NTL - New Talisman Mine - New board & Directors

[nztx]

If its a $$$ fine, who gets the money?

Probably FMA & MBIE will scream loudly that they were the only ones who took a slight interest
in pushing the wheelbarrow of files up the Hill in the direction of the Court

Justice can be fairly blind in places on where losses have actually been borne

[ThaiJohn]

"More than 70 years after it was last worked, miners have finally reached the rich Birthday Reef beneath old Waiuta township, south of Reefton. Federation Mining's tunneling reached the gold-bearing quartz reef at the weekend, meaning staff can now touch the deposits."

Looking forward to the day NTL mirrors the above headline.

[Toddy]

Share price has been holding quite well given the lack of news on the right to mine.

[whatsup]

Well done Hamish great vote of confidence shown.

[Toddy]

Well done Hamish great vote of confidence shown.

How is it possible that a company can issue a bunch of convertible notes, then turn around and say 'by the way, if you convert these then you will have to make an offer for the entire
Company'.

Maybe just another example of an NZX oversight.

[Paint it Black]

Well done Hamish great vote of confidence shown.

Agree - a true entrepreneur. NZ needs you!

[haewai]

Well done Hamish great vote of confidence shown.

?
I'm unclear on how these things work, but I thought that was a loan made years ago, and this is partial repayment. It's not a new decision by him. Except maybe he decided to not convert the full amount owing into shares for some reasons.

[Paint it Black]

?
I'm unclear on how these things work, but I thought that was a loan made years ago, and this is partial repayment. It's not a new decision by him. Except maybe he decided to not convert the full amount owing into shares for some reasons.

Yes I believe you are correct - Hamish is converting money already provided (in exchange for the note) to NTL into shares at a discounted rate. As this lifts his holding up close to 20% the law prevents his exceeding this without Takeovers Code mechanisms for increased ownership being triggered. Presumably the date of this conversion was agreed in the note but whether he had to exercise or was just an option would possibly also be in the conditions. I'd like to think he had the option and had the confidence to convert, Maybe someone else can confirm?

[ThaiJohn]

Presumably the date of this conversion was agreed in the note but whether he had to exercise or was just an option would possibly also be in the conditions. I'd like to think he had the option and had the confidence to convert, maybe someone else can confirm?

[Daytr]

Presumably the date of this conversion was agreed in the note but whether he had to exercise or was just an option would possibly also be in the conditions. I'd like to think he had the option and had the confidence to convert, maybe someone else can confirm?

Why wouldn't you convert at a 15% discount?