RE: RE: Thoughts on this deal. Re:EZ and MWS are u Thanks. I tend to write too much when I post, so I don't do it often. But I follow this board most days.
Yeah the 23 million and all the payments are fully costed in the offer. See Proforma use of Proceeds. That's cut and pasted from the news release.
Its hard to say what people are doing now. Certainly some new players won't roll the dice on saying no. However, it plays out the same for any new buyers whether they are under water or not. Obviously I'd be less angry if I just bought in and be inclined to just take the merger arbitrage at this point. But your right a lot will just take the deal unfortunately. So its important to make a stink, or actually vote. FYI its 66% of voted shares have to approve it I believe. Vs shares. So its important to vote when the time comes to do so.
I don't think the 500 share sales are anything then a computer just trying to get rid of somebody's position. That's normal. If you have a large position you're trying to unload its better to do it in small lots over time then in larger ones all at once. The problem is lack of buyers here as this company has a million issues as we all know.
And Re that big offer at 18.5 c. Its guess who RBC. Wouldn't surprise me at all if it was trying to push it down. BC that's just dumb to post that size like that if you actually want to get filled.
CM
Proforma Use of Proceeds
Upon completion of the AGA Transaction and the Gold One Transaction the Company will receive an aggregate of $405 million in cash at closing of which $30 million will be held in escrow accounts. The Company expects that it will make the following initial payments(1) to securityholders from the proceeds received on the closing of the Transactions, after deducting approximately $23 million in operating and transaction related costs(2):
| | (in million of US$) |
| | |
| Notes
Debentures
Shareholders | $167.7
$147.7
$36.6 |
and
The balance of the funds held in escrow will be disbursed following the release of the Escrows. Assuming no claims are made, the amount available for distribution will be $30 million which the Company intends to distribute as soon as legally permissible as follows:
| | | | | Debentures
Shareholders | $4.6
$25.4 |