Metals Exploration Share Discussion Threads

[milo78] 09/3/2011 09:47

No raised offer. Offer at 13p remains until April 14th. Investors who have accepted can get their shares back between April 1st and April 14th at 13p plus stamp duty.
Minority shareholders protected: Candys will only have 65% votes; 75% needed on all resolutions; at EGMs RHL and Candy can only vote the same way or not vote; Independent Director appointed by RHL has power of veto on all Board descisions and more

MTL will have at least £45m in the Bank and depending on the amount of rescinders a potential of a further £20m plus as Candy and RHL keep their 65% and 18% shareholdings respectively

All shareholders should be happy

[dick grasso] 09/3/2011 08:40

I Candy likely to raise his offer or sell his shares here? thanks! (or neither?)

[dougcsv] 09/3/2011 08:38

I'm a little surprised there hasn't been more comment on this - maybe it's too early? It is pretty complicated and I guess some were just hoping that Candy would be told to make a higher offer. Which might explain the drop this morning - or maybe it's just they are headscratching too about what the implications are.
As usual the 'authorities' manage to avoid actually having to make a decision !

[garrymorrow] 08/3/2011 20:39

Thanks Tom. Guess I'll have to contact my broker. Well done and thank you all!

[tombarr] 08/3/2011 17:58

Yes, if they have taken the 13p off Candy they can buy them back at 13p (paying stamp, the govt not giving anyone a break, unless you happen to be burning poppies in which case it's only £50, and please carry on collecting the benefits).

[garrymorrow] 08/3/2011 17:45

Will past shareholders be offered the resinding and return of their shares? Or will they have to approach the company? Great news, well done the holders!

[tombarr] 08/3/2011 17:22

Hideously complicated agreements but Yes, it definitely looks like the minorities have won; there is a right to rescind the 13p offer if a shareholder has taken it, albeit they have to swallow the stamp duty paid to buy back in.

The telling thing is that Holzberger is rescinding, so the offer at 13p is definitely dead. You have to wonder exactly what the Complainant Shareholders had on Candy as evidence – it must have been more than my point about the awful little defecating dog. Mr Edwards looks like the minorities' protector (or his proxy) going forward, and he has my thanks for that.

50p looks like the realistic target price in the near term...

[tombarr] 08/3/2011 17:03

F56K me, it's out 2 minutes later! We have won against Candy!

[seagreen] 07/3/2011 13:02

Dougcsv.....Directors prepared to convert shares at 12p.....so presumably any new offer will be at greater than 12p or indeed the Directors have won?



interesting times 17.5p to buy someone bought 58,000 at 16.75p

fingers crossed

[holism] 22/2/2011 16:52

Whatever happens the company needs to sort it out quickly get on with raising some money and move forward.We have plenty of gold to mine, the feasibility study has been done and that is why Candy tried to buy the company at such a discount.
dougcsv- I think it was 16.5p

[dougcsv] 22/2/2011 16:43

seagreen, there is another possibility which is that Candy is told to/agrees to make an improved offer - which if they decided that he and the other lot were acting in concert would prob be around the price they last bought their shares. I haven't checked on that yet. I think this is the more likely scenario and have thought seriously about having a punt on that basis. IMHO of course..,

[seagreen] 22/2/2011 16:16

way I look at it is if you buy at say 16.75p your down side is 3p and if the takeover is thrown out you have an "unlimited upside"

so worth a punt as it could go to 50p to a £1 if its thrown out..................
or lose 3p if its not............

my kind of bet

[benson384] 22/2/2011 13:07

Ditto that Doug.............

[dougcsv] 22/2/2011 13:04

Giantpeach2, What news is that - i don't see any ??

[seagreen] 21/2/2011 21:30

quite a few sages saying MTL may be now finally right but time will tell I guess

[pelleeds1980] 21/2/2011 13:34

Thanks for finding/ posting that seagreen

[seagreen] 21/2/2011 09:48

Can you print the copy of the article I saw 200,000 shares that looked like a buy go through at 16.45 on Friday as have been monitoring the volume for a while

[benson384] 20/2/2011 12:59

MTL in Mail on Sunday, article covers that the matters with the Candys has been resolved......but does not say how. Is it an increased offer or a deal with minority holders. Either way looks interesting for next week.
Bon chance.

[lord badger] 28/1/2011 15:08

Thanks holism. Could be a long wait. Heard that they HOPE to get a decision in Q1!

[holism] 28/1/2011 14:38

Relax I doubt this share will be taken over at this point. I can see this share price going North once the takeover panel has jumped off the fence.