Ann: Trading Halt, page-63

goodaye Invertedva,
As far as ASX goes, under Rules 11.1etc, if:
1. TPD makes a significant change to the nature and scale of its activities, it needs to provide info to ASX. IF the ASX requires it, then TPD then must get s/h approval.

2. if the "significant change" involves disposing of its main undertaking, then TPD must get approval of s/h.

I would imagine that Wayerling is TPD's main undertaking, because it is the closest asset to cashflow, it would be the most valuable.
It would be hard for TPD board to argue not to get s/h approval.
S/H approval will probably not be needed, because judging from STX's earlier approach, STX and TPD will do a Scheme, rather than a straight T/O proposal ??
TPD does not reveal what form that deal was to be delivered.

it involved TPD de-merging its Mongolian assets to TPD s/h, I guess by issuing shares in the entity which holds the Mongolian asset. presumably, that entity would then be listed on ASX. That process would be a paper nightmare i would imagine. It would somehow need mgt, board and funds to continue.

TPD would then just hold the Aust assets, which would then be acquired by STX for scrip. So STX would then pay each TPD s/h in STX shares - at some agreed pricing.

Some issues: it seems STX went away last weekend - but door not closed - they are back talking, and pricing of deal.
A scrip bid for TPD (minus Mongolian assets) simply does not get cash into the Mongolian entity.
What do TPD s/h do when waiting for Mongolian entity structure to be completed?

I imagine deal would need to be a Scheme (which is recommended by TPD board) because TPD and STX would want certainty that deal went ahead, before it went to expense and trouble of splitting-off Mongolia.

Good luck to all you s/h.

I guess whatever happens, this process will place a market value on TPD.
How similar is this to WGO process - and what a difference it is when the target board is willing to talk turkey?