It's good as it is progress - much the same info as in the ASX announcement Sayona released - these announcements are updates of them working through the housekeeping of merging the two companies. Don't pay too much attention to the maggots and worrywarts on these threads.
If you hold SYA shares the relevant bit for you is that they intend to divide the number of SYA shares on issue by 150 and change the ticker from SYA to ELV. This in itself will not automatically change the value of your investment in SYA, just the number of shares in that holding.
Keefy Phillips, the boss of Piedmont, in March foresaw that they would get over the regulatory hurdles listed in the announcement so no real surprises there. The one obstacle that KP flagged as possibly being a challenge is getting timely clearance from the US Securities & Exchange Commission (SEC) to send out the information document to Piedmont shareholders so they know what they are voting about. He said that as the SEC has not dealt with Sayona before they may be quite thorough in vetting the claims in the document. I could not see in the recent announcements any mention of the SEC process so I guess that is still a work in progress. Anyway they are still saying the shareholder meetings of Sayona and Piedmont will be done by the end of June so no slippage in the merger timing yet (also good news) (note: originally they said the whole deal would be done by the end of June so there is slippage from that original timeline.).
SYA Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
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