RE: Nautilus Hoax Article Have you been paying attention? NUS will gap up.
https://www.stockwatch.com/News/Item.aspx?bid=Z-C:NUS-2030671&symbol=NUS&news_region=C
Nautilus hostile suitor Bailey gets ex-adviser's support
2013-01-09 15:24 ET - News Release
An anonymous director of Gannibal Securities reports
ROBBERT GOODEN FROMER ADVISOR TO NAUTILUS WILL TAKE JOB AS INTERIM CHAIRMAN OF THE BOARD
Robbert Gooden, the former chief scientific adviser to Nautilus Minerals Inc., has joined Michael Bailey and his family office solely controlled by him in the commencement of a tender offer for all outstanding shares of common stock of Nautilus Minerals for 97 cents per share, net to the seller in cash.
Mr. Gooden is currently the chairman of Subsea Minerals Ltd. and was a former senior advisory board member to Nautilus Minerals. Mr. Gooden will assume the role of interim chairman of the board at closing.
Under the terms of the tender offer, the family office controlled solely by Mr. Bailey will commence a hostile all-cash bid to purchase all the outstanding shares of Nautilus Minerals for 97 cents per share for an aggregate purchase price of $237.99-million. This represents a 108.6-per-cent premium to the previous-day closing price of Nautilus's stock.
The tender offer is scheduled to expire at 12 a.m. EST on March 1, 2013, unless the tender offer is extended. The tender offer is conditioned on the tender of a majority of Nautilus's shares calculated on a fully diluted basis, as well as the receipt of certain regulatory approvals and other customary closing conditions.
Gannibal Securities has been engaged to act as adviser in this transaction, and will negotiate lock-up agreements with major Nautilus Minerals shareholders Metalloinvest (21.0 per cent), Anglo American (11.1 per cent), MB Resources (16.9 per cent) and Teck Resources (4.5 per cent). The law offices of Bacchus Law will represent Mr. Bailey in this transaction. The law firm of Fasken Martineau will no longer be representing Mr. Bailey in this transaction due to conflicts of interest with current board members of Nautilus.
The family office controlled solely by Mr. Bailey currently owns a minority stake in the company and is now making a hostile bid to acquire 100 per cent of the outstanding company stock with the intention of taking the company private to finance and execute the underwater mining business plan with Mr. Gooden's expert guidance.
Mr. Bailey, an experienced investor and resident of Canada, is an algorithmic trader and formerly a member of the Band of Scoundrels, an elite group of high-frequency proprietary traders that successfully shorted Citigroup and profited over $130-million in October, 2008.
The acquisition is expected to close March, 2013; however, the close date is subject to customary closing conditions, including regulatory review in Canada.