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tied up with acg to relist.
DSS has already got 50% of vote so pretty much going to win as you need 75% on the day to overturn any decision.
so DSS goes to market, we then hold 90% of this business, so a dilution of 10%. it states the enlarged share capital of DSS not sure what that means. dss will be renamed atlantic cabon group. dss will be parent company of which atlantic is a subsidary of dss.
so we get more shares, which in total add to 90% of teh business, however we are getting 1.5 shares for everyone so 50% increase? against 10% total overall and if the price of each is 0.025 that is very good.
http://www.atlanticcoal.com/News/News/2019/DSS%20ACG%20Circular_final.pdf
so acg is giving more shares, price of £0.025 per share and owning 90% of the shares, 10% to DSS
Wow thanks unvrkw for posting this. Looks like some action finally after waiting for years with no knowledge of what is going on. Theres a lot to read and much jargon to wade through but I'm very pleased to with this offer. The important date is 28.2.19. And the offer gives us 1.5587 shares for every one owned. I'll be doing some in depth reading over the weekend but good news all round.
Let me know what you think.
Yes will do. Great heads up though. How did you find out?
Caveat, the offer is to give 1.5587 new ordinary shares of £0.025 NOMINAL VALUE each for every ACG share. They may not have a sale value of 2.5p. Good news, though. Movement at last.GLA.
Let’s remember that the research note back in October 2018 valued ACG at USD 86m. I would suggest that will be a minimum valuation for the new group. Divide that value by the number of shares in the enlarged DSS and this should be the lowest SP on a relisting. PS the nominal value of DSS shares is irrelevant.
If I get this correctly DSS wants to re-list by using our shares to acquire ACG and in so doing take over the name of ACG. We get approx 50% more shares as a sweetener. It looks like it will be a UK company, but will it be on AIM or another market ?
Just wondering why DSS is doing it this way. Could they not re-list as themselves at some point ? What will happen to any shareholders shares should they not take up the offer ?
Personally I'm pleased to see some movement at last but interested to know why they're using this approach. Oh and does anyone know the total number of DSS shares in issue so as to ascertain the SP on re-listing.
I think the more pertinent question is why ACG is doing it this way, I have grave suspicions myself!
Just be aware(and very afraid) of who you are getting into bed with; google "Stephen Best – President of Atlantic Coal Plc. joesaunders61"