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AZR, AZTEC RESOURCES LIMITED
sneezy
post Posted: Dec 24 2006, 12:09 PM
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Posts: 262


All set up for the perfect takeover battle with MGX share registery split between people who want the company or want the companies share prices to rise significantly to pay for their stake... remember the Russian came in at 30c for AZR.

Sad to see AZR fall, because I do think it was undervalued, but with the 80% threshold crossed I am happy to take rollover relief in accepting MGX shares.


Merry Christmas to all on ShareScene
Sneezy



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Aaachooo...
 
datum
post Posted: Dec 14 2006, 05:19 PM
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QUOTE (mercury @ Thursday 14/12/06 12:24pm)

there has been 6 heavy trading days in the past month that
adds up to over 120 million shares. With today accounting for 24 million.

As you might be aware the ASX take over rules prevent an individual owning more than
19.9% of a company . Anything above that threshold & you have to make a full t/o offer.

However there is an exemption , in the fact that if the company (in this case MGX) is taking over a another company (AZR) & thru no fault of your own you are issued more shares in MGX.
So the Russian's or chinese buyers could end up with a 25% or 30% stake in MGX & they do not have to offer a full T/O of MGX.

This is what i believe is happening in AZR. They are getting a larger stake in MGX thru AZR.

Also , you have to remember the russians paid 90 cents per share for their original 19.9%
stake in MGX , so therefore would be happy to pay a bit more for AZR scrip.

d.y.o.r ............Datum



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This is not a bottom draw stock. This is a stock you take to the grave with you.
 
mercury
post Posted: Dec 14 2006, 12:24 PM
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I am trying to understand why AZR shares are trading so high when MGX doesn't match?
Mercury

 
arms38
post Posted: Nov 30 2006, 08:24 AM
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Being a holder of both I felt the companies were better of as seperate identities, so had also thrown out the acceptance form. Have been advised that it is at least five days for the form to arrive and that if your holdings are broker sponsored to go through them and have them do the acceptance via phone.

Arms

 
trustyrusty
post Posted: Nov 30 2006, 07:48 AM
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Posts: 85


QUOTE (aad666 @ Thursday 30/11/06 06:53am)


My impression is that he would be prepared (negotiated even) to sit on the board.
Letter attached. However, circumstances may change. I imagine it does not present itself as his dream job...

Now, which rubbish bin did I hurl that acceptance form into...
Attached File(s)
Attached File  Burston_letter.pdf ( 37.36K ) Number of downloads: 465

 


 
aad666
post Posted: Nov 30 2006, 06:53 AM
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THe.j
Thanks for that, I am in your exact position. Mine hit the bin immediatley after receipt of it.

Another question I have is in relation to trustyrusty's post quoting the AZR revised position:

QUOTE
"It has also been agreed that in the event that Mount Gibson receives 90% or greater acceptances to its offer, Mr Ian Burston, the current Aztec Chairman, and Mr Peter Bilbe, Aztec’s managing director, will be invited to join the enlarged company’s board."


The question is WILL Ian Burston ACCEPT this invitation

It could be implied by reference to it being agreed. But I can't be sure. Perhaps just paranoi on my parta.

Any thoughts would be appreciated please.

 

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the.j
post Posted: Nov 30 2006, 12:30 AM
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FYI: I spoke to Peter today, and remarked with heavy heart that based upon the boards decision to accept the offer, I needed a copy of the acceptance form - as I had torn it up way back..

These are being mailed out right now... sad.gif

 
trustyrusty
post Posted: Nov 28 2006, 01:56 PM
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Not what I wanted, but now the deed is done the way to make the best of it is to get Burston on the MGX board. For this to happen the more AZR shareholders who accept the offer the better. To quote from the announcement:

"It has also been agreed that in the event that Mount Gibson receives 90% or greater acceptances to its offer, Mr Ian Burston, the current Aztec Chairman, and Mr Peter Bilbe, Aztec’s managing director, will be invited to join the enlarged company’s board."

I'll be accepting

 
datum
post Posted: Nov 28 2006, 12:33 PM
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In reply to: mme on Tuesday 28/11/06 08:55am

AZR accepts taker-over. Have a look at the MGX thread for details
..



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This is not a bottom draw stock. This is a stock you take to the grave with you.
 
mme
post Posted: Nov 28 2006, 08:55 AM
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AZR is in a trading halt with a release due today!! biggrin.gif

 
 


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