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Bullboard - Stock Discussion Forum Afferro Mining Inc AFRIF

Metals & Mining Industrial Metals & Minerals

GREY:AFRIF - Post Discussion

Afferro Mining Inc > Formal Offer
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Post by LTGoldBull on May 22, 2013 6:07am

Formal Offer

Under the agreed terms, IMIC will offer for each share of Afferro:

  • 80p in cash, plus
  • a 2-year convertible loan note of with principal value of 40p.

This combination of cash and convertible loan notes, which values the current issued share capital of Afferro at approximately US$190 million, replaces the three options proposed in IMIC’s announcement dated 17 April 2013.

 Cheers, Mark (80p x 1.55 = cad$1.24 cash + 40p 2 yr convertible note at 8%)

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Afferro Mining Inc