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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ggg Resources | GGG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 25.875 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 25.875 |
| Top Posts |
|---|
Posted at 27/1/2018 14:39 by shakeypremis Hey ShavianGGG came across my radar earlier in the week and it instantly caught my attention. The The resource is absolutely huge. Rare Earths and uranium too. Two sectors with a lot of future potential. Even a boat load of zinc too. |
Posted at 03/8/2017 06:17 by shavian Obviously not. Folks missing a trick here on a recovery in uranium stocks and renewed interest in REE and Greenland's increasing accessibility and more mining-friendly government. GGG starting to recover nicely. |
Posted at 15/3/2012 12:47 by hiddendepths carl (sorry, I owed you an answer!) and jaws - that was the cash balancing mechanism at work.In essence, the two companies are merging as equal partners. BUT GGG had a pile of cash while AZX didn't. In order that they put equal amounts of cash into BBG, GGG agreed to buy new shares in AZX with the cash going to AZX so that the cash amounts balanced. This is the purchase (at a price set over the previous 5 days less 10%) to equate the cash positions. The issue for the last week is what price GGG would pay for the new AZX shares. It was in the interests of Auzex for their share price to be as high as possible for that five day period so that GGG's cash would buy fewer shares, leaving them with a smaller percentage of AZX and thus a smaller interest in the asset. So the surge in GGG, which was probably having a knock-on effect on the AZX price was actually damaging GGG shareholders' interests! The end result is that GGG owns 18% of AZX and this means that GGG holders will end up with 59% of the asset while AZX holders (other than GGG) get 41%. |
Posted at 15/3/2012 12:15 by bhoddhisattva Just received this:GGG Resources PLC Scheme Consideration-0.909 Bullabulling Gold Share RNS Number : 4203Z GGG Resources PLC 15 March 2012 GGG Resources plc ("GGG" or the "Company") Scheme consideration - 0.909 Bullabulling Gold Shares for 1 Auzex Share GGG Resources plc advises that the Cash Balancing ratio has been set at 0.909 Bullabulling Gold Share for every Auzex Share. The Cash Balancing amount (being the amount of cash required to be subscribed by GGG to Auzex to ensure that the Net Cash Assets of GGG and Auzex are equal on the Effective Date) has been set at $4.7 million. Accordingly, under the Cash Balancing Adjustment, GGG will subscribe for 18,540,434 Auzex Shares at an issue price of $0.2535 (25.35 cents) (being a discount of 10% to the 5 day Volume Weighted Average Price ("VWAP") ending 14 March 2012 of Auzex Shares on ASX). The subscription is conditional on the Australian Scheme being approved and becoming Effective and will occur after the Effective Date and before the Record Date. It is currently expected to occur on 29 March 2012. Following the issue of new Auzex Shares to GGG as part of the Cash Balancing Adjustment it is anticipated that there will be 159,008,999 Auzex Shares on issue of which GGG will hold 28,807,101 Shares (being 18.1%) and immediately prior to the Implementation Date there will be 170,680,298 BBG Shares on issue. On completion of the merger between GGG and Auzex it is anticipated that there will be 289,002,949 Bullabulling Gold Limited Shares on issue. |
Posted at 14/3/2012 16:53 by leedskier Further to the scheme of arrangement and proposed listing of Bullabulling Gold Limited, trading in GGG shares on AIM will be suspended from 7.30am on Thursday 15 March 2012.The result of the Final UK Scheme Court Hearing is expected to be announced on 15 March 2012. It is expected that after the Scheme becomes Effective, GGG Shareholders will be issued with one Bullabulling Gold Limited Ordinary Share for every GGG Ordinary Share held and that subsequently Bullabulling Gold will have 170,680,298 ordinary shares in issue. GGG's existing ordinary share capital will be cancelled resulting in GGG becoming a wholly owned subsidiary of Bullabulling Gold Limited. It is anticipated that GGG's Ordinary Shares will be cancelled from trading on AIM at 7.30 on Friday 16 March 2012. Admission of Bullabulling Gold Limited Depositary Interests, representing the new Bullabulling Gold Limited Ordinary Shares, to trading on AIM is expected to occur at 8.00am on Friday 16 March 2012. The Company's TIDM is "BGL" and its ISIN code is AU000000BAB9. Admission of Bullabulling Gold Limited shares for trading on the ASX market is expected to be on 23 March 2012. Shareholders will be updated in due course. |
