RE:We need only 34 % of shareholders to vote against...sailor8 wrote
... and this fraudulent and unclear "offer" will collaps.
I
do not "tender" any of my
PVG shares. I just only voted "Against" the Newcrest stink "offer". In worst case that this fraudulent filthy deal goes through I will receive the "default" option, which is 50 % cash and 50 % NCM shares. I know, that the Newcrest share price will tank as soon as these fresh printed 80 million new shares come to the market. Mostly they will be sold.
But I know also, that Newcrest is forced to stay within the 50 :50 % "proratio" /proportion, due to their bank loans. This "election choice" is a farce, to lure people to tender their PVG shares for the cash option !
Newcrest can print new shares but they can not print money ! You will not receive more money than others if you "tender" your PVG shares for the money option. The money comes from limited bank loans. The whole available cash sum they will have to pay out to every PVG shareholder has the 50 % "pro-ration". There will be no idiot who elects to receive more than 50 % in form of Newcrest shares.
Only if there would be some idiots who choose to receive more than the forced 50 % Newcrest shares, then these idiots cash parts would be available for a higher cash quote among those who elected the cash option. As said, only idiots would choose such an option, as it it sure, that the Newcrest share price will tank immediately after the 80 million fresh printed Newcrest shares hit the markets.
The terms of the offer are as follows (
subject to proration):
Option 1 - Take no action
Option 2 - Tender shares for cash election: receive the USD equivalent of 18.50 CAD per share tendered and accepted, less any applicable withholding tax
Option 3 - Tender shares for stock election: receive 0.8084 shares of Newcrest** per share tendered and accepted
**The ordinary shares in the capital of Newcrest will be ineligible for DTC services. The share entitlement will be allocated outside DTC. ...
Proration: Pro-ration will ensure that the aggregate of the All Cash Consideration payable and the aggregate of the All Share Consideration payable will each represent 50% of the total transaction consideration.
Vote Against on your "
Voting Instruction Form" and submit your form.
Stop this whole intransparent filthy chaos. It is only created to steal your big PVG gold ! Forget about this recent "Election" farce. Forget that "choice", which is in reality not any choice, as there is the fixed "Pro-ration".
Do not "tender" any of your PVG stocks.
PS: I received my "Voting Instruction Form" from the broker on
December 23 of last year by email. You may check your emails from that day, if you miss this form or you may contact your broker about it and ask for your PVG "Voting Instruction Form".
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"As said only idiots would choose such an option."
So you will be choosing that option then.