George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
it may be boilerplate but...…"In providing its advice to the Amerisur Directors, BMO has taken into account the commercial assessments of the Amerisur Directors."....well that raises a genuine host of unpleasant questions doesn't it about Clarke Wardle and Harrison
I must interrupt this meeting before it even starts to say how delighted I am to have been able to use my Senior Railcard and save £6, and then vote at the meeting to lose £’oooooo’s!
What a great day I will have.
Having had intimate involvement in M&A sits, really gonna-smacking that the guilty men have provided absolutely no strategic rationale for justifying the decision to effectively give up the company’s independence!!!! I can only assume that there isn’t one and that as we know they have effectively abandoned ship, trashed the investment case and run away. God knows why they need the IR chap; utterly useless appointment
GreggsStottie - no it doesn't infer less likelihood of a counter bid.
Entities planning a counter-bid may well have been waiting for the BoD to put their cards on the table i.e. present a rationale for the offer acceptance.
Unfortunately and presumably on the basis that knowledge is power or more likely complete disrespect to shareholders they have provided NIL justification except that it is a higher offer than the SP previously. If you think about it that is poor justification indeed.
Anyway, back to your question, who knows! But it is not all done and dusted yet and now onwards for the next couple of weeks is when moves will be made or not as the case may be
So, does this mean that in all likelihood no other company has come forward with a counter offer?
Would they issue the scheme if bids were likely? Anyone got experience of companies who post the scheme and then get counter offers?
No information about WHY they believe the offer is appropriate or the strategic review, remit or recommendations - truly disgusting IMO that they really have not justified the action.
*some *haven't
Really should check what I post!
It's a good point about the fundraise. I find it strange that kind of the IIs have put out a release indicating their position. Would be very easy to arrange an article with a journo indicating that the current offer is too low.
I do wonder how many other IIs were contacted ahead of accepting the bid
wtf is the point of running an E&P group when there is no money spent on any "E".
I'd be pretty seething had I taken part in the open offer @ 25p , only for the BOD to sell that cash raised for 19.21.
You really couldn't make that up!
Good point. that's why I said before that I think M&P might bid. their offer was rejected and only 19 p was accepted. i think they were waiting on the sidelines to see whatsbthe result. Surely when they bid 17p that was the starting point of negotiations. It is of course possible that their upper limit was around 19p but maybe not. the fact that they can easily get all these asstes and production for only say 21p which could still be mixture of shates and cash is an amazing opportunity for them. when i say 'them' I mean Indonesian owners who are desperate to cover Indonesia's oil deficit
given the involvement of this BODs just about anything! and in the event the deal didn't go through the SP will be volatile.
Noone has ever analyzed how come that M & P came out of the blue with their 17.5p offer which within one day set off the Strategic Review . It is quite possible that this M+P offer was set up/encouraged by GC/JW to give them an
immediate sale of Amer - otherwise what was the strategy of MP knowing that their offer was likely to be turned down ?
For those institutions and private investors who 'invested' as opposed to 'traded into' Amerisur for a long term growth story, the underlying feeling is one of betrayal by a management team absolutely focused on their own enrichment and survival. What is astounding is that pre- M&P, the management mantra was: we are producing 5k+ barrels, we have no debt, we have a valuable pipeline, we have unexplored acreage, we have great partners and we aren't in a rush. Well f**k me, when suddenly M&P pounce, its lets get the hell out of Dodge by effectively giving up on our stated strategy and selling all the shareholders out for and extra 2p. It just not stack up strategically or it seems commercially. $46m in cash as part of the dowry to GEO and not a whimper of dissent from the NEDs. Clarke Harrison and Wardle have deliberately destroyed the stand alone option for what, 19p of cash per share.....what an f****** crap return for those of us who invested in a meaningful way behind their promises.
Geopark's good fortune only gets better.........
What in your opinion are the risks waiting to get an extra 3%?
for those that think it is risk free return to the sale price are wrong - please don't invest large sums here to get your guaranteed ~3%,. it might happen, but it is far from risk free.
i'm done here. even if we could vote this deal down, which wont happen - there is no integrity remaining. So much so one can doubt so much of what has been done in the last 2 years. nothing would surprise me here. .. i doubted some of it anyway.
this is a firm that used the papal visit as an excuse..... can think of someone in the press right now who couldn't dream that up.
Aim stocks are by in large shams anyways and those that go round promoting them. We've been played end of.
Good luck to many posters here.
If this was a Ponzi Scheme which robbed another pensioner of £40K after six years of loyalty, or a scam phone call that emptied a bank account, the press and authorities would be up in arms. But with AIM there appears to be no morality nor redress for the machinations of BODs of the companies we entrust with our life savings. The empty promises and failure to meet, or even comply with, the programmes of work they publish, put them (without FSA accountability) in the same league as conmen. After today's RNS I'm sure there will be more to come to make us gasp. With many years of trading/investing, I have accepted losses along the way 'on the chin' with good grace, and hope I have gained enough experience to say there is a difference between bad luck and this fiasco.
They must be getting a backhander .....the announcement by Arden that they were co advisers to Amerisur on the cash and “shares” offer for the company....explain the shares bit?
1. The much 'advised' 37p (but would have been happy with 25p+)
2. Furious
3. A dirty weekend in a country house with someone other than the missus :-)
3. Reinvest
Lesson Learned - AIM is certainly not your average market.
So it is okay to push through spending our cash to help someone else who is already buying the company on the cheap, but they wouldn't push ONGC to drill the extra wells!!! Friggin joke this lot. cannot make it up. JW must be getting something nice out of this.
A SHORT SURVEY to all
1. Your hoped for price (mine was 30p)
2. Your immediate reaction to that early morning RNS with the offer at 19.2 - in one word ( mine is ‘stunned’)
3. What would you have done with your hoped-for profit - two replies - 3-fantasy reply and 4- realistic reply
( my no3 fantasy would be to fly to Las Vegas for a wild weekend and blow £10000
( my no 4 realistic reply- ‘carry on trying to be clever on stockmarket and probably lose a great deal more than £10000‘
Finally the lesson if any you learnt from investing in Amerisur- No5
( my reply - ‘ with 600000 shares this is my last ever stockmarket investment chasing the ‘golden nugget’)
So our management team having waved the white flag are committing $25m of our cash to Geo ...how nice of them
John Wardle is taking the ****....