Prosperity Minerals Share Discussion Threads

[joe say] 03/9/2013 08:36

Good luck to all in your next venture - in one sense disappointed with the outcome here but there's no point worrying over what might have been

[edmundshaw] 03/9/2013 07:56

All over now. Bye, guys...

[dr contrarian] 14/8/2013 12:13

LA, Scottie - Thanks, good to see that PMHL followers are finally being offered a half decent price for their shares.

[celeritas] 14/8/2013 08:40

Sold mine back at 125p, moved into hawk, it's doing the right things now.

[beefeater25] 14/8/2013 08:35

Where is everyone putting their money after this one?

[scottiedog4] 13/8/2013 14:21

Yes Dr C. Thanks from me as well. Your information kept me in the game when otherwise I would have thrown in the towel. Having bought very high early on your informed comments on the property sales meant I was able to top up at very low prices and come out with a reasonable buying average overall.

[look alive] 13/8/2013 14:08

Bid accepted, not generous to say the least but much what we expected. Many thanks to you Doctor C for keeping this Board active and interesting.

[actuary78] 13/8/2013 12:27

well done fft - I doubt there much volume there though. Now 128p to buy 10k which is about what i'd expect at this stage.

There is often some value left on table for small cap M&A.

[fft] 13/8/2013 08:33

even after the offer came out yesterday it was possible to buy at 126 (which I did). very odd given a payout of 130p in a about a month.

[dr contrarian] 12/8/2013 21:48

Even closer to a done deal now the offer document is finally out ...

PIHL need 90% of shareholders to accept the bid, 89.5% have given irrevocable undertakings to accept, I think the remaining 0.5% will be achieved very quickly.

PIHL ordinary resolution requires simple majority, with the Chairman owning 65% the result is clear.

[fft] 12/8/2013 15:25

offer doc out. closing date 2nd sep.

[dr contrarian] 05/8/2013 17:52

Today's news on irrevocable undertakings and the consequent price increase means that this is now very very close to a done deal.

PMHL has been a frustrating / interesting roller coaster ride - glad we are ending on a relative high - the assets are worth substantially more than the take-out price - but we were never going to reach NAV as a Chinese company and being listed on AIM.

Will be accepting take-out terms when they are forwarded to shareholders.

[fft] 05/8/2013 16:13

since the price to buy has gone to 130p in the last few minutes, I guess the offer document will be out in the next day or two.

[celeritas] 05/8/2013 12:17

It was nearly always a done deal, just a few Ts to cross. I was surprised I was able to add under 110p. Sold all mine at 125p the other week.

Moved a lot into hawk at circa 6p, just like pmhl I go back years with it. The new bod are on the right track after getting shot of the pretenders.
Nice to see you can now ISA aim stocks.

[actuary78] 05/8/2013 12:07

Now it looks like a done deal, and one that they want wrapped up soon given the dates mentioned. I've just bought another 16k at 122.31 via a spreadbet.

[dr contrarian] 02/8/2013 08:21

Offer moving along, PIHL SGM vote next - though with Wong already voting for the takeover offer - this is a formality.

[dr contrarian] 01/8/2013 10:26

I expect the deal to be done and dusted in the next 4 to 6 weeks - perhaps sooner.

The bid timetable will be released after the PIHL vote, the date of the PIHL vote is to be announced before the 5th August (next Monday)

Xd is 25th Septempber, so I think they will want it tied up before then.

Worth noting also that the 5.6m management share options (worth £3.3m) also expire on the 27th Oct this year.

[fft] 01/8/2013 10:16

picked up another 30k at 121.75 using a CFD. good return at 130p. I am surprised that the price is sliding. I presume that PIHL are waiting for the million win (or whatever it is called) deal to be finalised before going ahead issuing the offer doc giving the dates.

[beefeater25] 01/8/2013 10:10

If it looks like a done deal, still an opportunity for a bit of arbitrage here.

[dr contrarian] 01/8/2013 09:54

Rupe - Well done for giving it a go, 150p would have been a decent improvement, though I suspect the company did its research beforehand with the few major holders there are to assess what level would be acceptable. Did you get any responses from the institutions ? Are LIM based in singapore ? I am sure LIM will be accepting.

[rupe1958] 01/8/2013 09:47

I think we have to accept that £1.30 is a done deal here.
My attempts to link the insti holders to get them to ask for £1.50 haven't got far.
There's a big holder in Singapore which have definitely accepted.
Mackenzie's position still unclear but I think we can be sure they will accept the offer.
So I think that's what PI's should do as well, and then buy PIHL if we want to follow the story.

[dr contrarian] 01/8/2013 08:52

The Chairman certainly seems positive on PIHL's prospects, has been picking up all the loose stock over the last week.

[fft] 29/7/2013 12:02

PIHL annual report is out. forward looking comments re. performance of PIHL group in 2013/2014 appear far more optimistic than those in the PMHL offer document. :-)




quality of English is superb. I may invest in this company.

[rearsky] 26/7/2013 16:30

My gut feel is that the current acquisition of the 34% of PMHL by PIHL has a specific purpose: to help the financing of the pending US$500-650m Billion Win Capital Malaysian Iron ore Mines. Its deadline has been pushed to end of sep 2013.
We know that PMHL has a Real Estate cash and assets business worth north of US$400m valued at next to nothing by Mr Market. This war chest will surely reduce the funding needs for the Billion Win acquisition.

What worries me is that Billion Win is a related party transaction and that it is supposed to be funded with a lot of new shares and converts, and I struggle to understand who the real beneficiary will be: PIHL, or AWC? Will the valuation be "fair"? (sounds naive I know:))

Wong holds 79.26% of AWC which holds 70% of Billion Win capital. He also holds some Sun Honest shares (they have 15% of Billion Win).

Have you guys digged a bit into PIHL? Would need some help there to sort out the end game...

[dr contrarian] 25/7/2013 23:33

As mentioned earlier ...

PIHL, PMHL Management and LIM combined own around 75% of the stock, which is the key % necessary for delisting the shares from AIM.