As it stands GMD hold all the ACES, mine put on care and...

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19/02/23

10:01

Post #: 66331754
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Originally posted by RooBendigo: ↑

I presume you know that delisted shares still exist. Listed or not GMD will be be unable to own the DCN assets without making a second TO offer for the remaining shares. Kin/Delphi and I suspect holders like me have no intention of selling on the market, so delisting makes no difference. Those shares were always going to be sold off market to GMD or Hoover. It is just a question of price. We have something GMD needs for Hoover House to succeed, and GMD are going to have to make a much better offer for those remaining shares. Delisting doesn't make any difference to the fact GMD will not be able to compulsorily acquire the remaining shares because they won't have 90% needed for this TO offer, or the 75% of remaining shares needed for a 2nd TO offer without Kin/Delphi.

Perhaps you think GMD/Hoover can act as if they own the DCN assets even though they don't. Any decisions the DCN board makes that involve dealing with GMD would have to have minority shareholder approval, so I don't think so, but not a lawyer.

So my point was I doubt those holding out for a better offer care if the shares are delisted.

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As it stands GMD hold all the ACES, mine put on care and maintenance, assets will be written down in FY report, injection of new capital will inevitably be required. At the end of the day GMD will end up with DCN and to presume they'll be paying more for the remaining shares is a he'll of a gamble, best of luck to you, hopefully the punt works out.

DCN Price at posting: 9.3¢ Sentiment: Hold Disclosure: Held
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