Followme,See page 4 of document:Based on our indicative...

Followme,

See page 4 of document:

Based on our indicative calculations, the Proportional Bid would be for approximately 26.5%-28.5% of all shares held by CBH shareholders other than Toho Zinc, depending on the number of small CBH shareholders

It might not be exactly the same percentage for each shareholder as Toho could be obliged to buy the entire shareholding of shareholders holding a small i.e. unmarketable parcel of shares. This will reduce the number of shares it can buy from larger shareholders in order to avoid breaching the 49.9% ceiling. Toho seems to be keen to avoid owning 50% or more of the share capital as that will make CBH a subsidiary. This could be for various reasons e.g. to avoid putting CBH as a subsidiary in its consolidated accounts and fattening its balance sheet.

Djzab,

13c (likely post deal sp)

How are you working this figure out? Is that the share price just before Toho started buying shares just before the revised Nystar proposal was announced? Whether the current share price reflects further possible bids depends on whether the shares are fairly priced now. Atm, believe there is confusion about what is a fair price to pay for CBH. And to answer that question, we need to know the "ex" price of CBH shares, after Toho have acquired their 49.9%. No point buying CBH shares now for 18c if the ex price is going to be 13c according to your calculations. Whoever bought before past Friday however has done well.

Pita,

Do they have enough cash to fund their share of Rasp? I am not fully in tune with their fundamentals but I thought they would require more cash to fund Rasp.