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With the AGM tomorrow maybe we will also get a 7am RNS re the sell of the Management Division.
Potentially they may want to keep the two separate and announce it afterwards, especially if there are still a few loose ends to tie up.
Either way i think we are close.
Shandy, I admire your optimism and it is tempting to think that the AGM and a deal might be linked somehow.
But Eenergy won't be able to hold that type of information back and would have to RNS it immediately.
I don't think there'll be much happens with the AGM - there rarely is - other than a few optimistic shareholders selling off afterwards after realising no deal is announced.
Still confident that this deal will go through - and the recent huge increase in volume indicates something is going on - unless this is Luceco cashing in on their 5p shares .
Never mind, it was a nice timeframe to work to. It wasn't a case of linking it with the AGM, but merely using this date to announce something big. No doubt at the Q and As today almost every question will be on the potential sale so they will want to say something.
It's also not a case of holding back info, more a case of speeding it up, as for example drafting, reviewing and signing the final contract can take up to a month. So everything can be agreed but until the wet signatures are added, no deal formally exists.
Anyway, still think a deal is very likely - this side of Christmas is my next target
I agree.
I would imagine they absolutely don't want this to trip into the New Year, so I reckon it will be a busy weekend for the lawyers and I hang my hat on a Monday RNS.
Nothing said at the AGM?
An RNS simply says all resolutions passed, but I don’t recall what they even were.
"All Resolutions Passed"
From someone probably longer in the tooth with Share dealing, that's all that these days usually impart.
Nothing to see other than anodyne bureaucratic tick boxing.
You are simply not allowed to store up price sensitive news for agms
Price ticking up nicely - could there be a pre weekend rush as per last Friday?
Re-read the RNS re the sell. Says negotiations are at an advanced stage and also explains how/where funds will be re-invested. A massive positive for me. I did top up considerably in the low 5's , however, have bit the bullet and just bought another 100k shares. Someone earlier today bought 250k so they are clearly also quite confident.
Company is currently valued at £25m - just too low IMHO. 10p would value this at £38.7m which still seems low if we are ready to sell a division for over £30m
Where does it say this in RNS? Can't see it
I agree, but something makes me think this will bounce into the New Year now. I am sure eEnergy will be keen to get a deal over the line but the buyer is likely to be a large corporate, and as such I suspect key resources maybe going offline for the festive season, if not already. I am still very positive on this stock however, for all the reasons you cite.
Here's an excerpt from the Nov RNS. Says discussions at an advanced stage and then further down CEO states it is a short period of exclusivity. Also notice it is a cash offer, so nice and clean, no shares etc. Also states money to be re-invested in the fast growing service division.
The Board engaged professional advisers to conduct a strategic review of the Division, following which the Board received a number of indicative cash offers which valued the Division in excess of £30 million. The Board has now entered into a period of exclusivity with one of the interested parties.
The Board intend to re-invest proceeds from any sale of the Division to ensure the Company and its subsidiaries ("Group") have the appropriate financial resources to capitalise on the substantial growth potential within its Energy Services division.
While discussions are at an advanced stage, there is no guarantee they will lead to a transaction or as to the final terms of any such transaction.
"As discussed at our Interim Results, we continue to position the Group to be able to win new larger mandates and optimise financing solutions. Following a number of inbound enquiries earlier in the year we have appointed an independent adviser and entered into a short period of exclusivity with one of the parties which has expressed interest in acquiring our Energy Management division. We will update shareholders on this process as appropriate."