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I don't feel relieved as in my view the repositioning of the debt wasn’t in doubt. But I do feel a little more reassured that Seafox will turn this around.
It’s a long road back but we’re on the right track.
1. Debt - fixed, with savings of $50m over 2021 and 2022
2. Capital raise - $25m by June 2021, with commitments from SF and Mazroui
3. Operations - EBITDA guidance cut, impairment of 90m, write off of fees paid to advisors (cleaning up the books)
4. 2021 guidance - not much by way of numbers, but seem positive
Overall positive, and I am relieved that the new board has delivered!
Never expected it to drag out this long ... I guess they could be getting a decent deal, takes time.
Won't be surprised with another extension. Also part of SF's plan could be to frustrate minority shareholders so that they accept any bid
can look forward to another extension ?
sleepy .
lets hope so
Surely we will get news next week
Thought you predicted 'big movement' like 2 weeks ago
Looks like more people are buying then selling at the moment, can we assume that something is happening. Plus Crude Oil price is going up surely we will hit 10p soon...
Absolutely spot on Si547. Only question is what they do with that much control. And their control is also dependent on the coalition with Mazroui and Horizon, and I would think they want to realize some value out of this, unless they have something else going on the sides. Mazroui had expressed their opposition to last year's bid.
Reality is they already control the business! Their BOD; their Executive Chairman.....
Surely wouldn’t be rolling over on monthly extensions with no defaults if that was the case ?
Surely would also be cheaper to let it default & clear the debt take it off the lenders afterwards.
Believe they have to bid at 22p till June, if they wish to take control of the business. Won't be surprised if this is their strategy - drag things out.
Are SF free to bid whatever they like now or are they still in a closed window? I've completely lost track of the timings. Just wondering whether the BOD are dragging things out in order for a SF bid to be lodged at the current price. You would think this would pop if the finance deal was announced which would make a bid at 22p harder to get through.
Surely news this week.
Hopefully not the low ballers from SF
Wouldn't mind someone making a bid for us close to our NAV.
https://www.londonstockexchange.com/news-article/ADES/offer-by-innovative-energy-holding/14890500
Transaction in an adjacent space. Bidding consortium includes Saudi sovereign wealth fund PIF. I don't think this is a good deal for minority shareholders, even though there is a decent premium to closing price. Good to see the interest in the space
The contrarian holds the skills.
Really cannot see this going down now, never say never of course but I’m surprised there isn’t more volume.
Reminds me of MCRO in October (but riskier)
Unless they’re on the stitch up...
seems v unlikely given we are 3 months in on rollovers & the statements they’ve put out. Books very strong 15m ? Nav @ 65p. Strong market.
Value isn’t quite once it once was, but..
5p ?? Nav @ 65p ?15m ebitda ?
Fingers crossed!
ÂŁ6k notional traded, such small lot sizes it looks like increased volume but in reality nothing is going through of any significance at the moment. Fully expect the financing news to be leaked before the RNS though.
Illiquid stock with a bid ask spread that an elephant can pass through. The share price movements are never as good or bad as you think it is.
10% up this morning, now midday and 6% down. I don't know what to think about this one.
leak ??