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Used to be a lot more ! but I need the cash for another prospect and I don't trust these guys anymore
South Disouq is more than West Gharib
You own £300k worth?
Got 16k out this am - will go for amother 8 before close and so on for around 2-3 weeks
With the cash injection of $10bn coming from IMF, $30bn coming from UAE and $8bn coming from EU, the egyptian economy will soon stabilise and you will be able take $ out of country.
SD is cash generative, once money is able to move out of country its gonna be good. Lets just say they cant pay bills cos of money stuck in egypt, they go into admin and sell off assets. I bet they get alot more that £8m for their assets. We already been offered $6.9m for West Gharib. South Disouq infrastructure has value, they wont just sell it for free.
You won't be able to sell any amount in reality until the market wakes up. They might as well have suspended the shares.
I've begun though it is hard to sell any serious volume atm - this could take some time !
Ok Smellyben..
Unload..
The board have also said they are trying to agree larger payement with Citic for upfront gas payment.
If the deal falls through the new strategy falls through
We don't know the situation with repatriation of any cash and without it there are going concern issues.
Anyway I'm not trying to convince anyone just letting you all know the sp will take a hit ov er the next couple of weeks as I unload
Even it falls through, Egypt is highly cash-generative, meaning that assuming we can eventually get money out of the country, we're going to profit.
While of course I agree that if there is certain news then the Board must announce but it is very feasible that the prospective purchaser is playing hardball with the price, maybe the government are playing hardball with the approvals and while nothing may have fallen through legally the fact it has taken so long - 9bmonths since the announcement means to me that the deal may well fall through but we are nearly a year down the line with the new fangled strategy - which is dependent on the Egypt sale - is dead in the water. If parties want a deal they make it happen and meet the price demanded - delays of this sort usually mean it will fall through and I don't wanna be left holding the baby
BOD are required by law to disclose any event which may be market sensitive.As no RNS has been issued since 10/01/24 we must assume that nothing has changed since then.The facts then were that Egyptian sale will be more than market cap.Selling now would be illogical
Barhut, c'mon, really? Wrong? There's nothing "wrong", just bureaucracy and so young and naive execs giving wonky guidance.
Is 4p not cheap enough for you? Do you want this business for free?
Smellyben. You seem to be the only one here who lives in reality. You are correct in your comments, it’s not negative it is true. Something is clearly wrong
Smelly, in jan they stated they have agreed price for WG and said they are close to agreeing SD. I would wait, if the party were pulling out it wont take this long.
Also the longer it take the stronger sdx hand gets, the egyptian economy is getting pumped once you can take dollars out of country again Sdx are back in action.
Sdx is oversold..
It's been at least 4 months late how can nothing have changed ! Something mustvhave happened in the negotiation on SD, something must have happened on KS21 - they must be doing something or are we constantly depleting cash on pointless capex until a fundraise is required. The new management have missed deadline after deadline and simply that does not inspire confidence- tomorrow is my last day of inaction and then I start selling down my stake
This is what i have been doing.
Like Ned has stated if nothing has changed they cannot mention. We will wait. If egypt reverse the dollar issue then its game on again. Sdx can take money in and out of egypt can run their business. Imf, eu and uae money will help.
Well i just sent my comments to their general questions site - if someone can share the CEO email I'll happily email him too !!
Is there any point, if they had something to say presumably they'd say it?
Can you share email addresses and I'll do it today and maybe one or two others will
Have any of you emailed the BOD to complain of lack of communication ? I have several times to no avail but maybe they think I am a lone voice
So said our CEO ..........six months ago and nothing since
All good for Egypt and that's good but our Board continue to stay completely silent - nothing re WG , nothing for SD nothing for KS21 - months after they said it would complete in December. - all from a board that said they would improve communication after the share price has dropped 70% of so - really really poor - the market has priced sdx below NAV because they think they are leaking cash day after day and nothing from the Board
First the imf, then UAE and now EU.
Maybe now sdx can recover. Just look at NAV of the assets. Way higher than current mkt cap. Board just need to pull out finger.
Ned
"Islam is practiced by 90% of Egyptians."
In my view they still plan to liquidate in egypt and now the board only mention MOROCCO, whther in rns's or tweets. So nothing has changed.