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Will they pay us 14.85p per share and when?
The RNS sets out the timetable - subject to obtaining all the clearances from Tanzanian authorities.
The next stage is the court hearing. No date is yet set for that as preconditions have to be met (these are set out in the Scheme Document). Some are procedural and easily in the grasp of Saturn. However, the important ones are regulatory clearances from Kenya and Tanzania. They have Kenya and I am sure Tanzania is well advanced. Once they have Tanzania (and any other preconditions) sorted they will ask the Court for a date for the hearing. The Court hearing will likely be only a day. On the third day after the Court approves the Scheme the shares are removed from AiM trading. The takeover proceeds to shareholders are paid 14 days after the Court hearing.
It is difficult to know when the Court hearing will happen, as dependent on the Tanzanian authorities, but I would guess no later than mid May (and quite probably a good deal earlier).
It is largely procedural now. It is possible that the takeover could fail on a precondition, but rather unlikely. Until taken off AiM the shares can be traded, They will now largely trade on the time value of money discounted for some risk.
How is it possible to still trade this today? II still quote me 14.4 to buy...
It isn't private yet so trading is still possible. PIs who don't want to hang around can give up a fraction of a penny to get out and invest in something that's hopefully better. It's x-divi so you'd keep that.
So just to clarify if shares are sold today the holder would still qualify for the dividend?
Apologies if this has already been asked
Thanks
April 2 was the record date for the dividend
Why are there still people making quite big buys at this late stage. Are they able to trade later or just holding for the process and getting refund?
SparkyA1,
I guess most are buying for the "virtually guaranteed" return of 14.85 minus say 14.416 = 0.434p which is a 3% return in a month equivalent of 36% APR...or if it takes 2 months 18% APR ...even at 4 months still 9% APR.
But some may see it as a win win....so apart from the above.....if the bid doesn't get approval and complete...with the way the goldprice has appreciated etc. the SP may mildly rocket......!!!
Would be nice if we could raise a little 'hue and cry' during the approval process. It would be in the interest of all AIM participants, not just us.
Thanks for your comments.