Asa Resource Share Discussion Threads

[ashwellt] 14/12/2017 18:28

RPI made an offer to all shareholders and that is now unconditional, if they up their offer they would have to also pay those they have already paid 2.1p to as part of the offer.

If it had been shares on the open market then yes it would be done and dusted, but the rules prevent them paying 2.1p to one set of shareholders and the more to another set to get the remaining shares.

So anyone who has already sold will receive more money if they up their offer.

[trevorm2] 14/12/2017 12:50

Interesting to see RPI's update on their offer.

[timgw] 14/12/2017 11:53

My sources told me 5p by Xmas some time ago. We will have to wait and see.
Will RPI have to pay out more to those who have already received cash or is that part done and dusted and RPI have taken them to the cleaners?

[thecynical1] 14/12/2017 10:45

Wouldn't you just love to see RPI having to double their offer to get their hands on Asa? : )

[skidaddle] 14/12/2017 08:50

'In addition, as set out in its announcement of 21 Nov 2017, Rich Pro Investments Limited has also made a non-binding offer to acquire Headco on a basis that would also result in the repayment of all of the company's creditors and a payment to the Asa shareholders of potentially more than 2.1 pence per share.'

Looks like RPI might have to up their offer of 2.1p.

A bit of a bidding war may be going on in the background or best offers being asked from each party.

[skidaddle] 14/12/2017 08:48

Asa administrators continue talks over Headco sale
14 December 2017 | 08:04am
StockMarketWire.com - Asa Resource Group has confirmed that the company's joint administrators hope to agree the sale of Asa Headco which owns, directly or indirectly, all of the company's material assets as soon as possible.

Asa said the administrators remain in constructive talks over offers receives from a substantial publicly listed company and Rich Pro Investments.

An update said: 'As announced on 24 Nov 2017, the joint administrators have received a non-binding and conditional offer from a substantial publicly listed company.

'The joint administrators continue to believe that if this offer proceeds to completion, all the creditors of the company would be paid in full and from the balance of the sale proceeds, Asa's shareholders could potentially receive more than 2.1 pence per share.

'In addition, as set out in its announcement of 21 Nov 2017, Rich Pro Investments Limited has also made a non-binding offer to acquire Headco on a basis that would also result in the repayment of all of the company's creditors and a payment to the Asa shareholders of potentially more than 2.1 pence per share.

'The joint administrators are actively considering and progressing both offers and the joint administrators hope to agree the sale of Headco as soon as possible.'

[trevorm2] 14/12/2017 07:28

RNS update,looking positive.

[hute17] 13/12/2017 09:38

Strong rise of BNC share price to 5,25$ct in the past few days. Corresponds to a value per ASA share of 2,16p. DYOC

[juju44] 12/12/2017 18:09

Looks like a done deal to me . RPI already have te majority of the shares

[thecynical1] 12/12/2017 17:00

Ashwelt - are they not now committed to the offer? As it has gone unconditional, I don't believe they can back out or am I missing something?

[ashwellt] 12/12/2017 15:22

Worse case is actually zero.

If RPI don't complete the takeover and this drags out administration fees and other working capital could mean secured creditors get some money back and there is a possibility (albeit hopefully negligible) that there is nothing left to be distributed to shareholders.

Its all still a gamble you take 2.1p or don't and hopefully get more, but on the understanding you could get nothing at all.

So really no change from day one of this theft by RPI.

[thecynical1] 12/12/2017 14:33

Who is the red thumb clown?

[thecynical1] 12/12/2017 13:28

Think I'll brave this out as well and see where it goes. As I understand it, our worst case is now 2.1p.....or am I missing something?

[iamald] 12/12/2017 07:15

I am also holding - and prepared to add to mine at 2.1p if I can.
I also think it is possible to keep the shares if RPI do not get over 75% I would hold up to 8p....within 12/18 months.

[casabella2] 11/12/2017 23:08

I'm holding.More to come here.

[wstirrup] 11/12/2017 22:49

Fez, I might have to take my winnings, and "Toss it" into Litecoin... ;¬))

W.

[fez77] 11/12/2017 21:09

I'm just going to brave it out. May be the last man standing and get offered a directorship!㈴6;

[trevorm2] 11/12/2017 17:27

I'm still holding for whatever.

[asmodeus] 11/12/2017 16:56

In answer to your 3316, cynical - no - not everybody has accepted the offer, me included, but just read back over a few (oh well, a lot of) posts.

[malcontent] 11/12/2017 16:29

CHristmas is coming- I'm hoping for 5p - cloud-cuckoo I know, but would be a fitting end for the rollercoaster ride that was ASA

[plasybryn] 11/12/2017 15:50

This is the key bit: see last sentence.
Potential acquisition of the Company's assets
The Joint Administrators have now received a non-binding and conditional offer from a substantial publically listed company to acquire the Company's 100% shareholding in ASA Headco Limited ("Headco"), its immediate subsidiary holding company which in turn owns, directly and indirectly, all of the Company's material assets.
The Joint Administrators believe that, if this offer is accepted, and the applicable conditions are satisfied, all the creditors of the Company would be paid in full, and from the balance of the proceeds of the sale, shareholders of the Company should receive significantly more than the 2.1p per share offered by RPI.

[plasybryn] 11/12/2017 15:44

Still waiting to hear what the new offer is? After 15th.

[fez77] 11/12/2017 14:33

Not accepted offer yet.

[snape] 11/12/2017 09:44

Anyone at Barclays received any cash yet?

[thecynical1] 11/12/2017 09:41

Thanks.

So has everyone accepted the RPI offer?