Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

On the 22 June, <a href="https://www.smartkarma.com/entities/oz-minerals-ltd" target="_blank" data-smartkarma-citation="entities:1138:1" rel="noopener">OZ Minerals Ltd (OZL AU)</a> and <a href="https://www.smartkarma.com/entities/cassini-resources-ltd" target="_blank" data-smartkarma-citation="entities:14525:1" rel="noopener">Cassini Resources (CZI AU)</a> <a href="https://www.asx.com.au/asxpdf/20200622/pdf/44jtmkq5g9vyvw.pdf" target="_blank" rel="noopener">announced</a> OZL's intention to acquire CZI by way of a Scheme. There are a number of moving parts to this transaction:
<ul>
<li>CZI will undertake an interconditional-demerger of its Yarawindah Brook (Ni-Cu-PGE) and Mount Squires (Au, Ni-Cu) assets into a new company, Caspin Resources Limited, to be listed on the ASX. CZI will receive Caspin shares according to their pro-rata ownership in CZI.</li>
<li>CZI shareholders to receive A$0.16/share upfront via i) A$0.15/share in the form of one new OZL share for every 68.5 CZI shares held; and ii) A$0.01/share capital return from CZI's cash reserves.</li>
</ul>
This will see OZL take 100% control of the West Musgrave project, Australia's largest undeveloped nickel-copper project. OZL currently has a 70% interest in the project.
CZI's board, holding 4.3% of shares out, recommend the Offer. Major shareholders with an additional 13.1% also support the transaction.
This deal is expected to be put to the vote in late September, with a potential conclusion in early October.
As always, more below the fold.

On the 22 June, OZ Minerals Ltd (OZL AU) and Cassini Resources (CZI AU) announced OZL's intention to acquire CZI by way of a Scheme. There are a number of moving parts to this transaction:

CZI will undertake an interconditional-demerger of its Yarawindah Brook (Ni-Cu-PGE) and Mount Squires (Au, Ni-Cu) assets into a new company, Caspin Resources Limited, to be listed on the ASX. CZI will receive Caspin shares according to their pro-rata ownership in CZI.
CZI shareholders to receive A$0.16/share upfront via i) A$0.15/share in the form of one new OZL share for every 68.5 CZI shares held; and ii) A$0.01/share capital return from CZI's cash reserves.

This will see OZL take 100% control of the West Musgrave project, Australia's largest undeveloped nickel-copper project. OZL currently has a 70% interest in the project.
CZI's board, holding 4.3% of shares out, recommend the Offer. Major shareholders with an additional 13.1% also support the transaction.
This deal is expected to be put to the vote in late September, with a potential conclusion in early October.
As always, more below the fold. 

Cassini Resources: Cash/Scrip/Demerger Offer