GB Group Ord Shs GBGPF

GB Group plc is a United Kingdom-based company, which provides identity data intelligence products and services helping organizations recognize and verify all elements of an individual's identity at key interactions in their business processes. The Company's segments include location, identity and fraud. The location segment includes address lookup, verification and capture; e-mail validation; phone verification, and data maintenance services. The identity segment includes document verification, data verification and identity investigation services. Its identity verification solutions can be configured to carry out a wide range of functions, including know your customer checks, anti-money laundering checks, age verification checks and liveness detection. The fraud segment includes transaction fraud monitoring, combating origination fraud and in-life fraud investigation services. It provides artificial intelligence powered screening for automatic onboarding or referral of customers.

OTCPK:GBGPF - Post by User

GB Group Ord Shs > Mar 9 - Notice of Change now on Sedar

<< Previous

Bullboard Posts

Next >>

Comment by longonMJon Mar 09, 2018 7:34pm

60 Views

Post# 27695273

RE:Mar 9 - Notice of Change now on Sedar

Definitely a case of you not understanding the situation here as what you are suggesting is mathematically impossible.

Of course, there will be proration for any shareholders that selected the all-cash Option 2. If there was no proration, it would mean that if all 17,847,341 shares had selected all-cash option, this would then necessitate a payout of over $767M dollars by Aurora.

This is clearly not happening as they very definitively state that they will be paying out the maximum amount of only $98M dollars for this 70.66% portion of the shares taken out.

Sbeavenx wrote: The Cannimed shares have been "taken up" as of end of day March 8, 2018. Payment to made within 3 business days at most from date of take-up. I undestand from Laurel Hill that there is no proration of cash, and those that selected "all" cash will recieve $43 in cash (but they don't always seem to know what is going on).

Excerpt from Notice of Change:

3. TAKE-UP AND PAYMENT FOR DEPOSITED CANNIMED SHARES
As of 11:59 p.m. (Pacific time) on March 8, 2018, a total of 17,847,341 CanniMed Shares, representing 70.66% of the outstanding CanniMed Shares, had been deposited to the Offer and not withdrawn. With all of the conditions to the Offer having been met, Aurora will immediately take up the deposited CanniMed Shares and pay for the CanniMed Shares taken up as soon as possible and in any event not later than 3 business days after the CanniMed Shares are taken up. Pursuant to elections made by the CanniMed Shareholders, Aurora will issue approximately 50.6 million Aurora Shares and pay approximately $98 million in cash. Aurora will take up and pay for the CanniMed Shares in the manner set out in Section 8 of the Original Notice of Variation, “Take-up and Payment for Deposited CanniMed Shares” and as required by applicable Canadian Securities Laws.