Hambledon Mining Share Discussion Threads

[chipperfrd] 22/11/2012 13:17

bigpete1,

Contrary to the prevailing views on this thread. I think, on the balance of probabilities, that HMB will benefit. Hence, I am keeping my entire holding.
Chip

[bigpete1] 22/11/2012 12:51

Anyone have any views on HMB's potential if the offer is accepted? With the new locally connected and wealthy shareholder/owner could this company start to move in the right direction for once?

[captain_crash_and_burn] 22/11/2012 12:46

I still think given where we are, this is about as good an exit as we could have hoped for. Don't get me wrong, I'll lose about 40% of my investment if the deal goes through at 2p, but better I keep 60% than nothing at all. I am normally poor at walking away from shares as well so this has been a welcome nudge to force my hand.

I hope where we all invest our consilation prize turns us an actual profit although the whole market is still looking fragile out there!

[money4me] 22/11/2012 12:26

high risk = high reward, just not in this case

[grbaker] 22/11/2012 11:42

I've done the same... whole holding tendered... I'll break even, but it's very disappointing what's gone on here.

[chrismcglone] 21/11/2012 23:01

Tendered my total holding. Deadline with Barclay's nominee was Monday. I've just lost faith here so no longer a desire in retaining an interest.

[chipperfrd] 21/11/2012 20:08

For AR to go to all the trouble of making an exception for this shareholder must imply that they wish to smooth their path for holding. They would obviously not need to make any exceptions for a seller.

So this must be an institutional holder which is limited by their own constitution to only holding equities which are subject to UK law.

[dofmeister] 21/11/2012 20:02

Yes, one or two seem to think it was a devious ploy from AR, which is not the case (I think)

[chipperfrd] 21/11/2012 19:58

dof,

I assumed it was more an issue about whether they were able to vote FOR the offer. It sounds like one of the institutions with, perhaps, a restriction clause regarding their holdings.

[dofmeister] 21/11/2012 18:32

I believe it is the shareholder that for some reason is prevented from the jurisdiction, hence their request to remove that for their benefit only clause in order for them to sell.

[almost] 21/11/2012 17:05

Thank you Boy Plunger. All that is above on the header to this BB.

[jlyttle] 21/11/2012 17:04

Thast me out...feel shafted as I lost about 70% of what I put in over the years with averaging down..

However you live and you learn, the money from these will be going somewhere like Vodafone, with a nice dividend in what will be a growing market

[the_boy_plunger] 21/11/2012 15:17

TIDMHMB


RNS Number : 7236R





Hambledon Mining PLC





21 November 2012





Hambledon Mining plc notes the RNS Reach announcement with number 6739R made by African Resources Limited at 10.46am this morning, 21 November 2012. The full text of that announcement is reproduced below:





Not for release, publication or distribution in whole or in part, in, into or from the United States, Canada, Australia, Japan or any other jurisdiction where to do the same would constitute a violation of the relevant laws of such jurisdiction





21 November 2012





Recommended Cash Only Partial Offer





By





African Resources Limited ("African Resources")





for up to 60 per cent.





of





Hambledon Mining PLC ("Hambledon")





(when aggregated with the Hambledon Shares already held by African Resources and by persons acting in concert with African Resources)





Material departure from City Code



1. Introduction



On 2 November 2012, African Resources and the Independent Directors of Hambledon announced that they had reached agreement on the terms of a unanimously recommended cash only partial offer pursuant to which African Resources would offer to acquire up to 60 per cent. of the existing and to be issued shares of Hambledon (when aggregated with the Hambledon Shares already held by African Resources and by persons acting in concert with African Resources) (the "Partial Offer").





The full terms and conditions of the Partial Offer and the procedures for voting "FOR" and accepting the Partial Offer were set out in the partial offer document dated 2 November 2012 (the "Partial Offer Document"). Defined terms used but not defined in this announcement have the meanings set out in the Partial Offer Document.





