Ann: Ceasing to be a substantial holder from FMG, page-99

First 99 Last

Share
Profile

Follow
rowliegb

558 Posts.

65

30/09/18

16:12

Post #: 35936795
Share

Originally posted by groundhog2 ↑

DO YOUR OWN RESEARCH

IN MY OPINION ONLY

Gday all genuine Atlas holders,

I agree and share all your sentiments and I thank you for all your valuable contributions. In my opinion only I think it is also important to step back ...take the emotion and disappointment out and look at things objectively. In my opinion its time to gather the full suite of relevant facts first before then acting in your own best interests. All matters are clearly not yet concluded.

Its my understanding that although clearly related......compulsory acquisition and de listing are two separate events. On figures currently available Hancock still needs approx. 186 million shares to get to 90%.

Based on currently available information we know that Hancock owns 88.06% of all available shares. In total that leaves approximately 1.2 billion shares in the hands of others (Before the capital raising, dilution involving the contractors and the debt for equity swap there were less than 1 Billion shares on issue in Atlas Iron). Yes Fortescue has sold but we do not know the composition of other shareholders ie Who they are, how many shareholders there are or how many shares everyone holds. It is my understanding that the target for compulsory acquisition is 90%

I don't know the answer to this one so perhaps someone in the forum can help. If someone decides to hold and Hancock moves towards compulsory acquisition after this offer closes is that person still guaranteed the current and last offer price of 4.6c. Similarly if after the offer closes without Hancock attaining the 90% but decides to delist - are we given a final opportunity to sell and at what price?

The timing of the final 4.6c offer is interesting too. Why was it done on a Tuesday. Its my understanding that if the offer is further extended it is two weeks from the date of the final offer (25th September) and not the closing date of the 2nd October. Please correct me if im wrong.

I also note that in the Atlas report that there is still unfinished business with Mineral Resources regarding Min Resources 10% in Atlas P/L which is a subsidiary of Atlas Iron Ltd.

As always DO YOUR OWN RESEARCH and ACT IN YOUR OWN BEST INTERESTS

Expand

Didn't you post this yesterday, oh wait groundhog I get it now.

AGO Price at posting: 4.3¢ Sentiment: Sell Disclosure: Not Held
1 Upvote

1 Great analysis

Reply

Top Stories

BIT

HotCopper users blunt as Biotron sinks -35%; long-awaited COVID drug results same as placebo

QML

Metallurgical testing shows saleable copper and pyrite from QMines' Develin Creek project

RMX

Red Mountain Mining: record gold prices, two projects, two greenstone belts

Is the ASX getting its groove back? Here's 5 IPOs in September to watch

As Nvidia cools, we're looking to Aussie AI