Ann: Awak Mas Project Mineral Resource Update, page-7

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ryan0

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06/07/21

14:58

Post #: 54317868
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Originally posted by rjsimps: ↑

"Major shareholders of NUS (representing 26.7% of issued capital), including Lion Selection (21.77%), and
Cumulus Wealth (4.96%), have confirmed to NUS their intention to vote in favour of the transaction in the
absence of a superior proposal and subject to the independent expert concluding (and continuing to conclude)
that the Scheme is in the best interests of shareholders"So they currently have only just over 50% of the votes (51.7%)? That's a narrow margin, especially if the expert conclusion has to conclude (and continue to conclude) that its in the best interest of shareholders. ie any updated good news will push against that 'best interest of shareholders'. Only need cumulus wealth to decide against it for the bid to be forced to go up (if all other shareholders vote against that is). Unsure - interesting to see how it plays out. Ill vote no.

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I think the words "in the absence of a superior proposal" are relevant here, if any other party were to make a superior offer it is unlikely Indika would be able to count on the LSX and Cumulus shares.
I will be voting no.

NUS Price at posting: 34.0¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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Ann: Awak Mas Project Mineral Resource Update, page-7

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