"In addition to the Bonds, and as announced on 17 December 2013, Jin Jiang has agreed to a conditional share sale transaction to purchase approximately 146m ordinary shares in Nkwe from Nkwe’s largest shareholder (and BEE Partner) Genorah Resources Limited (“Sale Transaction”).
Why? they want control i think is the obvious answer.
It implies to me that they will likely want the rest that they can acquire, (except for the 26% private BEE holding which Genorah retains) namely all your ASX listed shares.
Takeover coming imo, its just a question of how quickly they will move.
A look over the history here, and they were prepared to stump up 50c back in 2011. So that's a confirmation of their intention.
Count me in, for a short term trade from 8c to 30c.
BTW thanks seller.
NKP Price at posting:
8.7¢ Sentiment: ST Buy Disclosure: Held
