Member Info for tootight

Potentially,assumption, is unfortunately all we can do at the present time, more meat on the bones will come we just have to wait, hopefully it will be worth it.

Should see a bit of interest today.

Would like to say I wish them all the best.

But I don't.

It is a AIM share in SA, so always open to this type of shenanigans.

Not quite sure, when I get some time will try and check that.

New shares as in new to the takeover bidders total

Just under 6% more needed, not a huge % but highly unlikely to be achieved, if a second more appropriate bid for us left if this one is unsuccessful is placed, will it be nearer the IDC recommendation.

The consortium could move forward with the funding, they will own the vast amount of shares and be happy with that, maybe buy on the open market untill enough shares are in their hands to push though the takeover, or give a more fair offer price.

The IBC preferred value of 0.285 A$ per share would cost roughly the takeover group 18million pounds(£).

If this takeover does fail hopefully to gain full control the group will come back with a offer more substantial.

Many wont want to sell at the IBC preferred value still as the up side of production is great, A concern is a split board and money drain.

Time will tell, but i am holding until a more suitable offer is placed or we go bankrupt.

Results of Offer announced on ASX, RNS and SENS

Monday, 15 April 2024

With less than 30% in public hands looking more and more like a done deal.

MC Mining interim loss widens as coal prices tank and costs balloon

MC Mining hit by soaring costs in first half.

Not great reading, let's see what their report brings.

I would like some info on the early extraction of coal at makhado, hopefully in half year results, then I will make my decision 80/20 against at the present time.

Saying the takeover bid is unsuccessful where then. Having a board working together hasn't enabled MC Mining to get the funding required, a disjointed company isn't going to be that appealing.

Hopefully the early extraction of coal is achievable to boost funds and all concerned join forces if not could get very messy, drawn out and unproductive.

All the timelines are in the RNS which are set going forward unless bid is withdrawn,I’s dotted T’s crossed, what hasn’t been made public is the company’s response other than ‘take no action’.

The company will respond with a target statement, which hopefully will be their words, highlighting the value unlocked IF we get funding, as per sandman99 previous post funding hasn’t been easy to secure,and a independent expert report, maybe like the Tennyson report but shorter bullet points.When these are released sooner rather than later it will give investors a fair and balanced view.

I would also like the company to release details on their accelerated coal production plans and funding requirements, personally i dont think its possible a smoke screen against whats happening but some clarity would be good.

Myself, i wont be taking up the buy out offer at this moment in time but if no counter argument appears makes one wonder.

If yours Kievsky, could of had a nice holiday with the funds away from this snow and rain.

Hope it comes good at some point for you.

Reply to the bidders statement.

The RNS 2 February 11.30 am clearly highlights a reply will be forthcoming, no timeline.

Regarding the Independent Board Committee hope that arrives sooner than later, can't say 'take no action' much longer, need a reply.

The plans to extracting coal early also need to be made available, if feasible could lead to interest, personally I believe it's not and clutching at straws, but the professionals on the ground know a lot better.

Hopefully unsuccessful

Kick kick kick.

Never thought those early ones would happen, but recently had a greater chance, probably why the takeover bid happened know it's last chance before it took off.

The firm hopefully is pushing ahead shareholders don't have to approve funding but the company's/ Institutions lending do, takeover bids uncertainty of the company future make it less likely.

No time table on the takeover, My large concern is the uncertainty delaying even further the loan required being completed.

Puts us in a state of no man's land.