Another 750k at 19c - a few more grains of sand washed off the stone.
Looks like seller(s) backing off.
Printable View
Further news for RBC holders.....
11 December 2017 – Today, Rubicon announced that it had entered into arrangements to sell its 44.88% ownership interest in the Tenon Clearwood Limited Partnership (TCLP), the vehicle that now owns the previous Tenon clearwood operations. The proposed transaction will be subject to shareholder approval, at a Meeting of Rubicon shareholders expected to be held in mid-January 2018.
The proposed Purchasers of Rubicon’s TCLP interest are –
- Dorset Management Corporation (Knott), as to 20.0%
- Libra Partners NZ LLC (Libra), as to 20.0%
- Existing TCLP Limited Partners as to 4.88%.
Under the governing TCLP Partnership Agreement, existing Limited Partners have pre-emptive rights should Partners wish to sell down their ownership interests. All existing Partners have formally agreed to waive their pre-emptive rights over the 40.0% (combined) that is to be sold to Knott and Libra, and will participate (or not) according to their pre-emptive rights over the 4.88% balance of Rubicon’s shareholding interest. Rubicon believes the 4.88% will be fully acquired by the existing TCLP Partners.
The negotiated price for the sale of the TCLP shareholding is US$14.2 million (the cost of Rubicon’s investment into TCLP, made earlier this year) plus Rubicon’s share of the reduction in TCLP’s net debt in the period from 28 April 2017 (the date of Rubicon’s investment into TCLP) through to 31 December 2017. As the net debt amount will not be known until early January 2018, the final Purchase Price can only be estimated at this stage, but it is expected to be circa $15.3 million (net of a $0.7 million TCLP dividend to be received by Rubicon in December 2017). Closing is set down to occur on 31 January 2018.
My RBC shareholding is in unfamiliar territory....the arrows colour is blue.
Xmas has arrived early.
Me thinks i celebrate too early.....Red arrow now the colour.
Time to return my xmas presents.
large parcel through this morning, around $1.3m worth at 19.5c
https://www.nzx.com/announcements/311785
Well, the 9.3m shares bought today certainly made a dent on the sand-stone.
At this rate, TAM should be out by Christmas - setting the scene for a share price of at least 30c in 2018 imo.
https://www.nzx.com/announcements/311892
4.52% to go, being chewed through quite nicely again yesterday with a few more chunky parcels through @ 19.5c
Do we know who is buying yet? Must be due a new substantial holder notice
Doubled my holding last few days at 19.5 Cents. Felt like the right time to top up. See little value on the NZ markets at the moment. Rubicon looks one of the few with some decent upside.