@M.Bison I believe you are referring to what I have attached below
I did look into it and I think the particular person involved may try and cover himself by referring to a valuation that came out a few years ago by a chartered valuer. I believe the valuations were selling for about $5k a pop at the time, and the valuation at the time was well above what was offered in the situation you are referring to.
Here’s some information on what took place regarding the purchasing of AVZ shares for $0.01
Emails were sent to institutional and sophisticated investors but I also believe there were a number of unsolicited offers targeting investors
The first email offer stated to shareholders there was a takeover offer. The second email offer stated to shareholders there was a buyback.
Both offers involved Resource Capital Investments.
Then the emails read “Resource Capital Investments acting as Trustee for Resource Investments Trust are offering to buy your shares”
Shareholders were on to these quickly and shared this information
https://static1.squarespace.com/sta.../Resource+Capital+Investment+Announcement.pdf
connectonline.asic.gov.au
Search: 678207308
Company was set up on June 14
All the codes used in the emails below used the IRESS company identification system of AVZ.AU
Unsolicited offers claiming a takeover
| Member Direct alert: AVZ.AU Takeover | |
|
Dear xxxxxxxxxxxxxx
As you hold shares in AVZ Minerals Limited - Delisted (AVZ.AU), you are able to participate in the recently announced Takeover. This is an elective Corporate Action, meaning you don't need to do anything if you don't want to.
Key details:
- Record date: 28/06/2024
- Member Direct election cut-off: 01/07/2024
Record date
Your entitlement to participate will be based on your shareholding on the record date of 28/06/2024 and visible in your portfolio holdings from that date. Please consider this if you intend to buy or sell shares in AVZ.AU before then as it may affect your Takeover entitlement.
Member Direct election cut-off
Please submit your election through Member Direct if you wish to participate. The final date for submitting your decision is 01/07/2024. This is earlier than if you held these shares outside of Member Direct as we need time to process elections for all members and submit them to the registrar. |
Unsolicited offers claiming a buyback
From:elections.apac.st@ig.com.au<
elections.apac.st@ig.com.au>
Sent: Tuesday, July 2, 2024 2:36 PM
To: Undisclosed recipients:
Subject: (ST) - AVZ Minerals Limited Buyback offer
Dear Client,
AVZ Minerals Limited has announced an off market buy back tender of some or all of your fully paid ordinary shares in the company.
Under the buyback process, eligible holders will be able to tender their ordinary shares at a fixed price of AUD 0.01 per share.
The company advised that you may tender partially or for your entire holding. In the event the company receives applications in excess of the offer amount, shareholders will be scaled back pro rata on the number of shares.....
.............................................................................................................................................................................
Unsolicited offers to buy shares
More attempts to acquire AVZ shares
An investor from Hong Kong who bought shares via Zhongtai International Securities received below “AVZ Minerals has announced that shareholders may accept the conditional offer….” LET US BE CLEAR - AVZ recommends you do not sell
Resource Capital Investments PTY LTD made several offers to acquire shares in AVZ Minerals and once again used Alliance Advisors to advise shareholders.
Resource Capital Investments PTY LTD was registered two weeks before the “Takeover” and “Buyback” share offers were emailed to shareholders.
Prior to acquiring shares in AVZ Minerals, Resource Capital Investments Pty Ltd claimed it was
“OF THE OPINION THAT NO SIGNIFICANT VALUE CAN CURRENTLY BE PLACED ON AVZ SHARES”
THE OFFER WAS ALSO CLAIMED TO BE CURRENTLY THE ONLY (AND HIGHEST) FORMAL OFFER TO ALL AVZ INSTITUTIONAL SHAREHOLDERS
One purchase offer made by RSI, emailed from: elections.apac.st@ig.com.au was immediately followed a similar email from elections.apac.st@ig.com.au that falsely stated AVZ Minerals made the same offer.
At the same time, Zhongtai International Securities Limited (XINU Capital Ltd) also sent emails to shareholders and additionally sent out a statement alleging “AVZ MINERALS LIMITED has announced that shareholders may accept the conditional cash offer at the cash offer price AUD0.0100”.
This statement was also said to be false by AVZ Minerals
Anyway let’s enjoy our wins in Arbitration and the current reports that Trump may be supporting our cause for now and worry about seeking retribution on the various stooges when the time comes