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Ann: Magmatic to demerge Moorefield project and IPO, page-123

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Von Rico

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06/10/20

15:45

Post #: 47887124
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Originally posted by Green Bull: ↑

Should go like this (apart from other things they're working on in the background to do with the IPO):

1. Hold AGM (and assume approval of demerger/IPO is passed)
2. Whoever is a holder at say 1-5 days after AGM will be entitled to the new freebies (ex & record dates)
3. within 2-3 weeks after the AGM, the in-specie distribution should be done and new IPO shares should be trading

They might do things slightly differently re; record date but pretty likely that the above will be followed.

Once the notice of AGM comes out, it will spell everything out and we'll know all the ins/outs/dates.

If the Australian Gold and Copper Ltd (AGC) market cap on IPO is $20M (say they raise $10M, so EV of $10M = very very reasonable in this climate), that would mean:

$20M x 60% owned by MAG = $12M value to MAG

MAG to distribute 50% of its AGC holding to MAG shareholders: $12M x 50% = $6M distributed to MAG shareholders (plus $6M kept as a holding in MAG).

$6M distributed to MAG holders, divided by current MAG market cap ($33M) = 18%+ distribution/dividend/capital return (whatever you want to call it)...quietly getting a few more on market, although have enough already!

And lets not forget, this is MAG's 4th best project that they're getting $12M value out of (assuming no SP increases on listing).

Cheers,

GB.

Expand

Keep in mind MAG only own 60% of pre-IPO. If pre-IPO value is $10m and post IPO MC = $20m after raising $10m (assuming no premium), then MAG still only owns 60% of the initial $10m pre-IPO.

MAG Price at posting: 19.5¢ Sentiment: Buy Disclosure: Held
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