Agreed, the Resolution No3 is a disgrace. The Independent experts report is a waste of time as the information given is incorrect and the history of the pricing agreements haven't been mentioned.
The original agreement was made on the 24th September 2008 and wasn't voted on until the Merger voting on 12th November 2008
25th September 2008 announcement of merger
https://www.asx.com.au/asxpdf/20080925/pdf/31chpztyt75dtb.pdf
Voting for the merger and information on the pellet pricing.
12th December 2008 Voting https://www.asx.com.au/asxpdf/20081105/pdf/31df7v14kxcb09.pdf
The pricing agreement was changed to use the Platts IODEX
4th April 2011 https://www.asx.com.au/asxpdf/20110404/pdf/41xv3z4db978t1.pdf
The pricing agreement was changed again and then used Metal Bulletin
19th November 2012 https://www.asx.com.au/asxpdf/20121119/pdf/42b8pjm51njykx.pdf
Grange then switched back to the Platts IODEX sometime in 2019, but I cannot find a report on it.
(management have told me this when I checked)
The fact is Grange is currently using the Platts IODEX pricing index.
The report doesn't state this, it makes out that the existing MBI 65% pellet index is being used.
The change will undoubtedly mean a slight reduction in prices paid.
Shagang Offtake, page-2
Add GRR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
42.0¢ |
Change
0.005(1.20%) |
Mkt cap ! $486.0M | |||
| Open | High | Low | Value | Volume |
| 41.0¢ | 42.0¢ | 40.5¢ | $621.7K | 1.497M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 101000 | 41.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 244678 | 5 |
View Market Depth
| Last trade - 16.10pm 06/05/2024 (20 minute delay) ? |
|
|||||
|
Last
41.5¢ |
Change
0.005 ( 0.68 %) |
||||
| Open | High | Low | Volume | ||
| 41.0¢ | 41.5¢ | 40.5¢ | 192980 | ||
| Last updated 15.59pm 06/05/2024 ? | |||||
| GRR (ASX) Chart |