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Do we have a time for the issue? Monday is the issue day?
Thanks all. It is as I hoped. Cerp shares even after the 0.803 conversion rate will be worth more on Monday (assuming bpc is still at 2.7 ish) than they were worth pre conversion rate on Thursday.
From Columbus closing price of 1.83p on Thursday the value of my holding has risen 15% using the conversion and then applying todays 2,7p closing price. Columbus Energy is no more and whilst it is a change I did not see coming, or wanted, I haven't sold so therefore can only embrace the new company. I know some are BPC holders, some are Columbus holders and some are both but as from Monday, there are no divisions as we are all as one . Onwards and upwards, good luck all!
Investo/Cars don't forget the conversion rate, 0.803 I think. The CERP shares will become BPC shares but you need to apply the conversion rate to work out how many new BPC shares you will own. Hope that helps.
Investo123 the 80,300 shares are now just BPC shares. So they are worth the market price on Monday and can be traded as a BPC share.
So shares bought in CERP at 1.80 would roughly represent a price of just under 2.20 a share in BPC. So currently a nice bump in value. I bought at 1.95 in CERP so roughly 2.35 per share in BPC.
£4.2m from PRD would be nice at this juncture.........!
although Paul Griffiths says it's not on the table in his recent media negotiation on the matter............!
All the best (elbow bump Potter, and pay up I say ...................:()
"Bahamas Petroleum Company plc ("BPC"), is a Caribbean and Atlantic margin focused oil and gas company, with exploration, production, appraisal and development assets in licences located in the waters of The Bahamas and Uruguay and onshore licenses in Trinidad and Suriname. BPC is currently on-track for drilling an initial exploration well in The Bahamas, Perseverance #1, in late 2020 / early 2021, with the well targeting recoverable P50 prospective oil resources of 0.77 billion barrels, with an upside of 1.44 billion barrels. BPC's exploration licence in Uruguay is highly prospective, with a potential resource of 1 billion barrels of oil equivalent. In Trinidad, BPC has five producing fields, two appraisal / development projects and a prospective exploration portfolio in the South West Peninsula. In Suriname, BPC has an onshore appraisal / development project."
RNS just out. Merger done. CERP converted shares should show up for trading on CREST systems at anytime after 8am monday.
I was also correct that Trafalgar got a few extra shares for the lind loan replacement due to SP being +/- 2.5p. Point 9 in yesterday's post for possible/probable future news flow.
Good luck all. Next few months will be exciting.
Starchild
Monday will be one to watch..............!
which way the SP will go........... ? only those in the know will be able to tell you that one :)
All the best (Dec ......... mid, maybe a more apt time target :()
Thanks. I'm not looking to change anything with my holdings, but I'm interested in the mechanics. I get that 100,000 would become 80,300 but wasn't sure if these would attract the closing BPC share price on Monday or some other calculation
The complaining was change of direction and added risk willec from some...........!
Covid or in BOD disagreements...........? we'll never know............!
All the best (cash rather than shares for remuneration is high on my thoughts :)
investo123, your shares will be converted at 80.3% BPC. The price this moment on BPC is 2.30/2.50 Bid/Ask with the last trade at 2.445. If this stays exactly the same monday, you are slightly better off as CERP Bid/ask was 1.70 - 1.95 (and a last trade at 1.82). It may go even higher next week
Starchild
OK, thanks. Couldn't agree more. So in the example I set out, the value of the CERP shares will jump by about 8% based on the current BPC price.
£1846 at the current Bid quote............!
minus trading costs............ :)
All the best (would you believe............ very much the same :)
precisely so I do not understand all the complaints about the merger and CERP sh losing out on the CERP BB.
The Cerp shares closed at 1.82p and my understanding is that they will now be converted into BPC shares at the rate of 0.803 per share. So for example purposes, lets say 100,000 CERP shares are currently worth £1820. When they convert into BPC they will become 80,300 shares...but what will they then be worth? Do those new BPC shares attract the current BPC share price?