From the press releases I have read you are not obliged to sell. If you sell you get cash where Australian shareholders are offered PDN at ratio 1:2.04.
If you continue to hold you will still have SMM shares. I presume these shares will continue to have a market value based on how market does actually value them.
I think there is much more to come on this possibility yet and have decided to sit tight on my shares for a while. It is not often the 1st offer is the final and best offer.
But then it is remarkable that one could buy SMM shares on market today for A$4.45 ........... a 13% discount to PDN offer. I expect PDN had a nice day out shopping on this. 3.4m traded - might have saved PDN a bit of drinking silver today!
I'm thinking of buying more if the difference between PDN offer and market price continues like this.... maybe I am seriously missing something but that seems a very nice play!
Anyway, do your own research & seek better advice than mine.
cheers, R
SMM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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