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09/05/22
16:33
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Originally posted by big2ben:
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A summary of several unverified and unpleasant internet rumors, but interesting for us to know: 1. Zijin claims that Zijin has completely complied with provisions on pre-emptive rights. Zijin also claims that Zijin has complied with legal proceedings and settled the matters through litigation. ****Some media articles suggest that pre-emptive rights will expire within 40 days after the offer of Cominiere is sent. ****I hope other posters verify whether it is true or not. I did not find reliable sources. 2. Cominiere claims that AVZ's offer, made in 2021, did not match Zijin's, indicating that Zijin's offer is more attractive (at least in 2021). 3. The DRC Ministry of Portfolio has approved Cominiere's transfer to Zijin. 4. The Commercial Court of Lubumbashi rejected the requests of AVZ twice by stating that the transfer to Zijin is legitimate.
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So all this happened without anyone knowing? Sounds legit. I've been invested in AVZ for years, for a long while now I've known AVZ has first rights to Cominieres 15%. Never once have I seen any dispute up until the ML decree last Wednesday. No one else did either.