Very well for Gina, sold my shares (compulsory acquisition) to...

Very well for Gina, sold my shares (compulsory acquisition) to her for circa 4.0 cents, I love donating my money to the philanthropists. Flanagan (Delta Lithium) may have the rug pulled out from under his feet again via Idemitsu.

Flanagan was ex CEO of AGO



https://www.atlasiron.com.au/gina-r...ig-year-for-the-billionaires-iron-ore-assets/


Rinehart offers to sweeten bid for Atlas Iron
Darren Gray
By Darren Gray
13 September 2018 — 6:26pm

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Gina Rinehart has dangled the carrot of a 6 per cent higher offer price for junior miner Atlas Iron, in a move that seems aimed at fellow billionaire Andrew Forrest.

Redstone Corp, a wholly owned subsidiary of Mrs Rinehart's Hancock Prospecting, said it would pay 4.45¢ a share, up from 4.2¢ previously, provided it had secured at least 87 per cent voting power in Atlas by the time its offer closed.
Redstone Corp has lifted its offer price for Atlas Iron by about 6 per cent a share.

Redstone Corp has lifted its offer price for Atlas Iron by about 6 per cent a share.
Photo: Fairfax

The Redstone offer period has been extended by a week until September 21.

Redstone's voting power in Atlas has been increasing steadily in recent times and is currently estimated to be around 76.3 per cent.

Atlas was a little-known West Australian minnow just months ago, but suddenly found itself in the spotlight when Mr Forrest's Fortescue Metals Group emerged with a 19.9 per cent economic interest in June. Shortly afterwards, the Rinehart camp secured a similar stake before Redstone launched an off-market takeover.

Fortescue's holding in Atlas, although now down to about 11.37 per cent according to a recent filing, remains an obstacle to Redstone.
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Hancock chief executive Garry Korte urged remaining Atlas shareholders to accept the Redstone offer before it closed.

“The strength of acceptances to date has been pleasing, with Hancock’s voting power in Atlas now exceeding 76 per cent," he said. "Following today’s announcement, should Hancock’s voting power increase to not less than 87 per cent, then all Atlas shareholders who accept, or have already accepted the offer, will benefit from the increased offer price of $0.0445 per Atlas share.

"Support from the remaining Atlas shareholders will allow all Atlas shareholders who have already accepted the offer to benefit from a higher price," he said.

On Thursday, shares in Atlas closed at 4.4¢, up from about 3¢ before Fortescue revealed its holding.