Asia Resource Share Discussion Threads

[naughtynicky72] 15/4/2015 11:37

"The possible offer to ARMS shareholders would provide a full cash offer at a significant premium for all equity holders, while providing a much stronger operational platform for the coal asset in Indonesia, and subsequently a more tangible solution for all debt holders. We urge investors to reject the opportunistic attempt by NR Holdings to gain control of ARMS without making a full and fair offer to its other shareholders," Kin Chan, a partner at Argyle Street Management, said in a statement . " We urge investors to reject the opportunistic attempt by NR Holdings to gain control of ARMS without making a full and fair offer to its other shareholders " So I wonder what Kin Chan would say is a full and fair offer is ? . NOT 41 P BY THE LOOKS OFF IT ! .

[falia] 15/4/2015 10:34

HERE WE GO

[falia] 15/4/2015 10:26

SHAKE OVER HERE WE GO 30P COMING

[apfindley] 15/4/2015 10:10

Your next arbitration multibagger is OXS

[keya5000] 15/4/2015 09:07

Just read it all in more detail, 28p rights issue proposed by them also, meeting on the 22nd.

Think there maybe a very decent rise to be had here from this level, at worst value in the mid 20's seems to be clear.

[bad robot] 15/4/2015 09:06

I am in too.

[sif12] 15/4/2015 09:03

Bought a few...Fact that it states they may proceed even if arm arent willing to engage shows intent. And if that is the case, they may nees to buy in the market above 41.At current 28, with raising at either 25, or 28 with the offer at 41... Seens like a fair wager Sif

[flyfisher] 15/4/2015 09:00

Gerhart, Either deal requires the agreement of bondholders, who will they support.

The proposed rights issue at 28p to raise $150m is interesting, as it implies that a current buyer of the shares will have an option to take up rights at 28p, which he can sell shortly after in the bid for 41p.
One could make an argument for the share price to trade in excess of 41p as it carries a potential rights entitlement.

[keya5000] 15/4/2015 08:59

Tomboyb, no official approach yet but surely that's only a matter of hours away.

Would suspect the official bid would have this at -10% to the bid price c36p area.

[tomboyb] 15/4/2015 08:57

In think a few noticed that offer last night - is it definitive yet?

If it is then huge premium to the 15p last price yesterday - With the proviso attached.

[h2owater] 15/4/2015 08:50

LSE:Asia Coal Ventures, a vehicle being funded by Sinarmas, said on Tuesday it was considering making a possible cash offer for ARMS, the parent of Indonesian-listed PT Berau Coal Energy Tbk .The potential offer of 41 pence per share represents a premium of 173 percent to ARMS' last traded price. Berau shares jumped as much as 5 percent on Wednesday, outperforming the Jakarta benchmark index, which was down 0.3 percent."Our aim to acquire ARMS is to synergise it with our business, be it power plant or its supply," Sinarmas Group Managing Director Gandi Sulistyo said. (Reporting by Cindy Silviana; Additional reporting by Fransiska Nangoy; Writing by Eveline Danubrata; Editing by Clarence Fernandez)

[marmar80] 15/4/2015 08:45

"Under that proposal, Asia Resource Minerals is looking to raise USD100 million in an equity raising open offer priced at 25 pence per share underwritten by Rothschild's NR Holdings vehicle." (thanks h2o)
Is this holding share price at 26.5p now?

[gerhart] 15/4/2015 08:45

Liam/Marm......maybe not likely to be agreed so would have to be hostile and may not succeed - or they may pull out.

MMs aren't noted for allowing PIs to wake up and buy when they know a takeover share price themselves???!

[keya5000] 15/4/2015 08:43

Would expect them to start buying in the market under 41p, to increase their holdings/control and save cash.

[marmar80] 15/4/2015 08:41

Why if the offer is 41p, is it still around mid twenties?

