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San Leon Share Chat (SLE)



Share Price: 29.125Bid: 28.00Ask: 29.75Change: 0.00 (0.00%)No Movement on San Leon
Spread: 1.75Spread as %: 6.25%Open: 29.125High: 0.00Low: 0.00Yesterday’s Close: 29.125


Share Discussion for San Leon


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SloppyJoe
Posts: 3,947
Off Topic
Opinion:No Opinion
Price:29.125
Unfortunately Sid
23 May '16
I can't. I've only ever had this one.

Sorry.
 
SloppyJoe
Posts: 3,947
Off Topic
Opinion:No Opinion
Price:29.125
View Thread (2)
I wonder
23 May '16
Which one are you.

Brotherseven, Frus or yet another one for Sid.

It won't matter in the long run I suppose.
SloppyJoe.
Posts: 10
Off Topic
Opinion:No Opinion
Price:29.125
View Thread (4)
A premium priced share placing
23 May '16
In order to pay for the loan notes San Leon said it plans to raise at least US$200mln through a placing of shares. It is envisaged that the new shares will be sold at 105p, a 261% premium to its price prior to suspension on AIM in January.

Toscafund is expected to be among the participating investors, and San Leon told investors that its preliminary talks with other institutions had been “very positive”.

Whitman Howard and Brandon Hill Capital have been retained to act as brokers for the placing.

As part of the pitch to investors, San Leon is promising a new five year dividend policy.

Given that San Leon was valued in the market at around £18mln prior to its suspension earlier this year, the equity funding will take the form of a reverse takeover (and as such previous shareholders will see dilution).
SloppyJoe.
Posts: 10
Off Topic
Opinion:No Opinion
Price:29.125
View Thread (5)
San Leon Energy to raise US$200mln
23 May '16
The AIM-listed oiler wants to acquire high interest loan notes that enabled the takeover of Mart Resources, and the arrangement is supported by major shareholder Toscafund.

San Leon Energy Plc (LON:SLE) is set to have a more direct role in the Nigerian oil deal which saw the buy-out of Mart Resources in April.

Toscafund, San Leon's major shareholder with 41%, funded the initial US$73mln payment for the Mart acquisition by subscribing for loan notes in a newly created takeover vehicle.

A second tranche of loan notes, amounting to US$100mln, is also planned and those funds will enable the completion of the full transaction.

It is now proposed, however, that San Leon will acquire all US$173mln of notes from Toscafund, subject to the company raising US$200mln through a new share placing.

As a result, San Leon will have security over the acquired assets and it will receive income from the notes (they pay 17% per year and mature in March 2020).

San Leon will, as was previously planned, still receive just shy of 10% indirect interest in the OML 18 operations which have produced at a rate of 50,000 barrels of oil per day - and could be expanded to 100,000 bopd.

The AIM quoted company also expects to generate revenues through the provision of oil field services to the Nigerian operator.
SloppyJoe.
Posts: 10
Off Topic
Opinion:No Opinion
Price:29.125
View Thread (5)
NovaSeis
23 May '16
honestsid
Posts: 864
Off Topic
Opinion:No Opinion
Price:29.125
RE: when San Leon shares relist
23 May '16
scary is it Searcher? of course its not, your not a shareholder just a man with a job to do. Doesn't matter to you what happens as long as your posts are not removed.
SloppyJoe
Posts: 3,947
Off Topic
Opinion:No Opinion
Price:29.125
I see
23 May '16
We have a different bunch of people slating the company today.

Well, a different bunch of IDs at any rate.

A quick look at their histories reveals they've been wrong about everything for the last year or so.

Don't think you have to look beyond that really.

Another day goes by...
GoldD
Posts: 801
Premium Chat Member
Off Topic
Opinion:Strong Buy
Price:29.125
View Thread (6)
Shareholder circular?
23 May '16
Anyone got one yet?

Fair to say it will close above £2 on day one close.
smithy91
Posts: 319
Off Topic
Opinion:No Opinion
Price:29.125
View Thread (2)
this is a great
23 May '16
stream of revenue.

It is now proposed, however, that San Leon will acquire all US$173mln of notes from Toscafund, subject to the company raising US$200mln through a new share placing.

As a result, San Leon will have security over the acquired assets and it will receive income from the notes (they pay 17% per year and mature in March 2020).

17% on $173mill is more than the Mc at present. plus cash sweep, plus production, plus service contract!.

And what do supposed holders post. An iii post which means zilch, just like their holdings!
Searcher
Posts: 36,834
Off Topic
Opinion:No Opinion
Price:29.125
RE: when San Leon shares relist
23 May '16
hahhahaha Sid if that is what becomes of "VALID RESEARCH" god help the lot of us...it is full of rubbish and you know it... now logging off so have a good evening ;)




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