Post by
dcjones4396 on Jul 12, 2021 3:00pm
Details, Details, Details...
Does this sound good to you?
The Gibraltar tracking preferred shares issued to Continental have a paid up amount of Cdn. $62.77 million and are redeemable for Taseko common shares upon the occurrence of certain value realization events for the Harmony project. The Gibraltar tracking preferred shares are redeemable at specified prices per Taseko share starting at Cdn. $3.39 and escalating by Cdn. $0.25 per year. If a realization event does not occur within ten years, the Gibraltar tracking preferred shares shall be redeemable for Taseko common shares at a deemed price of the greater of the average 20 day trading price of Taseko shares and Cdn. $10.00 per Taseko share, being approximately 50% of Taseko’s all time trading high. The Taseko shares issued to Continental on the realization event will in turn be distributed pro-rata after adjustment for any taxes, to the holders of the Continental redeemable preferred shares. -
Comment by
nofluff on Jul 12, 2021 3:59pm
No dc. It is confusing. I think it says we pay 62 million max. on an event. Does that mean we just forked over another 10% of the corp to sell harmoney?? If so. Class act time. Easy to fix. Just give us all the numbers. Market says, all still good. And likely so. But I still want the numbers. It looks to me tgat principles get bought out and sh take total risk. Nf
Comment by
nofluff on Jul 12, 2021 4:01pm
It did work at htr. Of course better for hdi than sh. Time will tell. nf
Comment by
nofluff on Jul 12, 2021 4:13pm
So when does the event happen??? How much is the dilution??? The pee pee is still on everyones minds. Stu is just the fall guy. Hdi still pulling the strings. Clear it all up by giving numbers. nf
Comment by
JCSunsfan on Jul 12, 2021 4:22pm
This deal was made a long time ago. Crazy it is still on the books.
Comment by
nofluff on Jul 12, 2021 4:38pm
I understand the deal. It stands. Just like fn deals. They stand. But the vague terminology. An event??? Does the event happen now?? When ipo in place??? When permit in place?? Easy to answer those qs. Mushrooms have no trust in this corp. Ergo 2.50 cad sp. Half what it should b. bf