AJM and Sayona Merger (post PLS), page-3

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wotusay

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25/11/20

13:36

Post #: 49133671
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Originally posted by Gwaihir: ↑

In the corporate finance world, anything is possible. White collar criminals get away with it every day, but that's another topic.

Consider the fact that AJO is lost and it goes to PLS (which I own shares in anyway) for $175m, which will almost certainly happen IMHO, given that the agreement gives PLS the right to match any other offer.

That leaves the trading company AJM as a shell, listed but with no assets, like all shells.

Sometimes, an unlisted company will back door into a shell, but that won't happen with AJM, because it will be de-listed and all the shares cancelled.

So the question becomes, is it better to have a small piece of something, and an opportunity to re-build again, rather than de-list and cancel all the company shares and have nothing?

In other words, would the shareholders of AJM, who are left with almost nothing, like the "chance" to start over again, similar to having an IPO?

In this event, "perhaps" the shareholders could be given an option (or opportunity over a short period of time) to raise capital and merge with another company. The question then, how to raise capital?

For instance, most of the directors of AJM are directors of Sayona Lithium, a $20m market cap company.

If Sayona agreed to merge as equals with AJM, on the condition that AJM also raise $20m, then it would be up to the AJM shareholders to attempt to raise the money. I think that may require them to each put in just a little more than half a cent a share.

And there would not be any change of directors needed.

What this would do, is pump $20m into Sayona for their Lithium exploration efforts, and potential M&A activity, and at the same time save the AJM shareholders from having their shares de-listed for nothing on the ASX

In other words, a win-win situation for both companies, and a fresh start, and saviour for AJM shareholders.

Of course, this is just one option provided here, in the event that PLS takes AJO. There may be other options.

Gw

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I vote for a plan................It ain't over to the fat lady sings plan for AJM shareholders...... Not worried about saving management ..... It seems a lot of people in PLS and AJM......

AJM Price at posting: 7.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 1.5¢		Change 0.000(0.00%)		Mkt cap ! $5.526M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
1	36950	1.6¢

Sellers (Offers)

Price($)	Vol.	No.
1.5¢	36951	1

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No.	Vol.	Price($)
1	36950	0.016
8	558138	0.015
2	170000	0.014
1	71499	0.013
2	121666	0.012

Price($)	Vol.	No.
0.015	36951	1
0.016	403366	1
0.017	196281	5
0.018	1924941	6
0.019	419910	4

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AJM and Sayona Merger (post PLS), page-3

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AJM and Sayona Merger (post PLS), page-3

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