re: ml and tlw "speaking for myself, I'll go for as many TLW as I can get. It'll be better than 40% of the total, as TLW itself by then would have already have accumulated a whole lot of HDR shares, plus, there would be a whole of holders who would just go for the cash, especially those who bought in early and are already making a good profit."
KKW
remember that the HDR share price will rise as the Tullow share price goes up, so people who just want to take the cash will sell on market at a price higher than $2.02 to someone who does want to convert to the Tullow shares. If the Tullow share price is up, very few people would be fool enough to just take the 2.02 when they can sell on market at a higher price, so the uptake of Tullow shares will be very high.
The other point is that Tullow are not going to succeed in buying many on-market at 2.02 in the next few weeks unless their own share price drops substantially (not very likely), so they will not be taking many out of the total pool.
In other words, don't get your hopes up for an allocation much greater than 40%, it is unlikely to happen.
HDR
hardman resources limited
