Ser Barristan Selmy 222 Posted June 24, 2014 Share Posted June 24, 2014 8.5 million would certainly buy out greenco but he has said he won't do that. probably a tax dodge knowing king That's not very nice . 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 24, 2014 Share Posted June 24, 2014 it's what rich people do. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,179 Posted June 24, 2014 Author Share Posted June 24, 2014 That's not very nice . It's not but it is one possible reason for the consideration. Possibly unlikely giving the recent nature of the SARS stuff but who knows. One decent explanation I've had put to me is that in light of the repatriation stuff I highlighted on the previous page, this is repayment for the other parties holdings in the companies Micromega had to buy (e.g. Nosa Global). 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted June 24, 2014 Share Posted June 24, 2014 It's not but it is one possible reason for the consideration. Possibly unlikely giving the recent nature of the SARS stuff but who knows. One decent explanation I've had put to me is that in light of the repatriation stuff I highlighted on the previous page, this is repayment for the other parties holdings in the companies Micromega had to buy (e.g. Nosa Global). Did King not own all of NOSA? MICROmega Holdings Ltd announced that MICROmega has negotiated the conclusion of an agreement dated October 11, 2013 (the acquisition agreement) in terms of which MICROmega will acquire 100% of the shares in NOSA Global Holdings Limited, a company incorporated in Hong Kong (Nosa Global Holdings), presently held as to 100% by Mr David Cunningham King (the Vendor). The Vendor is a related party to MICROmega as he is a director of MICROmega and is also a major shareholder in MICROmega via his family trust. The acquisition agreement, which was entered into by MICROmega and the Vendor on October 11, 2013, provides for the acquisition by MICROmega of 100% of the shares in NOSA Global Holdings from the Vendor (the acquisition) with effect from October 1, 2013 for an acquisition price of ZAR35 million (the consideration), to be settled in cash of ZAR17,273,569 through the elimination of a trade receivable owed by the Vendor to creditors (which arose in the ordinary course of business) and the balance of ZAR17,726,431 through the issue of 2,215,803 shares in MICROmega to the South African domiciled King Family Trust at an issue price of ZAR8.00 per share. Following the implementation of the transaction, MICROmega will hold a 100% equity interest in NOSA Global Holdings and its subsidiaries. http://in.reuters.com/finance/stocks/MMGJ.J/key-developments/article/2850531 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,179 Posted June 24, 2014 Author Share Posted June 24, 2014 Did King not own all of NOSA? http://in.reuters.com/finance/stocks/MMGJ.J/key-developments/article/2850531 Yes but Nosa was just one example unfortunately. There were other assets which may explain the consideration aspect but I'm sure you'll know better than me just how relevant all this is... 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted June 24, 2014 Share Posted June 24, 2014 Yes but Nosa was just one example unfortunately. There were other assets which may explain the consideration aspect but I'm sure you'll know better than me just how relevant all this is... As Socrates said, "I only know that I know nothing." 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,179 Posted June 24, 2014 Author Share Posted June 24, 2014 As Socrates said, "I only know that I know nothing." In that case who is the Oracle...? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted June 24, 2014 Share Posted June 24, 2014 In that case who is the Oracle...? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,179 Posted June 25, 2014 Author Share Posted June 25, 2014 I contacted MM's press office in regard to this and they're unable to offer further comment on behalf of King 'at this time'... 0 Quote Link to post Share on other sites More sharing options...
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