OM1 0.00% 7.8¢ omnia metals group ltd

To me, the most important information in the announcement is the...

  1. 4,324 Posts.
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    To me, the most important information in the announcement is the table in Annexure 1 (see below). Just going on the shares and ignoring the oppies and performance rights, then Dixie Gold stockholders will get to hold about 57% of the post-deal Omnia share register and those buying into the cap raise will hold about 23% of the post-deal Omnia share register. That of course means that current OM1 holders will only 20% of the post-deal Omnia share register. By my understanding that means the deal is a change of control event and de facto is a reverse takeover by Dixie of Omnia. (From a quick look it seems to me that most of the oppies are out of the money so will not be exercised.)

    I cannot see where they say how many of the Dixie Gold board and executive will be moving across into the post-deal Omnia. If they did not spell that out in the announcement then they surely should leading up to any vote by shareholders. I would expect Dixie to take up the majority of the board positions and it would make sense for the post-deal Omnia to take on most of the Canadian based Dixie Gold employees.

    https://hotcopper.com.au/data/attachments/5865/5865179-db373c75217246ccfc2aba86aa1871ad.jpg

    PS Just noticed that T4P already highlighted the table so hat-tip to them.
 
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