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83.0¢ red hawk mining limited

IRON ORE JUNIOR LOOKS TO SALT FOR EXPORT HOPES, page-8

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03/04/24

14:57

Post #: 73169869
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Originally posted by Set: ↑

TOPIC: CHANGE OF CONTROL EVENT
Firstly, Thank you Supercat for saying it as it is, IMO very good... you are one of Flinders Mines very early shareholders, so you know exactly what is going on and your posts are always great to read.
Thank you Wannabenot for commenting on this post. Every RHK shareholder has the right to make a comment, and I guess your comments say what you believe, although at times colourful, as least it gives others the opportunity to fire back if they feel the need. I believe I heard someone say that you are a big RHK shareholder. I don’t know but if you are you risk losing everything the same as the rest of us.

RED HAWK MINING SHAREHOLDERS ARE EAGERLY WAITING GOOD NEWS... THE QUARTERLY AND THE PFS ARE DUE TO BE ANNOUNCED THIS MONTH.$200 million is a lot of money to find to get this project operational. Let’s hope it isn’t
a loan from our majority shareholder, that in my opinion could have lots of conditions attached to a very short repayment timeframe that may be unachievable. In my opinion, if that was the case, that may enable our majority shareholder to gather tens of millions of heavily discounted RHK shares.

Red Hawk Mining’s letter to shareholders, 23/10/2023 regarding AGM

CHANGE OF CONTROL EVENT INCLUDES:
(i)the sale by shareholders (in one transaction or a series of connected transactions) to a third party purchaser of all of the issued shares in the Company provided that no sale or transfer undertaken is to effect a corporate reorganisation of the Group or any Group Company; or

(ii)a sale to a third party purchaser of all (or substantially all) of the assets and business undertaking of the Company (including by way of a sale of shares of the Company’s directly or indirectly owned subsidiaries) but excluding a sale or transfer undertaken to effect a corporate reorganisation of the Group or any Group Company; or

(iii)the announcement of a Change of Control event under subparagraphs (a) or (b) above which is deemed “in the best interest of shareholders” by a suitably qualified Independent Expert.

CHANGE OF CONTROL EVENT INCLUDES:
(i) the sale by shareholders (in one transaction or a series of connected transactions) to a third party purchaser of all of the issued shares in the Company provided that no sale or transfer undertaken is to effect a corporate reorganisation of the Group or any Group Company; or
(ii)a sale to a third party purchaser of all (or substantially all) of the assets and business undertaking of the Company (including by way of a sale of shares of the Company’s directly or indirectly owned subsidiaries) but excluding a sale or transfer undertaken to effect a corporate reorganisation of the Group or any Group Company; or

(iii)the announcement of a Change of Control event under subparagraphs (a) or (b) above which is deemed “in the best interest of shareholders” by a suitably qualified Independent Expert.

CHANGE OF CONTROL EVENTS
On the occurrence of a change of control event (as defined in the Plan, which includes shareholders selling to a third party purchaser all of the issued shares in the Company, an unconditional takeover bid under Chapter 6 of the Corporations Act, a court approved scheme or arrangement, a merger resulting in the current Shareholders being entitled to 50% or less of the Shares of the merged entity, a Group Company agreeing to sell a majority of its business or assets, an Independent Expert determines that a transaction event is in the best interest of shareholders, or a determination of the Board that control of the Company has or is likely to change), then (subject to compliance with the Listing Rules and the Corporations Act):

(a) all unvested Shares, Options or Performance Rights will vest and become immediately exercisable on the Change of Control Event; and

(b) any of the vesting conditions, attaching to those unvested Shares, Options or Performance Rights will be waived in accordance with the terms of the Plan.

NOTE: CHANGE OF CONTROL EVENTS APPEARS TO BE VERY CLEARLY EXPLAINED TO RED HAWK SHAREHOLDERS

Now there is millions and millions of “Performance / Bonus and Incentive Shares”in play that shall immediately convert to shares (vest) upon occurring“A Change of Control Event”...is something being planned ahead of time, because it appears that some top BBI people are now on RHK’s payroll, and I guess paid very handsomely, plus a new advisory board, so I wonder if something big is going on behind the scenes.

Let’s hope we are all beneficiaries because minority shareholders just want to go mining ASAP, however some doubts still linger... could this be just like the Rutilla take over coming our way? or is ASIC standing in the way.

I for one still feel very positive as I will be taking up most of my entitlement, just to round off the numbers. So good luck to all, as we anxiously await good news.

Expand

Interesting posts

Hi my old friend @Set. Great you see you posting again on HC. The Mining article you posted at the start of this thread was great. It touches on all the main spots from the conference. Clearly the potential ports at BCI and Leichhardt were named. It has been said numerous times before access to one a these would be a great game changer for RHK. The article doesn’t mention though and we may get news this year about the Leichhardt FID. Leichhardt it more important to RHK than BCI and it is nearer to RHK deposits and the design could cover RHK from the start of the port project.

I wonder why some posters seem worried about a change in control in RHK? I cannot see evidence that BBI is still in the game and a surprise bid may come from TIO/Todd. I still hold the view that BBI is for sale and TIO/Todd may been very keen to exit RHK is the price was right. If TIO/Todd exited RHK I suggest it may be game over for the rest of us as the acquirer would likely want our shares too. We are not likely to get any say in the deal and price. So it is worth worrying about?

I also am intrigued by the worry of some about Red Hawk employing ex BBI staff. My view is that RH should hire the best staff available regardless of source. Any staff that RH took for the BBI project could have intimate knowledge for project and the necessary skills. Can everyone show any real evidence of any conspiracy here?

Meanwhile Red Hawk is marching on the production. The PFS should be out in about 4 weeks. Maybe issues like funding will be addressed but I doubt it. It will be addressed at DFS/FID. Much to look forward to for Red Hawk shareholders, IMO.

RHK Price at posting: 71.0¢ Sentiment: Buy Disclosure: Held
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Last 83.0¢		Change 0.055(7.10%)		Mkt cap ! $165.8M

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