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I hope they feel aggrieved.
I think that justy because the SP has softened in the lasty couple of sessions does not mean there is no buying action - IMO those interested in gaining a blocking share or challenging Geo will most likely approach II's directly. Buying in the market is too slow and uncertain for the quantities required, whereas approaching II's could leave a party with sufficient committed shares to make a move without any prior notification.
Mav, understandable selling as everyone has an opinion and their own personal circumstances are different. Experience doesn't come into it though when you seize the opportunity to ramp another company in the same post as announcing you selling. Free country and all that but some people have no class.
How many have we got....what does the totalizer say?
Great the hear you back in Margaret, that fills me with confidence.
My thoughts are that if this stitch up gets voted down then GEO would make the deal more attractive and add a few million to take it over the 20% phycological level that most investors were hoping for. What we have seen so far is all part of the game in my opinion. GEO and our BoD's are hoping that they can get away with this derisory offer.
Makes you wonder why the last deal was thrown out without consideration? Only 10% above that level. My guess is GEO are 'more willing to work with the directors' The palms of their hands must resemble a Teflon frying pan!!
JTD as much as I respect you opinion - I can assure you, that, I am as upset / disappointed with the offer bid as anyone. Remember emotion is a sign of weakness in the world of trading. I guess my concerned being less experienced member can be influenced by none factual comments which can affect anyones judgment. I am just trying to offer a balanced view / opinion.
An old friends once told me - 'Opinions are like ********s, everyone got one'
Come on Hermes, get the cheque book out again, you have not spent 4 months buying to throw the towel in at these levels.
Sold 75% holding on the morning of announcement day at 19.04-19.06, buying some back at these levels gives a reasonable risk/reward punt. It is odd that they are dripping this down though, wonder if there is noise and traction coming through, over and above the pi's, that there may well be over 25% prepared to spit there dummy out!
Marg - that's actually a very sensible approach as the downside risk is minimal and the upside of around 3% already on the table. That's equates to an annualised rate of 36% or up to 45% compound based on a completion within 1 month.
Even if my numbers are slightly out, there's no doubt it beats more or less anything available else where except perhaps loan shark lending (Wonga type)
Makes sense, especially with the tight spread. (not a euphemism Margaret) Ant rumour or whiff off news and you could walk away with a good profit. Was thinking of doing the same. They cannot drop it too low though as that sentiment will increase and GEO will not be able to buy at such a generous discount.
Margaret the 3% translates to around 20% on an annualised basis , so not a bad bet imv.
With the current 3% disparity and in the hope of a new development, I'm buying again, non of my purchases are being shown this morning!
Thanks threeputt.
Why would they stipulate that rather than the normal take over code? Guessing because of the next sentence "In addition, a special resolution, to deal with certain matters ancillary to the Scheme, must be passed by Amerisur Shareholders representing at least 75 per cent. of the votes cast at the Amerisur General Meeting." - ????
Also begs the question: What percentage of people would not be aware of this vote because their shares are tucked away in a lost pension somewhere? 5-10%? To get 75% vote with this offer, they are going to play hardball big time.
Mav- I responded to you last night as you seem to be suggesting the deal is fair and IMO subtly trying to take the steam out of PI anger with being "STITCHED UP"
I'm a little concerned wrt your motives here, presumably you are in profit or perhaps not invested (company stooge), but for many of us who are bitterly disappointed and are sitting on losses, this offer is derisory.
I say company stooge reluctantly, as I know it will annoy you, but your suggestion that Seeking Alpha are making numbers up to upset us, is far, far beyond ridiculous. They produce article and to do guest contributor to advise investor as other online sites do, they don't try to upset anyone. If recollection serves me right they have also produced other articles on North American outfits including Geo Park and I have posted them.
"the Scheme must be approved by a majority in number of the Amerisur Shareholders voting at the Amerisur Court Meeting, either in person or by proxy, representing at least 75 per cent. in value of the Amerisur Shares voted"
Why would Grandeur Peak Global Advisors sell just 41 shares? They hold 1.3% of the Company.
?
According to this document https://www.slaughterandmay.com/media/39320/a-guide-to-takeovers-in-the-united-kingdom.pdf
page 46 at more than 50%:
"offer capable of becoming unconditional as to acceptances"
Looks like a done deal then?
My guess is the CEO wanted a simple cash deal and this is it. If he is the same guy who was at BG when i met him , he would now be about 70 , so why worry about an extra 10% and the complications of shareholding in a cah and equity deal from another bidder?
The problem with a counter bid is that they would have to heavily discount CPO-5 on the basis that ONGC are the operator and are happy to work part-time on this. Also Geo must have much local social and political influence that could restrict access to transport.
Oxy are the obvious counter bidder, but given Mich and bod irrevocable agreements, it would be a huge effort.
There's probably a deal already done between Geo and Occ that will play out in a year or so.
No room for emotion in this game ! I believe the figure is fabricated and designed to upset us AMER holders - Would someone please share the calculation !
What's This?
Share Price Information for Geopark Ord (0MDP)
London Stock Exchange
Share Price: 19.1234Bid: 0.00Ask: 0.00Change: 0.00 (0.00%)
Spread: 0.00 (0.00%)Open: 0.00High: 19.1234Low: 19.1234Yest. Close: 19.1234
0MDP Live PriceLast
thinking of adding.
the first being, M&P (first) offer at 17p. We are 1.58p (not even 10%) above - with SP declining. it would be obscene if financiers were not knocking their door saying they would support them in a counter-bid.
It's a criminal back hander, Giles Clark should have have gone last year when it became clear he was too busy collecting free shares rather than doing his fooling job. Add me to the list of no! 690k shares.
I would like to see the calculation that got AMER to $670 million - £517 million !