re: benefits to buy cmx or ogd
From the OGD release: "Under the terms of the merger Climax shareholders will receive 0.62 of a share of Oceana for each share of Climax. In addition, Climax shareholders will receive 0.31 of an option to acquire Oceana shares for 92.5 cents maturing in 30 months for each share of Climax."
Comment: .62 of a share for 44 cents...equivalent to a touch under 71 cents OGD but...what about the options your essentially getting thrown in for free...what are they worth? I think there is a very good chance at some stage in the next thirty months OGD will be well over 92.5 cents... I was looking at buying Climax a couple of weeks ago as discounted way of increasing my OGD holding but unfortunately couldn't get the cash. We should get a confirmation this week regarding finalisation of the merger and the relevant dates etc.
OGD Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
