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Official - Kemexon up to 23.68%, crossing threshold on 06/11.
Replaces the previous TR-1 of 08/11 - don't see immediately what has changed.
Ocelot, You've been calling this move for sometime. Do you think Angus is a little cheap or are there so many shares, it will take a long time before this starts to move?
Yes it does look like the replacement for RNS.
There were those who got upset about it.
Patrick7,
Think the stock continues to adjust to the change of management and of management style.
With time, believe RH's professionalism and undemonstrative approach will attract renewed interest in the stock.
Don't know when this will occur but it could be any time.
News on re-financing should help, as would an opening of perspectives beyond Saltfleetby.
The original RNS had the wrong name in section 3 of the TR1
Well spotted, DaveysShares. Ludwig Bricout will be of the controlling family.
There is definitely some interesting activity going on behind the scenes here. I agree with those who are suggesting that this is the influence of RH gradually coming to the fore. After all he has some pretty serious financial and O&G connections in place from his previous roles at BP etc and he must have had some plans on how to exploit them when he first came to Angus.
Also, we can't forget the fact that when Herbert arrived at Angus Energy alongside the investment cash it was effectively a takeover of the company from the previous board. It has all been done in a very friendly way but it is also totally ruthless. He must have done this for a reason and have plans in place for what he was going to do next.
In my opinion, the arrival of this new shareholders is just a prelude to a completely new change to Angus. Whether this will be for better or worse for us shareholders remains to be seen, but these players would not be putting this level of money in if they did not expect the share price to go up from here so overall it has got to be a good thing.
""There is definitely some interesting activity going on behind the scenes here""
Ehhhh,, interesting ?? please explain !!
Behind the scenes !! most things that result in disappointment for RETAIL goes on behind the scenes, result being the big guns get richer and retail fund it !!
Livelier volume, 29.0m shares before any late reported deals (if any).
Late trade, day's volume up to 32.3m.
Gezzzz wake me up when you see maybe 2-300m trading, today was about 0.75% of stock in issue, yes less than 1% !!!
42.32% of shares are in the hands of the significant shareholders, so the float is 57.68% or about 2,397m shares.
Today's volume of 32.3m = 1.35% of the float.
Ocelot,
wangling the numbers does not make it less in issue, it matters not who holds them, 99% of the time you will never know if the large holders are flipping some or not, they are not in it for stock status symbol, they are in it for the money, only difference is they have first dibs every time.
Bubblepoint,
Nothing to do with wangling, perfectly normal way to look at trading volume.
Why do investors calculate the float?
Why would one look at the total number of shares in issue when one knows a good percentage are not available to be traded?
The ONLY stock that is truly unavailable for trading is the locked in stock, anything else is not, it matters not who holds them.
In theory, you are right. But, in reality, a lot of stock is held in firm hands and not available for trading.
The quickest way to calculate the float is to look at the stock held by significant shareholders. It's not perfect but it does provide one with something with which to work, so it's what investors do.
Ocelot,
How many times over the years do you see a TR1 come out for a reduced holding, a month after the deed is done, They are not safe hands they hold mostly wholesale stock that mostly facilitated placings at a discount etc, and will palm them off into retail as and when they see fit.
Bubblepoint,
You calculate % turnover on the basis of total issued capital, I will continue to calculate it on the basis of the float.
That way we are both happy.
The cheerleaders used to try to assure everyone that PF was a "safe pair of hands "... because he was "an insider with knowledge of the real value of Saltfleetby"...
...right up until he started to flog off hundreds of millions of shares.
Nobody assured anyone that PF was a safe pair of hands. He was they guy who owned Saltfleetby and then he sold it. I am sure if he could have got 100% cash for it then he would have been delighted. However, Angus could not pay cash to he had to take shares.
Once he had handed over control of Saltfleetby to Angus he was always going to sell out of his position at the best prices that he could get. Anybody who thought that he would just sit and hold the money is incredibly naive. He is only on the board because he is a large shareholder. Once he ceases to be this he will cease to be on the board. I am quite impressed that Forum still hold as many as they do now to be honest.
""Once he had handed over control of Saltfleetby to Angus he was always going to sell out of his position at the best prices that he could get. Anybody who thought that he would just sit and hold the money is incredibly naive.""
Ehhh, well, if PF believed that Angus and SLBY were going to add significant value to the MC/SP long term, like 3-4-5 fold, then he would have been stupid to sell anything, simply sit on his fat wad of what would be cheap shares and wait. He didn't, he clearly wanted funds and hit the selling button hard, regardless of if he needed money fast or not, that is what he did. and it can be seen as damaging, simply because it shows some lack of confidence.
Each to their own and all that jazz, but PF offloading a fat chunk at up to 3 to 4 times todays price has paid handsomely for him, and proved that decision correct.
Of course it was damaging to the share price. He sold into any significant news as the price went up and stopped any forward momentum with it. His sales are a contributing factor to why the share price is where it is nowadays. All I am saying is that it should not surprise anyone that he did this. Paul Forest was always going to act in the best interest of Paul Forest and however confident he was in the projects, and we will never know how confident he actually was, he was always going to see a chunk of the stake early to protect him against things going wrong with the share price later. It's simple hedging, not in the best interests of the wider shareholding community, but definitely in the best interest of PF himself. As you accurately say, events proved his decision correct.
Mr Forrest is an interesting player in the Angus game.
He did the deal of the Century selling when he did.
After all he would have half the £9 million Bridge liabilities hanging over his head and half the £7.5 million still owing on the senior credit and half the £9 million essential costs for 2024. All to be paid for from a field that’s depleting so fast the will hit the highly significant 17.5 barg point at any time. The solution to this problem is only due for installation in October next year…..o and for good measure palmed off the £8 million d-comm cost on the 8 mile pipeline onto Angus.
Instead he is owed £5.2 million payable by early 2025 I believe. Not as good a deal as Mercuria got (but literally that turned out to be the worst in uk onshore history) but pretty spectacular!
If he, Knowe or Aleph decide to sell it’s going to drop to Ukog prices. I’m guessing he is more concerned about the £5.2 million he is owed at present. Dropping the price by selling probably isn’t in his interests.
Funny how 1 single compression package listed in the CPR actually now costs more than the whole than the original cost of the Saltfleetby upgrade like we were told £2.6 million. It’s not like mr Forrest wouldn’t have known that cost was laughable. More going on here than any mere PI has information on.
The plot thickens!!
https://www.ofgem.gov.uk/search?keyword=kemexon
Courtesy of Kansas.