Asa Resource Share Discussion Threads

[skidaddle] 12/7/2017 12:18

He might back the bid, but will he be allowed to use his 6% to vote for it?

[gfrae] 12/7/2017 11:46

Ning has 6% odd and has backed the bid.

[skidaddle] 12/7/2017 11:30

I thought CIMC had a big holding of more than 20%. Not shown in the Form 8.

Admittedly they all look Chinese!

The voting rights of CIMC should be void imho.

[redtrend] 12/7/2017 11:28

RPI is owned by Hailang. It's a Chinese stitch up and based on the shareholders who have agreed in principle to TO, clear Ning and his company CIMC are on board too

[skidaddle] 12/7/2017 11:23

Rich Pro Investments Limited Form 8 (OPD) (Rich Pro Inv. Limited)

Doesn't look like they have any big shareholdings at the moment and they aren't going to be able to buy any big shareholding in the market either.

Perhaps the RNS was to show that the concert party didn't include the crooks.

The market seems to like the latest RNS.

[skidaddle] 12/7/2017 11:01

With assets like this, particularly the gold at Zani Kodo, becoming rarer and costly to find, I think there is every chance of a higher bid. All imho of course.

Nings voting rights should be called into question since his crookedness is one of the main reasons for shareprice weakness in the first place. It's like stealing the wheel of a bike and then coming back and offering to buy the rest of the bike dirt cheap because the wheel is missing. After all Ning couldn't steal it all at once but he appears to be having a good go now if he is a member of the concert party that is!

Crime should not be seen to pay in this instance.

[apfindley] 12/7/2017 10:59

Have a feeling the market isn't liking this approach. The Chinese have already screwed this company over and now after the fraud of last year, it makes you wonder if these parties are linked. Must be one of the most sombre takeover approaches we've seen for a while..

[gfrae] 12/7/2017 10:56

Unlikely to be a higher bid,unless the board can persuade RPI that their agreement is worth a little bit extra.
Ning is backing the bid. (Dearing of course is Ning's man )
If RPI gain control they may have to or decide to delist in which case our shares would be almost valueless..this probably probably the reason that the shares are at such a large discount to the offer.

[anomie] 12/7/2017 10:45

@shakypremise. Trading at a discount to offer price reflects the degree of uncertainty that the offer will be accepted and go through.

[skidaddle] 12/7/2017 10:29

The company is now "in play".

I can't believe that this is the only group that have run the rule over the assets of the company. Even if it is, others will be looking now.

This is just an opening offer imho.

The other question is, if the Chinese crooks who ran the company before being sacked are involved in this bid, will their voting rights be anulled if it goes hostile?

[shakeypremis] 12/7/2017 10:22

Why is this not trading at 2.1p already?

[juju44] 12/7/2017 10:17

could be worth a small long bet here

[juju44] 12/7/2017 09:51

We need a counter offer

[casabella2] 12/7/2017 09:34

Do not let us go on the cheap.

[casabella2] 12/7/2017 09:04

To my mind our assets alone will be worth more than £100m. 2.1p or £35m?Ridiculous.So in reallity you should be looking at probably 6p/share.Then there is all the gold ,nickel and diamonds.

[plasybryn] 12/7/2017 08:54

Agreed. Hang on in their for more to come or further bidders imo.
Worth a lot more than 2.1p

[juju44] 12/7/2017 08:44

Looks like its not a done deal with the market

[gfrae] 12/7/2017 08:38

Looks like they have decided that buying the company on the cheap is less hassle than stealing the cash !
At least I am assuming that RPI are connected to Ning who stole the money and has so far seen no repurcussions. The result of the theft has been to lower the share price, so not only has he kept the money ,he has made the purchase of the remaining shares cheaper ! Clever.
I am surprised that Finncap are getting involved with these people ... I thought they were a reputable firm.

[hazl] 12/7/2017 08:10

well done though folks

[plasybryn] 12/7/2017 08:03

Agreed.Potential assets are significant & have yet to be exploited.Will we get further bids?Some will still be underwater below 3p, so I hope for more.

[casabella2] 12/7/2017 07:57

The true value of this company is a hell of a lot more than what these are offering.