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RIN - Rinker Group

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Given the information on the Rinker website and the article in the Weekend Australian by Matthew Stevens. I would like to know why he suggested that small parcels of RIN bought by 24 June can sell out at A$19.50? :banghead:
 
Wondering if anyone is planning on holding on after the bid closes.

My feeling is that Cemex aren't going to get to the 90% level for compulsory aquisition, even though I'm sure they will extend the offer a few more times yet. So maybe they will come in with a mop up bid at the end of the year or whenever the law allows.

My wifr has a holding that she has accepted the offer for, but I have a holding in super that was bought in August and which I don't want to sell until I've held for 12 months. Guess I'll sit it out and see what happens.

Ferret
 
noirua said:
I'm afraid, as I posted before, that if you buy 2,000 shares in Rinker Group you will NOT get A$19.50 as share. Why? The time is up on that one.

See last paragraph on page 1: http://www.rinker.com/downloads/news/Cemex announcement FINAL2.pdf
Click to expand...

Noirua: Yes that was initial agreement but changed sometimes around 27 April as per Rinker's First Supp Target's Statement.

Needless to say that all situation is fairly confusing as Cemex is not all that keen to pay more than necessary so won't stress the 2000 shares thing out too much.

Look at my Cemex’s Rinker takeover: Easy pickings or a trap? article if interested but rely on your OWN findings better :)
 
Cemex have moved on to hold 59.93% of Rinker shares this morning. It looks as if they will finish the week close to 80%. The long game played by Cemex is nearly all over.
 
Moving on once more, at a slightly slower pace, as Cemex manage a few more points in raising their holding in Rinker Group to 62.05%.
 
I see Cemex are now up to 75% of RIN... My RIN shares have disappeared from my portfolio screen so I presume the money will be in my account soon.. Any idea when the payments will be made ??
 
...and still Cemex plough on. It's not far short of a year since the first bid was made. Up to 85.53% of Rinker Group as the long grind continues - YYYYYYaaaaaaaaaaaaaawwwwwwwwwwwwwwwwwwnnnnnnnnnnnnnnnnnnnn
 
Still the final throws of Rinker Group go on, and on, and on, and on...

Close to the 90% level, in the last announcement, at 86.49%.
 
Moving at a snails pace now as Cemex struggle to get over the 90% line. At times it seems as if that winning post is moving further away. Holding is now 87.84% in Rinker.
 
...and still the race continues, well, at least until 16th July, as Cemex close in on the 90% mark at 89.76% of Rinker Group.
 
A form came from Computershare saying the off-market transfer took place, so I assume the money is now in the bank! :rolleyes:

Word just got posted that they are above 90% and the compulsory acquisition has begun and it seems it is happening at the same rate the latest offer was, which is good news for all those trading on the market today at $18.60! (As long as your parcel is small enough).

They give you a month after getting the notice to act on it. If you don't reply, the transaction will occur at US$15.65 per share given to you in US dollars.
 
Dont assume that just because you have the Chess statement that the money is in your bank.. I've had the chess statement for a week or so but nothing had showed up in my account. I rang the lady at Cemex who told me that it was all set out in the scheme documentation (I think i've had three lots, which I have binned after sending in my acceptance).. seems like you get paid after a month of taking up the offer.. This made it a bit difficult when doing the end of year for my SMSF.. ie. nothing about Rinker on my June 30th broker statement and nothing in the bank :mad:

The best bit is since the payment will be made in July, no CGT will apply :)
 
i had a chess statement as well, i think i got it at least a couple of weeks ago. and rinker has dissapeared from my portfolio awhile ago. i thought we might get the payment after the 16th of july, when the takeover finishes. i cant remember the exact date that i accepted the offer.

so it seems that no one has received payment as yet...:cautious:
 
The A$19.50 a share is in my investments account and I'm told that overseas shareholders were sent cheques last Friday ( designated in US Dollars or Aussie Dollars depending on what they indicated on their form of acceptance), dated 6th July 2007 ( Where they reside in domains outside Australia, New Zealand and United States). Or transfers were made to nominees in Australia, New Zealand and United States, on 6th July 2007.
 
Rinker Group leaves the ASX next Wednesday, 18th July under rule 17.4. As Cemex mop up the final holdings and announce a 92.85% acceptance of their offer.
So leaves a relatively medium sized company, at the time it was split from CSR Limited, and Rinker Group leave having attained ASX 20 status.
 

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