GMD appointed directors on the Dacian Board can do any deals...

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daicosisgod

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22/02/23

10:43

Post #: 66390124
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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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GMD appointed directors on the Dacian Board can do any deals they like, including a separate agreement to process Genesis and/or Hoover House ore on a contract basis.

GMD appointed diectors on the Dacian Board can operate profitably for years and never pay a dividend.

Being in a minority is a difficult position and you need more financial patience than Raleigh Finlayson. RH plays the long game to perfection so I wish you luck.

For disclosure I am a GMD shareholder.

DCN Price at posting: 8.9¢ Sentiment: Sell Disclosure: Not Held
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GMD appointed directors on the Dacian Board can do any deals...

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