Just mapping out the time line for this deal & some cash for holders, noting that "up to" $45m will be returned but no firm indication of how. I'm also assuming that the Taurus draw down of $11.5m USD has now become more expensive to repay now with the AUD slipping to 72c.
Anyway....
GM to be announced 6-8 weeks after the previous announcement on 8th Aug. Expect the GM around the last week of Sept.
The deal allows for the transaction to happen 6 days after the GM, so around 1st week of Oct.
Management will then decide how much cash they can distribute, how and when. I imagine this process could take at least 3-4 weeks including getting funds to holders so I'm expecting late October for this to be done & dusted.
I'm gonna take a stab at Monday 22nd October for funds to be received.
Anyone get a different impression of how this might unfold?
TLM Price at posting:
27.0¢ Sentiment: Hold Disclosure: Held
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