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Voting down will certainly put down the share prices but that is only limited in time. We know now that the bottom line for the sp is 19p+. So it does not matter if it goes down in the short term after voting the deal down. If there is another deal to be made afterwards, then it will be above 20p. and if there are no other deals for a year or two, we would be even better off when we will be producing 20k bopd and export more through the OBA, not to mention the price of oil going well above current price in a year or 2 as the cycle for low price has reversed.
Hold your nerve and vote down the deal. That's is best option for the shareholders and I recommend to vote again the deal.
To my recollection (and I've been investing for decades) I've never seen so much anger and feeling of betrayal in any company that hasn't gone bankrupt.
Make them eat their words
We have been used. “Strongly advised not to sell” x2 so that BOD get a deal to maximise pps and include options. Should have sold in July and crashed the SP. let oxy pick up for nada
Take out the roughly £50 million amer has in the bank and Geo are getting Amer for less than £200 million!!!!
Complete stitch up. How does this deal affect Oxy though?? And their investment in drilling and Amer's carry??
I have been a holder for over 10 years and have 1.5m shares. Although bitterly disappointed at the final offer, if you vote it down the Board will resign and the shares will plummet. Ultimately the Board know more than any of us, and voting against them sounds clever but in my experience will wipe masses off the value of the company. I will reluctantly vote for the offer and would suggest others do the same.
So, I held for two years and look like breaking even? I don't even get my low ball 24p sell out price. A true dog to the bitter end. I'll vote yes and if possible sell for 19p in the market.
10% of 19.21p only takes this to 21.13p, how do you imagine this to fly to 55p so quickly?
My 3.6m shares vote against....
My friend’s 2.5m will too.
For me the BOD are playing a blinder - smoking the rabbit out of its hole ! all bids must now be 10% of the sale price - hostile bids can take this up from 45 to 55p easily !
400,000 says bring on the bidding war - this is just the start
249252 votes say NO NO NO to this offer
Had a few but 10% of 19.20 =21.12 x 10% (1) = 23.23 x 10% =25.55 (2) x 10%=28.11(3) x10%=30.9(4) x10%=34.9 (5) x 10%=38.38 (6) x10%=42.22x(7)10%=46.45x10%=51.09 (8)
52.09 sounds about right
Hi DWK, as previous post I'm in with 200,000 shares not a great deal but every little he!ps. Will basically do anything now that might frustrate and f**k the pile of ****e bod.
If this is voted down then BoD will as stated in the RNS -Accordingly, the Amerisur Directors intend unanimously to recommend that Amerisur Shareholders vote in favour of the resolutions relating to the Transaction at the Amerisur Shareholder Meetings (or in the event that the Transaction is implemented by Takeover Offer (with the consent of Amerisur), to accept or procure acceptance of such offer)…..so they will push it through
Any new offers must be at least 10% of the sale price ! so in a bidding war could the SP raise x 7 times 10% ?
Not to mention that their broker had a fair value of 37p per share a week before the FSP started.
I have 0.016% me and a pal.
Can we start a list with PI voting against this deal to see if we can get 15%?
The thing that most people forget is that the company does not need to be sold...yet.
The company produces oil and revenue. It has no debts. It is still expanding. It is still discovering. It is still increasing the pipeline transport capacity. It is still targeting 20k bopd by end of 2020.
So why should we accept a pity offer of 19.21p per share for the sakes of the BOD while we can refuse this deal and wait another year to sell the company for 50p or more per shares. If you want to sell your shares, just do it now in the open market.
I recommend all PI in their best interest not to accept this offer, which does not represent a fair and reasonable value of the company.
options were always going to be triggered...its in the takeover code....but like you..I feel absolutely gutted....fundamentals were sound in my opinion and to take a bid of 19.21p is outrages...but what i will be most angry about is when we get the circular explaining the deal in detail....which will no doubt have bod getting non- executive positions on the Geo BOD..today reminds me of EnCore deal...when Premier oil took them over...all Bod got non-executives jobs and pi s were shafted
That’s devastated and gutted in the same word.
My busiest day of the year and the board drop this pitiful recommendation on us. I’m only glad I was ignorant enough to think they might prove true value, in turn buying so many shares to have averaged down enough to make a small profit. My sympathies go out to those who are left with a loss and I hope they can recoup elsewhere. I was a bull through and through and I’m not naive enough to think that my minimal posting persuaded anyone to buy but I would like to state it was always with pure intent. Disappointed doesn’t scratch the surface.
Sold out because I got impatient however if I was in for 6 plus months I would be fighting this swindle very angry for small investors
If it's as bad as we all think it is , the counter offer will be upon us within days c, otherwise what do we know?
We valuer our investments via third fourth and fifth parties , brokers et al.
We know jack.
The thing that sticks in the throat is the advice that the 17.2p seriously undervalued the company , only to sell out for tuppence more.
Is that market manipulation of the highest order , or am I getting emotional?
This is either a terrible deal and the board haven't served in the shareholders best interests, or ....other parties (i.e. oxy) didn't respect the FSP and the board had to accept this bid in order to trigger Oxy and others into competing action.
Unfortunately, think its first one.
“Are you not surprised” and all that. They mugged the PIs