Katanga Mining Ltd Ord KATFF

RE:RE:RE:RE:RE:More questions than answers

[topdop]

Yes, @Sogohubidu201 is correct in part, in that Minority Shareholders have protection under the requirements of Canadian Securities Law MI 61-101. However a note of caution, there are certain transactions in which MI 61-101 doesn't apply. I recommend people read:

https://www.stikeman.com/-/media/files/kh-guides/ma/ma-in-canada-minority-shareholder-protections.ashx

Generally, determination of Formal Valuation can be open to innumerable methods of calculation. Yours above may be 25% different to Goldman's and that may be 30% differnet to BMO's.

Under MI 61-101, Formal Valuation can only be supervised by either the BoD of the issuer or an Independent Committee of the Board (and only an Independent Committee for insider bids, which would be KAT). 

And then you have the Majority of the Minority vote hurdle requirement also to pass.

However, none of the above would stop GLEN buying more stock in open market trades. Read my SA KvN KAT Blog and you will see how an acquirer took advantage of Canadian loopholes to significantly lower their actual final average cost of acquisition. When they decided years after they sent out their first bid to pay Formal Valuation (by way of a Stat Plan of Arrangement), the bid was some six times higher than their first years earlier.

Let's be clear, I don't want Glencore to take me out. I am happy to wait for 2025 and a supply-side crisis in Co. But we do need to question GLEN's rather specific langauge from their PR to pursue answers.

These are my views only. Thanks for reading.