ASX, handcuff director wrong doings, NOT SHAREHOLDERS- move TF on, page-9

Not exactly ' New ' NEWS - and for those who may just be looking in on HDY or other posters who are playing ' Catch-Up ' - here is a comprehensive post I submitted back on 10th Sept regarding the same point raised now by Hey.


" The first notice appears to be a superannuation arm of one of the vendors IMO - hence the reference to ' Heads of Agreement ' and Non-Cash classification.

Proof of this would be the extract from the announcement of 24th August 2018 -

' HDY entered into a separate Heads of Agreement (HOA) on 3rd & 18th July 2018 to acquire NVPL and VanMin respectively, subject to various conditions precedent being satisfied under each HOA. Pursuant to these Agreements, this has now materialised. '

The second notice is IMO is from the investing arm of the bank PACIFIC CONTINENTAL CORPORATION Which bought ( actually deemed a merger ) with Foundation Bankcorp, Inc and Foundation Bank out of Wahsington in June 2016 . It was then subsequently taken over by Columbia Banking System based in Tocoma Washington for a cash-and-stock deal valued at 644.1 million and which was completed around mid 2017.

All of this leads me to believe the Vendor side of this deal has potentially been structured as a ' reverse ' takeover of HDY in a sense and as it has also been registered at the .004 cents which is exactly what the acquisition terms were with the vendors of both the Nelly Vanadium and Vanadium Mining acquisition's.

I did mention in one of my earlier posts that we would soon be looking for and seeing some lodgement's of substantial notices and that they would indicate the interim direction of these recent deals. At the moment it appears they are indeed happy to hold and it will be very interesting to see what transpires from here. On the surface the split of these notices appear to be individual in their own right and as such fall below the legal takeover threshold under corporation law.

In any event folk's , it does seem to favor IMO a positive opening tomorrow should we a least clear the ASX hurdle in answering their immediate query's...... "