1. Most Discussed
  2. Gainers & Losers
EMP 0.0¢

emp - takeover on?

  1. xerxes_ph

    9,080 posts.
    Hi Malfunction and EMP followers:

    Below is a copy of the post (compliments od DUB in the wee hours of the morning)

    DRD is a likely suitor for EMP since it already holds some 17% of Emperor's shares. As experts in deep underground mining they would see EMP's massive underground reserves as something they could profitably tap into.

    Here is a copy of DUB's post:


    DRD cashes up ahead of Australasian acquisition

    Michael Quinn


    Tuesday, September 09, 2003
    DURBAN Roodepoort Deep has cashed-up with a US$43.14 million raising and is in discussions regarding the acquisition of an undisclosed asset.

    The funds came from the Investec Group's exercising of a call option on 18 million DRD shares, with the option due to expire next month.

    Chairman and CEO Mark Wellesley-Wood was quoted as being "elated" by the swift exercise of the option, with Investec being granted the option to call a further 9 million shares.

    In terms of the asset being assessed, the only clue was that it's located in Australasia."


    Responding to another matter raised in a separate EMP thread about recent director selling of shares, research has shown that this is nothing to be concerned about in the light of this reply from the company:

    "We are advised by the Director concerned that this transaction was an off-market transfer to split/restructure the existing holding rather than a disposal.

    Please do not hesitate to contact me if I can be of further assistance.

    Regards

    Andrew J Cooke
    Company Secretary
    Emperor Mines Limited"

    EMP has $1.00+ written all over it IMO

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top