If they make anew offer after 12 months they need 90% and 75% of the available shares when they make that offer. So in effect more like 94%. Whatever deal they offer Kin would have to be extended to all remaining shareholders. Would take most of that pile of cash I guess.
. Kin believe if all 5 companies merged for a 600 000 oz per year company the market cap would be about 5 billion. They think a merger is inevitable but I doubt Genesis will be more than one of five partners if that happens.
Because of the 75% rule Kin/Delphi cannot hand DCN to Genesis, even if they were inclined to. What they have is a blocking stake. Delphi and St Barbara both own blocking stakes in Kin so taking over Kin is not an option.
If they make anew offer after 12 months they need 90% and 75% of...
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Mkt cap ! $2.378B | |||
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