Although I did ask in the previous post if management were naïve to the process, it was meant as a question to entice opinions but I don't subscribe to them being naive..... I could agree with "management not understanding the whole process and time to take" if there wasn't evidence / experience to suggest otherwise.
~ Every spin out / demerger will obviously be different, location, commodity, etc but IMO, the basic requirements would be similar enough to utilise experience in the process. Maybe demerger / spin out are too far removed from each other that we are unable to make a comparison between the two mechanisms for listing?
Relevant Firefinch directors / KMP's, I am not being disrespectful to the directors/KPM's that I haven't mentioned, it was more from a skillset view.
Brendan Borg:
Non executive director of Kuniko Limited ~ April 2021 Vulcan Energy (ASX:VUL) announced it was to "spin out" non core assets into a newly listed company (ASX:KNI) Two months after Firefinch made its intentions know of the demerger, but given that KNI were listed on the 20th August 2021 he would have some in-depth knowledge of the process.
Alistair Cowden
Founder of eight (8) public companies would be suggestive he would be no slouch in the mechanisms of the ASX and the requirements to list.
Brett Fraser
30 years experience in corporate financing, business acquisitions / strategies and restructuring.
Andrew Taplin
25 years experience in the resource sector, working in operations, major project development, studies and joint ventures.
Michael Anderson
Funds management (Taurus) meh ......
Euroz Hartleys
Strong footprint of corporate activity have raised in excess of $20 billion for ASX listed companies principally via IPO's and secondary market offerings
Canaccord Genuity
Associated with IPO's
Macquarie Capital
Corporate advisors on the demerger of the Lithium and Gold businesses into two separately listed ASX companies.
As a wild calculation, with the current board / senior executives and KMP (Australia only) circa $A2m + is being paid in remuneration annually plus (performance shares, etc) and costs for corporate advice, I expect some more bang for buck. I do understand the difficulties they may have encountered doing deals across 3 jurisdictions, COVID, political unrest (neither covid nor Mali politics have had much impacts, IMO) but they also have the ASX to be used as guidance.
cheers
Although I did ask in the previous post if management were naïve...
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