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Nice rise, mm's may have had a sniff as possibly the docs will be with nomad by now..
Something is up. No one buys that much if they are not stake building. Can see this rise quickly.
Yes fat finger
09-Feb-24 14:30:22 4.08 325,345 Buy* 3.90 4.00 13.27k O
09-Feb-24 14:30:22 4.08 -425,345 Unknown* 3.90 4.00 -17.35k O
09-Feb-24 14:30:22 4.08 425,345 Buy* 3.90 4.00 17.35k
Fat fingers, the 3 and 4 are not even next to each other of the numerical pad!
Is one trade a flurry ?
News monday??
Flurry of buys..
No idea, i'm just a PI who can tell that a firm declaring assets of 78 million in 2022 is surely worth more than 22 million in 2024!
Legache
What would you value egypt asset at, considering the dollar issue?
That is a bit specific (can anything be a 'bit'specific?)Legache.Why not 22 or 23 ?
That is about 12p per share give or take. I haven't got the numbers to hand, but I would hazard a guess the asset value far exceeds that. I mean, we're looking at 10 million just for half of the Egypt assets. I've no experience in M&A so I should probably keep my mouth shut, but that seems cheap.
They offer around £22.5m they can probably get the lot.
A bid yes but not due diligence,that would be commercially sensitive for the potential bidder.
They would have to announce such, if true...
The Heads of Terms suggests that the parties were in rough agreement.The delay since then re South Disouq suggests that there is some discussion going on .But management say that nothing material has changed.My takeover theory suggests that the bidder is doing due diligence on Morocco which does of course take time.
No Legache,any offer has to be put to shareholders or if they think it is not viable they have to issue a statement to that effect.It cannot be hidden.And of course a hostile offer can be made without management consent
Ned - of course but only if management decide to present the option to shareholders. They would have to be willing to play ball...
Barhut,do you ever laugh ?
Considering the circumstances, the managed to get decent price for West Gharib, $6.8m.
South Disouq with infrastructure is worth more. There will be some cash and alot of receivables too, so what price will South Disouq go for?
There are a few companies in disouq area, the one i mentioned is a large player, there is also a large russian state owned company too.
Yesterday the mm's had no interest in trades and they resorted to manipulate sp by doing UT of 10 shares, yes 10 bloody shares to reduce sp after hours.
I think at present it best to hold.
Not don’t but do. Oops
Littlened you don’t make me laugh. You sure your not a politician if not a calling is their
Legache,it is shareholders who decide not management who have no shares !
Nah, new management have no incentive to sell everything, they want their options at 50p!
Also, the delay is surely down to stuff going on in Egypt. If their civil service is like ours they're all working from home watching daytime tv.
One of my theories about the delay in selling Egypt is that the buyer wants Morocco too and a full takeover is in the offing
I wonder if its this company that is interested in the assets.
https://wintershalldea.com/en/where-we-are/egypt
Any cash in Egypt will be part of the sale deal and therefore recieved in dollars