe see a way of increasing their offer a little… if needed… folding your full house on the turn… might have been a little premature…

whilst your here ob… what’s your take on this bit…
acquires both…
90% or more in value of the bcn shares to which the offer relates and…
90% or more of the voting rights carried by those shares…
can brokers providing cfd’s trade these voting rights separately now…

lol… it’s a habit… automatic…

if they’re still written around a scheme… it’s still the old one… ;)

i’ve seen the original ones… based on a scheme… have they been updated yet…

The Chinese company Bacanora Lithium leads the exploration with Canadian investments from China and Great Britain with the Italian Mexital Mining… lmao… is that code for ganfeng kdnc tesla…

same here… but i’ve got a lil strategic holding that has already decided it’s going to reject the offer… my 1st time in this situation and i feel i have lots to learn letting those ride right up to the end… the rest… there’s enough profit in them to justify holding on for the zinnwald shares… so i will wait and see how it proceeds… i do get the feeling it will go at the 1st count now though…

you staying for the zinnwald bonus now then bannor… 73.6p…

ganfeng’s new takeover milestones…
100%… rip bcn…
>90%… compulsory purchase…
>82.22%… possible revert back to a scheme…
>75%… de-list…
>50%… control…
28.88%… ganfeng’s starter for 10 (concession that is)…

i suspect a lot of shareholders who were intending to vote against the scheme will do the same bannor… and won’t have the appetite to see that through now ganfeng have turned aggressive…

or is it a rollover now ganfeng have shown their teeth and decided they’re having it anyway…

what do you mean… i thought it was a simple and open question…