Good question Gerhart

[h2owater] 15/4/2015 08:38

REPEAT: UPDATE: Fund Mulls Takeover Offer For Asia Resource Minerals (ALLISS)Wed, 15th Apr 2015 06:39LONDON (Alliance News) - A vehicle supported by hedge fund Argyle Street Management and Singapore's Sinarmas Group Tuesday said it is mulling a takeover offer for Asia Resource Minerals PLC, presenting a possible "white knight" alternative to an existing restructuring plan backed by financier Nat Rothschild and recommended by the company.The potential offer showed that Sinarmas is funding Asia Coal Energy Ventures Ltd, a company managed by Hong Kong hedge fund manager Argyle Street Management Ltd, which already owns a 4.65% stake in Asia Resource Minerals. The offer would aim to acquire the shares not already owned by Argyle Street Management for 41 pence per share.The Asia Coal Energy Ventures' alternative proposes an equity financing of USD150 million at 28 pence per share by Asia Resource Minerals, a fundraising which the vehicle would underwrite. Those funds would be put to reducing debt and exchanging its existing 2015 and 2017 notes.The news presents an alternative to Asia Resource Minerals, which has asked shareholders to vote in favour of the separate recapitalisation plan backed by Nat Rothschild at a meeting scheduled for April 22. Under that proposal, Asia Resource Minerals is looking to raise USD100 million in an equity raising open offer priced at 25 pence per share underwritten by Rothschild's NR Holdings vehicle. The Rothschild-supported deal also include a restructuring of debt in the form of notes due in 2015 and 2017.Asia Resource Minerals, which was formerly known as Bumi, responded with a statement in which it said that it has "received no communication from ACE (Asia Coal Energy Ventures) in respect to such a possible offer".Argyle Street Management plans to vote against the existing restructuring plan at the general meeting."The possible offer to ARMS shareholders would provide a full cash offer at a significant premium for all equity holders, while providing a much stronger operational platform for the coal asset in Indonesia, and subsequently a more tangible solution for all debt holders. We urge investors to reject the opportunistic attempt by NR Holdings to gain control of ARMS without making a full and fair offer to its other shareholders," Kin Chan, a partner at Argyle Street Management, said in a statement."We welcome the involvement of a group of the stature of Sinarmas as a 'white knight' to this key Indonesian asset," Kin Chan added.According to the statement, Asia Coal Energy Ventures Argyle Street Management, Sinarmas are seeking to enter talks with Asia Resource Minerals about the possible offer and restructuring."For the avoidance of doubt, if the Asia Resource Minerals board declines to engage in constructive dialogue with Asia Coal Energy, Asia Coal Energy may proceed with the possible offer in any event," the statement said.Asia Resource Minerals shares closed flat at 15 pence on Tuesday.By Samuel Agini; [e-mail]; @samuelaginiCopyright 2015 Alliance News Limited. All Rights Reserved.Alliance News

[h2owater] 15/4/2015 08:34

LSE:41p possible offerToday 08:06The proposed Offer would be to acquire the entire issued and to be issued ordinary share capital of ARMS not already owned by ASML at 41.0p per share, a 173.3 per cent. premium to the closing price and a 198.0 per cent. premium to the 30-day volume weighted average price, in each case as at 13 April 2015MY21Posts: 7,618Off TopicOpinion: No OpinionPrice: 15.00FTToday 06:42Leading Indonesian family behind rival to Rothschild bid for Arms: One of Indonesia's richest family-owned businesses has emerged as backer of a possible offer for Asia Resource Minerals, the distressed London-listed mining group which is subject to a refinancing offer led by a leading shareholder, Nat Rothschild.

[liam1om] 15/4/2015 08:33

It could be one of those rare occasions where it's not been widely noticed.

It was released after hours last night.

[gerhart] 15/4/2015 08:30

Why if the offer is 41p, is it still around mid twenties? Why are MMs hoding back from close to offer share price as would be normal?

[tomboyb] 15/4/2015 08:09

Auction buying - Looks like it is going 25p+

[tomboyb] 14/4/2015 20:39

Well that was unexpected -

I saw this at around the 4p mark and lots of trading after - Gut Instinct was a placing fully underwritten at 25p and the share price ranges from 12-15p - was an out and out buy -

41p offer is a signifcant premium! I don't hold this but well done. They have to recieve offer confirmation.

[hairballradical] 14/4/2015 20:27

Ken,

well done, looks like your timing was impeccable.

I'd like to think this will trade at around the 25p open offer from first thing in the morning.

[naughtynicky72] 14/4/2015 19:37

Is ARMS Heading back to 41 p ?