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arms,

I raised the CA question with the Hotline the Friday before last. They did not know the answer, but got back to me last Friday.

 

According to them the bid date stays in place as the 16th, even if they reach 90% before then. Yes they automatically move to CA when they reach 90%, but that does not trump the 16th bid conditions, as long as you accept before the bid expires. The CA mop kicks in after the bid expires.

 

djt

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Out of interest has anyone got any acceptance money from Cemex yet? If so roughly how long did it take from the day you or your broker accepted the offer until you got the cash?

 

Thanks

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In reply to: snakecatcher on Tuesday 03/07/07 04:31pm

I rang CEMEX today on their hotline and was told that they received my acceptance on 3rd May, I was also told that a cheque would be mailed to me on the 6th July, not sure how that worked as I thought it was 21 days after acceptance or 21 days after the 8th June when they went unconditional, and the 21 days applied to the earliest of the two I thought? anyway it's the 6th of July for me so it's not far away now!

 

Cheers Moosey

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I'm sure one of the offer statements says you will get your money within one month of the date of your acceptance - if that is the case they are a month late paying you. I wonder if you can claim for lost interest which would be $200 or thereabouts?

 

EDIT: I just checked the announcements and the 6th bidders statement released on the 8th May states in section 5.2:

 

"If you validly accept the offer, you will be sent payment within one month after the later of:

 

- the date that your acceptance is received; and

- the date that the Offer becomes or is declared unconditional"

 

They declared it unconditional on the 7th June so the 6th July is within the one month (just)

 

 

 

 

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Thanks for the clarification snakecatcher, I just knew there would be something in the fine print! It always pans out in their favour, never mind at least I got the last divvy from RIN, these shares were old rope money, a spin off from CSR(a sort of freebee), which I initially bought some years back when I was giving up smoking, as at that time you could top up each month if you wanted, without brokerage, it was a good scheme and in the end it has paid off handsomely, and I still have the CSR shares, which I think may just suprise a few down the track!

 

Cheers Moosey

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My Q relates to the 2000 RIN offer and accept AUD$19.50.

 

Once you have been paid but before the bid expires, does anyone know if you can buy 2000 shares againand accept for a second time? and I guess still qulify for the 2000 share offer... 2 bites at the cherry?

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QUOTE (rose0402 @ Tuesday 03/07/07 10:03pm)

Mmmm. That's an interesting one. For my money, the short answer would be yes. If you have already been paid out you are no longer a Rinker shareholder. If you were to purchase more Rinker shares on-market to obtain the 2000 @ $19.50 offer, you would be no different than anyone else doing that today, tomorrow and until the offer closes. Even after the offer closes, and assuming Cemex gets to 90%, you might still be safe, provided that you can get them at the right price as Cemex has indicated it will honour the $19.50 for 2000 shares even upon compulsory acquisition.

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In reply to: moosey on Tuesday 03/07/07 08:35pm

hi moosey

 

i don't know about ALL in their favour....Cemex is being taken to town, worked over, reamed and generally being abused on currency by small shareholders (yay).

 

i am aware of a macquarie wholesale guy that had put thru 10,000 lots of 2000 shares.

 

the payment terms are reasonable but Cemex kept one sting in their tail there is no direct credit. they are sending cheques. the miserable so & so's. if you are holding CPU shares you should cheer like crazy. what would the fees be on all those cheques going out, paperwork to shareholders, returned cheques etc. mmmmm clipping tickets for a living.

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In reply to: jazzmoo on Tuesday 03/07/07 09:21pm

Might be some fineprint which only allows 2000 (in total)@$19.50 for any one name or entity. So if you buy some more in the same name the records might show that the 2000@$19.50 have already been bought, and the new lot would not qualify.

Obviously, get some professional advice before jumping in.

 

Cheers

J

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I've made a number of calls to the bidder line. According to them, the first 2000 @$19.50 is based on HIN. So, the same person can have a number of HIN's and process corresponding lots of 2000. I resurrected a couple of old accounts. Now if I could just get the brokers to process the damn transfers................
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