chidliak: Bid for PGD

Bid for Peregrine Diamonds

*Information in this current blog is based on information obtained up to mid 2018 and should be considered legacy at this time and should no longer be relied upon.*

This page will be dedicated to keep track of events leading up to an eventual takeout and delisting of Peregrine Diamonds (Current owner of Chidliak)
Total trading volume to date --> 89,576,000 (~ 20.2%)
1,158,500 options exercised on August 10th.

Share Structure:
443,309,896 -- Outstanding shares.
25,707,000 -- Outstanding stock options.

Support Structure:
197,465,158 - Shares supporting current arrangement.
25,707,000 - Employee stock options supporting current arrangement.

Public Share Volume:
89,576,000 - Approximate shares trading hands since arrangement announced.

Shares not traded or not allocated for support:
156,283,000 -- Approximate shares still being held by the retail market since before arrangement.

July 19th, 2018

De Beers make a friendly take-over bid for all the shares of Peregrine Diamonds valued at CAD$0.24 per share. News release -- 2018-07-19

This is a friendly bid with a provision for superior (unsolicited) bids to occur and a matching period of 10 business days. The question is whether a superior bid ("White Knight") comes into the picture before the deal is approved. Keeping track of volume/price/trading may be the only metric to get any hints. A "White Knight" may be able to buy shares on the open market before making an superior bid.

Trades for this day: (total volume -- Approximately 37,484,000 -- ~8.5%)

July 20th, 2018

Trades for this day: (total volume -- Approximately 26,970,000 -- ~6.1%)

July 23rd, 2018

Trades for this day: (total volume -- Approximately 2.6 million --~0.6%)

July 24th, 2018

Trades for this day: (total volume -- Approximately 1.9 million --~0.45%)

July 25th, 2018

Trades for this day: (total volume -- Approximately 1.6 million --~0.4%)

July 26th, 2018

Trades for this day: (total volume -- Approximately 780K --~0.2%)

July 27th, 2018

Trades for this day: (total volume -- Approximately 445K --~0.1%)

Note -- Official arrangement document with De Beers posted on SEDAR.

July 30th, 2018

Trades for this day: (total volume -- Approximately 536K --~0.12%)

Note -- Court Order for arrangement has been approved.

July 31st, 2018

Trades for this day: (total volume -- Approximately 5 million -- ~1.1%)

August 1st, 2018

Trades for this day: (total volume -- Approximately 650K -- ~0.15%)

August 2nd, 2018

Trades for this day: (total volume -- Approximately 980K -- ~0.22%)

August 3rd, 2018

Trades for this day: (total volume -- Approximately 385K --~0.1%)

August 7th, 2018

Trades for this day: (total volume -- Approximately 3.87 million --~0.88%)

August 8th, 2018

Trades for this day: (total volume -- Approximately 1 million --~0.22%)

August 9th, 2018

Trades for this day: (total volume -- Approximately 715K --~0.16%)

August 10th, 2018

Trades for this day: (total volume -- Approximately 361K --~0.08%)

August 13th, 2018

Trades for this day: (total volume -- Approximately 842K --~0.19%)

August 14th, 2018

Trades for this day: (total volume -- Approximately 128K --~0.03%)

This day, there was also some disclosure of insider options being exercised as follows:
Greg Shenton - 183,500 stock options (CAD$0.20) exercised.
Eric Friedland - 875,000 stock options (CAD$0.20) exercised.
Jennifer Pell - 100,000 stock options (CAD$0.20) exercised.
Total -- 1,158,500 -- CAD$231,700 added to the treasury.

August 15th, 2018

Trades for this day: (total volume --~80K --~0.02%)

August 16th, 2018

Trades for this day: (total volume ---~65K --~0.015%)

August 17th, 2018

Trades for this day: (total volume --~121K --0.03%)

August 20th, 2018

Trades for this day: (total volume --~118K -- 0.03%)

August 21st, 2018

Trades for this day: (total volume --~180K --0.04%)

August 22nd, 2018

Trades for this day: (total volume --~255K --0.06%)

August 23rd, 2018

Trades for this day: (total volume --~50K -- 0.01%)

August 24th, 2018

Trades for this day: (total volume --~460K -- 0.1%)

August 27th, 2018

Trades for this day: (total volume --~420K -- 0.1%)

August 28th, 2018

Trades for this day: (total volume --~410K -- 0.1%)

August 29th, 2018

VIF (voting instructions) must be received by 10 am (Vancouver time) for the August 31st meeting.

Trades for this day: (total volume --~129K --0.03%)

August 30th, 2018

Trades for this day: (total volume --~107K --0.02%)

August 31st, 2018

Special meeting - at 10 am (Vancouver time)
Results -- 98.35% of shareholders voting, voted in favor of the arrangement.

Trades for this day: (total volume --~15K --0.003%)