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"Sound Energy has received support for the Possible Offer from Angus shareholders "
Sound have contacted various shareholders for support and have 13% (probably non-binding at this stage). The BoD has not received as formal offer so they can't recommend
any course of action right now.
nhawan, the RNS also states that the offers of 1, 1.2 and 1.4p were unequivocally rejected which could be seen as hinting that 1.5p (at the time of the offer) was too low. Lucan hasn't come out and said "wow, yeah, let's accept it" either.
Behave.
Mirasol,
The RNS hints at recommending the offer since they say they got approval from 13% of shareholders. This means they have insiders who want to sell at the low ball price offered by SOU. Lucan has not come out and said that this is too low.
"consultation expiry date with the various parties ends tomorrow i reckon next week we will get the PP"
Unlikely - they'll only start going through all the comments end of this week. They all have to be logged and considered and replied to - or worse they ask for further details, A month would be a good performance
I'm waiting to see where Tidds shares are held, is it as an individual or under an umbrella?
To be fair I'm not sure they are "adamant" about selling - legally they HAVE to recognise interest and things like indicative offers AND inform the shareholders.
They can only "recommend" or "not recommend" a formal offer. it's up to the individual if they vote to accept or decide to sell the shares in the market. Given the large number of small shareholders on here it may not be easy to convince them to sell - unless of course things start to go wrong - in which case remember Sirius Minerals............
Taverham. Are you a bit slow, where is the sellers name?
Why are the bod selling? Because they have realised that it will overspend and
likely be late which means insolvency unless someone with deeper pockets takes it on is my guess.Good luck.
You “reckon” wrong as usual Donk.
Response should be submitted by the 28th January. See the site notice.
What I don't understand is why the BoD are adamant on selling when SFB is due to come online and earn some cash.
The ridiculous 1.5p valuation put by SOU offer is nowhere near what Lucan SFB is worth on it's own yet we have them seriously considering the offer.
The BoD should be trying to create value for all shareholders, not for some insiders who want a quick profit.
https://lincolnshire.planning-register.co.uk/Planning/Display?applicationNumber=PL%2F0176%2F21
consultation expiry date with the various parties ends tomorrow
i reckon next week we will get the PP
GLA
Dear oh dear its just never ending
The long winter nights must utterly fly by........
Panther & Buttons are talking a lot of sense - there IS interest but at what price?
The price is up but still under the valuation that Sound has put on the company . The market isn't convinced this is certain to go up. Bidders will be looking at progress and funds left in the kitty - and of course the hedge starts to loom over everything as time drifts by. No-one will buy if there's any chance they can't meet those delivery times and volumes .
Lol….I suggest you take the tinfoil of your head and have a read of what us “comrades “ are saying.
I can’t remember anyone ever pushing a green agenda on here.
And don’t you think there would be a string of objections against this and the previous applications for PP and the EA application come to that if your crackpot theory was in the least bit plausible?
Croqman-SFB is on course to deliver and it will be outrageous and deceitful of the BOD if there were significant delays ,considering they have reiterated several time that there are no material delays. One expects to start posting weekly updates, as promised by them , and my guess is that they are waiting for EA/Linc council permissions to set the timeframe. there is plenty of gas and SFB is cash cow that everybody (6 so far) want.
SOU offer was low ball and quite pathetic . SOU has immense issues with its own debt obligations .
Angs has already had a placing and Paul selling may be to funds SFB share of increased costs. Paul may be interested in buying SFB for cash anyway . either way, Paul is almost out (maximum 5 million shares left) and consequently his sales will no longer be there to suppress the SP.
SFB, in its own right is worth £60 million less any debt if the CPR is to be believed. But don't be surprised that a cheap deal around £30 million NET to Angus is done with the entire BOD palms properly greased. Standard AIM BOD screw*** shareholders for their deep pockets. The SP is only going one way. UP. All the doubts being created around GAS is complete nonsense. Its happening. End of.
