The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
29p ? Holy moly! Proper beating. 15.9 for me
Thanks for sharing...
"It is hard to put a market valuation on the Combined Group given Chrysaor is not a quoted company. "
So how they came up with 5-5.45%?
Are they saying there's no analysts that can give a guess valuation of the group?
why there's no formal updates from PMO?
a $300m valuation for shareholders in the new combined group gives a SP valuation double where it is (12.8p).
Thanks for this but unfortunately no new news in that , I suppose we need to know a net worth of our individual shares going forward to give confidence . As we know the company (PMO) will not go burst but we should as share holders be given more information. Honestly it’s like penny’s in a slot machine ! When at 14p I was thinking it’s a must and cannot go lower ! Then look at today .... no confidence = no purchases ... yet I need to pull average down as it’s at 29p !
Dear Mr C************
Thank you for your email and apologies for the delay in getting back to you. In answer to your questions:
You will retain your Premier shares with Premier's shareholders now owning c. 5-5.45% of the Combined Group. So if you owned 5% of Premier, you will now own approximately 0.25% of the Combined Group on completion of the merger.
It is hard to put a market valuation on the Combined Group given Chrysaor is not a quoted company. That said, the Combined Group will be similar in size to that of the Norwegian E&Ps – Aker BP and Lundin – in terms of production, reserves and balance sheet. It would therefore not be unreasonable to expect that the market cap of the Combined Group would be similar to that of AkerBP and Lundin who have a market cap of c. $5-6bn. With 5-5.45% in the Combined Group, that would put Premier’s market cap today at c. $300m.
While some shareholders are disappointed that we are not going ahead with the standalone refi/BP Acquisitions, they recognise the strong industrial and financial logic for the merger and that in the current environment it is probably better to be investing in a bigger company with stronger balance sheet rather than smaller E&P.
Kind regards, Elizabeth
From: harrycarson18
Sent: 14 October 2020 16:59
To: London Reception
Subject: [EXTERNAL] Merger and consequential impact.
*** EXTERNAL E-MAIL : Beware links and/or attachments ***
Sir/Madam
As a shareholder of the company ( Premier Oil) please confirm the anticipated change in value ( not in monetary terms) in terms of percentage of value increase/ decrease of each share before and after.
ie: 1 share is currently worth 1 share.
After the merger what will the ratio be?
Also, will current private shareholders be materially and financially better off if and when the merger happens.
Clearly these are questions at the forefront of the management's discussion. After all, the principal function of management is to work on behalf of the shareholders. And as I am a shareholder I must assume that the management decisions have been made with me, and other shareholders, in mind. After all, what type of management would abuse the trust placed in them?
I shall ask about ARCM after your reply to this email. It's quite a task reconciling all of the statements, dates FCA fines, RNS's, SP, debt reduction, bondholders etc. Whew!
I look forward to hearing from you soon.
Yours
T H Carson
Sent from Samsung tablet.
______________________________________________________________________
The information in this email is confidential and is intended only for the person(s) named. Any other distribution, copying or disclosure is prohibited. If you are not the intended recipient, please notify the sender immediately or telephone Premier Oil on +44 (0) 20 7730 1111
www.premier-oil.com
Premier