So are there shareholders with sufficient aggregate share issue that are independent of the creditors, some of whom are themselves shareholders. Chistyakov average must be over a 100 pence, so he loses out badly. Gordeev paid a 75p average from what I recall. The rest must have averages that are far in excess of the current SP.
If this goes badly would one the billionaires step in and take it private? Or is there some complex web in which major shareholders are connected to the creditors, which in a default of the loans and the failure to be a going concern, they will share the assets between themselves? All hypotheticals and conjectures of course.
London, 13 February 2015: Ruspetro plc (LSE: RPO) announces that, further to the publication on 6 February 2015 of a notification from Sobny Group Corporation ("Sobny") that it had acquired as of 16 January 2015 a direct and indirect interest in 76,694,849 ordinary shares, representing approximately 8.81% of the Company's issued share capital, the Company has been advised by Sobny that it is an associate of Public Joint Stock Company "Bank Otkritie Financial Corporation" ("Otkritie"), Ruspetro's principal lender and its largest creditor.
As disclosed in the Company's prospectus dated 14 November 2014 (the "Prospectus"), Otkritie and its associates are deemed to be acting in concert with Mastin Holdings Limited ("Mastin") for the purposes of the CityCode on Takeovers and Mergers (the "Code"). Mastin is currently the holder of 24.99% of the Company's issued share capital. Accordingly, the concert party comprising Mastin, Otkritie, Sobny and Dignus Limited ("Dignus", being a person acting in concert with Sobny) (together, the "Concert Party"), is now interested, directly and indirectly, in 294,117,792 ordinary shares or approximately 33.80% of the Company's issued share capital.
Mr Sergey Gordeev 25.0% (Billionaire property magnate who is now a Russian Senator)
Limolines Transport Limited 18.3% (50 percent owned by Andrey Likhachev, and 50 percent by investment fund Altera Capital, run by Kirill Androsov, a former deputy economy minister who went on to serve as deputy chief of staff to Prime Minister Vladimir Putin)
Mr Alexander Chistyakov 15.8% (executive board member of RAO Unified Energy Systems of Russia and then the Chief Operating Officer of the Federal Grid Company from 2001 – 2011, having joined in 1999. In 1998, he was head of the economic analysis department and deputy director of the financial department at Russia’s Federal Agency on Industry)
Interesting post SilverSpoons, it is pretty much how I see things, and if your interpretation is correct, this price offers great value. The SP has moved on trades for a few hundred quid, huge spreads, poor liquidity. Five pence is still shocking. I am tempted to buy some more at this price.
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