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12.0¢ exore resources ltd

Does ERX need (want) Perseus mining ?, page-10

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mikey16

745 Posts.

72

01/08/20

22:00

Post #: 46241413
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Originally posted by plonka: ↑

Mikey16 can you explain exactly what you are asking?

I think the answer to your question is:

PRU has made an offer to take over ERX. It is an all script offer meaning that ERX will be taken over completely and absorbed into PRU if the deal goes ahead. The result being for every 12.78 ERX shares held you will receive 1 PRU share. IE if the vote on the takeover is positive then all ERX holders will see there shares converted from ERX shares to PRU shares at that rate and ERX will no longer exist.

At the current price(ERX-11.5c, PRU--153.5c) ERX share holders will receive a 4.4% increase in value.
11.5cx12.78=~147c
153.5/147=1.044

There is no choice in regard to splitting holdings between ERX or PRU. It is either the deal fails and ERX continues to exist and your ERX shares do not change(apart from the change in their value from a failed takeover) or the deal passes and ERX holders become PRU holders.

I believe the deal is a fair deal to all. And all will benefit. I vote yes as both an ERX and PRU holder and expect the deal to go ahead.

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Thanks, do we know how much support for the acquisition is needed before it is 100% going through? I called up Perseus the other day and they said this is going through so I'm a bit confused.

ERX Price at posting: 11.5¢ Sentiment: Buy Disclosure: Held
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