Ann: GMD:Genesis Offer for Dacian to close & WILL NOT BE EXTENDED, page-49

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RooBendigo

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21/02/23

23:26

Post #: 66383181
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Originally posted by RnR: ↑

I expect that GMD DCN will pull on a $40m cap raise in March /April.
Kin and Delphi will have to participate fully to maintain there 10% blocking stake. That'd cost Kin about $3m and Delphi $1plus mill in cash. Would put heaps more squeeze on kin cash flow.
Or GMD wait to late June 23 and then put up a new offer for DCN.
If they then offered say 17.5c to 20c for DCN I think they'd get nearly all the remaining shares(?) except for kin and delphis.
That'd cost gmd about $25-30m to get up to just shy of 90% of DCN.
Either way I expect come mid July it'll be gmd on 89 and a bit %, and kin delphi the rest along with a few others.
Then what?!

Expand

Originally posted by RnR: ↑

I expect that GMD DCN will pull on a $40m cap raise in March /April.
Kin and Delphi will have to participate fully to maintain there 10% blocking stake. That'd cost Kin about $3m and Delphi $1plus mill in cash. Would put heaps more squeeze on kin cash flow.
Or GMD wait to late June 23 and then put up a new offer for DCN.
If they then offered say 17.5c to 20c for DCN I think they'd get nearly all the remaining shares(?) except for kin and delphis.
That'd cost gmd about $25-30m to get up to just shy of 90% of DCN.
Either way I expect come mid July it'll be gmd on 89 and a bit %, and kin delphi the rest along with a few others.
Then what?!

Expand

A second offer has to get 75% of the shares still available at the time for compulsory acquisition, so from now on a blocking stake only needs to be about 5%. It is GMD who will have to fund DCN.

DCN Price at posting: 8.9¢ Sentiment: Hold Disclosure: Held
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Ann: GMD:Genesis Offer for Dacian to close & WILL NOT BE EXTENDED, page-49

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