Hambledon Mining Share Discussion Threads

[boadicea] 28/11/2012 00:26

My nominee holding appears to have been split into two parts (and could perhaps have been three) which are AR assented, Excess tender application, (and presumably non-tendered holding if I had any).

Clearly, I could sell any non-tendered shares (if I had any).
Can I sell the AR assented shares? If so, would they automatically remain assented - in which case they should command a premium equal to a minimal discount from their imminent 2p liquidation.

Also, would there be a separate market value for tendered excess holdings?

It all seems very complex!

With respect to the "no assurance" of admitting acceptances after 30th November, I assume that this is the date on which any scaling down of Excess applications will be calculated if required, in the absence of which further late acceptance (from whatever part of any holding) would be admitted up to the 60% limit.

The clarity of the whole process seems to have fallen somewhat short of the desirable for the less familiar with City ways.

[griffin4] 27/11/2012 21:40

Thanks for the reply guys.

[boadicea] 27/11/2012 17:20

The offer is still open at least until 30th Nov if your broker will/can accept/implement the instruction.
From the RNS of 23rd Nov the actual statement is -
"The Partial Offer will remain open for further acceptances until 1.00 p.m. on 30 November 2012 in accordance with paragraph 1(d) of Part B of Appendix I to the Partial Offer Document. There can be no assurance that the Partial Offer will be open for acceptances beyond that time and date."

I should contact him asap - GL.

[buoycat] 27/11/2012 11:04

If your shares are held in Crest you vote for the offer with the pink form (too late now of course) but your holding stays intact unless you instruct your Crest broker to offer up your shares.

[chipperfrd] 27/11/2012 01:43

Griffin,

The default was probably (1). But why not just check with the broker to see if your holding is still intact?

[griffin4] 26/11/2012 22:22

question, my broker sent me a letter asking what i wanted to do,

1 take no action,
2 vote for offer & accept cash offer on X amount of shares
3 vote for offer only
4 vote against offer,

need to return form by 20th november,

ive just returned to the UK from holiday, my question is, what happens to my shares ??
thanks in advance

[timgw] 26/11/2012 13:44

TVM for the cash date chipper. I must pay more attention at the back of the class! Having made a good cash profit from 1.1p to 2p over the last few weeks I am prepared to sit out any remaining loss for while and see what happens. I took my punt out of RIO and now have to decide whether to put it back there or go for more thrills with MWA. (Not a ramp, just another iffy share I am in!)

[chipperfrd] 26/11/2012 13:38

Capt,

Which comes back to the point I was trying to make last week. With 60% of the stock now shifted into AR's hands, just how many sellers below 2p can be left in the stock?

In order to buy you have to have sellers. Bit early to judge but my guess is that the vast majority of current holders would now require a lot more than 2p to part with stock.
Chip

[captain_crash_and_burn] 26/11/2012 13:26

A wait till 6th December, grr, I want my money now.

Tempted to pop a small punt back in now but think I will refrain.

This could now have some legs so for the those that srayed invested, I wish you the best of luck.

Looks like the vast majority of PI's took the offer, says alot about how fed up we are with this co eh.

[chipperfrd] 26/11/2012 10:52

TimGW,

According to the HL website it is the 6th December.

[timgw] 26/11/2012 10:46

I suppose that the next question for those that have tendered a few, is when do we get the money?! (For the record I'm still holding 250k shares).

[phillis] 26/11/2012 10:26

THE OFFER HAS BEEN DECLARED UNCONDITIONAL!

[chrisdgb] 26/11/2012 10:13

Expecting this to go through and the price ultimately grinds higher..

[phillis] 24/11/2012 19:47

if you hold your stock in nominee account it will depend on the blended tender

[petwood] 24/11/2012 18:23

Thanks Chip, I have now sussed it.

[boadicea] 23/11/2012 23:56

On current figures, those who tendered over 60% would get their fill. However, it now appears that if more than the allowed balance of the 60% arrive by 30th Nov, downscaling will be triggered. It might have seemed fairer to take the latecomers on a first come or 'lucky dip' basis.

Do I read this correctly?
As it is, they could very well end up with a large number of minuscule holdings due to a minuscle downscale - e.g. someone tenders all of 10k shares and has the 4k downscaled by 1% and ends up with 40 shares.... Or is there a non-proportional downscale formula to avoid this?

[chipperfrd] 23/11/2012 22:30

Petwood

You are welcome.
Slightly difficult to find.
Top tab marked 'Share Research & Prices'
Then 'Corporate Actions'
Then 'Show current corporate actions'
will show all current actions.
(HMB now showing 'Cash due: 6th Dec')

If you need to make an election you then need to log in.
Chip

[petwood] 23/11/2012 21:46

Chip,
Thanks for that, I'll remember to checkout Corporate Actions in future.

[chestnuts] 23/11/2012 18:43

Loppy
AR rep told me the same thing, but when i quizzed him in what way will funding come he would not say, i mentioned a loan and he said no, what other funding choices do they have, as far as money goes they are still in the same boat unless they sell some thing.

As far as local knowledge this is like saying we can now tell the judge to let HMB have the fines back and the government agency to let Akmola go through.

[loppylugs] 23/11/2012 18:34

TD has the reputation of being a rather knowledgeable, hard working mining engineer. Indeed, solely from an engineering perspective, he has acomplished much at HMB.
This deal is likely to allow HMB access to 'local knowledge'and additional (viable) funding opportunities.
It is now very possible that between them AR and HMB will unlock the evident value here.

[1nf3rn0] 23/11/2012 17:48

Almost, you and i having different views doesn't necessarily mean we're different people. Kerrie is too clever to be fooled by that :-)

[timgw] 23/11/2012 17:22

"Golds just rocketed I see"

Anyone know a reason why? Quite a sudden rise for a Friday afternoon.

[phillis] 23/11/2012 17:12

those that stay might actually find that free from external hindrances TD is actually more than competent at mining
why else would the Ass's take him on?