SMM take over by PDN - Aussie Stock Forums

Results 1 to 4 of 4
  1. #1

    Default SMM take over by PDN

    Hi guys,

    wondering if someone could help me understand what my position is a bit better.
    I understand that Summit resources has agreed with PDN for the take over.
    I have purchased some Summit shares since the agreement (basically as I forgot to remove it from my outstanding list)
    I am wondering if I am :
    a) allowed to sell these shares to PDN at their new offer price
    b) still hold on to them, and if I do, what happens to them after April 27th when PDN has closed their offer period

    and what normally happens to people who still hold shares of a company which has been taken over but have not sold it to the new company?

    Please help

  2. #2
    Not a scaredy cat anymore Prospector's Avatar
    Join Date
    Jan 2006

    Default Re: SMM take over by PDN

    Normally any left over shares are converted over when a certain percentage of shares are sold to the new entity. I am thinking there would be something in the prospectus about what will happen, which would also be available in the ASX notices section.

    Do you still have the notice sent to you? If not, send an email from Paladdin's website located here:


    They replied within 24 hours to one of my queries last week.

  3. #3

    Default Re: SMM take over by PDN

    cool. thanks for that. am waiting on reply from them.

  4. #4

    Default Re: SMM take over by PDN

    Hi, did you get a reply from PDN about what happens if you do not accept the transaction?
    I just set my transfer acceptance form today simply bcz i dont what else to do

    I also noticed the volume SMM holders has jumped significantly today.. just to confuse me even more.

Similar Threads

  1. PDN - Paladin Energy
    By tech/a in forum Stocks I-P
    Replies: 1513
    Last Post: 27th-October-2015, 01:53 PM
  2. AGS - Alliance Resources
    By pussycat2005 in forum Stocks 0-H
    Replies: 883
    Last Post: 11th-December-2012, 06:08 PM
  3. EME - Energy Metals
    By Market Cap in forum Stocks 0-H
    Replies: 57
    Last Post: 16th-September-2009, 10:59 AM
  4. SMM - Summit Resources
    By GreatPig in forum Stocks Q-Z
    Replies: 512
    Last Post: 16th-November-2007, 09:48 AM
  5. EXT compared to PDN
    By amohonour in forum ASX Stock Chat
    Replies: 14
    Last Post: 11th-April-2007, 10:19 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Aussie Stock Forums