Happy to wait this one out, most likely a dividend in a few months and can’t see exxaro not paying the equivalent ie 31 cents early next year for the rest.
Not sure how the rules apply in this situation because they haven’t taken possession yet but once they breach 20 % I think they have to make an offer for takeover.
Happy to be corrected but they would then need a 75% majority of the volume of votes at a meeting not total shares total of voted.
Thats not so easy given we have some large shareholders. In that case the offer would need to be good to gain approval and logically holders would expect a similar valuation that was used in this offer.
Like I said, happy to hear other opinions but if my thoughts are accurate I’ll wait it out for 31cents, seems to easy. What am I missing or is it just algorithms at work?
JMS Price at posting:
18.3¢ Sentiment: None Disclosure: Held
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