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NewKOTB,
I think I'm in agreement with you??
Is this a right royal stitch up?
Or
The start of something that could become very big and hopefully very profitable on the back of net zero.
Something along the lines of the ICI's of this world being morphed into an Ineos?
GLA
Danno.
toftshaw
A fool and his money are soon parted. What I want to know is how they got together in the first place.
Slightly off topic…. bids closed for potential buyers for Hurricane Energy on 7th Jan .. not saying any links but more of an interest in how that one plays out…
I think it’s fair to say Newkotb, that if that part of the deal changed (which has been stated before) .. the percentage being handed over to a size ie 20% stake (or less) & the share dilution sorted out more favourably, a lot more shareholders could see the potential future benefits… if Mercuria are that keen the Bod should be going back to them & act on shareholders interests… which obvs leads to the question ‘why aren’t they?….’.
Of course, I would therefore expect Andrew may well be one of the first to fall under the hammer.... then onto overseas interests asap I would say.
PS Still not heard from any major institution either for or against this deal ....
PPS Mercuria post forma ~28.9% holding is by design, the hidden agenda for this is why I voted against issue of further equity.
aimo & dyor
Zebbo - I'm pretty sure retrospection is a fundamental principle of tax law.
She's playing politics . Back dating sounds good but will not happen.
Agree that not a great environment to operate in.
Think I'll be supporting Labour then but only for the time that it takes for this deal to fail.
Then back to supporting no one again.
has just said (live on Skynews) re Oil & Gas companies that Labour would abolish loopholes, extend the windfall tax and backdate to 1st January 2022.
At this rate Mercuria could pull out...
Danno,
Does beg the question, what advantage will Lawson bring to Mercuria on and above what they have now ? And why after just joining Mercuria was he immediately assigned as part of the deal to our board as non-executive director.
I'm sure ACW has a 'friendship' with Lawson too built off their common BP ties !!
How will Lawson via Mercuira / BP add value to SQZ ? Remember BP's Looney have stated their green agenda, in order to execute this they would need to 'off-load' significant current O&G fast and in an controlled manner in order to meet their net zero targets. Ie Simple deal replication over multiple assets over multiple deals .... BKR repeated time and time again.
Lawson as head of BP M&A since Jul 2012 he would have been involved in both Erskine and esp BKR deal. His Linked-in page is interesting and he joined Mercuria in 2022 probably around July giving 6 months notice (circa 20/7/22). Now remind me when did we Serica shareholders get 'strongly' advised not to take any action... 12th July regarding Kistos deal.... hummm !!
I've already stated that Serica will become a Trojan Horse for Mercuira, in turn Serica ( aka Mercuria) take advantage of BP's net zero ambitions, given Mercuria's, as stated by Mitch, its "fire power" !
Am I now forming another view on this deal outside of these awful terms, or is this why they are so awful T&C's, maybe but my vote was and will remain NO !!!! As I can only vote on what information we have been given.
https://uk.linkedin.com/in/robert-lawson-8451579
https://www.bp.com/en/global/corporate/sustainability/getting-to-net-zero/five-aims-to-get-bp-to-net-zero.html
aimo & dyor
Give us and odd ode, Upmega.
T
The world would be a better place had Cyril Fletcher still been around. inmv
That’s fair Banbury. Get upomega absolutely trousered and enjoy his rants and musings. The bet value was one share so at this rate that’s half a pint of mild, but heavily diluted with 40% water?! However I can offset it in my tax return?
I bat for shareholder return on a 3 year view. I’ve held this for more than 10 years, so still happy enough right now. Let’s hope we’re not on the way back to pennies. I very much doubt it…
Thats hostelry and london town. There is a good real pub of leciester square.Banburyboy there will be bears on the street along with Serica great britain land share certificates and rince arry book
valparaiso
That sounds quite an interesting investment. I will take a look. Odly enough i do not think things would be deterioting so quickly in the U.K had Boris still remained as pm.
atb
Mrs Norma - make sure you have a stop loss on the drinks for Upomega in that bet !! Londonderry sounds a wide exposure with plenty of beers.. You might bat for the YES camp but I still looking out for you. Mr Banbury
Upomega
Last 2 years of my divi has gone into zephyr onshore drilling in USA ….made my mind up during covid after watching Boris throw money at some in grants and others penalised ,and of course an impending Labour Party will make criminals of anyone making a few quid ! Zephyr chairman has plenty of skin in there , and Uncle Sam is more tolerant to wealth!
NormaStits.
April is approaching so our bet will need to be settled. The easiest way to do this is to leave a drink paid for behind the counter in a hostile er in good old Londonderry town.inmv.
In my summary of events with holding Serica Energy shares.
I cannot speak for anyone else ,but I would have completely sold up long ago had I not been lead down the garden path by the bod. Why oh why were we not getting ven the option on Kistos vote
This deal has gone against everything they said they would not do during the past four years. They have not only destroyed the share price,but in effect sold the company at third of its price. To boot they still get millions of share options.
P s . I voted,but whatever happens I am a seller. Many other better investments out there inmv.even oil and gas. For example Harbour.
No. Traditional long-only equity portfolios, no shorting and we don’t lend stock either. Some of our larger separate account clients (typically $100m+ portfolios) might lend stock in which we invested on their behalf, but that’s their decision not ours.
Some of our bond portfolios will take short exposure via derivatives. That is mainly for risk protection to remove specific betas.
One of the interesting points he makes across both videos is that some larger investors were given the impression the company would pay out some 100p to shareholders if they didn't entertain the Kistos deal. I find that hard to believe, but if it were true, then surely thinking you are getting 100p and instead getting this deal? It would be another reason for larger holders to vote against it.
Thanks for your kind comments, Mommur. Yes, I'm still around and managing to keep the grim reaper at bay, albeit at a cost because the side effects of the monthly injections have been pretty debilitating at times and my mobility has been poor these past 9 months. The only way to approach the situation as far as I'm concerned is to stay positive and remain as active and focused as posssible.
Off topic and just as a matter of interest, were any holders here investors in Juridica Investments Limited, which was the first litigation funding outfit to list in the UK (on AIM in late 2007, about 2 years before Burford Capital). If so, I can apprise them of recent events they might find interesting. I've been working on it since 2015.
The current SP is pretty well beaten up. But is it reflecting general market sentiment or a No vote, or Yes vote
Any thoughts
"I work in the City and am very trustworthy, thank you"...........
.....do you ever engage in stock lending NS?
Great to listen to a knowledgeable voice but actually switched the video off before halfway, found it far too depressing.
General points that should be answered
Why has this deal not been fully explained
Why is it being rushed through
Why are BoD not allowing time for a full and fair analysis
Why were shareholders not allowed to vote on previous £4.25 offer
Why are market regulations so slack for an exchange operating in London
Why would any shareholder vote Yes without the above information
Why does this whole saga stink the place out