Iron Brdg Res Inc. OEXFF

What will happen to my shares now?

[aidankj]

Can someone advise me please?

I have not yet tendered my shares. Since Velvet exceeded the requirement, I beleive my shares will be automatically cashed once the deal is closed if I don't tender by Oct 5th which the payment will be later than anybody who has tendered - please correct me if I am wrong.

My question is being that if I don't tender my shares by the extended date, they possibly offer me the higher price since they do not want to see a potential legal issue? 

What will be the best strategy for my situation now? Tender it and get paid and keep watching?

[dangood]

Depends. They have less than 90% of the shares so they do not have the support for a compulsory buyout of your shares. If they get the additional 9% they need in 10 days your shares will disappear. If they don't they will extend the offer. You get no extra money either way.

[dangood]

Depends. They have less than 90% of the shares so they do not have the support for a compulsory buyout of your shares. If they get the additional 9% they need in 10 days your shares will disappear. If they don't they will extend the offer. You get no extra money either way.

[aidankj]

Kingsdale responded as below You will be able to tender for more than the amended offer. In order to avoid a second stage shareholder meeting, if they are able to get to 90% tendered, then they will be able to expedite the consideration to the shareholders. As Iron Bridge is recommending that shareholders tender to the offer, it is recommended that you do so but ultimately it is up to you to

[dangood]

Depends. They have less than 90% of the shares so they do not have the support for a compulsory buyout of your shares. If they get the additional 9% they need in 10 days your shares will disappear. If they don't they will extend the offer. You get no extra money either way.

[aidankj]

Thanks Dandoo! Right now, the shares are sold at 0.85 which is slightly higher than tender price. If I will tender anyways, isn't it better to sell it now in market not tender it so little more gain ALSO instant cash? 

[CageyOil]

If you can make a sale at 0.85, go for it. Otherwise don't forget to mark the new tender date on your calendar if no one bites.

[ditchdigger251]

I talked with a Kingsdale advisor not long ago.  She told me that payment to IBR shareholders by Velvet will occur about 3 days after takeup up of tendered shares.  No specific takeup date was given but I imagine that they must make a decision to takeup by the date of the Oct 5th deal extension.  Having already 82% of shares tendered I imagine that takeup will be automatic since

[dangood]

They need 90% to do a compulsory buyout of your shares.

[dangood]

No one in their right mind would buy the shares at 85 cents so the only cost is brokerage fees which you can obviously avoid if you tender.