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Michael Masterman talks on WRES potential & Tungsten market Watch here

Michael Masterman talks on WRES potential & Tungsten market


San Leon Share Chat (SLE)



Share Price: 55.50Bid: 55.00Ask: 56.00Change: 0.00 (0.00%)No Movement on San Leon
Spread: 1.00Spread as %: 1.82%Open: 54.25High: 54.25Low: 54.25Yesterday’s Close: 55.50


Share Discussion for San Leon


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Brotherseven
Posts: 504
Off Topic
Opinion:No Opinion
Price:54.50
Chinese whispers
28 Feb '17
Whatever happened to the Chinese whispers re take over?
 
nightflight
Posts: 12
Off Topic
Opinion:No Opinion
Price:55.25
RE: A simpler explanation?
27 Feb '17
If not to the other institutional holders then maybe Tosca have been dealing instead with the brokers/MMs as I described...
stephen54321
Posts: 403
Off Topic
Opinion:No Opinion
Price:55.50
Gold
27 Feb '17
?????? Give you anything ????
GoldD
Posts: 1,047
Off Topic
Opinion:Strong Buy
Price:54.875
Glad to see all 3 of
27 Feb '17
Glad to see all 3 of my oilies doing well. Its taken a while, phew!

PMO turned the corner today as well. Enjoy the ride up now. GLA. DOn't say I never give you anything!
driveat15
Posts: 54
Observation
Opinion:Buy
Price:54.875
View Thread (2)
RE: A simpler explanation?
26 Feb '17
None of the large holders (1% plus) have sold a single share.

Outside of a takeover period they report within a few days of crossing certain % thresholds rather than reporting every trade. BUT during takeover period the rules are different - anybody holding 1% or more must report ANY trades by 3:30pm the following trading day.

San Leon is still listed on the Irish Takeover Panel's "Disclosure Table" so they are still deemed to be in a takeover period and these "takeover" reporting requirements apply.
nightflight
Posts: 12
Off Topic
Opinion:No Opinion
Price:54.875
A simpler explanation?
26 Feb '17
My first thought on observing the past few weeks trading was that Tosca has told fanning to accept the apparent offer at 80p or hopefully higher as soon as they have accumulated enough in the 50s so they will turn a profit, and perhaps they have told other large holders they must part with their shares or they won't allow the buyout - therefore other holders are selling an agreed amount but don't mind too much as they bought lower than the 50s and will make more money on the ones they have left when it all goes through. I note that there hasn't been any mandatory reporting threshold crossings in the RNSs for major holding reductions so far.... but apart from that isn't this simple explanation more plausible than this rather complex squeeze out idea? Unless this would fall on the wrong side of the rules.
Timbremner
Posts: 178
Off Topic
Opinion:Strong Buy
Price:54.875
View Thread (2)
RE: Toscas Game Plan?
26 Feb '17
So tosca decided not to take SLE private a while back at a much lower sp and are now going for a squeeze out at an elevated sp? Um......
BlackSwan
Posts: 469
Observation
Opinion:Hold
Price:54.875
RE: Toscas Game Plan?
26 Feb '17
Good to see the comments rolling again - ref shareholding and coordinating buying which surely must be taking place for the price to remain so stable - thanks for the 80% squeeze Irish law information - now that could be a real bumbler of a plan is to force us already decimated PI to sell at 58p - Jeez - hope OF and the others go throught the same mangle!
honestsid
Posts: 1,558
Answer
Opinion:No Opinion
Price:54.875
RE: Toscas Game Plan?
26 Feb '17
"so Tosca would need to work with 2 of the other holders to secure 80% in my opinion." driveat15

So entirely possible it could be happening then. Tosca don't need to hold the 80% themselves.

"This technique allows one or more shareholders who collectively hold a majority of shares in a corporation to gain ownership of remaining shares in that corporation. "
quelfromage1
Posts: 316
Off Topic
Opinion:Buy
Price:54.875
RE: Odd notion
26 Feb '17
driveat15 yes that was more or less my conclusion!




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