Posted at 09/3/2012 12:31 by hiddendepths sbh - there is a cash inequality between GGG and AZX. Basically, GGG have some and AZX don't! Before the merger this needs to be levelled out so that the two can go into the new company on an equal basis. In order to achieve this, GGG will effectively buy new shares in AZX at a price equivalent to a 10% discount to an average closing price of AZX over a five day period. So the lower the AZX price, the more AZX shares GGG will own (the cash will buy more shares) and the higher the proportion of the new company will be allotted to GGG shareholders. If the AZX average price is about 25c, GGG will end up with a smidge over 60% of Bullabulling Gold. It is not entirely clear when the 5 day period takes effect but I think it may have started on Thursday so we're two days in. Obviously it is in the interests of AZX for their shre price to be pushed up for those five days, which is why we've had a string of good news in the last week or so. |
Posted at 08/3/2012 08:55 by 7kiwi leedskier,The timetable has slipped: " Final GGG Scheme Court Hearing Thurs 15 March 2012 Suspended trading of GGG Shares on AIM Thurs 15 March 2012 Issue of BBG Shares and BBG DIs to GGG Fri 16 March 2012 Shareholders and grant of BBG options to GGG option holders De-listing of GGG from ASX and termination of 5.00pm (WST) Fri 16 March 2012 quotation of GGG CDIs on ASX Cancellation of admission to trading of GGG 7.00am (UK) Fri 16 March 2012 Shares on AIM Commencement of dealings in the New BBG Shares 7.00am (UK) Fri 16 March 2012 on AIM and settlement through CREST of new BBG DIs under GGG Scheme AZX Shareholder Scheme meeting 10.00am (Brisb) Thurs 22 March 2012 BBG listed on ASX and BBG shares quoted on ASX Fri 23 March 2012" GGG de-lists from AIM next week now. |
Posted at 08/3/2012 08:53 by serious punter LeedskierEvent Time Lodge Appendix 1A and Information Memorandum Fri 17 Feb 2012 with ASX Last day of dealings in GGG CDIs on ASX Wed 29 February 2012 Disablement of GGG Shares in CREST Wed 14 March 2012 GGG Scheme Record Time 6.00pm (UK) Wed 14 March 2012 Final GGG Scheme Court Hearing Thurs 15 March 2012 Suspended trading of GGG Shares on AIM Thurs 15 March 2012 Issue of BBG Shares and BBG DIs to GGG Fri 16 March 2012 Shareholders and grant of BBG options to GGG option holders De-listing of GGG from ASX and termination of 5.00pm (WST) Fri 16 March 2012 quotation of GGG CDIs on ASX Cancellation of admission to trading of GGG 7.00am (UK) Fri 16 March 2012 Shares on AIM Commencement of dealings in the New BBG Shares 7.00am (UK) Fri 16 March 2012 on AIM and settlement through CREST of new BBG DIs under GGG Scheme |
Posted at 27/2/2012 15:22 by jaws6 The UK Scheme and AdmissionThe UK Scheme was approved by GGG Shareholders at a general meeting held on 9 January 2012. It is expected that the UK Court will approve the UK Scheme on 8 March 2012. Under the terms of the UK Scheme, all GGG Shares will be cancelled and, upon the UK Scheme becoming effective, GGG Shareholders will be entitled to receive one BBG Ordinary Share for every GGG Share held other than Existing BBG Shareholders who will receive one less BBG Share than they would otherwise be entitled to as GGG Shareholders. This will ensure that, on the UK Scheme being implemented, BBG will have the same number of ordinary shares on issue as GGG had immediately prior to the UK Scheme being implemented. GGG currently has in issue the following GGG Shares and GGG Options: ● 170,680,298 fully paid ordinary shares of 2 pence each ● 200,000 unquoted options expiring on 23 February 2012 exercisable at 38 pence per option* ● 3,075,000 unquoted options expiring on 23 February 2012 exercisable at 32 pence per option* ● 500,000 unquoted options expiring on 6 October 2014 exercisable at 7 pence per option ● 3,425,000 unquoted options expiring on 23 April 2015 exercisable at 8 pence per option- page 10 |
Posted at 18/2/2012 10:31 by clive205 jaws6 - 17 Feb'12 - 14:29 - 13800 of 13806Clive As normal AZX slow in running things to make this late rather then Mar. Hope we not paying them , is GGG paying same to their directors ? Jaws, it looks like things are taking longer on the GGG side as well. It says in the AZX pdf that the court date for GGG to get approval for the scheme is March 8th (p 90) which is later than GGG have previously stated themselves. I'm not aware that the GGG direectors are paying themselves an equivalent sum. It's interesting to note the comments in the BDO appendix section B7 where it covers the implications for the 5 day VWAP period prior to the cash balancing. Certain parties might have an interest to sell down AZX during the 5 day VWAP period in order for GGG to get a greater share of the pie. Also, in figure C.1 on P75 of the BDO document shows the relative value of BBG to "broadly similar companies". If the JORC comes out at 3M oz and a higher Indicated value then it's going to make the share price look even more out of whack with those comparisons. We should soon see a similar document from GGG I'd have thought. |
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