PAC

0.54%

$11.11 pacific current group limited

Yr explanation is much appreciated - so there is a 31.91% voting...

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MarkHGO

6,468 Posts.

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02/08/23

19:51

Post #: 69123490
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Originally posted by Plague: ↑

It's a fair question no doubt. I'll try my best to explain what I understand from this announcement.

Basically River capital and Regal have entered into a funding co-operation agreement in order to take pacific current private. As far as I understand Regal is acting as an associate to River capital but neither party controls the shares and voting rights of either party, they are just in agreement to put forward this offer. Importantly, cumulatively the co-operation has influence over 16,459,645 voting rights of pacific current.

"There is no agreement, arrangement or understanding between RPL or River Capital or their respective related bodies corporate in respect of the ownership, disposal or voting of, the PAC shares owned by each other or their related bodies". Meaning although they have entered into an funding agreement they aren't acting together to buy/sell their shares, this is more or less just a legal disclaimer.

Under this funding Co-operation agreement, River Capital and Regal partners have jointly decided to work together in order to explore funding options, primarily this includes the possibility of River Capital providing funding in connection with the proposed non-binding proposal by Regal partners.

As far as I understand this announcement is just a change in holding and only important as it effectively adds weight to Regals offer as the 2 largest shareholders of the business is in support of the takeover offer.

If anyone wants to add more, feel welcome to, this announcement isn't price sensitive and therefore isn't likely to materially influence the share price / market capitalisation of PAC.

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Yr explanation is much appreciated - so there is a 31.91% voting exposure, the actual ownership of this 31.91% is unclear?
So who on paper has gained the approx. $3 per PAC share on the 31.91%?
Should GQG proceed & succeed ? I expect the current holder/s of the 31.91% will realise the $3 per share appreciation since Regal made their play?

PAC Price at posting: $10.61 Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

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(20min delay)
Last $11.11		Change 0.060(0.54%)		Mkt cap ! $579.9M

Open	High	Low	Value	Volume
$11.12	$11.22	$11.03	$230.1K	20.76K

Buyers (Bids)

No.	Vol.	Price($)
2	482	$11.07

Sellers (Offers)

Price($)	Vol.	No.
$11.11	7573	1

View Market Depth

No.	Vol.	Price($)
1	264	11.070
1	2500	11.030
2	12573	11.000
1	200	10.950
1	300	10.850

Price($)	Vol.	No.
11.110	7573	1
11.150	4203	1
11.450	285	1
11.500	750	1
0.000	0	0

Last trade - 16.10pm 06/09/2024 (20 minute delay)

PAC (ASX) Chart

Yr explanation is much appreciated - so there is a 31.91% voting...

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