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21/02/23
23:26
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Originally posted by RnR:
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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?!
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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?!
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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.