Peregrine Diamonds Ltd. PGDIF

What happens Aug 31

[89FoxBody]

Hey everyone, feel like I know u all, I've been a PGD shareholder for 6 yrs ish, I appreciate all your posts, very informative. I do have a question about the DeBeers transaction. Can someone share a little info on what happens to your shares of PGD on or about Aug 31? Do u just cash out at final trading price or do they start trading under a different symbol? I apologise for the question , sorry I am relatively new to this. Thnx in advance, any info is much appreciated.

[mill44]

Everyone who held shares on the 15th (if I remember correctly) will get a package with information in the mail before the end of the month. There will be voting about the offer, which most likely will be accepted, then a date set when the transaction will be finalized (expected to happen in Sept). At that time all the shares will be transferred to DeBeers. Shareholders will be paid 24c/sh. PGD won

[89FoxBody]

Thnx mill

[schocor]

And just to add one timbit to Mills fine post - you don't actually need to do anything (instructions etc). Your broker will transfer the shares, get $.24 per share (hopefully more) and deposit this money into our account.

[ekim]

Based on  the cash advance of about $600K that De Beers will feed to the Peregrine Diamonds entity after the transaction, I suspect PGD will live temporarily as a subsidiary of De Beers until they wrap it up. I suspect the $600K might go to the final severance as they take the assets and say bye to the few employees working at PGD right now.  LONG...Whiteknight! EKIM

[lovecarats]

You always have the option to Dissent, which is refusing to accept their offer and hoping that a judicial 'fair value' determination could be higher. Based on personal experience it may not be worthwhile. Dissenters of BIM have waited 7 years so far and no closer to resolution. Good luck all. LC

[ekim]

6 options here?: 1 - Vote Yes 2 - Vote No 3 - Don't vote 4 - Dissent at least 2 days before the meeting 5 - Ineligible to vote if you bought shares after the July 25th settlement period 6 - Sell in the open market. (Ironically if you owned the shares before July 25th...you could still vote) I would suspect that if you bought shares after July 25th and try to dissent..you would probably have

[shneps]

So, based on that, from July 19th to July 25th (5 trading days) was the only available time for any interested party to gather enough shares to be of any viable voting leverage. Approx. 15% of the total float traded in those 5 days. Between the Friedland's and friends they have stated 44% voting in favour. Acceptance of the agreement is 66%. I would suspect that the vast majority of trading