Diligent Boardbooks IPO

[gonzo56]

What now..? I've never been through this.

So I assume once it comes up to the close date (after we have voted) our shares will automatically be bought for $7.39 and our shares will disappear and the cash will appear in our account? We don't really have to do anything special, it will just all happen..?

[JohnnyTheHorse]

What now..? I've never been through this.

So I assume once it comes up to the close date (after we have voted) our shares will automatically be bought for $7.39 and our shares will disappear and the cash will appear in our account? We don't really have to do anything special, it will just all happen..?

The transaction is in USD, so the amount you receive may not be $7.39, unless they have fixed the exchange rate already. Don't think they've said, I suspect that's why the current market price is not quite that high - there is currency risk in holding.

[Bjauck]

The transaction is in USD, so the amount you receive may not be $7.39, unless they have fixed the exchange rate already. Don't think they've said, I suspect that's why the current market price is not quite that high - there is currency risk in holding.

Will those shareholders on the NZ register be paid in NZ dollars? Unless they have fixed the NZ dollar amount, if the offer is only in USD, I wonder why they have given a NZ converted amount when it will vary according to whatever is the current USD/NZD conversion rate until the USD payment is actually made.

[Cricketfan]

How long does a process like this normally take, before shareholders receive payment?

[iceman]

Been a great investment but very sad to see DIL leave the NZX, although inevitable. We have a NZ tech company which is a World leader in its field and doing so very profitably. Would have preferred to ride this one a few more years but not to be.

[Snow Leopard]

Interesting to note that this appears to be, technically, a MERGER (actually two) and needs a simple majority to pass.

Not your 90% for a proper takeover.

Best Wishes
Paper Tiger

[Banksie]

Oh.

I wasn't expecting this, and I am sad to see them go too.

Guess I will have to start researching another solid tech company.

Any suggestions?

[Fisherking]

For me there were 3 potential catalysts to this stock taking off:
1. Takeover/ merger
2. NASDAC listing
3. Teams product
In a way i'm surprised the takeover has come before the listing, still it's a reasonable premium particularly for those that bought in after the restatement issues.

[Dilbert]

How long does a process like this normally take, before shareholders receive payment?

Some months I'd expect, deal supposed to be done and dusted in 2nd quarter.

[Bilbo]

Interesting to note that this appears to be, technically, a MERGER (actually two) and needs a simple majority to pass.

Not your 90% for a proper takeover.

Best Wishes
Paper Tiger

Can someone please explain why the press release says the merger values DIL at $941M NZD yet both NZX and ANZ show the current market cap at $625M (with SP at $7.15) which would give a MC of $642M at the takeover price of $7.39. Are there a heap of unlisted options or convertible notes etc that are not factored into the MC?

My thoughts are that NZ shareholders will now miss out on the increase in value coming from the new teams product and NASDAQ listing and that the takeover is not necessarily in shareholders best interests.