YOUR ATTENTION IS DRAWN TO THE LETTER FROM THE CHAIRMAN OF HAMBLEDON (ON BEHALF OF THE INDEPENDENT DIRECTORS) IN PART I OF THE PARTIAL OFFER DOCUMENT UNANIMOUSLY RECOMMENDING THAT YOU ACCEPT AND VOTE "FOR" THE PARTIAL OFFER IN RESPECT OF THE HAMBLEDON SHARES HELD BY YOU. HAMBLEDON SHAREHOLDERS WHO HAVE NOT YET ACCEPTED AND VOTED "FOR" THE PARTIAL OFFER ARE ENCOURAGED TO DO SO WITHOUT DELAY.



2. Material Departure from the City Code



African Resources announces that an acceptance has been received from an Independent Hambledon Shareholder requesting the following deletion from the language in the representation and warranty contained in paragraph (m) of Part D of Appendix I to the Partial Offer Document:



(m) that the execution of the BLUE Form of Acceptance constitutes his irrevocable submission to the non-exclusive jurisdiction of the courts of England in relation to all matters arising in connection with the Partial Offer and the BLUE Form of Acceptance and his irrevocable acceptance of all the matters set out in the final paragraph of Part A of this Appendix I



African Resources understands that this request has been made as a result of constraints placed upon such Independent Hambledon Shareholder in its constitutional documents, which prevents it from submitting to the jurisdiction of any courts.





African Resources has considered the request and has agreed to accept such Independent Hambledon Shareholder's acceptance as valid with such amendment and to instruct the Receiving Agent to act accordingly. The agreement to this amendment for one Independent Hambledon Shareholder constitutes a material departure from the rules contained in the City Code as follows:



Rule City Code Requirements Position adopted for a partial offer for the Partial Offer ------------------------- ------------------------ --------------------------- General Principle Requirement that all All Independent Hambledon that all shareholders holders of an offeree Shareholders are of the same class company of the same afforded equivalent are afforded equivalent class must be afforded treatment, save for treatment equivalent treatment one Independent Hambledon Part B, General Shareholder, in respect Principle 1 of whom an amendment to the representation and warranty contained in paragraph (m) of Part D of Appendix I to the Partial Offer Document has been agreed. ------------------------- ------------------------ --------------------------- 3. Miscellaneous



Hambledon Shareholders should note that the Partial Offer is not governed by the City Code and accordingly no Rule 8 disclosure wording is included in this announcement.





Defined terms used but not defined in this announcement have the meanings set out in the Partial Offer Document, which was posted on Hambledon's website at www.hambledon-mining.comon Friday 2 November 2012.



4. Enquiries:



African Resources



Ashar Qureshi Tel: [phone]



Hambledon Mining plc



Charles Zorab, Investor Relations Manager Tel: [phone]



SP Angel Corporate Finance LLP (financial adviser, nominated adviser and broker to Hambledon)



Ewan Leggat/Katy Birkin Tel: [phone]



This announcement is for information purposes only and does not constitute an offer to sell or an invitation to purchase any securities or the solicitation of an offer to buy any securities, pursuant to the Partial Offer or otherwise. The Partial Offer is made solely by means of the Partial Offer Document and the BLUE Form of Acceptance and PINK Voting Form accompanying the Partial Offer Document, which contain the full terms and Conditions of the Partial Offer, including details of how it may be accepted and how Hambledon Shareholders may cast their votes "FOR" or "AGAINST" it.





SP Angel, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Hambledon and for no--one else in connection with the Partial Offer and will not be responsible to anyone other than Hambledon for providing the protections afforded to clients of share price Angel nor for providing advice in relation to the Partial Offer.





Overseas Shareholders





The Partial Offer is not being made and will not be made, directly or indirectly, in, into or by use of the mails of, or by any means or instrumentality (including, without limitation, facsimile transmission, telex, telephone, email and other forms of electronic transmission) of interstate or foreign commerce of, or any facility of a national securities exchange of the United States, Canada, Australia, Japan or any other Restricted Jurisdiction where to do so would violate the laws in that jurisdiction, and the Partial Offer will not be capable of acceptance from within a Restricted Jurisdiction, nor will votes be capable of being validly cast "FOR" or "AGAINST" the Partial Offer from within a Restricted Jurisdiction. Accordingly, copies of this announcement and any other Partial Offer Documentation are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in, into or from a Restricted Jurisdiction where to do so would violate the laws in that jurisdiction, and persons receiving this announcement and any other Partial Offer Documentation (including custodians, nominees and trustees) must not mail or otherwise distribute or send them in, into or from such jurisdictions as doing so may invalidate any purported acceptance of the Partial Offer. Any purported acceptance of the Partial Offer resulting directly or indirectly from a violation of these restrictions will be invalid and acceptances of the Partial Offer made by a person in a Restricted Jurisdiction or any agent, fiduciary or other intermediary acting on a non-discretionary basis for a principal giving instructions from within a Restricted Jurisdiction will be disregarded.





