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reasons? TY
40m buy among others after the bell - is the consortium going hostile?
Looks like good riddance to Longriver for the time being , hopefully they will find a different target to waste their time persuing , upping the offer to £23 would be just another waste of time . What bothers me is how such plonkers manage to get jobs working in investment companies in the first place , perhaps there is yet hope for an old duffer like me , I could have saved them the bother of this useless excercise had they asked my opinion in the first place but there again people do not normally listen much to my advice .
Big money Buys after the bell suggest the deal WILL be done.
£23 will do the business if there are enough willing sellers but I doubt that there are . I would prefer it if Longriver do walk away , the shares drop back to the long term trend and I can buy some more then in a matter of a few months or perhaps a year or two another Longriver will come along , these bidders are ten a penny but the number of suitable bid targets are rapidly diminishing , SVT will eventually hit £50 with or without a bidder so why sell them at £23 now ?
I think not, IMO a price of £23 will do the business. Naturally you should be holding the other 2 Water cards, and I too have a bias towards UU, as the next contender.
Over a decade ago when I bought SVT a 300% increase was not anticipated but thats what happened so its not unreasonable to expect a share price of £50 within the next decade and a dividend of £2.50 a share . This is the projection that Longriver are making but they want it for themselves quite naturally so they will do the company down as much as possible just like when someone is buying a second hand car kicking the tyres and telling the hapless owner its a heap of scrap but they just happen to want to buy it for some reason .
I have a few thousand shares in Utd Utils. I wish I had these.....!! With increasing competition, separation of retail and wholesale businesses, growing debt etc, I would offload at this price like a shot. No way will £30 be achieved, let alone the £50 mentioned in other posts. Hope that for those of you holding & continuing to hold, I'm wrong. Good luck.
...."so I could castigate them"..........Sounds painful!! Don't sit on the fence M8, tell us what you really think. Take out the div and it's only just over £21.50. If it has to go then I'm with you on holding out for £30 - would be very nice indeed considering I've been here since privatisation. Though would rather keep it in my portfolio for the yield.
Longriver Partners can go and drown themselves are they idiots ? I cannot see any point in them making an offer at £22 when they know they are just wasting their time which I dont care about but I do care that they are wasting the time and money of the shareholders of SVT who have to waste time fending off this stupid offer . Why dont these idiots just come up with an offer of £30 and then see if enough people are interested , I wish I could be in negotiation with Longriver so I could castigate them .
Well done to all here - not me! LONGRIVER PARTNERS PRE-CONDITIONAL CASH OFFER OF 2,200 PENCE PER SHARE FOR SEVERN TRENT PLC ("SEVERN TRENT" OR THE "COMPANY") Further to their announcement on 3 June 2013, Borealis Infrastructure Management Inc. ("Borealis"), Kuwait Investment Office ("KIO") and USS Limited ("USS") (together, "LongRiver" or the "Consortium") announce that they have today submitted to the board of directors of Severn Trent (the "Severn Trent Board") a pre-conditional cash offer, which they consider to be full and fair, for the entire issued and to be issued share capital of Severn Trent of 2,200 pence for each Severn Trent share (the "Pre-conditional Offer"). The Pre-conditional Offer is inclusive of the final dividend of 45.51 pence per Severn Trent share proposed by the Severn Trent Board on 30 May 2013. The Pre-conditional Offer values Severn Trent's fully diluted share capital at approximately GBP5.3 billion and would provide Severn Trent shareholders with an opportunity to realise certain value in cash for their shares at a compelling price, which: -- implies a premium of 41 per cent. to Severn Trent's Regulatory Capital Value ("RCV") of GBP7.4 billion as at 31 March 2013 using the fair market value of Severn Trent's debt; -- implies a premium of 31 per cent. to Severn Trent's RCV of GBP7.4 billion as at 31 March 2013, using the book value of Severn Trent's debt; -- represents a premium of 34 per cent. to the average closing price of a Severn Trent share for the six months to 13 May 2013 (the last dealing day prior to the announcement by Severn Trent that it had received an approach from the Consortium); and -- represents a premium of 21 per cent. to the closing Severn Trent share price on 13 M
Severn Trent (SVT) reported a 3.4% increase in FY revenues, although there was no mention anywhere of developments with the bid consortium, while a trading update from DIY retail giant and B&Q owner Kingfisher (KGF) revealed that the effects of an early Easter and unseasonably cold weather across Europe had resulted in a -4.2% fall in like for like sales
http://www.investegate.co.uk/royal-bank-of-canada--88db-/rns/form-8-5--ept-ri-/201305240850505249F/
I see June 11th posted as the deadline for a takeover bid? Is this a deadline or when the next bid is expected? Many thanks.
I bought SVT at £7 because they appeared to offer good growth potential and steadily increasing dividends . When I bought them they were being tipped as potential takeover targets so the shares have lived with this hanging over them for many years so in my opinion this steady state takeover threat should be discounted when trying to evaluate based on what you think future growth and dividends might be . I will be voting against a takeover , the pension funds etc can go and stick their £23 up their respective back passages I want a proper price , I expect if they do succeed its more likely to be £30 + than £23 + . I would not be happy with a £30+ offer but being pragmatic thats the level that might succeed . I am hoping no offer will be made and no doubt the price will drop back as it has many times before because we are running out of companies like this that the ordinary person can invest for safe income and growth . Long term 8 to 10 years its not unreasonable to see SVT at £40 to £50 and paying out a high dividend perhaps £2.5 , this is why the pension funds want this company but its the same reason long term holders should say no to a takeover . And even if you are a short term trader you should still vote against it because if it goes you have one less opportunity to trade the ups and downs .
Not exactly. More like a shot across the bows. Do YOU ever make your best offer first?? This is 'Not at this price'. Blue Gold has lots of fans and would be suitors.
this like it shot up on speculation is going to drop even quicker today..!!
Wish they would be more specific.
You may well be correct. I just felt that upside is £ 2 per share and downside £ 3-4/share so decided 'play safe' this time. Let's see if tomorrow I can buy in much under £20.80
Might have been worth waiting until June 11th to see the result of this potential takeover, which if it happens will likely be in the region of £23+. ATB
Have sold my small holding. It's not often I make £6/share profit.....Might buy back if /when the frenzy dies down.
Positive Points: Accompanying management outlook comments highlighted trading which was in line with current full year expectations. Severn Trent is subject to occasional takeover speculation. The group's defensive nature provides investor attraction when set against an uncertain economic backdrop. In the present low interest rate environment, a progressive dividend policy currently yielding over 4% remains attractive.