Considering the hurdles this announcement needs to jump I can only interpret it as a strategy play... can't predict how it will turn out but numerous factors are in play and it will be difficult to satisfy all of them - so Tim has a strong "get out position" as his hole card. Namely...
“Subject to...
2. "the Liontown Board unanimously recommending the proposal"
3. "entry into a mutually acceptable scheme implementation deed"
4. "subject to approval of the scheme by Liontown shareholders"
5. "subject to any regulatory approvals"
6. "in the absence of a superior proposal"
7. "subject to an independent expert concluding (and continuing to conclude) that the proposed transaction is in the best interests of shareholders".
Condition 7 is going to be particularly difficult to satisfiy at $3 a share or perhaps even at $5. Should any "independent expert" conclude or come to a valuation that was suspect or arguably not in the "best interests of shareholders", or that does not take into considertion the huge free cash flow potential and dividend stream - I imagine there will be a massive outcry from retail.
We can all do the calculations and conclude that this is a substantial hurdle to satisfy.
I may even by why the Board insisted on it.
Hopefully, Tim and the Board are playing a risky but very clever strategy to get the fence sitters out in the open and thereby extratct share value to where it should be at mine opening - but still intends to continue on to mining and owning KV. He always said he would.
Loujag - optimist
- Forums
- ASX - By Stock
- LTR
- ASX Today
ASX Today, page-32510
-
- There are more pages in this discussion • 10,662 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LTR (ASX) to my watchlist
|
|||||
Last
77.8¢ |
Change
-0.018(2.20%) |
Mkt cap ! $1.885B |
Open | High | Low | Value | Volume |
79.5¢ | 79.5¢ | 77.5¢ | $1.995M | 2.548M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
64 | 738221 | 77.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
78.0¢ | 81628 | 30 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
60 | 735769 | 0.775 |
68 | 804240 | 0.770 |
30 | 450031 | 0.765 |
38 | 441420 | 0.760 |
21 | 500540 | 0.755 |
Price($) | Vol. | No. |
---|---|---|
0.780 | 96637 | 27 |
0.785 | 329305 | 24 |
0.790 | 456213 | 18 |
0.795 | 484596 | 10 |
0.800 | 653768 | 23 |
Last trade - 11.45am 28/08/2024 (20 minute delay) ? |
Featured News
LTR (ASX) Chart |
The Watchlist
HAR
HARANGA RESOURCES LIMITED.
Peter Batten, MD
Peter Batten
MD
Previous Video
Next Video
SPONSORED BY The Market Online