TOPIC: CHANGE OF CONTROL EVENT
Firstly, Thank you Supercat for saying it as it is, IMO very good... you are one of Flinders Mines very early shareholders, so you know exactly what is going on and your posts are always great to read.
Thank you Wannabenot for commenting on this post. Every RHK shareholder has the right to make a comment, and I guess your comments say what you believe, although at times colourful, as least it gives others the opportunity to fire back if they feel the need. I believe I heard someone say that you are a big RHK shareholder. I don’t know but if you are you risk losing everything the same as the rest of us.
RED HAWK MINING SHAREHOLDERS ARE EAGERLY WAITING GOOD NEWS... THE QUARTERLY AND THE PFS ARE DUE TO BE ANNOUNCED THIS MONTH.$200 million is a lot of money to find to get this project operational. Let’s hope it isn’ta loan from our majority shareholder, that in my opinion could have lots of conditions attached to a very short repayment timeframe that may be unachievable. In my opinion, if that was the case, that may enable our majority shareholder to gather tens of millions of heavily discounted RHK shares.
Red Hawk Mining’s letter to shareholders, 23/10/2023 regarding AGM
CHANGE OF CONTROL EVENT INCLUDES:(i) the sale by shareholders (in one transaction or a series of connected transactions) to a third party purchaser of all of the issued shares in the Company provided that no sale or transfer undertaken is to effect a corporate reorganisation of the Group or any Group Company; or
(ii) a sale to a third party purchaser of all (or substantially all) of the assets and business undertaking of the Company (including by way of a sale of shares of the Company’s directly or indirectly owned subsidiaries) but excluding a sale or transfer undertaken to effect a corporate reorganisation of the Group or any Group Company; or
(iii) the announcement of a Change of Control event under subparagraphs (a) or (b) above which is deemed “in the best interest of shareholders” by a suitably qualified Independent Expert.
CHANGE OF CONTROL EVENT INCLUDES:(i) the sale by shareholders (in one transaction or a series of connected transactions) to a third party purchaser of all of the issued shares in the Company provided that no sale or transfer undertaken is to effect a corporate reorganisation of the Group or any Group Company; or
(ii) a sale to a third party purchaser of all (or substantially all) of the assets and business undertaking of the Company (including by way of a sale of shares of the Company’s directly or indirectly owned subsidiaries) but excluding a sale or transfer undertaken to effect a corporate reorganisation of the Group or any Group Company; or
(iii) the announcement of a Change of Control event under subparagraphs (a) or (b) above which is deemed “in the best interest of shareholders” by a suitably qualified Independent Expert.
CHANGE OF CONTROL EVENTSOn the occurrence of a change of control event (as defined in the Plan, which includes shareholders selling to a third party purchaser all of the issued shares in the Company, an unconditional takeover bid under Chapter 6 of the Corporations Act, a court approved scheme or arrangement, a merger resulting in the current Shareholders being entitled to 50% or less of the Shares of the merged entity, a Group Company agreeing to sell a majority of its business or assets, an Independent Expert determines that a transaction event is in the best interest of shareholders, or a determination of the Board that control of the Company has or is likely to change), then (subject to compliance with the Listing Rules and the Corporations Act):
(a) all unvested Shares, Options or Performance Rights will vest and become immediately exercisable on the Change of Control Event; and
(b) any of the vesting conditions, attaching to those unvested Shares, Options or Performance Rights will be waived in accordance with the terms of the Plan.
NOTE: CHANGE OF CONTROL EVENTS APPEARS TO BE VERY CLEARLY EXPLAINED TO RED HAWK SHAREHOLDERS
Now there is millions and millions of “Performance / Bonus and Incentive Shares” in play that shall immediately convert to shares (vest) upon occurring “A Change of Control Event”... is something being planned ahead of time, because it appears that some top BBI people are now on RHK’s payroll, and I guess paid very handsomely, plus a new advisory board, so I wonder if something big is going on behind the scenes.
Let’s hope we are all beneficiaries because minority shareholders just want to go mining ASAP, however some doubts still linger... could this be just like the Rutilla take over coming our way? or is ASIC standing in the way.
I for one still feel very positive as I will be taking up most of my entitlement, just to round off the numbers. So good luck to all, as we anxiously await good news.
