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#41 Dusty Mountain

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Posted 07 May 2018 - 09:26 AM

Scheme booklet mid July........

 

Timetable A Scheme Booklet is expected to be despatched to Tawana Shareholders in mid August 2018. The Scheme Booklet will include further details of the proposed Merger, an independent expert’s report, the rationale for the Tawana Board’s recommendation and other matters relevant to Tawana Shareholders’ vote on the Merger.


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#42 Dusty Mountain

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Posted 07 May 2018 - 09:26 AM

Scheme booklet mid July........

 

Timetable A Scheme Booklet is expected to be despatched to Tawana Shareholders in mid August 2018. The Scheme Booklet will include further details of the proposed Merger, an independent expert’s report, the rationale for the Tawana Board’s recommendation and other matters relevant to Tawana Shareholders’ vote on the Merger.


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#43 Dusty Mountain

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Posted 07 May 2018 - 09:26 AM

Scheme booklet mid July........

 

Timetable A Scheme Booklet is expected to be despatched to Tawana Shareholders in mid August 2018. The Scheme Booklet will include further details of the proposed Merger, an independent expert’s report, the rationale for the Tawana Board’s recommendation and other matters relevant to Tawana Shareholders’ vote on the Merger.


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#44 Dusty Mountain

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Posted 07 May 2018 - 09:25 AM

Scheme booklet mid July........

 

Timetable A Scheme Booklet is expected to be despatched to Tawana Shareholders in mid August 2018. The Scheme Booklet will include further details of the proposed Merger, an independent expert’s report, the rationale for the Tawana Board’s recommendation and other matters relevant to Tawana Shareholders’ vote on the Merger.


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#45 Krisjan

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Posted 07 May 2018 - 08:43 AM

Scheme booklet mid July........


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#46 Krisjan

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Posted 07 May 2018 - 08:42 AM

Scheme booklet mid July........


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#47 Dusty Mountain

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Posted 04 May 2018 - 05:10 PM

As per the below points we can deduce as JSE shareholders, and as eligible shareholder`s we will participate in the scheme and be issued with ASX consideration shares.

 

Question being: how do we trade those shares without making use of a oz broker with all the necessary financial and tax implications.

 

Interesting that Amal will appoint a sales agent to sell all ineligible shares.

 

Scheme booklet around 14 August may provide some clarity??????

 

 

 

 

Points effecting JSE Tawana shareholders: - exerts from merge file on Tawana website

 

 

 

Excluded Shareholder means AMAL and its associates. Excluded Shares means Tawana Shares held by Excluded Shareholders on the Record Date. Implementation Date means the fifth Business Day following the Record Date or such other date as is agreed in writing by Tawana and AMAL. Ineligible Shareholder means a Scheme Participant whose address shown in the Register on the Record Date is a place outside Australia and its external territories, New Zealand, Hong Kong, and Singapore and South Africa, unless AMAL determines that it is lawful and not unduly onerous or impracticable to issue or provide a Scheme Participant with an address outside those jurisdictions with AMAL Shares under the Scheme.

 

 

A Scheme Participant (other than an Ineligible Shareholder) who does not validly elect to receive SGX Consideration Shares will receive ASX Consideration Shares. Accordingly, a Scheme Participant who wishes to receive ASX Consideration Shares does not need to make an election under this clause 6.1.

 

 

Quotation of Tawana Shares (a) Tawana will apply to ASX to suspend trading on ASX in Tawana Shares with effect from the close of trading on ASX on the Effective Date. ( B) After the Scheme has been fully implemented, Tawana will apply: (i) for termination of the Official Quotation of Tawana Shares on ASX and termination of official quotation of Tawana Shares on JSE; and (ii) to have itself removed from the official list of the ASX and JSE


Edited by Dusty Mountain, 04 May 2018 - 05:11 PM.

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#48 Dusty Mountain

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Posted 04 May 2018 - 02:31 PM

In going through the Merged file from the tawana website, I have noticed a few interesting points...

 

"The Implementation Agreement also includes customary deal protections for both Tawana and Alliance including no shop and no talk provisions, mutual break fees and a matching right in favour of Alliance."

 

In my view this merger was initiated by Tawana and is open to other superior proposals (other mining groups) with matching right to Alliance.

 

---------------------------------------------------------------------------------------------------

 

 

"The Merged Group will, subject to satisfying ASX’s requirements, become listed on the ASX in addition to maintaining Alliance’s current listing on SGX Catalist."

 

Tawana intends to delist from ASX and JSE, while Alliance will keep its listing on SGX with possible name change "Alliance Group Holdings" and further list on the ASX. 

IMO I don`t think "Alliance Group Holdings" will list on the JSE, but there may be provision for a "cross listing" see wikipedia explanation below:

 

Cross listing of shares is when a firm lists its equity shares on one or more foreign stock exchange in addition to its domestic exchange. This concept is distinctly different than examples such as: American Depositary Receipt (ADR), European Depositary Receipt (EDR), global depository receipt (GDR) (also referred to as international depository receipt), and Global Registered Shares (GRS).

ADRs, GDRs and the like are a mechanism to repackage a security primarily listed on an Exchange (such as Frankfurt) to enable it to be purchased by an investor outside of that market (such as within the US on the NYSE). This is a distinct instrument, as not all the rights may come with the ADR (GDR, EDR, IDR, etc.), and the ADR is subject to the fluctuations of the underlying currency. The original issue (on Frankfurt) would be priced in EUR, while the ADR is priced in USD. In most cases, the ADR is convertible back into the original instrument (but needs to go through a process of conversion). The ADR (GDR,IDR,EDR, etc.) also receives a different ISIN number, recognizing that it is not the same fungible instrument as the underlying stock.


