In today’s briefing:
- Azure Minerals (AZS AU): Scheme Vote on 8 April
- Dear COVID Darling
Azure Minerals (AZS AU): Scheme Vote on 8 April
- The Azure Minerals (AZS AU) IE considers Sociedad Quimica y Minera de Chile (SQM US)/Hancock’s scheme and takeover offer fair and reasonable as it is above its A$2.03-2.93 valuation range.
- The scheme is conditional on FIRB approval, which should be forthcoming as Azure’s key asset (Andover) will be majority-owned by Australian entities.
- The scheme vote will get up due to irrevocables and retail support. At the last close and for the 18 April payment, the gross/annualised spread was 3.1%/29.2%.
Dear COVID Darling
- Redbubble was a bubble. On the wings of pandemic mania, the stock price increased 13 times from March 2020 to January 2021.
- Reaching a 1.9B market cap. Today, the situation looks quite different.
- The stock is down 93% from its highs of 7 AUD and currently sits at 0.
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