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JML, JABIRU METALS LIMITED
raauul
post Posted: Feb 16 2011, 01:58 PM
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In Reply To: pengo's post @ Feb 16 2011, 11:46 AM

Every broker on Chess has T+3 settlement, not just commsec FYI.

You are correct assuming "IF" 28/3/11 becomes the last trading day, but that would be cutting it a bit fine in my opinion, for a number of reasons.

Mainly that date could be variable as I mentioned before, but more likely to be later than that, unless the offer is very popular.

Also the market MAY have caught on by then and the discount MAY not be as much.

Another suitor could pop up and offer a better deal than IGO, but noting they already have 20% or so promised, so unlikely to happen unless a substantial premium and IGO are happy to pass it up and sell their holding on.

All in my opinion of course, if you are new to this type of thing get some professional advice.

I have moved half of my IGO holding into JML for the discount and possibility of a sweetened offer however unlikey that might be, but the market can be strange sometimes.

 
pengo
post Posted: Feb 16 2011, 11:46 AM
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In Reply To: raauul's post @ Feb 15 2011, 09:45 PM

I'm with CommSec so thats what T+3? So does that mean if offer closes March 28th I need to buy 3 trading days before March 28th?

 
raauul
post Posted: Feb 15 2011, 09:45 PM
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In Reply To: jadco55's post @ Feb 15 2011, 07:35 PM

What Jadco said plus there is the possibility of the offer ending earlier and going compulsory after usually 90% acceptances.

Most TO offers like this drag on & get extended, but you would have to play it by ear and gauge the the acceptance rate.

 
jadco55
post Posted: Feb 15 2011, 07:35 PM
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In Reply To: pengo's post @ Feb 15 2011, 06:23 PM

You need to consider settlement time, best to talk to your broker.

 
pengo
post Posted: Feb 15 2011, 06:23 PM
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In Reply To: jadco55's post @ Feb 15 2011, 02:13 PM

So if I understand correctly, you have up until COB 28 March 2011 to buy JML for IGO to buy your JML off you. Where they will give you 1 IGO for every 8 JML share you own.

 
jadco55
post Posted: Feb 15 2011, 02:13 PM
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In Reply To: pengo's post @ Feb 15 2011, 01:22 PM


  1. The indicative timetable in relation to the Offer is set out below:
  2. Wednesday 23 February 2011 – Lodgement of Independence’s
  3. Target’s Statement with ASIC and ASX, and service
  4. Monday 28 February 2011 – Despatch of Bidder’s and Targe
�� Monday 28 February 2011 – Independence Offer opens
Closes Monday 28 March 2011

JML certainly a cheaper entry point for IGO if the takeover concludes as per current terms.




 

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pengo
post Posted: Feb 15 2011, 01:22 PM
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In Reply To: raauul's post @ Feb 10 2011, 12:17 PM

When does time run out to pickup jml shares to take advantage of the scrip offer (so you can get igo at a possible discount)? At the mo' if you bought right now @ 85c you would be getting IGO at a discount ($6.80 vs market price of $7.04).

 
raauul
post Posted: Feb 10 2011, 12:17 PM
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In Reply To: jeeves's post @ Feb 10 2011, 09:24 AM

Trading mid .80s at the moment. Reflecting the drop in IGO's price as it is a script only bid.

I have picked up some this morning @ .84 as a cheaper top up on IGO or short term trade wherever it heads.

Also think once the initial reaction settles down IGOs price should recover to around pre-bid levels.

Using GIR to AGO takeover example, AGO dropped the first day or two, but then rallied hard, bringing GIR with it and going much higher than pre bid. Although I could be comparing eggs with apples....

 
jeeves
post Posted: Feb 10 2011, 09:24 AM
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In Reply To: raauul's post @ Feb 10 2011, 07:54 AM

Long term holder so am happy with yesterdays announcement. Any idea when the shares will be allowed to trade to see market reaction.

jeeves

 
raauul
post Posted: Feb 10 2011, 07:54 AM
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In Reply To: jadco55's post @ Jan 17 2011, 09:23 AM

Takeover by IGO at: 1 IGO for 8 JML shares.

Values JML at around .96c

Someone was going to take this out sooner or later. Unfortunately for me I was stopped out in the last correction and hadn't got re set yet sad.gif

I do hold IGO though, so keep it in the family I guess. Good management either way.

 
 


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