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#49 Dusty Mountain

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Posted 04 May 2018 - 01:47 PM

In my view the spinco is really about the merger of equals and to de-risk the assetts.

"  In addition,  Tawana  will  reserve  to  itself  certain  access  and  water  rights  from  the  Cowan  Project  which  will  support  operations at Bald Hill. "

IMO Cowan will play a supportive role to Bald Hill, rights on access and water and possibly lithium resource if required (being next door to Baldhill), based on my assumption the spinco will not be listed  and will possibly be re-purchased/share swap by "Merged Group" when required.
Spinco shareholders will receive additional shares in tawana or equivalent monetary value of assessed value at time of purchase agreement.

The rest of the spinco assets will also play supportive roles, (Tawana and Major shareholders retain large % of shareholding, New spinco board will have "Merged Group" best interests in mind) be it financial from disposal of "Mofe creek" (don`t see the Iron ore benefits at this time on weak iron ore price, lost over 50% value over the lasts 10 years).

Regarding "Yallari" it would make sense to conduct exploration before considering market sale, could also play supportive resource role for Bald hill albeit 75km`s from Baldhill, bit far and I would think certainly incur considerable transport costs. Makes sense to sell but would rather hold for years to come and see how  the market plays.


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#50 Bullhunter

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Posted 21 April 2018 - 10:47 AM

http://www.engineeri...ears-2018-04-20


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#51 Agent47

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Posted 17 April 2018 - 11:18 AM

Thanks Dusty.
Saxo in Aus also corrected the initial statement that it would be possible to transfer. Indeed it is not possible to transfer.

Some points I received back from Nathan Ryan at Tawana:

1) The main information currently available is in the announcement 05/4/18.
2) More information will be provided in the Scheme booklet (Scheme Booklet is expected to be despatched to Tawana shareholders in mid-August 2018).
3) Under the Scheme, any Tawana shareholder with a South African registered address will be offered 1.10 new Alliance Shares for every 1 Tawana Share held.
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#52 Dusty Mountain

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Posted 16 April 2018 - 10:54 AM

@Hemper9 - Saxo in Aus - https://www.home.saxo/en-au/

But, I am sure you can open a local Saxo account and also trade abroad on various markets. I have a very specific reason for going directly to Aussie Saxo.

 

Update: SAXO SA came back to me last week to say they are unable to transfer jse shares over to asx.

 

We wait on the merger booklet for more info on  provision for jse holders and we can then determine the way forward.


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#53 Krisjan

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Posted 10 April 2018 - 01:52 PM

Regarding uncertainty as to JSE listing on merger Nathan Ryan from TAW comms. stated that JSE Tawana shares will change into JSE Alliance shares. I assume it will be just a name change on the JSE and not a new listing. IMO To sell or transfer your shares to ASX will be costly indeed. 


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#54 sommerso

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Posted 10 April 2018 - 10:51 AM

Here's hoping they don't pull out! 

 

So I explained to my wife the whole thing of what is happening and the more I explained, the more it didn't seem such a bad deal at all. Anyone else still feeling jittery about this merger? Besides the uncertainty regarding JSE listing. 

 

Thanks to Dusty and his due diligence! 


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#55 Hemper9

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Posted 10 April 2018 - 10:23 AM

There's a bid for 155 000 shares at R3.80, now there is some volume creeping in... 


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#56 Bullhunter

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Posted 09 April 2018 - 04:42 PM

This is a good day to top up. 

 

What concerns me, is that merger is only happening in a few months and until then, we are shipping and resource upgrade and take off agreements. 

 

There is still time up until then. 

 

I'm not selling.

 

Unfortunately, insignificant volumes


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#57 sommerso

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Posted 09 April 2018 - 11:10 AM

This is a good day to top up. 

 

What concerns me, is that merger is only happening in a few months and until then, we are shipping and resource upgrade and take off agreements. 

 

There is still time up until then. 

 

I'm not selling.


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#58 sommerso

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Posted 06 April 2018 - 08:38 PM

I appreciate all your interest and proactiveness regarding this matter. My workload is such that I cannot always check up on all my admin. So all of this info helps a helluva lot. From that I gathered also is that the merger is a few months away still. As good as it is getting all the required info I think that perhaps JSE is a forgotten entity at the moment and that they didn't really think about us regarding the AMAL merger as well as the SpinCo shares. 

 

We are still due them. 

 

We could perhaps start buying up ALL the shares on the JSE that way we aren't this small shareholder anymore and we can make our voices heard! 


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#59 Hemper9

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Posted 05 April 2018 - 02:27 PM

I trade in the bracket where you do not need clearance from SARS, cannot recall what that amount was/is.. Problem with opening brokerage accounts that allow you to trade on the ASX is the huge opening deposit/initial investment amount.. ABSA and STB dropped trading on ASX due to the cost involved.. Or am I missing something?

Apologies, going off topic here but would my current TAW share value allow me to open one of those offshore accounts with a $10 000 minimum initial investment amount? I.e. if I transfer to say SAXO they would allow me to open the account based on TAW share value? I am a complete novice, just asking for advice, would probably better giving them a call directly I know  :rolleyes:


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#60 Hemper9

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Posted 05 April 2018 - 01:59 PM

Guys u can trade anywhere in the world provided you :

 

GET CLEARANCE FROM SARS

 

If not you cant....

I trade in the bracket where you do not need clearance from SARS, cannot recall what that amount was/is.. Problem with opening brokerage accounts that allow you to trade on the ASX is the huge opening deposit/initial investment amount.. ABSA and STB dropped trading on ASX due to the cost involved.. Or am I missing something?


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