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Without interest rates being cut to emergency low levels in late 2008/early 2009 where would your investment in this company have been? If interest rates had stayed at 6% from 2008-2018 then I'd have been surprised if the shares in this company would of ever recovered very much from the lows seen during the great financial crisis. I mean shares in most companies would not have recovered very strongly if interest rates had stayed at 6%. What does this say about the state of the economy in 2007 and the competence of economic management since. Emergency financial measures are still needed more than ten years after the credit crunch/financial crisis - does this suggest the financial mess in 2007 was the biggest every created in the whole of human history as there hasn't really been a recovery from it - just a dire attempt by politicians to justify to citizens why they should accept getting poorer, slashed benefits, and zero hours contracts.
Just a thought.
the shareholders have left, and the company lights have dimmed, its as if you have been forgotten......you were an interesting share journey for me since 2007. Price paid was £1.25 per share. Highest price reached has been £2.30, and lowest...…? You were long term for me, and I felt, finally making traction.
You did not grow to your true potential. Sold too cheap? I think so, the topsy-turvy price per barrel of oil did not help. DNO were hostile and rude.
I'm grateful for £1.60 per share but............farewell faroe.
FPM thank you
Hi
I have shares that I have held fo r awhile, offered 1.60
But why are there so many buys?
Confused
Sorry not a whizz at this
cheers
Deals going through @ 164 .... i should of waited , thought 1p over offer was good lol
Everyone should sell to DNO asap and wait for the next investment that Graham Stewart and his team embark on!!
GLA
In the RNS it says that as of 07:00 14 February FPM will be de-listed so effectively it becomes a Private entity
Game over I would think
Thanks for Your advice well appreciated.
Kind regards.
You need to sell. If you do not do so one of 2 things will happen. Either DNO will get more than 90% of shares and force you to sell at 160 or they will not manage that but will get to 75% and delist the company. At that point you have no easy way of selling the shares and DNO can do what they want with the company. A bad outcome
Please can anyone let Me know, if i do not fill in the final form of acceptance what will happen to my Shares? I have had them for a very long time and they cost Me more than the 160 offer, should i sit on them or take the offer?
any help would be gladly received.
Kind regards Tont
Too bad. Great management and company. Turned into a nice profit, but could have been better in the longer term. Will certainly follow-up on what management will be doing or where they will be heading.
Sold (reluctantly) at 160p for a 53% profit. Looking at the volume traded today, coming up for 50 million, it's clear that they're going to get the deal over the line. Mixed emotions: a profit is a profit but I feel as if I have been mugged. Daylight robbery considering this was over 170p not long ago.
This thread will probably have a use by date on it now as FPM won't exist in the next few weeks or months. Been nice knowing you all. Good luck.
What happens if you DON'T sell? Is it just a matter of waiting until you get notification that the takeover has succeeded? I'm on the verge of selling as it looks like DNO have got enough shares now. Very disappointed with the takeover price but seen this before with Emerald Energy. My averga ehere is about 104p and I have a fair amount so it's a good profit, but should have been at least twice as much profit had we got even close to a fair price.
DNO now has majority stake (52.44%) - this is game over despite anything that the board may wish to say about it
That’s it I think selling out at 160 and moving on
I was looking for a higher offer as I think this still undervalues FPM.
from my point of view happy with a good return as bought into FPM after Delek Takeover of Ithaca so no surprise to see a takeover. Looking to share some of the proceeds around SDX PPC AMER and RBD
Good luck to all FPM shareholders
It's (sadly) going ...
It's been fun and fruitful.
Now - RRE, SQZ ...
-- BB --
sold at 160p - another 120,000 FPM for DNO. Onwards an upwards with SQZ as my last LTH. GLA.
DNO has around 43.8% of the FPM ... BUT it's buying & buying so that figure is increasing daily... I sadly see that once it is over 50%, institutions will sell as the liquidity dries up ...
Even at this amount and a rejection by FPM, FPM will have to allow DNO on the Board.
160 pps is not great but if you bought at 75 - 90pps, it's very tempting.
-- BB --
They have. It's not showing here. I am sure there will be a statement rubbishing the offer later in the day. I'll be surprised if DNO win this at £1.60.
Surprised FPM have not issued an RNS this morning....
DNO to increase its offer to £1.60 Reuters 1H ago
Must be DNO buys. Hard to see anyone else muscling in here. Particularly as Norway production attracts 78% tax!!!
Good luck to DNO I suspect they will regret this decision.
Hi, can someone explain all the massive buys at the price DNO are offering, I don`t get the point or are they DNO buys ?
I doubt if the Faroe Board can or will recommend acceptance of a 160p bid.
Since DNO made the initial bid several fairly negative things have happened to Faroe: dry hole results obviously being disappointing, oil price weakness, the asset swap with Equinor works for Faroe but not for DNO as they don’t need to swap a great development project for near term production!!!! The worrying 30% reserve downgrade on the Oda field was the latest bad news. However Faroe are one of the very few exploration led investments that the public can own in the North Sea. Would be a shame to see it go but I suspect the institutions will take the cash. They usually do!
Just clocked all the massive sells after the bell. Forget previous post. Looks like game over all right.