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Agreed, late-reported, from 11:10 and 11:12 this morning.
Make that two 3.35 mil buys at 1.30p!
3.35m buy just reported at 1.3p.
Anyway, just in case Angus has overseen this, I sent them an email bringing it to their attention. If an RNS is required I am sure we’ll get it soon.
It's a first declared bid.
What we need is interest in Angus &/or Saltfleetby from a player with deeper pockets than Sound.
Cash is king! 10p+ with gas!
The 20th May 2021 Results gives a good idea of the state of play regarding SOU.
Yanis- Angus energy will issue RNS eventually saying the SOU offer was rejected outright due to its inadequacy. BOD of angus will have to explain the reason of rejection.
Ocelot, their offer is an all share offer. They don’t have the cash to be buying.
I think Angus as per AIM regulations must issue an RNS.
How serious is the Sound bid?
In theory, an investor can buy up to 30% of a stock before being obliged to bid for the whole company.
The share price is currently below Sound's proposed price. They would be mopping up shares at this price if they intended to proceed with the bid.
Surprised that Angus did not issue an RNS today following the Sound Energy RNS.
Don’t AIM regulations require that Angus does so?
Obviously, this is price sensitive information as it has already impacted the SP - so Angus should confirm, deny or expand on this. Is this right?
Oops, I meant 1.00p, 1.3p and 1.4p as the levels of the previous and rejected offers.
Reading this morning's RNS carefully (as ever, the devil is in the detail), it's clear that ANGS has NOT in fact unequivocally rejected the latest 1.5p offer from SOU - although it certainly unequivocally rejected the three PREVIOUS offers (1.00p, 1.2p and 1.3p) mentioned.
"Sound Energy has submitted three non-binding indicative proposals of 1.00 pence per Angus share, 1.30 pence per Angus share and 1.40 pence per Angus share to Angus's Chairman and Managing Director on 18 December 2021, 30 December 2021 and 5 January 2022 respectively, such possible consideration to be satisfied by the issuance of Sound Energy shares to Angus shareholders.... Each of these proposals was unequivocally rejected by the Angus Board.
On 14 January 2022, Gneiss Energy Limited, in its capacity as financial adviser to Sound Energy, made a further formal approach orally to the Managing Director of Angus and Beaumont Cornish Limited, financial adviser to Angus, confirming the terms of the Possible Offer (which are described below) and noted Sound Energy's desire to proceed with the Possible Offer on the basis of a recommendation from the Angus Board."
I wonder whether ANGS will issue news on its view of this latest revised offer?
That has to be the biggest ramp I have ever seen, there will be no bidding war, stop ramping . Its Sounds baby now, we will take good care of it and the profits :)
10p coming!
RT,just call Mirasol ANUSOL it's easier.
nhawan are you that naive to read the rns??or is that you thinking that way??
everyone here is thinking that first offer has received and rejected by angus!!
this is the beginning and many offers will come as we got potential 6 buyers!!
so stop your BS here mate.
Has a bidding war really started? Not yet, IMO, as our current 1.225p SP is about 18% below Sound's proposed 1.5p paper offer. I realise that it's likely to be an "all share" offer - that is, if a formal offer ever emerges, and isn't rejected again by our board for the (?) fourth time. I reckon we are worth much more than 1.5p, considering the present ca. 200p / Therm. Any further thoughts would be appreciated.
Most disappointing this is that the 1.5p offer has put a huge damper on the upside. People were predicting 5 baggers from here yet we have a sizeable percentage of insiders accepting this low ball offer of 1.5p.
The BoD would be seriously stupid to even think about anything less than 3p since SFB is worth more than that alone. Why did they not just go ahead with SFB and reap the rewards?
1.5p is a Mickey mouse offer.With Angus owning a 38% stake it is about as far as they could go. Go to gas ourselves. We have come this far. Why give away the farm.
RedbullRJ
For an update on your posting earlier see
The Orwell group Ltd
Company number 11588582
Some interesting names gone on the confirmation statement on the 21st December!
we have rejected all three offers.
next offer will be in days and definitely before gas production in feb!!
Sun is shining in SW London, RT003, ... and on prospects for Angus.
Serious bidders will do due diligence as the key to value here is gas flowing on time and in sufficient quantities to meet contractual commitments. More time is likely required for that process to complete - either way value for investors is on a knife edge imv.
Don't think SOU will come back with a 2p offer.
Perhaps a re-jig of the current offer to include a cash element with a small premium on the last price, but not that high.
They can see they have some support at the level given before it goes to shareholders, so not in their interests to go much higher unless others sow their hand