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Are squeezing the price down to tease out sellers and presumably pick up shares.
It's already undervalued on so many fronts and all will all be irrelevant if they hit a nice payload.
Don't tell me are going to see the 7s again. Remarkable given we have just commenced drilling and have plenty of newsflow to look forward to over the coming months.
Remember, only last month Askar added circa 18,000,000 shares, taking his holding to 7.17% be very surprised if next RNS, upping his holding at these prices, is not forthcoming.
aimo & dyor
Askar has always be late on RNS holdings notification, way beyond the legally required timeframe.
I remember some weeks ago we had a reported 40 Million buy, although we only got the last RNS for 18 Million, so assuming that this also has still to be disclosed? Or indeed is part of the said buy and further update still to be announced.
I think the 41m was bought up by a consortium of buyers of which AA was one, the 18m he bought has been declared, the other 23m probably doesn't need to be as won't have pushed the buyers over the tr1s threshold
Drill is doing its thing.... Big question is now when will Chariot RNs results...it could be earliest asap after 1st drill or latest after both drills complete and results assessed, thoughts??
Hi Jagua, any initial well results are material sensitive news, i would have thought.
If you wanted to take over Chariot on the cheap, would it not be worth first selling a shed load of shares to drive down sentiment and soften up Pi’s for a low-ball offer? Could the ‘consortium’ coordinate such a fiendish plan?
Snotty - Well I think that is what I suggested a couple of weeks ago may be going on. Something is going on !!
Snott,
This is AIM remember.
I expressed my thoughts on who the ‘consortium’ maybe a few weeks ago, but yes, a T/O with such a lot to offer in terms of both off and onshore plays and a respected partner too has to be in the running now, esp after we have already had an approach that was rebuffed.
aimo & dyor
Remember SP was circa 15-16 pence at time of dec RNS re ENOG partnership.. just how much was offered i wonder, which it seems was rebutted by the board without even putting to shareholders !
I can't understand why the board would not even mention the bid price to the shareholders? Also, the list of big shareholders now tops 60% (60.87) - does anyone happen to know if this number is bigger than the last update from 31st Dec?
Thebold - seen it all b4. BOD can say what they want. The cleaner could have offered 2p a share and AP wouldn't be lying to say there was an offer he turned down. There may have been or may not have been, but AP knows more than he is letting on. He controls about 9% and he could be part of a consortium bid when various others have picked up enough, hoping to go for a buy-out at
.... buy-out at .... less than 25p. More chance of success than when the sp was 20p
Gardie, where do you get your 60.87% from ??
Ianfer,
Exactamundo ... although I also think the approach was real and this is what spurred things along.
atb
aimo & dyor
Don’t believe AP is behind that, as CEO he has duty of care to protect SP and shareholders ( yes I know laughable on AIM) however if it were proven he was a part of a consortia looking for a low ball TO of Chariot and it was in that consortia’s best interest to drive SP down to enable this, then he would have a class lawsuit on him pretty quickly I would imagine.
If there is a consortium, presumably they would want to know the outcome of the Loukos drilling which will likely have an impact on the value of the company. Would they also want to wait for Anchois drilling and FID?
LW,
Wait for Loukos, most definitely as for Anchois not a chance, a move will be made before.
For circa £250m (~25p/s) the sum of the part will far outweigh the t/o price imo.
aimo & dyor
Our CEO won't sell out for 25p per share. No chance.
Ianfer, I just added up the list of 'significant shareholders' from the CHAR website
Gardie - Hargreaves and Interactive etc will be a combination of those many investors using their services so does not tell us much
Kiss n' - The CEO wouldn't have to sell out if he was part of a management buy-out
Exactamundo part two !
Now think about the 'structure' of the Anchois and timing of the Loukos award/placing in the context of a buyout. Nothing to add other than the way our SP has been managed since the deal is weird and speaks for itself imo.
aimo & dyor