Thnx Tombu, that's good info - would you mind posting the full body of the email reply?
A "prospectus level disclosure to shareholders" from Mega would be quite different to the two booklets from SER, which I imagine is for the demerger and the other for the sale to Mega.
A prospectus level disclosure would give you all the info you could possibly think of in regards to Mega. Just think back to the detail in last prospectus you read here and I believe Canada is more strict in their requirements.
You can be sure they haven't gone to all that trouble just for our benefit and it would suggest they are very close to announcing an IPO. Probably still tying up the underwriters so the strength in Focus & Northern SP's would be timely.
Don't forget the confirmed payment of $800K, that's a pretty clear indication that they are the real deal in my book but the prospectus will confirm it.
I'm far from a tax expert but I suspect the 80% distribution to SH's is for tax purposes. Rather than SER paying a huge capital gains tax it transfers to individual SH's. Suits me fine as they are sitting in my SMSF and, sadly, I can transition to pension phase this year if necessary.
SER Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
