Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Could there be a link to OpenBet...? As in, if IMG had picked up Leap with pocket change, would it have set a precedent which meant OpenBet could push for $2bn instead of $1.2bn, using comparable metrics? Or perhaps, when looking at the DCFs in order to value OpenBet, it was beneficial for Leap to NOT be within the Endeavour family, as it would show a greater profitability of the OpenBet acquisition and therefore a higher price?? Easier to get the big deals done first, then spend the pocket change? I don't know. I feel like something's going on, but it seems to defy logic.
50% increase in NAV that is. I'm hoping for 12-14p share price
It is an odd situation, IMG have been with Leap for over three years. It would literally be pocket change to buy Leap. If Ed can be believed (L@L) then at this point in the process of an IPO it would already have cost a company a couple hundred K at this pre IPO stage. Like most of us already knew most are waiting for Leap to give value, until then it wont get much better than this. I've topped up and really do believe this will give 50% gain from here, I also would be surprised to see it drift lower until Leap news.
Reefles, point taken. However, what I dont get about the scenario is why its taken so long to get it sold to IMG. It cant be that complex a transaction and as i said its peanuts to the likes of IMG. I guess we'll find out when it happens.
well the sale best come quick then cos this could hit 6p quicker than most think.
Troll, I mean this as "agreement", not to be patronising... but I think every single one of us on here believe Ed's IPO rumblings are a means to expedite a sale to IMG.
(Barwick - I think your point to 888 about Ed might be... the same point as 888 was making?? Maybe not. Most of this week, when looking at the share trades, I have felt like I have NO IDEA what is happening. What is happening?! Answers on a postcard, please.)
So Ed being in at the start of Emmac but knew nothing at the end, yea right :-)
I didn't know anything about the Portage Raise and I sold all my Portage Shares at 40 dollars too.
EMMACS shareholders as a collective made the decision to sell EMMAC not Ed McDermott on his own.
FFWD were minority holders at approx 2.5%
I personally think talk by Ed of an IPO may be him trying to force IMG/Endeavor to make a move and buy leap outright. It just doesnt make sense for a large comp like IMG to allow competitors to get the same/similar access to content they use. And with their budget £50m even 75M is pocket change.
So your saying in Ed’s position with Emmac and Seed he knew nothing about the pending sale of Emmac within days of that presentation , you will be saying next that Ed knew nothing about the Portage raise and it was his good judgement Seed sold at 40 dollars a share, pity seed didn’t guess the other two sales of Portage so well, don’t you think 888
Does anyone have any insight about the corporate structure, e.g. is it technically Fralis / Leap that would be sold, and are there drag-along / tag-along clauses that would be triggered by a 66% holding....??? (As in, can IMG force a 100% buy-out of Leap, if SEED agree to sell them the 44%?)
That's a good argument ICB. Certainly an attractive option for sooner rather than later.
There is talk on here that you could leave SEED for 3 months and still buy back in before the LEAP IPO which will transform the NAV of the company and the sp.
However there has been discussion today about Endeavor/Leap due to the purchase announced today by Endeavor of Openbet which will compliment its ownership of IMG Arena. We all know that IMG is the second largest shareholder in Leap(22%) after SEED (44%). LEAP is promoted by Endeavor/IMG as being a key partner.
It has always seemed highly likely that IMG would want to acquire Leap. If that is their intention you would imagine they will make their move before the full IPO process starts. We know preliminary work has been going on for sometime which would also be work that needs doing for a sale.
I would therefore suggest that an announcement about the sale of Leap or the sale of SEED’s shares in Leap to IMG could be announced at anytime. So if you think you have months to wait you may be taking a big risk if you are out. Just recall earlier this year when Ed was talking in an interview about an IPO for EMMAC and within days they announced a sale.