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Best of luck, Stuartv.
Thanks, George! Please come and run AMER if they takeover there fails (as I hope it will).
Cue, Nina Simone: “it’s a new dawn, it’s a new day, it’s a new liiiife...”
Good bye to all on the ELA board. I have enjoyed the insights and the banter. Just sold out today so that’s me done. Good luck to all with your other investments. Thankyou George and the team at Eland you’ve been good to me.
It has all gone a bit quiet, so I’m assuming the Elcrest issue has gone away. Fat lady sings a week on Tuesday (17th). Well done to the many profit-makers. I wish I’d got in a bit earlier!
With this and AMER (angry grrrrr!) closing out imminently I’m looking for new homes for a decent chunk of change: should keep me busy on cold, dark nights...
I sold at 164 after collecting dividend.
Won't be very happy if this deal doesn't go through, as I wolds of held.
Made a nice profit, but feel there is more to be made if this deal doesn't go through.
Good luck to all still holding
Totally agree with you Caution. Always pleased with a profit as I have been with Eland for a few years. But totally relaxed if the deal fell through. Bearing in mind the potential going forward I think at £1.66 it is undervalued. Here’s hoping. GLA
Thank you, Ross. This is clearly highly significant. Personally, I wouldn't be very upset if the deal didn't go through and we just went back to the the pre-bid operational situation. Sadly, once the cat is out of the bag on these things, that hardly ever happens.
Thanks, jansonb. I’m very surprised if the Elcrest RNS has affected the price. I’d buy some myself if it wasn’t tied up in other things (AMER and PDL for instance!): this looks like an easy few percent profit.
The shorts are having a field day; now a lot of buys coming in. Just topped up
Thu, 14th Nov 2019 07:00
RNS Number : 3954T
Eland Oil & Gas PLC
14 November 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
14 November 2019
ELAND OIL & GAS PLC ("ELAND")
STATEMENT IN RELATION TO ELCREST
Eland notes an announcement stated to be issued on behalf of Starcrest Nigeria Energy Limited ("Starcrest") in relation to Eland's joint venture company Elcrest Exploration and Production Nigeria Limited ("Elcrest") and the offer for Eland by Seplat Petroleum Development Company Plc ("Seplat").
As set out in the Scheme Document issued on 28 October 2019 (the "Scheme Document"), Eland owns 45 per cent. of the shares of Elcrest and Elcrest is consolidated into the audited final results and unaudited interim results of the Eland Group because it is controlled by Eland. The basis for this is set out in the Scheme Document and Eland's 2018 Annual Report.
Eland is satisfied that the description of Elcrest and its 45 per cent. equity stake in OML 40 set out in the Scheme Document is in accordance with the facts and does not omit anything likely to affect the import of such information.
Eland and Seplat continue to expect that the Scheme will become effective on 17 December 2019.
166p recommended offer and suddenly we’re back at 155p. What’s going on? Is there doubt over the deal suddenly?
I’m genuinely confused...
Sold today at 163 - prefer to get my cash working again. Cybertech companies looking interetsing. Help ISPY for some time now and growing nicely but a number of dedicated US firms look attractively low priced, e.g. Crowdstrike. If Brexit deal comes off I think UK mid-caps will do well with strengthening of pound and overall climate for investment and trade. Lloyds and RBS already made big gains.
Hi Gus not sure if you already hold but I am putting my faith in LEK. Still a couple of loose ends to tie up but if they come together it will fly. See a similar situation as experienced by Eland 3 years ago. Could be wrong but if I am right lots of money to be made. WD -40. like your good self hopefully a smooth transition. Seeing all the sells making me nervous that I need to do something. Company sale completely new territory for me. GLA
I'm buying Bae systems next. I'm just waiting for them to drop in price some more.
Might buy ABF.
Are you still holding eland? I'm really hoping this will just be sorted smoothly (without any action from myself)
So a good run comes to an end. Leaves me with one question: What should my next buy be? Whilst I shall put some into a safe fund, I shall want to find another high-gain ladder to jump onto. Any suggestions for consideration?
Good bye and good luck to you Hughes. Never know our paths may cross again on one of the other bb’s
Been great fun knowing you all on the Eland chat. Hope to see some of you soon on other chat pages. Sold out yesterday for the last time over many years. Actually have tears in my eyes to see Eland being taken over. Good luck to you all and happy future dealings
Much appreciated gozain I had a similar question buzzing around in my head. You’ve kindly answered. Take care and good luck.
The will eventually disappear from your portfolio and cash will be in when the takeover completes. I would recommend not selling before 18/10/19 as all shareholders still holding by that date are entitled to a 1p per share dividend. In my case, I will just leave until I get the full 166p plus the dividend. Not in a rush to cash out.
What's with all the automated trades?
What happens if I don't sell my shares?
It says in the post in the share news that anyone holding at the close of 18th October will get the dividend.
Just a quick question. If I just leave my shares in my HL account. What will happen to them?
Will I just get the cash equivalent I. E. 166p per share?
Would I get charged a transaction fee from eland or HL themselves... As I would be charged to sell usually.
Shame this was taken out, but with the constant threat of the NDA and falling oil prices, maybe not such a bad outcome. Purchased shares here (and held) at 28p and then topped up in the 30's, 40's and 80's, so a decent payout awaits. Also, this has been one of the most respectful BB's I have visited with knowledgeable posters (without being arrogant) sharing good information in all situations, for novice shareholders like myself. And course thanks to George and all the ELA team for delivering what they promised, growth, dividends and performance.
As I am a novice investor, and without wishing to look greedy - are we still getting the dividend at the end of the month?
Good luck to all shareholders in future investments
Very helpful, thanks v much. Seems sensible to hold, except Lloyds and RBS looking very attractive in case of Brexit deal .... cash would be handy to buy in now! :) Either way, having bought in at 60p, even having sold twice in last year for cash, I am well up. Can't complain.
Quoted from share cast news;
'It said that under the terms of the acquisition, each Eland shareholder would be entitled to receive 166p in cash for each Eland share'.
Does this mean I could buy more at say 163.8p and be guaranteed to get 166p per share in return?
My advice is hold, you will be entitled to the 1p divi a5 the end of the month, you are guaranteed £1.66 by the Seplat offer, as per Rns this will be sorted by end 2019, they will convert all your shares into cash, then deposit the amount in your account. Eland as a company will cease, all agreements rights and licenses will be owned by Seplat, I’m not too sure when the d day is or what happens to the cash amount profit that eland has already made, does it not get divided up in favour of us shareholders I don’t know, hope this helps. Kind regards H.