Shares has highlighted the clumsy arrangements.......crushing a large diamond and finding others that were more-valuable than originally thought....Oh deary.

However this pales into insignificance compared with the June Placing of 40m shares of 5p - what is NOT clear from the RNS is what price they achieved for these 5p shares - was it 5p ( and they are not saying), or was it 10p mentioned earlier......the difference is a huge amount and I think shareholders would like to know why they are not saying.
(please also come clean as to the costs, for this shabby funding. Er, by all accounts).
Kopane isn't looking much better that the European Diamonds it started out as - a pretty stupid name, considering most diamonds are found outside Europe...eh?
As always DYOR......all IMHO.
Kopane sounds like some form of glass - - - - where do they find their Advisors?

http://www.nytimes.com/reuters/2010/02/10/business/business-uk-kopane.html?_r=1

from another bb

'post 745 from the sir beeks thread 26.1.10 competitor

http://af.reuters.com/article/investingNews/idAFJOE60P09H20100126

Quote

"This values the deal at about 40 pence per share," a dealer said on Tuesday.

FinnCap said it will retain its 24 pence share valuation until the deal is binding.

End of quote

I believe 40p is calculated because the jv would pay 80% costs

So surely if there is an offer it has to be of higher value than the MOU ???'

no doubt things will be made clear...... in the mean time lets just watch this climb on rumour and speculation......which i don't mind at all

just took some time to scan other boards/sites and an interesting angle being the flavour of the week is......no relating news has been reported by the buyout company.....so who is it......and the possibility of a bidding war......more to follow no doubt

indeed i am very sure it will become clear reasonably soon - gl

not sure on the time frame of these types of thing.....are there guidelines or rules for a period before a formal offer has to be made......incase others are considering the same buyout option....wishful thinking of course

any reply appreciated

timelines? LOL LOL
well yes amazingly - see below & gl:-

Courtesy of Investor's Chronicle, regarding Takeovers:

Takeovers involving UK domicile companies are overseen by the Takeover Panel.

The first step is that a company enters an 'offer period' - that is, it discloses it has received an approach which may result in a bona fide bid. Being in an offer period restricts what a company may do, since certain 'frustrating actions' such as issuing lots of new shares make a takeover more difficult to enact.

Once the terms of a bid have been formally announced, the next step is the dispatch of the offer document. This event is what starts the 'bid clock' and normally happens within 28 days after the bid announcement.

Day 21 is usually the first closing date, while day 39 is the last day on which a target company may publish price-sensitive information, and day 46 is the last day on which a bidder may revise its terms.

If a rival bidder emerges the 'clock' is reset when the second bidder posts its offer document.

A takeover offer effectively succeeds when all its conditions are met, and this usually happens by day 60.

If the bidder acquires more than 75% of the shares it can delist the target. If it acquires more than 90%, it can forcibly acquire the remaining 10%

Many takeovers are now structured as schemes of arrangement, because they're quicker to complete.

Under these the target effectively cancels its share capital by agreement with its own shareholders, and issues new shares to the bidder.

thank you gibby......

Nearly four months nothing confirmed either way.

?

Five months anyone got a clue??

Firestone diamonds offering 0.4657 for 1 kopane share.
firestone diamonds down over 12%.Kopane unmoved

17p offer seems a tad low for such a class asset.

It's only 17p when Firestone is at 36.5p.

I know looks like the board aren't too clever when it comes to negotiating or negotiating for its other shareholders (i am sure some have done very very well)
Unless FDI exceeds 36.5p then KDD holders will be gutted.

Can't beleive this wont attract a counter bid though

i was banking on a counter bid - 17p is not a good price - somebody bid against fdi - PLEASE! 17p still a good profit for me but it is a real low offer imo especially with the bonanza stones etc - never mind

think 3 weeks left for another bidder to come in and offer a realistic price! we shall see

agree
nice cash offer would be good
seems to be a lot of conolidation in the sector AFD turned down an approach this week.

agreed - i thought debeers, gem or others may want kdd - hoping someone will be flushed out as at the moment in my view kdd is undervalued at fdi current bid - but hey ho

topped up today - as usual buy was listed as a sell - take no notice of the so called sells - over half of the so called sells were buys if my own buy is anything to go by, usual trick buy below the mid price it will show normally as a sell!! gla
not long till t/o from fdi - strongly hoping counter bid comes in as kdd real cheap imo @ 17p take out on offer from fdi - t/o due by 30/09/10 last rns - buy now 10.6/7 p ish sell 17p end next month! or 17p + if other bidders emerge

OFFEREE: Kopane Diamond Developments Plc

Offer period commenced: 14:43 10-Feb-2010

1p ordinary
ISIN: GB0002998978
NSI: 301,511,651

OFFEROR: Firestone Diamonds Plc

Offeror identified: 11:55 21-Jul-2010

20p ordinary
ISIN: GB0003915336
NSI: 127,891,637