GGG Resources Share Discussion Threads

[hiddendepths] 15/3/2012 17:06

Quite so UKGeorge - that's why some of us were buying AZX last night!

[serious punter] 15/3/2012 17:01

Carl

BGL

[carl79] 15/3/2012 17:00

Whats the LSE ticker going to be again? BBL? Cheers

[serious punter] 15/3/2012 16:58

Are these shares that GGG are buying held in Treasurey?

[temujiin] 15/3/2012 16:45

Hopefully as GGG are the bigger partner and owner of BBling it'll be a case of AZX following where GGG lead.

Edit: AZX share price increasing tonight will be a positive sign for us tomorrow imo.

[ukgeorge] 15/3/2012 16:38

azx are trading at 26cents or 17.4p

ggg are trading at 26p

1 azx = .909 ggg

26p x .909 = 23.6p or 35 cents

quite a big arbitrage

[temujiin] 15/3/2012 16:25

SP, it's just who's the first to say snap when posts are the same, just my perculiar SOH :)

[serious punter] 15/3/2012 16:23

Temujiin - 15 Mar'12 - 16:14 - 14898 of 14902

SNAP! I win this one :)

If you are referring to posting RNS info, then you had a negative win :0)

[rutter] 15/3/2012 16:21

I wonder if there'll be any directors buying.

[retailronnie] 15/3/2012 16:19

- has been updated with Brett Lamberts details, but I think it needs some work.

[temujiin] 15/3/2012 16:19

Wont be ISAable until it's listed on AZX Johnma

[johnma] 15/3/2012 16:19

If its ISA able tomorrow - we should see some movement..

[temujiin] 15/3/2012 16:14

SNAP! I win this one :)

[temujiin] 15/3/2012 16:14

Court Approval of UK Scheme of Arrangement



The Company is pleased to announce that earlier today the UK court approved the UK Scheme of Arrangement and the capital reduction of the Company. As previously announced, GGG shares will be cancelled from trading on AIM at 7.00am on Friday 16 March and the new Bullabulling Gold Limited shares will be admitted to trading on AIM at 8.00am on Friday 16 March 2012.

[serious punter] 15/3/2012 16:14

RNS out - Court Approval of UK Scheme of Arrangement

[bhoddhisattva] 15/3/2012 16:06

I'm predicting a good day tomorrow and 30p by close.

By which time I'll be ready for a good pint!

[rutter] 15/3/2012 16:01

I bet there won't be anyone absent from their laptops at 8am tomorrow. Quite exciting.

Do you think it'll present a good trading opp. Interested in who'll respond to that bit :-)

[retailronnie] 15/3/2012 15:50

looks like gggresources.com reskinned. All the Newsroom | Interviews of are of Jeff!

[tonester30ccfc] 15/3/2012 15:16

I might be a bit slow on the uptake here but I note that the Bullabulling website is now live.



The admission document is available on the site. 165 pages of detail and bedtime reading for anyone interested.



AIM version here:

[carl79] 15/3/2012 13:13

thanks HD - I was on that page for some time...thought a more juicy "secret" was on the horizon. Ive been expecting c. 60% of BullaB for a while ;-)

What surprised me was that some didn't see it coming...milk under a distant bridge...looking forward to the future!!

[hiddendepths] 15/3/2012 12:59

Auzex Resources released the following ASX Announcement: Scheme consideration -0.909 Bullabulling Gold Shares for 1 Auzex Share.

Seems my spreadsheet was close - but that's a little higher than it projected. I can delete it now!

[hiddendepths] 15/3/2012 12:47

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%.

[carl79] 15/3/2012 12:45

londonfinancial - 15 Mar'12 - 11:10 - 14877 of 14887

GREAT STUFF only 289 million shares in total ... It was worth not posting for a couple of days .............

hiddendepths - 15 Mar'12 - 11:50 - 14881 of 14887

lf - yes, I think it was worth keeping a bit quiet for a couple of days!

Guys, what do you mean...I'm being thick but would like to know what i'm missing!!

[bhoddhisattva] 15/3/2012 12:15

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.

[londonfinancial] 15/3/2012 12:01

Sorry sweepie2 i was answering HD

Tomorrow Tomorrow - well we have had good news already so i would hope this
would push us up to 30p .

After all 30p is like 27 with the extra 10 percent or 13.5p in old money .

Fingers crossed