In other news, we ought to see some bullish behavior on the JSE with Zuma's announcement last night that Pravin Gordhan is reassuming his post as South Africa's finance minister. The Rand has already strengthened by 6% according to MoneyWeb.
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The LONMIN share price thread
- Thread starter snoopdoggydog
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- lonmin shares
pratlou
Senior Member
Heard on some news channel that 79% was taken up.
Drifter
Honorary Master
Ye should be an interesting week with lots of announcements from various places regarding various issues relating to various matters
I have to agree with your clear and concise statement.
Highly doubt that.
Most, if not all foreign investors, as well as most local investors, will tread lightly on our markets for the foreseeable future. There are a number of issues that could still affect and potential bullish behavior. Things such as whether the SAA deal has been approved over the weekend. Things such as Gordhan willing to stand against Zuma, considering the fact that he was the one overseeing the Nkandla build and more.
it was actually only 71%
http://www.iol.co.za/business/companies/investors-not-keen-on-lonmin-offer-1.1958971
it was actually only 71%
http://www.iol.co.za/business/companies/investors-not-keen-on-lonmin-offer-1.1958971
shooter69
Expert Member
PIC has upped its stake in Lonmin to 25% making the SA government the biggest Lonmin shareholder.
bassplayer
Senior Member
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I heard rumours that Impala is looking to buy Lonmin.
What impact will this have if it is true?
What impact will this have if it is true?
What impact does it have if you buy a friends car and just have to take over the payments because he cant afford it?
Can you afford the payments with your current income?
Do you need to have to sell your car to pay it?
Is the car in good running order?
Go look at impala's books and see if they have been making a profit and then if they chose to invest that profit in buying Lonmin instead of paying a dividend. Then check if you would do that if it was your business. Also check what assets Lonmin has.
Everyone here will tell you a different answer - why not use the tools available to make your own conclusion - then you can only be happy/mad at yourself.
shooter69
Expert Member
I might be wrong but I think he was referring to what happens our shares in Lonmin if Impala buys them?
Well in that case - if they take over the company and Lonmin trades as Impala then they could set a certain price for all outstanding shares and buy them at that price.
For example set the purchase price at 30c an issue.
They could also go into a stock split. Where every x amount of Lonmin would be converted into y of Impala.
bassplayer
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Thank you for clearing that up.
Yeah but that is if they decide to purchase Lonmin - they may just buy a lot of shares in the company - like what Std bank now has to do.
Then there wont be a set purchase price or stock split. They will be strapped in for the ride.
If there is a set purchase price one may be able to profit through arbitrage but there is a lot of water that needs to go under the bridge for that to happen.
shooter69
Expert Member
thanx
Drifter
Honorary Master
Ouch
Hamster
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Yeah, but spent R1,500 total so no biggy. Pretty cool that I could buy and exercise rights though without officially qualifying for it.
Yep, luckily that is not real money.
You probably have around 5172 shares now.
When the consolidation takes place, you will have 51 shares. The rights offer was at 21c, so after the consolidation, you shares will only be worth R1071.
Hopefully you can sell some or all of it off before the share price falls too much after the consolidation.