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

Saracen – Trade the Northern Star Deal and Then Stay Long Northern Star

Saracen Mineral Holdings – Valuation Update for This Gold Play

Saracen Mineral Holdings – Doubling Production Into a Surging Gold Price Is Not a Bad Combination

Quiddity Advisors

Event-Driven

<a href="https://www.smartkarma.com/entities/northern-star-resources-ltd" target="_blank" data-smartkarma-citation="entities:4243:1" rel="noopener">Northern Star Resources (NST AU)</a> and <a href="https://www.smartkarma.com/entities/saracen-mineral-holdings-limited" target="_blank" data-smartkarma-citation="entities:2415:1" rel="noopener">Saracen Mineral Holdings (SAR AU)</a> have <a href="https://www.asx.com.au/asxpdf/20201006/pdf/44ncx7hy38vkm3.pdf" target="_blank" rel="noopener">agree</a>d to a merger-of-equals via a Scheme of Arrangement under which NST will acquire 100% of SAR.
SAR shareholders will receive 0.3763 new NST shares for each SAR share. SAR will also pay a fully franked dividend of A$0.038/share, conditional on the Scheme becoming effective.
Subsequent to a successful Scheme, NST shareholders will hold 64% of the combined entity (with roughly a A$16bn market cap), and SAR shareholders 36%. 
Pre-tax synergies are estimated to be worth A$1.5bn-A$2bn over the next 10 years. 
Standard Scheme conditions apply: SAR shareholders approving the Scheme (75%); independent expert concluding the Scheme is in the best interest of SAR shareholders; and no MACs, for either NST and SAR.
The tentative implementation date is February 2021.
As always, more below the fold.

Northern Star Resources (NST AU) and Saracen Mineral Holdings (SAR AU) have agreed to a merger-of-equals via a Scheme of Arrangement under which NST will acquire 100% of SAR.
SAR shareholders will receive 0.3763 new NST shares for each SAR share. SAR will also pay a fully franked dividend of A$0.038/share, conditional on the Scheme becoming effective.
Subsequent to a successful Scheme, NST shareholders will hold 64% of the combined entity (with roughly a A$16bn market cap), and SAR shareholders 36%. 
Pre-tax synergies are estimated to be worth A$1.5bn-A$2bn over the next 10 years. 
Standard Scheme conditions apply: SAR shareholders approving the Scheme (75%); independent expert concluding the Scheme is in the best interest of SAR shareholders; and no MACs, for either NST and SAR.
The tentative implementation date is February 2021.
As always, more below the fold. 

Saracen Mineral Holdings

Northern Star/Saracen: Merger Of Equals