Update on MMR in-specie distribution

Hi All, just an update on the MMR in-specie vote as I had not seen anybody commenting on the announcement made by MMR on 8/10/20

There is the possibility of a large increase in the holding of pep 11 by BPH due to the in-specie distribution by MMR. If this possibility eventuates BPH might see a decent jump in its value as a result.

MMR announced on the 8th of October that they are requesting to further their suspension “to Friday, 23 October 2020 or the Company releasing an
announcement in respect to the potential in-specie distribution and outcome of writs and demands issued by both Advent and Asset , whichever occurs earlier”.

From the same announcement:

“the proposed in-specie distribution of shares it holds in Advent Energy Ltd (‘Advent’) will be subject to shareholder approval at a general meeting of shareholders and that the notice of meeting has been drafted and is expected be ready for submission to the ASX in the near future. The Company is consulting further with Advent about the in-specie distribution framework to enable it to complete its due diligence and issue a Prospectus”

The vote will be held in a general meeting that is going to be submitted to the ASX “in the near future”. While not guaranteed, if the vote is successful MMR’s advent shares will be distributed to its investors including BPH and would probably result in a rapid jump in price due to a previously unaccounted for increase in BPHs ownership of PEP-11.

With the suspension being extended until the 23/10/20 it is likely that we will see an outcome to this within the next two weeks. This is a similar time frame to when a decision from NOPTA has been predicted. We might even see the two announcements released back to back (or within a few days of one another) which would result in some crazy price action.