Wombat - use the Grey spectrum, we are definitely in shadow territory now
I've stayed quiet during this process as I believe we will get to 90%, but I've thought about the following possibility if we don't get to 90%.
If MEP remains a listed company due to ADN not gaining 90% to force completion of the takeover, then they remain the 25% owner of the Great White deposit (and 50% owner of Natural Nanotech). With ADN now controlling the MEP board, they could declare a "Decision to Mine" (not sure if a DFS / BFS is required to make this declaration). At this point MEP would be required to stump up 25% of all required CAPEX.
Let's say that the CAPEX MEP is required to provide is $8 million (not unreasonable given the $45 million ADN raised last year). Since ADN controls the board and 89.5% of the company (as of today), they could issue a Share Purchase Plan (i.e. only involving existing shareholders) at full value (i.e. not at a discount which normally happens) - maybe even at a premium. Under these conditions will the 10.5% non-ADN MEP shareholders stump up anything for the SPP? If only a few of those 10.5% non-ADN shareholders fail to chip in, then ADN acquires enough MEP shares to go over 90% - and allow compulsory acquisition to occur.
- Forums
- ASX - By Stock
- Ann: Notice of Change of Interests of Substantial Holder for MEP
Wombat - use the Grey spectrum, we are definitely in shadow...
- There are more pages in this discussion • 22 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ADN (ASX) to my watchlist
(20min delay)
|
|||||
Last
1.8¢ |
Change
0.001(2.94%) |
Mkt cap ! $54.43M |
Open | High | Low | Value | Volume |
1.8¢ | 1.8¢ | 1.7¢ | $42.33K | 2.363M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
28 | 12604021 | 1.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.8¢ | 271076 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
28 | 12604021 | 0.017 |
50 | 10432836 | 0.016 |
26 | 12480485 | 0.015 |
7 | 2138544 | 0.014 |
5 | 3676923 | 0.013 |
Price($) | Vol. | No. |
---|---|---|
0.018 | 271076 | 4 |
0.019 | 3833925 | 14 |
0.020 | 2792570 | 21 |
0.021 | 4330830 | 7 |
0.022 | 1930273 | 9 |
Last trade - 14.32pm 13/05/2024 (20 minute delay) ? |
|
|||||
Last
1.8¢ |
  |
Change
0.001 ( 2.23 %) |
|||
Open | High | Low | Volume | ||
1.8¢ | 1.8¢ | 1.7¢ | 666266 | ||
Last updated 14.14pm 13/05/2024 ? |
Featured News
ADN (ASX) Chart |
The Watchlist
MGU
MAGNUM MINING AND EXPLORATION LIMITED
Neil Goodman, MD
Neil Goodman
MD
SPONSORED BY The Market Online