HPC Follower
24 Apr 2018
Re: GM Sorry NWF I meant...
HPC Follower
24 Apr 2018
Re: GM Tomorrow the merger will be approved so each STEL share will shortly convert to NWT shares worth 10+p, so why is the STEL price dropping?
HPC Follower
19 Apr 2018
Re: GM Yes, I've seen the positive RNS too now... but since the NWF shares are currently worth A$ 0.24 and STEL will get 0.7622 NWF shares per STEL share, that means each STEL share should now be worth:1 x 0.7622 x A$0.24 divided by A$ 1.83 = 10p so why are STEL shares still stuck at the 5.4p with no upward movement at all with the news; especially since this also means the mining project will now definitely go ahead for the benefit of the merged company (NWF by name).The share price should at least be 9p now, else an easy 90% gain for any buyers ahead of 27th April.
Ewan Hoosami
19 Apr 2018
Re: GM RNS just out - all good, there's no stopping it now.
HPC Follower
19 Apr 2018
GM Anyone attend today... what was the result of the votes?
HPC Follower
13 Apr 2018
Re: Shortfall numbers I'm glad to hear that it's only 75% of the votes cast - agree this should be easy to achieve.Finally got Barclays to accept my instruction to vote in favour...Still can't understand why the STEL price is so low at present, weird to see the SP dropping today with the promise of at least 12p a share worth almost committed.
Ewan Hoosami
13 Apr 2018
Re: Shortfall numbers Voting is a formality surely? It's 75% of votes cast, not 75% of total shares in issue. Who would be mad enough to vote against? From the RNS is 12/3/18:The Scheme will be put to Stellar Shareholders at the Court Meeting and at the General Meeting. In order to become Effective, the Scheme must be approved by a majority in number of the Stellar Shareholders voting at the Court Meeting, either in person or by proxy, representing at least 75 per cent. in value of the Stellar Shares voted. In addition, a special resolution implementing certain matters in connection with the Scheme must be passed by Stellar Shareholders representing at least 75 per cent. of votes cast at the General Meeting.
HPC Follower
12 Apr 2018
Re: Shortfall numbers The biggest reason why we aren't near 10p yet is that the merger still needs >75% of STEL shares voted in favour, which won't be confirmed until after the morning of 19th April (noting >55% have been committed in writing at present), the court hearing to sanction the scheme being more of a formality on 25th April; with 26th April being the last trading day for STEL shares.Personally, I feel this is a good deal for both STEL and NWF shareholders, both then able to share in the value of diamonds which might otherwise be left in the ground.
Ewan Hoosami
11 Apr 2018
Re: Shortfall numbers Us PIs won't be able to sell our NWF shares until 4th May at least and we just don't know where the sp will have settled by then. With the underwriters trying to re-home 89m shares and then another 95m being created to pay for our STEL holdings the sp seems likely to come under pressure in the short term which I guess is why we're not at 10p yet, which is the value of STEL shares while NWF is at 24¢.
HPC Follower
11 Apr 2018
Shortfall numbers & trading Bear in mind that the NWF shares delivered through the Rights Issue, with more than half to the under-writers, will not be released until AFTER the final voting and approval of the NWF merger with STEL through the courts on 25th April... 26th April being the last day of STEL trading if everything goes through as expected now.Interactive Traders will allow their nominee accounts to hold NWF shares, but Barclays still say they won't...At 6p, with likely value above 12p post 25th April, STEL shares remain a STRONG BUY.Karl Smithson is managing the merger process well in my opinion, having spoken with him briefly this morning.I would encourage PIs to vote in favour a.s.a.p. as the future looks bright with NWF and very bad without this merger.
bhptuner
11 Apr 2018
Re: Shortfall numbers i plan to hold mine anyways till they start works ,the amount of money from sales they got just from the trial was encouraging enough for me.
Ewan Hoosami
10 Apr 2018
Re: Shortfall numbers Sure the underwriters will take all the unwanted shares, but they'll be looking to offload them above the 15¢ they paid. Better to do that quietly to institutions than by flooding the market.
bhptuner
10 Apr 2018
Re: Shortfall numbers Don't the underwriters have to provide the rest of the money?Or buy the remaining shares to make it u?
Ewan Hoosami
10 Apr 2018
Shortfall numbers 44% of shares not taken up - let's hope the underwriters know their stuff and have some institutions lined up.[link]
HPC Follower
05 Apr 2018
Scheme Circular Anybody actually seen this Scheme Circular yet, if so where?Any sign of the Offer hitting a broker so we can vote on this?
