ZFX - Zinifex Limited

[nioka]

so nioka, you are now saying all your other posts about how we'd all be eating our words and how great AGM are, and we would all see this "in the fullness of time" yarda yarda, were all cra.p?? Knew as much.

Any thing I said before I still stand by BUT I admit defeat in being able to hold on till production. It is the ZFRers who kept saying the price was too high etc. All has been revealed in the fullness of time. I made a decision that MCR is a better nickel stock for me than ZFX and when I could see that all was lost I cashed AGM and bought MCR. I am allready way ahead as you would see if you check on MCR and I'll wait for ZFX or Extrata to fight over MCR.
(Never in my short time on these forums have I see posters as touchy as those on this thread)

 

[Egabeava]

Finally some good news as Oxiana and Zinifex decide to merge. I have been holding on to both these shares for years for that reason. The link to the news http://www.theaustralian.news.com.au/story/0,25197,23309277-36418,00.html

 

[ozrob]

At long last some good news, they are offering 3.1931 Oxiana shares $3.97 for each Zinifex share which on Fridays close price makes ZFX worth $12.66. I wonder how much above this price they will trade at ???

 

[Birdster]

At long last some good news, they are offering 3.1931 Oxiana shares $3.97 for each Zinifex share which on Fridays close price makes ZFX worth $12.66. I wonder how much above this price they will trade at ???

It is good news. But when does the merger actually happen? Market reaction to anns are unpredictable atm IMO. ie; QBE.

Guess today will tell

 

[Metamath]

(OXIANA AND ZINIFEX TO MERGE TO CREATE A MAJOR DIVERSIFIED MINING COMPANY - Pg 2/12 Para 6: 3 March 2008 )

Zinifex will seek a Court order to convene a Zinifex shareholders’ meeting in May / June 2008, to approve the Scheme. Subject to receiving other necessary Court and other approvals, the merger is expected to be implemented in June / July 2008.

 

[fenis]

Could someone please clarify (for the beginners):

If I own 500 Zinifex shares, does that mean I'll receive 3.1931 x 500 = 1565 Oxiana shares (worth ~$3.68 x 1565 = $5761) for free? Sounds too good to be true.

Or does it mean that Zinifex shares will simply be worth ~$12.66 as mentioned above. How is this calculated?

Many thanks

 

[Nicks]

Could someone please clarify (for the beginners):

If I own 500 Zinifex shares, does that mean I'll receive 3.1931 x 500 = 1565 Oxiana shares (worth ~$3.68 x 1565 = $5761) for free? Sounds too good to be true.

Or does it mean that Zinifex shares will simply be worth ~$12.66 as mentioned above. How is this calculated?

Many thanks

It means Zinfiex shares will be worth 3.1931 x the price of OXR shares at the record date of the planned merger.

So basically you can expect these shares to move in unison now.

(ie you dont get free shares, you get OXR shares in exchange for your ZFX shares)

 

[legs]

It means Zinfiex shares will be worth 3.1931 x the price of OXR shares at the record date of the planned merger.

So basically you can expect these shares to move in unison now.

(ie you dont get free shares, you get OXR shares in exchange for your ZFX shares)

It means you get 3.1931 oxiana shares for every Zinifex share you hold. You dont get cash or anything else...simply 3.1931 x ZFX shares = Y (name of new company) shares at Oxiana's last price before name change.

 

[gfresh]

How many shares will the new entity have??

If OXR has 1.546bn shares.. and ZFX holders receive: 487M x 3.193 = 1.55bn shares?

Does this mean there will be 3bn shares, or will the new entity come merge time be 2 x current OXR SP?

 

[bergers_n_fries]

forgive me for maybe asking a silly question but when does this all become official...(as in the merger)

my dilemma is that i bought the stocks around 16ish and obviously am looking to make up as much ground as possible before the official merger and i get given the ox stocks through the merger...

interesting times ahead...

cheers

 

[Thrive]

The next few weeks will be interesting.

