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Brent and Gas prices almost back to Jan 2020 levels when the SP was £22. £18.50 offer looking more dodgy by the day !!!
had a quick scan of the docs (purely out of intrigue and future market reference) and thought it was interesting that the confidentiality and non disclosure agreement came into force on the 29th February 2020 :-)
anyway, having as I said already moved on I won't be wasting my hours away (39 pdf's in total) reading any more
happy reading
well my paperwork arrived today in the post however it was a bit of wasted paper exercise (duplicate letters as well which was one for each of my HL accounts) as I sold on the day of the announcement :-)
anyway, virtual meeting(s) are scheduled for 17th August 2020 (11:00 hrs for the court meeting and 11:10 hrs for the general meeting covering the special resolutions) for anyone interested.
BTW all the relevant scheme documentation can be found on their website here :
https://rockroseenergy.com/investors/takeover-documentation/
would have saved them 2 stamps had they just provided electronic notification of that LOL
Well Brent and Gas prices are recovering so a rival bis isn't out of the question. RRE worth £500-600m so a rival £300-£350m bid this week maybe.
I haven’t made up my mind yet MTSparky. I was hoping there might be a rival bid.
I may have got a notification about the takeover bid, but nothing more specific. When exactly is the vote?
I'm with HL and they have sent me a secure message already. Not sure if other brokers do the same?
Are you holding through the vote NMBS?
Should we be getting something through the post on this?
Thanks MT. I’m anticipating it’ll go through as is, so I’ve decided to jump ship. Could end up being the wrong move, but I can’t complain either way with the profit I’ve made here. I’ve been doing a lot of research on other oilies recently - JSE best I’ve seen so far; at 77p looking hugely undervalued (in my opinion). Could be worth you guys doing your own research and checking out - I’m sure once this all goes through many will be eyeing up other oilies with their new crock of gold
According to the offer docs we should get details of a timetable in the post. I thought this week would be likely but I haven't received anything yet.
I like most of you am hoping for a counter offer, or in-fact a no deal (which I can’t see).. but I’m not sure about the timeline. Do any of you know the outright date when it will be certain whether or not Vario will be buying us out? I’m eyeing up reinvestment plans already but don’t want to jump ship too early. EUA looking pretty hot for gains over the next 12months!
Does the GM vote need to occur before the 28 days are up? Either way I'd expect some communication this week as to the timeline for everything to occur.
£500m-£600m company selling for £250m surely another bid is likely but would need announcing next week. £25/sh ++ counter offer would be nice to see! Big week next week.
Why is it taking so long to get the Scheme Document issued ?
Given they entered into an agreement on 29/2/20, you would have thought the 'paperwork' would be virtually ready to go.
Are Viaro anticipating another deal announcement before the 28 days are up ....