Katanga Mining Ltd Ord KATFF

Final Short Form Prospectus is out

[topdop]

The Final Short Form Prospectus is out. My numbers weren't far off at all. I recommend everyone reads the document to find the answers to their questions.

The Rights Offering is for C$7,678,388,000 The RO will print 59,292,571,428 new Common Shares The Subscription Price will be C$0.1295 per Common Share Date and time of Record: KAT holders as at 5:00 p.m. (Eastern time) on November 22, 2019 (the "Record Date") One Right (the "Right") will be honoured for each Common Share held by registered holders Each Right entitles you to purchase 31.0858657370516 new RO shares The RO also qualifies for the distribution of the Rights as well as new RO shares and those Rights will be listed on the TSX under symbol KAT.RT for trading until 12:00 noon (Eastern time) on the Expiry Date.

So, yes, as I suspected, you can sell your Rights when they trade, or you can buy other people's Rights.

In the event that none of the holders of Rights other than Glencore exercises Rights and all of the Common Shares are issued, GLEN will acquire 59,292,571,428 Common Shares under the RO and will beneficially own 60,939,185,356 Common Shares representing approximately 99.6% of the then outstanding Common Shares.

I had calculated 99.3% so I wasn't too far off... it will all depend on how many Rights are paid for in cash by minority holders.

In the event that Glencore becomes the beneficial owner of 90% or more of the Common Shares of the Company, Glencore will be able to take the Company private without obtaining minority shareholder approval pursuant to the exemption in section 4.6(1)(a) of MI 61-101. See "Risk Factors". See "Standby Commitment".

Here are the Key Dates to pay attention to: Date that the rights will be admitted for trading on the TSX: November 21, 2019 Record Date for participation in the Rights Offering: November 22, 2019 Commencement Date of Rights Offering: November 26, 2019 Expected mailing date of the Prospectus and Rights Certificates: November 26, 2019 Date on which sale of Rights of Ineligible Holders by Subscription Agent begins: December 9, 2019 End of trading Rights on the TSX Noon (Eastern time): December 17, 2019 Expiry Time and Expiry Date 5:00 p.m. (Eastern time): December 17, 2019 Expected closing of the Rights Offering: December 19, 2019

***END

[johnny54]

So this is it? They are going to buy us out based on this 13 cents plus a buyout premium of posssibly 30 percent. Or they going to be even dirtier and bring this thing right to Zero. Any hope? 

[InternalAudit68]

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[stockhunter20001]

how much do think they will be fined?

[stockhunter20001]

@topdop @sogo @others , the only saver from all this mess, is the OSC: -Can the OSC let all this happen? -If yes, how low can KAT/Glen buy us out but still not fined by OSC? -If they go really low, how much can the OSC fine them? Those are very critical questions at this stage.

[DanGSstocks]

where did you get the info Topdop?  I dont see any NR anywhere. thanks

[shotfac]

https://www.marketscreener.com/KATANGA-MINING-LIMITED-1410549/news/Katanga-Mining-Announces-that-it-has-Obtained-Receipt-for-Final-Prospectus-for-Rights-Offering-Bac-29605777/

[stockhunter20001]

Read below: =================================================== Exemptions from Minority Approval Requirement (1) Section 4.5 does not apply to an issuer carrying out a business combination in any of the following circumstances if the exemption relied on, any formal valuation exemption relied on, and the facts supporting reliance on those exemptions are disclosed in the disclosure document for

[Brandonrr]

If KAT drops to 13 cent how crazy would it be to pick up 50 000 shares and take a gamble ??? Somone thinks there is money to be made volume is crazy....thoughts

[Nolimits]

Topdop, can we recover part of the losses via the sale of rights? Do you have any idea at what price the rights will trade at? thabks..

[InternalAudit68]

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[trader059]

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[topdop]

@Nolimits the Final Prospectus has set a date for admittance to the TSX for trading the KAT.RT Rights shares of November 21, 2019. The market will obviously set the price of KAT.RT's but a simple valuation for KAT.RT might be the amount that KAT common stock price per share measured above (or below) is minus the RO issue Rights price (which is Cad$0.1295) and multiplied by the

[topdop]

@Nolimits  ...and please realise that if KAT continues to trade BELOW the RO issue price, then our KAT.RT shares will not have a market - nobody will bid on them and they will effectively be worthless as a trade. That doesn't mean you won't still be allowed to use them to acquire the underlying RO shares. You can. But why buy RO shares at 12.95c each if you can buy any cr*p load you

[stockhunter20001]

@topdop, being the highest shareholder on this forum of this Kat c*rap, how do you feel? Did you sell any of your 1M shares?

[topdop]

Not sold any. Still hold 1MM KAT at 68c. May average down if it nears 8c. I've outlined my thoughts here enough. It's a sh**ty situation to be in and the best, speaking personally, I might hope for, is a five bagger from 10c in 36 months and a takeout premium ontop of that from Glencore. But that supposes many, many things biggest of all tis that GLEN leaves us alone... (I wouldn't)

[stockhunter20001]

it was a great stock, till Glencore came in.