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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Kaz Minerals Plc | KAZ | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 849.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 849.00 |
| Top Posts |
|---|
Posted at 31/3/2021 08:33 by glavey grantley,Final means they can't raise it again and can't come back for a while. The special dividend is only payable if the offer is declared unconditional. It is not a 'given'. That would normally, and I stress, normally, be set at 90%, because it allows the compulsory purchase of any rump. However, I am not aware if Nova have put a percentage on 'unconditional', but they have threatened that they propose to delist if they get over 75%. AFAIIA, 'unconditional' can be a simple majority (50% + 1) but I'm not sure if Nova would go for that. The 'threat' and 'the divi carrot' suggests they want it all. Meantime the final offer is 850p/sh. (Kaz peaked at circa 1500p/sh IIRC.) The payment of the Special Dividend is conditional upon the Final Increased Offer becoming or being declared unconditional in all respects. Subject to the Final Increased Offer becoming or being declared unconditional in all respects, KAZ Minerals Shareholders who are on the register of members of KAZ Minerals at 6.00 p.m. (London time) on the day that the Final Increased Offer becomes or is declared unconditional in all respects will receive the Special Dividend. The Special Dividend will be paid at or around the same time as settlement of consideration payable by Bidco under the Final Increased Offer to those KAZ Minerals Shareholders who have validly accepted the Final Increased Offer before it becomes or is declared unconditional in all respects. |
Posted at 26/3/2021 14:56 by rampant_bull Other miners up 4% today, KAZ the laggard |
Posted at 26/3/2021 10:30 by thelongandtheshortandthetall God knows how they can include a special dividend as part of the offer. Surely, as shareholders that dividend money is already ours.Isn't it a bit like a tenant buying you out of your buy-to-let house but throwing in the shed to sweeten the deal... But you already own the shed. What is going on?? |
Posted at 26/3/2021 08:46 by grantley I assume by final offer they say they will walk away of not accepted? Also - can anyone comment as to why they would offer £8.50 + the special dividend rather than just £8.69? TIA. |
Posted at 26/3/2021 07:40 by clinton baptiste Neil Hume@humenm Increased offer for Kaz Minerals. 850p a share plus a special dividend, which takes the aggregate value to 869p. Given Kaz did not recommend a final dividend for 2020 will be interesting to see how that plays out. |
Posted at 24/3/2021 16:58 by thelongandtheshortandthetall £9?not me. They need to go for £12+ IMO The market is currently valuing KAZ at £8.55 to buy just 1 share. If someone wanted to buy 10% of the free float available it would push the price way up, so they need to dig deep into their pockets :) In fact that's what the biders should do. Start accumulating the rest of the shares they need. Happy to enjoy the ride while they do. |
Posted at 24/3/2021 10:03 by clinton baptiste Neil Hume@humenm So Nova Resources has until Friday to increase its offer for Kaz Minerals. Today's statement shows just a 0.3% increase in acceptances since the last update 13 days ago. Bid is at 780p. Copper is back above $9,000 a tonne this morning. Correction. I think Neil Hume is incorrect as the release states the T/O offer has been extended to 9 April. |
Posted at 24/3/2021 09:39 by zangdook As I read it, the minimum is 50%, if they still want it, but they can back out if they get less than 75%.Acceptance Condition (a) valid acceptances of the Increased Offer being received (and not, where permitted, withdrawn) by no later than 1.00 p.m. on the First Closing Date of the Increased Offer (or such later time(s) and/or date(s) as Bidco may, in accordance with the Takeover Code or with the consent of the Panel, decide) in respect of not less than 75 per cent. (or such lesser percentage as Bidco may decide) of the KAZ Minerals Shares to which the Increased Offer relates and of the voting rights attached to those shares, provided that this Condition will not be satisfied unless Bidco and/or any of its wholly-owned subsidiaries shall have acquired or agreed to acquire (whether pursuant to the Increased Offer, the Share Exchange Agreement or otherwise), directly or indirectly, KAZ Minerals Shares carrying in aggregate more than 50 per cent. of the voting rights then normally exercisable at a general meeting of KAZ Minerals, including for this purpose (except to the extent otherwise agreed by the Panel) any such voting rights attaching to KAZ Minerals Shares that are unconditionally allotted or issued before the Increased Offer becomes or is declared unconditional as to acceptances whether pursuant to the exercise of any outstanding subscription or conversion rights or otherwise. |
Posted at 24/3/2021 09:06 by thelongandtheshortandthetall ''The aggregate of those KAZ Minerals Shares in respect of which Bidco has received acceptances (as set out above) and the KAZ Minerals Shares in which the Consortium is already interested represents approximately 59.28 per cent. of the existing issued share capital of KAZ Minerals.''Ok so they have acceptance from 59.28%. Do they require 75% because if they do I can't see that happening. Any opinions? Cheers If their offer is scuppered KAZ should IMO leave the blocks with gusto! |
Posted at 28/10/2020 08:03 by podgyted "The Consortium believes that there is a strong strategic rationale for the Acquisition, recognising that KAZ Minerals' focus on developing and operating large scale, low cost copper mines in Kazakhstan and the CIS region has enabled it to successfully progress a pipeline of growth projects, including its largest assets in Kazakhstan, Aktogay and Bozshakol. The Consortium also believes that KAZ Minerals' decision to dedicate efforts to a capital intensive strategy focused on long term growth remains the optimal long term strategic path for KAZ Minerals. The Consortium recognises this may be misaligned with the preference of many investors in the mining sector."Says it all. |
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