OTCQX:DMMIF - Post by User
Post by
Malpeque2on Oct 11, 2019 11:47am
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Post# 30222196
Titan Circular Filed
Titan Circular FiledPage 20 has a summary of what happens in the attempted "merger". After the expiry of the offer, IF more than 50.1% is tendered.
They take up 50.1% but less than 2/3rds...............Core will continue to trade on the TSX and be a reporting issuer in Canada.
Titan will try and effect a merger if they have less than 2/3rds but over 50.1%. Thru a meeting and a vote. More time and money to do this!!
I assume at more than 2/3rds accepted they will be successfull at a compolsory merger as CORE will not continue to trade and not be a reporting issuer, so only a large shareholder going for apparaisal rights would continue after this 2/3rds threshold.
If they get 90% or more they do a cumpolsory merger, but you still have apprasial rights.
Probably the route Keith Piggott will take. He doenn't have to declare for or against the offer or merger and exercise his rights of dissent to go for CASH consideration whatever he can get better than the Titan shares at the "assumed" or "illusory" value.