Shareholders should be reading about the MCO offer in an ASX announcement, not on Hot Copper.
If you didn't get a letter, you might want to put in a complaint to ASX about the failure to post an announcement.
The title is: UPDATE ON ACQUISITION OF MORNING STAR GOLD NL - Meeting Reconvening
The update is on Mantle letterhead and is dated 20 April 2016.
Although it says it is an ASX Announcement but there is nothing on ASX for either MNM or MCO.
It was issued by Ian Kraemer, MD of Mantle Mining Corp. Ltd & Winton Willesee, Company Secretary .
The reconvened meeting is at: 2:30 pm on Friday 29 April 2016
Level 4, Plaza Building, Australia Square,
95 Pitt St Sydney NSW 2000.
BRIEF SUMMARY OF INCENTIVES
Board of Mantle urges MCO shareholders to vote for resolutions. If Mantle acquires 95% of MCO & Mantle's directors become directors of MCO, Mantle intends to make an offer to acquire shares held by each MCO shareholder. The offer consideration will be:
1. A pro-rata allocation of $200,000 for all the shares in MCO. It is intended that shareholders be offered an election of taking their allocation either in cash, or in shares (ASX:MNM) at a relevant VWAP leading into the offer. Shareholders who elect to accept the allocation in shares will also be issued one free attaching option in MNM (ASX: MNMOC) for every two shares issued; and
2. A pro-rata allocation of 100 million options in MNM (3c, Nov 2018) These MNM options will attach to either the cash offer or share offer as discussed in 1 above."
The letter goes on to say: "..... For the avoidance of doubt, the above offer will be made by way of private treaty offer to each of the MCO shareholders only after Mantle's shareholder interest in MCO has gone above 90%. This announcement in no way should be interpreted by Mantle as an intention to make a takeover bid for MCO...."
MCO Price at posting:
11.0¢ Sentiment: None Disclosure: Held