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I’m still confident they will make an offer of late 50’s, probably back to their original offer. That’s just not enough but nice to have on the table and should underpin the sp.
Medco were probably hoping the oil price base would be $10 less than where it has now formed. To me they are snookered, can't up their offer significantly as their own shareholders wont be too happy. If they walk away with oil price now baselined we can march on and everyone is happy. GLA
It's all gone very quiet!!!
Artemis 1.84%
Standard Life 7.11%
Dimensional Fund 1.84%
Norges Bank 2.37%
Legal & General 5.22%
Ruffer LLP 1.15%
River and Mercantile Asset 1.24%
Nomura International 2.644%(-2.644% ?)
Prudential Plc / M&G 9.18%
State Street Global 1.1169%
Carlson Capital 2.525%
Schroders plc 0.686%
FMR LLC / FIL Ltd 7.10%
The Vanguard Group 2.95%
BlackRock 3.44%
Barclays 1.25% (short 1.26%)
Petrus Advisers 2.61%
Azvalor 8.181%
Bybrook Capital 4.3%
Hotchkis & Wiley 13.7%
Carlson Capital 2.375%
Total declared = +84%
Recent large 8.3's
Bybrook Capital added a straight 3,500,000 shares at 44.2563 on Friday 11th !! note ADDED
Prudential Plc / M&G added +800,000 shares at 43.87 on Friday !! note ADDED
Petrus Advisers added +880,000 shares at 44.71 and 45.00 on Friday !! note ADDED
Azvalor added +300,000 shares at 43.46 and 44.86 on Monday !! note ADDED
Azvalor added +1,100,000 shares at 44.84 on Tuesday !! note ADDED
Azvalor added +835,000 shares at 44.66 on Wednesday 16th !! note ADDED
Strange action by L&G over the past sessions, although they still hold +36m shares !
Legal & General reduced -500,000 shares at 45.1262 from 5.5% to 5.43%
Legal & General reduced -900,000 shares at 45.12 from 5.43% to 5.3%.
Legal & General reduced -600,000 shares at 45.04 from 5.3% to 5.22%
Now net adding once again, still at 5.22%
10 days left now...
With another 15k shares @44.1. Holding a lot now. I would have thought Peel could easily add for Medco in small sums.
I feel confiedemt we’ll be seeing a big north of 50p before end of Jan. If not then we have a good company as a lth
Ophir have listened to Petrus’ demand and appointed the requested NED. Got to be good.
We should but something isn’t adding up here, why on earth is this drifting?? I can’t understand why anyone would sell.
If they are accumulating then we should see some upwards price movement until the end of the month. Time to top up perhaps?
Interesting, as in they only started yesterday, so the instruction must of also come yesterday imo.
Looks like Medco are trying to get their hands on some shares ..... what reason might that be I wonder ! (lol)
Great find. But not a huge amount of shares - only 330k
Peel Hunt are now acting as AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY for by the look of it ..... PT Medco Energi Internasional
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=OPHR&ArticleCode=7cvqllcx&ArticleHeadline=Form_85_EPTRI_Ophir_Energy_Plc
Medco have only got 11 days to start the offer process!
I totally agree with Petrus, As I have said previously there is no need to give this company away unless we get a knockout offer.
I guess it means share buy back. But apart from that very minor quibble, I'm fully behind this.
That's what I thought. It doesn't really exist does it?! Share buyback would be capital gains. Dividend would be taxed as income. Am I missing something?
What is a "tax free capital reduction" exactly?
We therefore demand that Ophir Focus the discussions with Medco on a sale of the SEA operations and only if the price is starting at c. $550 million / 60p per share equivalent.
https://petrusadvisers.com/media/ophir_energy_update_january_2019.pdf
Don't forget Petrus Advisers added +880,000 shares at 44.71 and 45.00 on Friday !! note ADDED
So on Friday they added, on Monday they issued this letter to Ophir. They clearly believe Ophir have value way above our current SP.
https://petrusadvisers.com/media/letter_to_ophir_board_14_january_2019.pdf
I guess we won't know if Shroeders are out as they'd no longer have to file a notification would they?
Artemis 1.84%
Standard Life 7.11%
Dimensional Fund 1.84%
State Street Global 1.1%
Norges Bank 2.37%
Legal & General 5.22%
Ruffer LLP 1.15%
River and Mercantile Asset 1.24%
Nomura International 2.644%(-2.644% ?)
Prudential Plc / M&G 9.18%
State Street Global 1.12246%
Carlson Capital 2.525%
Schroders plc 0.686%
FMR LLC / FIL Ltd 7.10%
The Vanguard Group 2.95%
BlackRock 3.44%
Barclays 1.25% (short 1.26%)
Petrus Advisers 2.61%
Azvalor 8.063%
Bybrook Capital 4.3%
Hotchkis & Wiley 13.7%
Carlson Capital 2.375%
Total declared = +84%
Recent large 8.3's
Bybrook Capital added a straight 3,500,000 shares at 44.2563 on Friday !! note ADDED
Prudential Plc / M&G added +800,000 shares at 43.87 on Friday !! note ADDED
Petrus Advisers added +880,000 shares at 44.71 and 45.00 on Friday !! note ADDED
Azvalor added +300,000 shares at 43.46 and 44.86 on Monday !! note ADDED
Azvalor added +1,100,000 shares at 44.84 on Tuesday !! note ADDED
Strange action by L&G over the past sessions, although they still hold +36m shares !
Legal & General reduced -500,000 shares at 45.1262 from 5.5% to 5.43%
Legal & General reduced -900,000 shares at 45.12 from 5.43% to 5.3%.
Legal & General reduced -600,000 shares at 45.04 from 5.3% to 5.22%
Interesting one is Schroders who have been reducing ... now at 0.686% and would guess be fully out by Tuesday
Interesting summary by Petrus. They reckon the Medco offer should be at least 60p for just the SE Asian assets.
Must have been one of the few that I added! Glad to hear I'm not hallucinating it though :)
Found one :
https://www.proactiveinvestors.co.uk/LON:BARC/Barclays/rns/BWIPREM_20190109005526
So yes, strange indeed !!
Rookie,
To be fair, I didn't actually add Barclays myself to the list, and can not find it atm in the RNS's