What SP premium do you think the board of ZFX would want to recommend a takeover to shareholders 40,50 or 60% making it an expensive takeover for some.

If there was anyone else interested in ZFX this merger proposal has certainly opened the door for them effectively forcing ZFX board to put all offers exceeding the OXR offer to shareholders at much less than typical takeover premiums.

Just not sure if anyone else is interested - Xstrata seems a little distracted at the moment.

This is the best offer OXR could make (without cash) that wouldn't give ZFX shareholders majority holding in the new entity.

Dont get me wrong, OXR good projects and mines in high value metals and ZFX with a few dollars both with good management. I can certainly see some value in the new entity.

Any other offers likely?

 

[Gurgler]

forgive me for maybe asking a silly question but when does this all become official...(as in the merger)

my dilemma is that i bought the stocks around 16ish and obviously am looking to make up as much ground as possible before the official merger and i get given the ox stocks through the merger...

interesting times ahead...

cheers

July/August!

If you bought at $16, your best bet is to hope for OXR to rise to over $5 so your ZFXers value follows it on a 1:3.193 basis ( 5x3.193 = 15.965) - or do I have that wrong???

 

[ozambersand]

What happens if you hold instalment warrants in Zinifex?

I have some not due till November. I don't want to be forced to offload them earlier at a low price!!!

 

[bergers_n_fries]

so the question remains as to when this becomes official and my shares in zfx become oxr???

im just hoping for as much time as possible for everything to gain ground to make up my losses

 

[legs]

so the question remains as to when this becomes official and my shares in zfx become oxr???

im just hoping for as much time as possible for everything to gain ground to make up my losses

Your shares wont become OXR they will become a new company. New name, new board, everything. They'll have a new ASX code. You still keep your CEO.

 

[uhu]

Hello, aussie traders, I need your help.

I have OXR and ZFX shares also.
First, I am very disappointed. 14% (or less, yesterday ZFX share prices went up only 9%) is not a premium. From the July more then 20 AUD peak....(why was it? I don't understand)

Second, I have a question. Should I wait, or not? I can buy my ZFX shares at about 12.20...so, it's less what Oxiana primarly offered.

And, If I won't make the transaction, what will be happened? My ZFX shares will be transformad automatically for OXR shares after ZFX general meeting? Or not?

My broker says no reason to wait, it's better to sell ZFX now than wait. Is it right?

Please help me.

 

[Trembling Hand]

Second, I have a question. Should I wait, or not? I can buy my ZFX shares at about 12.20...so, it's less what Oxiana primarly offered.

And, If I won't make the transaction, what will be happened? My ZFX shares will be transformad automatically for OXR shares after ZFX general meeting? Or not?

My broker says no reason to wait, it's better to sell ZFX now than wait. Is it right?

Please help me.

Uhu no one can give you specific financial advice on this forum like you have asked for. They maybe able to answer general questions but you are asking Q's that only a Lic. Fin Advisor can answer, like your broker.

 

[uhu]

Uhu no one can give you specific financial advice on this forum like you have asked for. They maybe able to answer general questions but you are asking Q's that only a Lic. Fin Advisor can answer, like your broker.

Thank you.
Of course, I dont' wait precisius advices or others from you.

But, what will happen, if I don't do anything?

And, I tried to understand the method of the merger. So, the 12.68 AUD offer was valid at a moment....the price will be always changed, because OXR share prices also chaging...am I right?

So, f.e. if OXR share price will up tomorrow, ZFX share price will follow it. (?)


One more question: I don't know what "Q's" and Lic means...

 

[Trembling Hand]

One more question: I don't know what "Q's" and Lic means...

I knew I shouldn't have short handed them.
Q's = Questions
Lic. Fin Advisor = Licensed Financial Advisor

 

[Prospector]

And what will happen to those excellent ZFX dividends I wonder! The only reason I was hanging on to them really!