Highland Gold Mining Ld Share Discussion Threads

[sharekitchen1974] 31/7/2020 17:42

Move your money to AAZ, also pays a good dividend

[srpactive] 31/7/2020 16:29

Ok thank you all.

I suppose as we have said done deal at 300p move on.

[gary hindsight] 31/7/2020 16:28

I don't see how he could mount a counter if as he has agreed to sell all his shares to the bidder. At least that's how I interpreted the original rns

[itsyou] 31/7/2020 16:27

LSV are just notifying of their holding, as per takeover rules. In fact they've been a seller, down from 11.64m

see top shareholders

[zangdook] 31/7/2020 16:25

Why do you say not Mr A? It's clearly stated in the RNS that he is a part of it. Are you perhaps referring to the later RNS which refers only to those directors who have agreed? Abramovich is not a director.

edit - posts above beat me to it.

[loganair] 31/7/2020 16:23

itsyou - 100% correct

[itsyou] 31/7/2020 16:22

Mr A isn't a Director, so wouldn't be included in a Director sale RNS

[gary hindsight] 31/7/2020 16:12

Didn't abramovich agree within the first rns this morning I thought he was part of the 40%?

[zockempire] 31/7/2020 15:56

Yes, and yet we are 60%. So sell on the cheap now for 300p just out of fear? It is probably not even planned to take this from the exchange. It is unrealistic even for them to assume they will get all the shares now with this offer.

[zangdook] 31/7/2020 15:29

The only holders over 3% other than the 40% who have agreed to sell are Van Eck, Acadian and Premier Miton with 16% between them.



The other 40-odd % must be little boys like us, or sub 3% institutions. Assuming the website is accurate. It claims to be up to date.

[zockempire] 31/7/2020 15:22

Russia's largest Goldminer Polyus Gold has a very limited free float, yet the stock price has risen 100% since March...At the Highland Gold annual meeting several proposals have been reject (40% against). This is a sign, that there are battles ongoing. I doubt that larger shareholders will sell en masse to Fortianna here at 300p .

[gary hindsight] 31/7/2020 15:14

You are probably more accurate on the percentages but I guess if they get to 75% most shareholders will capitulate rather than holding a minority stake with no liquidity

[gary hindsight] 31/7/2020 15:12

Agreed. My point was if they don't get enough to go unconditional then the offer lapses. If they get enough as you say I also think it's 75% then it becomes mandatory so thereby 100% and nothing left to stay listedSo we are aligned I think

[zangdook] 31/7/2020 14:59

They don't need 100% take up for the offer to go ahead. They need enough acceptances that they have over 50% total. That's almost guaranteed to happen - they already have over 40%. The question is, what do they do about remaining shares. Above a certain level of control they can delist (75%, I think) and above a higher level (90%?) they can compulsorily purchase all outstanding shares.

If they wind up with between 50% and 75%, the company will probably remain listed.

[gary hindsight] 31/7/2020 14:26

How can it still be on the exchange if there is 100% take up? If it doesn't get the required level of votes in which case the the offer fails and they will hold 40% and the remain shares stay listed and tradeable and they may be force to sell downIf the offer goes through it's a cash offer and they would own all the shares so there is nothing left to trade

[zockempire] 31/7/2020 14:16

Don't you think that to panic here is a bit premature at this stage? Ok, Abramovich sells his stake. Maybe he did want to sell it already for a long time and it's possible now in this 2000 gold environment. I can read nothing here about a delisting. And why should they take it private? As long as the company is still on the exchange parts of it can be sold more easily in the future...

[wilco1000] 31/7/2020 13:18

Out of interest, what do people think the fair value of the company as of now and with Kekura coming online next year should have been?

[zangdook] 31/7/2020 13:13

The two AGM special resolutions failed to pass. If 41% (of 68%) will take the trouble to vote against an AGM motion, perhaps it's not as cut and dried as it seems.

The discount is getting a bit high now.

[gary hindsight] 31/7/2020 13:11

It's about timing. You will have to wait for a while to get the £3 per shares. Some are deciding the wait is not worth it and would rather take a few pence less and have the money now and invest elsewhere

[srpactive] 31/7/2020 13:06

L

Yes all over.

[2603] 31/7/2020 13:06

I can buy 10k worth of shares at £2.96 a share. How come? Why would it drop below £3 if it’s a minimum offer.