Ann: A1M: Supplementary Bidder's Statement, page-13

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SignOfTheTimes

2,021 Posts.

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07/11/22

12:16

Post #: 64625934
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Originally posted by jophda: ↑

I cannot sugar coat it , I am disappointed .
It all comes about because of how they structured the IPO .
MEP shareholders got shafted there with the price struck for the IPO implying the assets passed from MEP to DRM was only worth a little over 1cent per MEP share when the tax dept accepted it was considerably more .

I cannot complain because I made a lot of money out of MEP and I will make good money out of DRM .
I bought a big holding in the IPO but I got cut back .
MEP shareholders should have been given full application imo .

Shame to see the exploration team could no longer have a job .

Feel sorry for the ADN holders that bought into MEP to get cheap ADN shares and did not take part in the DRM IPO .
Luckily I saw very early that over there the Emperor had no clothes .

Expand

I'm going to spend some time summarising the effects of the combination - I'll post when I'm out of shock.

No need to feel sorry for the ADN arbitragers. The In Specie were a free issue, and with a cost base of $0.40c if we don't get Roll Over Relief the profit of approx 40c value - 40c cost remains 0 declarable profit. I'd feel sorrier for those who couldn't wait to sell DRM inspecie to buy more ADN. Truth be told I bought more ADN and more DRM, so what do I know.

I need time to digest this food, this feels like a meal replacement shake. Its good for you, but no substitute for a balanced fulfilling meal

Last edited by SignOfTheTimes: 07/11/22

DRM Price at posting: 32.0¢ Sentiment: Buy Disclosure: Held
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