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.

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

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Comment by longonMJon Mar 09, 2018 8:18pm

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Post# 27695428

RE:RE:RE:Mar 9 - Notice of Change now on Sedar

SB: Looks like you are still misunderstanding something critical here.

The only reason that $98M dollars is being paid out at this point in time is that only 70% of the shares have been tendered so far. If you take 70% of the $140M maximum cap amount set aside, guess what.......it is equal to $98M dollars. To me, this means that with just 70% of the shares tendered so far, they have already surpassed their total cash allotment of $140M dollars.

So yes, anybody that selcted the all-cash Option 2 will see the $43 per share paid out for only a portion of their total share holdings and clearly not for all 100% of their shares.

Sbeavenx wrote: No proration means that not many shareholders selected the Cash or Cash/.Share option, and did not exceed the 140 million available. As an example, if only one shareholder with 100 shares requested the Cash option, and every other shareholder requested the Share option, then there would be no proration and the total cash paid would be $4300 in total.

I kinda believe what Laurel Hill told me because the original offer said the $140 million was to be prorated when the take-up took place. The fact that only $98 million is reuqired leads me to believe that no proration will happen, otherwise the full $140 million would have been required.

Again, only reporting what Laurel Hill tolf me.

longonMJ wrote: 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.