Essential metals has now been suspended from trading.

I believe in a few weeks this will be delisted.

Takeover approved comfortably by the majority of shareholders

Next step is to see what happens to the ESS holding in the Strawman Portfolio.

Will it convert to DVP shares in the proper ratio, or will I just get cash equiv to 0.56 per ESS share?

Time to see if a bug pops up after November...

Heard some discussion about buying ESS to get to DVP.

Buying ESS shares around this price effectively means you are buying DVP at 3.12 as of close price today excluding brokerage (current share price * 6.18).

Seems good value and a discount from the current DVP share price and the rights issue.

But that comes with a caveat that the takeover succeeds

If the takeover does not succeed the holder is left with ownership in ESS and the sub-par management with it.

All things being equal, the market has discounted that risk in the ESS share price appropriately.

Food for thought in case anyone wants to jump in to ESS to get to DVP....

Worth noting that ESS is trading $0.03 above the Scheme of Arrangement price. Now i'm really Muddled.