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UNV universal coal plc

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Terracom - Lipstick on a Pig, page-30

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BarrenBuffett

3,997 Posts.

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17/02/20

10:21

Post #: 42969139
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Originally posted by skoonzy: ↑

Apart from a white knight coming in to make a better offer than TER do you think we could see a poison pill defence?

One defence I've been reading about is called a flip in defence where a company can do a rights issue at a substantial discount for existing shareholders.

the other possibilities I was thinking of were:

1. Pay a large special dividend.
2. Sell UNV assets to another company that *is* protected by UK or AU takeover laws and issue shares in that company to existing holders.

Im not sure if these would work though because the board is already compromised and not sure if they're legal or feasible.

just throwing some ideas out there.

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weird logic

paying large dividend would come out of the offer

pay large dividend from where ? UNV has no cash and huge commitments

Last I checked the market for buy and sell of coal asset was not a competitive market served by huge quantities of buyers and sellers - its not powder and soap

UNV Price at posting: 23.5¢ Sentiment: None Disclosure: Not Held
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Terracom - Lipstick on a Pig, page-30

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