The availability of the Partial Offer to Hambledon Shareholders who are not resident in the United Kingdom may be affected by the laws of the relevant jurisdictions in which they are resident. Such persons should read paragraph 9 of Part B of Appendix I to the Partial Offer Document and inform themselves of, and observe, any applicable legal or regulatory requirements of their jurisdictions.





This communication is not an extension of the Partial Offer into the United States.





Publication on website





A copy of this announcement will be available free of charge on Hambledon's website at www.hambledon-mining.com by no later than 12 noon (London time) on 22 November 2012 and during the course of the Partial Offer, subject to certain restrictions relating to persons resident in Restricted Jurisdictions.





This information is provided by RNS





The company news service from the London Stock Exchange





END





MSCLLFLELVLLFIF





(END) Dow Jones Newswires





November 21, 2012 10:14 ET (15:14 GMT)
>

[chestnuts] 21/11/2012 14:59

I think the deal will go through and with in a month they will have a placing of around £20m at around 1p, and all the pi who sold out would not be able to refuse such an offer after selling at 2p, So then we will have a company fully funded PI feeling smug having got in at 1p after selling out at 2p, every one will be happy.

Also i will add the hmb board as been a very unhappy place for quite some time, but when i read other gold mining thread, they read just as unhappy.

[frogkid] 21/11/2012 14:54

yep Tim, agreed. This will go through at 2p.

[timgw] 21/11/2012 13:45

I will be surprised if between them AR and Mr Kablan (concert party) don't get 51% of the total. If they do not get 51% any fall in the share price from current levels leaves the door wide open for them to do a bit of cheap Xmas shopping. Mr K would not have bought his 9% if he had not discussed and planned to make some serious wonga from his investment. I'm looking forward to Friday!

[j4yjaybee] 21/11/2012 11:08

Thanks Chip appreciated.

JJB

[chipperfrd] 21/11/2012 10:58

J4yjaybee

It has to be the same offer price for all. So if they fail to get their minimum of 50.1% this week then it is likely to be extended at the same price. If they were to raise the offer price it would apply to all acceptances.

[elban] 21/11/2012 10:25

They will get their shares at 2p,

If they don't - expect the share price to collapse to under 1.2p (which is what the remaining 40% are already priced at).

[j4yjaybee] 21/11/2012 10:22

I'm sorry for the stupid question.

If you have offered your shares or a percentage of yours shares at 2p and AR do not achieve the 50% is your offer immediately withdrawn.

My question really is are all holders in this together or can AR accumulate and if they do not aquire enough shares, offer 2.5p for the for the remaining shares they need?

[chipperfrd] 21/11/2012 09:57

Deadline for the offer is 1pm on Friday.

Some of the nominee brokers will have needed to set earlier deadlines - mine is 12:00 today.

I assume AR will have the final tally on Friday afternoon so we will probably get an announcement then as to whether the offer has gone unconditional or not.

[captain_crash_and_burn] 21/11/2012 09:23

I think 4p is wishful thinking.

Current price of 1.6 ish does lend support to the idea the markets not sure this deals gonna go through, but the deadlines passed now so all votes should be in and we should know soon enough. Anyone have any idea when we'll hear the final news?

[sequoia] 20/11/2012 21:22

Not sure they will get their allocated amount of shares at this price,my thinking is that they would have to increase the offer to a more realistic price of around 4p to cement the deal. That is my opinion,FWIW.
seq

[phillis] 19/11/2012 16:08

if you want to hang around tender your 60% and buy the same at 1.66p