Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Yes I can now access thanks albeit couldn't earlier today.
I would nt be surprised if they have tweaked their slider messages:
Growth through cash flow
Delivering shareholder returns
Long term growth
Social responsibility
Each accompanied with key strap line
Onto other matters info on EDV offer and Centamin response approx 30 sides in word docs, no firm offer by endevour etc
Combination analysis for example in dollars table over the few years etc
H1 2019 ende (85). Cey 33 merged (52)
Another comparison
Looks at resources and inferred edevour compared to Cey not favourable.
Other technical stuff broken down by both , very little in ABC, and Doropo reserves
Even by a layman I would have some concerns
WEB Centamin .... https://www.centamin.com/
No problem in getting in
Hi Dasut,
Thank you on behalf of everyone for speaking with Ross Jerrard on this , glad to hear they are on the case,we don't want Endeavour buying into Centamin with a controlling stake for such a cheap price just as things are looking better!
Great to have the contacts and update
Cheers
Tibbs can you access Centamin web site appears some can and some can't. I have spoken to Ross Jerrard to make him aware of the issue.
He also assures me that Josef and the board are fully engaged on the Endeavour approach albeit didn't elaborate but I suppose only right no more detail.
Centamin have a large amount of cash in reserves so if the board wanted to blow Endeavour out of the water they could easily get leverage of 10% using some or all of this spare cash to open a CFD long position in Centamin stock with negotiated voting rights, this would scupper any bid from Endeavour , unless of course Mr Sawiris put up a lot of cash.
But whatever this strategy would certainly increase any take over bid dramatically if it were to have any chance of success.
Great explanation Master,
Can I ask, if such a large amount was sold during the day, is there a reason that they would not show in the CEY Share Trades section. Volumes seemed quite low, especially for the large drop. This was also the case the day before when the price shot up. I realise that the price opened about £1.20, but from there on the trades section indicated more sold than bought, even though the Share Price went up. Are some trades not reported during the day, especially the biggies?
Thanks.
Hi Prof
Can’t seem to find re holding Adfn , seen lots of pages....and seen master rsi etc
Really weird re website
Mike,
It looks like I was wrong about the holding level of Endeavour though. See Master RSI's helpful clarification at 2346 last night.
Best wishes,
Prof
Thanks Prof, very appreciated learnt something new.
Good update tibbs sounds like a win win strategy by Endeavour with CFD
I have logged on ok to Centamin and had a quick look at the Oct 2019 presentation
Master RSI,
Thanks for the correction/ clarification.
If you are right about them deliberately selling off shares to drive the price down that would help explain the major drop on Thursday.
Best wishes,
Prof
ElProfessor
re - 8%
Sometimes is good to read it properly, the first day of reporting Endevour had 1.26 % of common stock, and it gives me the impression, they have used it, yesterday to sell down to 0.1% plus shorting in order to bring down the stock from 130p
That 8% is of Convertible Bond not of shares
0.1% of common shares
and SHORT 702,526 common shares or 0.64%
RNS 06 Dec 2019 15:00
Class of relevant security: Convertible Bond ISIN US29257YAA29 -- 8.13%
Short - 702,526 shares or 0.64%
RNS - 03/12/2019 12:36pm
14,512,269 shares 1.26 %
shorts 0
When you trade shares via CFDs your broker owns the physical shares.
This is because a CFD is what they call a swap trade. You have swapped the physical shares for a paper contract which gives you the right to 100% of the profits and losses but not the full ownership of the shares.
This also means that the CFD trader will have no rights to vote at the company's AGM or on other company related matters. Some companies also offer shareholder perks such as reduced flight prices or discounts in their stores, and again the CFD trader will not be entitled to these.
However the CFD trader will be entitled to take up a company Rights Issue and receive dividends, or have to pay them if short the shares - see how are CFD dividends handled.
Interesting point re voting rights
Often you'll hear about certain entrepreneurs using CFDs to build a stake in a company with a view to joining the board or using their share holding to influence general company policy. Perhaps pushing for asset sales or a general company reorganisation.
In these types of situations the CFD holder will have negotiated a special deal with their broker giving them full voting rights for their CFD position. So although they don't physically own the shares they control the voting rights.
Mike,
Yes and the again no. The closer they hold to 51% the less they have to buy and therefore the more, in the short term, they can afford to pay for the remainder which bids up the price. At the extreme as they chase the last 1% they could pay £3 and it would be pretty much irrelevant to them whereas to pay £3 for 51% for clearly be very expensive.
Prog
Tibbs, I am no expert on this particular aspect but from memory I do not think CFDs gives you voting rights.
Prof
Yes and they will have been drawing a dividend whilst planning to carpetbag Centamin,
I can't access that website but the shares may be held in CFD positions so Endeavour only need to come up with 10% of the value and leverage the rest.
Endeavour may well use CFD holdings to launch a hostile bid at minimal cost on Centamin!
That would be a concern ................
If I am reading the RNS right on the Centamin webpage then Endeavour are holding 8.13% of Centamin:
https://otp.tools.investis.com/clients/uk/centamin_plc/rns/regulatory-story.aspx?cid=1756&newsid=1350925