Anyone have any color on the offer for Greentech? Would be a real coup to pick it up for what they're offering (~US$50mm). The stocks seems to have been halted since September over what looks like a failure to file interim financial statements. On their website, it appears they have recently received another offer from an entity with a Australian website.
Here's what Greentech said in December:
Reference is made to the announcement of the Company dated 30 October 2024 relating to
the Purported Possible Offer and the monthly update announcement of the Company dated 29
November 2024 (collectively, the “Announcements”). Unless otherwise defined, capitalised
terms used herein shall have the same meanings as those defined in the Announcements.
UPDATE ON THE PURPORTED POSSIBLE OFFER
The Board wishes to update the shareholders and potential investors of the Company that, as
at the date of this announcement, the Company and the Interested Party have not reached any
formal or legally binding agreement in relation to the Purported Possible Offer.
2
As at the date of this announcement, the Board is given to understand that the Interested Party
has no intention to withdraw the Purported Possible Offer; however it also has no intention
to proceed with negotiating the terms and conditions of the Purported Possible Offer with the
Company at this stage, pending the fulfilment of all the resumption conditions as set out in
the announcement of the Company dated 21 November 2024. Consequently, the Purported
Possible Offer remains subject to uncertainty and may or may not proceed.
Here's the statement in today's Metals X report:
"On 24 October 2024, Metals X made an unsolicited approach to Hong Kong listed company Greentech Technology
International Limited (Stock Code: 195) (Greentech) to acquire all of the issued shares (Shares) of Greentech for a
price of HK$0.28 per Share (approximately A$0.06 per Share) and to cancel all outstanding options for an equivalent
price (Offer), subject to compliance with the Hong Kong Code on Takeovers and Mergers.
The Offer is conditional on Metals X completing financial due diligence. Metals X advises that, to date, Greentech
has not engaged with the offer.
Greentech, via a wholly owned subsidiary, holds an 82% interest in YT Parksong Australia Holdings Pty Ltd (YT
Parksong). YT Parksong and Metals X each hold a 50% interest in the BMTJV, which holds the assets that comprise
the Renison Tin Operations."
(20min delay)