Hi Snoball,I suspect that TLW paper swap would be the way most...

Hi Snoball,

I suspect that TLW paper swap would be the way most would prefer (in fact there were quite a few postings complaining that the TLW share % is too low) for the following reason:
1. Continuing exposure to Uganda, after all that's what HDR was exposed to
2. TLW is worth a lot more with a bigger upside than the 2.02, even though you might have to spend a bit more to sell and then convert, but then you could probably make on the exchange too.
Case in point, except for the fact that TLW is climbing, HDR would still be 2.02.
3. TLW share registry would not be diluted, unlike the case of a share placement.

London was 427p last night; HDR eqv is around 2.15, 2.16, which means that we could see HDR to be 2.12-2.13 Monday.

Keithallen,

Can't think of any reason why HDR holders will vote NO. This t/o has provided a lot of holders, including myself with a get out of jail free ticket. Some of the big boys are probably holdingers for TLW.

TLW wants all of Uganda badly before, with the Kingfisher result, its reinforced the situation even more.

The only thing I am concern about is the get out of jail clause for TLW, which is, if Ching drop to 50%, they can withdraw with no penalty; else it is a concluded deal (save for another bid of course which would be fantastic, but is looking unlikely at this stage).