Mate I've been voting NO with my 2 million odd votes for the...

First 2 Last

Share
Profile

Follow
rubitron

195 Posts.

1

15/08/16

12:54

Post #: 18519126
Share

Originally posted by 71c4 ↑

Hi Guys and Girls,

TGZ needs the following to get control of GRY

(75% of votes cast and 50% of Gryphon shareholders present and voting) as well as Australian court approval)

The shares allocated to TGZ is inappropriate during a takeover as it allows TGZ voting rights for the takeover without having to compete with ordinary shareholders or lift the share price, and diluted shareholders, and at no real cost to TGZ shareholders as the money goes back to them.

The deal caps GRYs share price during the take over as it is capped at 15% of the TGZ market cap. The TGZ share price needs to move exponentially to have any benefit to GRY which has the effect of capping benefit to GRY shareholders.

I am happy for TGZ to takeover GRY but IMHO the deal is detrimental to small shareholder for the following reasons;
1) Doesn't get back capital invested in the company
2) Doesn't provide fair value for ounces including jorc reported, known ounces outside jorc reported, ounces below current resource not reported, exploration upside within the leases, and ounces included in the non public reserves available only to TGZ, Mac Bank, possibly MM Investments and other larger shareholders
3) GRY Directors actions have diluted shareholders for no gain to them
4) Share price has been capped by the 15% deal as TGZ is in the upper range of potential market cap

What do you guys think an appropriate price market cap wise would be for a takeover of GRY?

Regards
71c4

Expand

Mate I've been voting NO with my 2 million odd votes for the last 5 years to no avail.

No one cares if anything is fair.

Last edited by rubitron: 15/08/16

GRY Price at posting: 20.8¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

BRX

Belararox delineates another porphyry in Argentina at Tambo South

ASX Market Update: Shares fall flat as GYG soars on debut | 20 June, 2024

Your questions From the Floor: Investment experts respond...

GYG

Guzman Y Gomez shot up nearly 40% in first hour of trades. Can it last?

TM1

Shares up 196% on Terra's news of major reef discovery at Dante