Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I guess it’s more complicated putting a bid together as a consortium rather than solo.
Since the consortium only reshuffled last week, apparently, then I guess they have quite a lot to sort out between them about how to divide the pie up. And any decisions need to be negotiated and agreed by two sets of management as well as with the AA.
I originally expected a bid to be announced today, with the results. I suspect the delay is purely down to the consortium organising itself internally. I would certainly hope to see a bid within a week now.
I imagine that the reason why the other two left the process last week was because there has been a bidding process behind the scenes and they were the low bidders and therefore eliminated. Hopefully the terms of the deal as far as the AA is concerned are sorted by now, but the terms within the consortium are being negotiated before they commit to making the offer public.
Fingers crossed - always optimistic!
It is a high conviction bet for me. If you believe 35-40p region then you should sell as this would be rejected by all shareholders especially ABC.
I have as thinking 35-40 as there seems to have been a fair amount of hype and media commentary. Are you well invested with AA, I’ve got 50000.....
The RNS updates are because of the takeover rules. Albert Bridge Capital (ABC) are mopping up the sells slowly. If the outcome of PE is not successful this will fall to 20-25p but should recover. The upside is unknown. Media speculate a deal 40-50p. I am speculating 55p to 80p.
Many thanks Mr Fibbles for you informative feedback, can you just further explai why there are so many and different RNS each day, i assume essentially they are all informing of different share purchases but they don't transpire as trade on the given day?
In the results video (see AA PLC website and sign up) said that the bid is nearing the end. So to me that means, zero chance of an outcome tomorrow possibly even Thursday (hence the extension and the selling by traders) but the chances increase as soon as Friday. Then a mid chance next week. Failing anything next week then the chances increase until the end of the month.
The whole process is about doing what is right foremost to the company with the approval of the shareholders. In the past it has been deals done to the detriment of The AA. The AA is not simply going to sell to the highest bidder without equity swap and will show that capitalism can do and should do good.
It is worth however taking some of the table to participate in a placing. I successfully profited from Capita some years ago when thy did the same... the AA is for more resilient than Capita. I strongly believe it will not come to this and we get a speedy exit at an attractive price, whatever that is.
Although the consortium have the extension until 27/10 and shares are being continually notified through the RNS when do you think a bid is most likely.? Within the months process the SP could hit the floor, lots of selling going on and results don’t seem particularly well received?
Good results and a bid coming,looks ok to me.