“who it seems could well be receiving their wages from the Russian or Chinese governments.....but I won't go there at the moment.”
Really? Are you sure it’s not little green men?
This is a tinpot company that’s only produced £350k worth of oil since IPO! …..hardly BP or Shell!
nhawan is quite a recent poster on the board and is a trader who talks his book.
Mirasol/nomlungu/HITS are long-established regulars all of whom I have filtered.
Problem was Croq that Lucan didn't get rid of Tidswell - in fact he was dependent on him for the job - and JTP was as much to blame as anyone for the Brockham mess.
VHB,
All was well with this board, pretty much, until the Brockham debacle.
Then, all the diehards who were predicting multi-bags and encouraging posters to buy, buy, buy, threw their toys out of the pram and set up a vigilante group to take legal action against the company.
It wasn't a success.
GL took over, and despite a fresh start, and in a new direction, the vitriol and personal attacks on the bod continued from a hardcore group of individuals who played off of each other, tag-teaming while pretending not to know each other.
Old avatars were replaced with new ones, but some have been here, and as you will know, on UKOG, UJO, etc for years spouting the same negative stuff day after day.
It is relentless, tiring, and boring.
Not saying any of these companies do not have issues, mostly the negatives have outweighed the positives for much of the time, despite the potential, it is the time horizons, leaks, etc that frustrate many rational investors.
Not averse to hearing both sides, if cogent arguments are put forward, but the majority on these boards just repeat the same spiel day after day, only changing their view to another subject when challenged and proved to be false on one line of 'reasoning'.
Zero objectivity.
All on filter for me.
Good luck to you, but not worth engaging, imo
Grey Panther,
In My opinion (and that is all it is) The offer was to set a low bar.. I do not think it was expected to be accepted, especially without cash, which is the only reason to sell the asset.
I think the market view this less as 6 bidders in a war for a prize asset they all want but rather 6 bidders in a war to pick up a profitable asset relatively cheaply. The success & investment in SFB still face significant risks in terms of meeting Liabilities should there be a delay( Loan, Hedge, Approvals & Licenses ). Angus is not in a financially strong position and may not have the cash to see the SFB project through if significant delays are encountered (not an unreasonable assumption given the companies history, in my opinion). I think the market see this as 6 bidders trying to pick up the asset relatively cheaply hoping the BOD & some significant Institutional Investors would prefer to derisk the current investment and take a guaranteed lower gains than continue without the sale where they could make significant more gains should SFB be a success or be forced into a sale to keep the lights on should there be significant delays and they don't have the cash honour the debt & hedge agreements, resulting in possibly less gains than the offer.. this would suit more recent investors sub 1p which maybe the 13% of shareholders were in favour of the SOU offer are., but would screw long term holders.. All in my opinion.
While I know I will get replies to denounce me as a deramper etc i would much prefer an actual counter argument to my opinion and realistic opposite views.
Regards
"The sp is down because those who have done their research probably know the 1.35p spike was as good as it gets for now"
A lot of the day traders are sitting on some big percentage gains, they know a raise is coming and so they're getting out - they can always get back in later and lower
So 6 interested parties, excluding Sound, if you interpret the RNS that way, and we are to expect 'some miracle' that one of the others may make a higher offer.
Nhawan, you really are here just to to disrupt and twist fact and suggest negatively on any positive news.
Filtered along with all of the others with nothing useful, or genuine to add here
"I'm a recent poster on this bulletin board. "
:))))))))))))))))))))))))))))))))))))))))))))))))))))
You were photographed standing next to him Adrain - you thought he was wonderful - until he didn't return your calls............ then you threw a hissy fit
You're certainly a recent ID, VHB.
I'm sorry that you've got so snippy just because your previous post claiming that ANGS had unequivocally rejected the 1.5p paper offer from SOU got shown to be just plain wrong. to date, ANGS has not rejected this possible offer at all.
Perhaps reading RNSes more carefully might help to prevent you - accidentally no doubt - from potentially misleading others?
And by the way, how is Uncle Stevie?