Semmel
Regular
What would stop them from issuing in Europe too?
TLG Discussion 2022
- Thread starter zeeb0t
- Start date
What would stop them from issuing in Europe too?
Did you see the time the EU tried to stop an unmoderated X livestream between Trump and Elon, which is nothing to do with the EU?
Yeah, that kind of regulation means it’s not a given that a bonus issue is instantly legal to do for holders in the EU. Probably possible, but I imagine they’d need to pay a bunch of lawyers fees to make sure it’s compliant with EU law, and possibly even each country in the EU. So maybe if there’s a decent number of holders in Deutschland they might go through that process, but if there was only 1 holder in Spain then maybe they wouldn’t
Semmel
Regular
The same laws would apply across Europe, no single state would be selected. Imagine our dear leaders in Sweden would get nothing compared to Australian staff. Also I personally would be quite pissed.
teilenswert
Regular
You and many others would be justifiably pissed off. And might even sell shares in the short term out of sheer anger. So it is strategically clever to say that Talga is considering the option to include overseas investors into the loyalty options (so that the share price stays above A$0.38 and many holders will still participate in the capital increase).
By default, such publications often have a paragraph along the following lines:
“The Bonus Offer is not being extended and Bonus Options will not be issued to Shareholders with a registered address which is outside Australia or New Zealand.”
"It is not practicable for the Company to comply with the securities laws of overseas jurisdictions having regard to the number of overseas Shareholders, the number and value of Loyalty Options these Shareholders would be offered and the cost of complying with regulatory requirements in each relevant jurisdiction. Accordingly, the Loyalty Offer is not being extended and Loyalty Options will not be issued to Shareholders with a registered address which is outside Australia and New Zealand."
But there may be cases where overseas holders were able to benefit from such options, my experiences are quite limited. I do at least remember Lake Resources tried to make it possible: https://lakeresources.com.au/wp-con...tions-for-offshore-shareholders_31-aug-21.pdf
Apart of that, as a European share holder of a ASX company, you should be used to constant disadvantages like:
- higher spread between buy and sell side
- exclusion from capital raises
- trading outside ASX trading hours and thus without the possibility of reacting to announcements at short notice without a trading halt
Semmel
Regular
Ok, I can understand that it's not easy. But then I would expect a proper estimate of the number of shares held in Europe as well as an estimate of the cost to Talga to make it possible. Otherwise I might think that future dividends will also not be issued in Europe, at which point I will plan my exit strategy. At this point I don't have any because I am still convinced Talga will run big and I will be able to gain the benefit of dividends.
I hate to tell you but you’ll never be told the number of shares held in Europe or any other jurisdiction and a cost of making a loyalty bonus possible. Not productive of feasible in my view.
Dividends on the other hand are completely different and all holders regardless of where they reside receive them in some way shape or form (ie franked, unfranked). How this is represented by each foreign holder in their own jurisdictions yearly tax return will vary though.
Sit tight and don’t be bothered too much. I think we are all here for the real money maker which i suspect we all think will be multiple bags from the highest of highs we’ve seen.
2030 - 2035 if you can hang out for that long.
All the best
WheresTheMonkey
Regular
As stated by others this is an example from another ASX Company as to why overseas shareholders were not entitled to participate
It's common
The restrictions upon eligibility are due to a number of factors, including ..... the cost of complying with the applicable laws and regulations and the requirements of any regulatory authority in jurisdictions outside Australia.
It's not us........................it's you
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WheresTheMonkey
Regular
You will still get your dividends. It's just because when raising finance every jurisdiction has it's own set of rules
cosors
👀
Verkor is up.
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cosors
👀
what!?Once the earn-in period concludes, both parties must contribute to further expenditures proportionate to their ownership stakes or face dilution. SQM International Lithium division CEO, Mark Fones, stated that the deal with Talga aligns with SQM’s strategy to build a global and competitive lithium asset portfolio. "Expanding into new and promising jurisdictions, such as Sweden, has been a strategic goal for us, and partnering with Talga, who has demonstrated expertise in the region, further enhances this achievement," Fones noted.
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