Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Hi Del, It's an Alternative Market called ICAP. I only use Hargreaves Lansdown and quite often their Market Makers will place a deal through them. I've noticed quite often that you may get a slightly better price than on LSE. I have deals for PREZZO, and SEPURA which have gone through ICAP. Quite often on here on different stock pages you hear someone has bought or sold a Stock and they claim it hasn't gone through, but often they are unaware of this untill they get their Contract Note. ____Have a good weekend Mate.
What market is that Chan? Its not through LSE?
Nice few Trades gone through on http://www.isdx.com/forcompanies/ourcompanies/companydetail/Trade.aspx?securityid=10391 today.
I have too today, gone through the ISDX Secondary Market with a few other trades.
As of 1115 today my broker offering sell FTO at 8.95 and buy at 8.89 so the 8.51 sale unrepresentative.
EDC provides USD 250 M in financing to China Gas Holdings to help grow their Canadian supply Thursday 29th August, 2013 China's largest natural gas suppliers. The financing agreement will facilitate CGH's planned procurement from its long-standing Canadian supplier, B.C.- based IMW, a wholly-owned subsidiary of Clean Energy Fuels Corporation. EDC's Senior Vice-President and Global Head of Financing and Investments, The CNG is a big potential revenue stream that CGH is now targeting in a big way... http://finance.yahoo.com/news/clean-energy-imw-subsidiary-supply-183800548.html
Will buy a copy this weekend...but normally IC is the kiss of death for FTO, when it comes to its reporting and articles...:) Plus their reporting skills are woeful, when it comes to accuracy of content. So, on second thoughts, perhaps I will just read it off the news stand...:)
Fortune favours the brave Does anyone have access to IC? Is there any more hidden behind the paywall? http://www.investorschronicle.co.uk/2013/08/28/shares/news-and-analysis/fortune-favours-the-brave-cuEAhHNMYewB1OylW9wuvJ/article.html Fortune Oil (FTO) announced a special dividend of 2.36p a share at the half-year stage, as total revenues (including jointly controlled entities) moved up by 10 per cent, but the market is still ascribing no value to Fortune's ongoing business. By Mark Robinson, 28 August 2013
in for a penny and all that....Trigger finger working again. My little top up isn't showing up but is of little consequence as it sure ain't going to move the sp. A lot going of restructuring going on so hopefully good things in the near future...
Not presently, no... Mainly because under the terms of the sale of the gas asset, there is an unknown variable...namely the average sp of CGH shares in November/December.... This is the related paragraph dealing with conversion of shares..... Under the Deferred Consideration, the Company may elect to request China Gas to replace its entitlement to Deferred Consideration in a maximum number of 250,000,000 shares in China Gas, based on a benchmark share price (the "Benchmark Price") referenced to the average China Gas share price for the 30 consecutive trading days prior to the request made by the Company between 1 November 2013 and 31 December 2013. The issue of China Gas shares under the Deferred Consideration is subject to approval of the China Gas board and the listing permission from the Hong Kong Stock Exchange. So we just don't know what that will be presently.....but I think it will be a lot higher then it is now...:)
Thanks again Del44 You have made things a lot clearer I am a chemical engineer by training. I am much happier with pipes, tanks and cubic meters per day Are you able to clarify how much of CGH we (FTO) will own when all is done and dusted?
I am with dell it is not dilution as the assets per share are rising
Wilmar want cash....So they sold their 15% of gas asset to First Marvel Ltd..Price $60 million... First Marvel Ltd is owned by Daniel Chieu and Vitol Energy (55%-45%) both founding members of FTO. The JV between the 2 is called Fortune Dynasty Holdings Ltd. THEY AND NOT FTO ARE PAYING THE CASH FOR WILMAR'S 15%.... FTO in return are issuing new shares to buy that 15% stake from Fortune Dynasty Holding, so that FTO will end up receiving all the consideration for the gas asset sale. Which is $200 million cash...and another $200 million in possibly shares... Importantly for FTO..it secures our chances of receiving more shares in CGH, that would have gone to Wilmar,who most likely would have sold them in the market for someone else to buy... We are receiving proper assets for the issuing of shares and I am not bothered by any talk of dilution... FTO benefit from this in my view.. If the "City" doesn't understand this...then it clearly explains a lot about the city that many people outside the investment community already knew..
Del, I do appreciate your comments, but it is all to complicated for me. Who owns who and how much? I think this is what is spooking the market. I knew where we were when I was simply worried about the CBM project and how the expansion into airline fuel was progressing
Chris you may be missing something here..Wilmar are not getting FTO shares. They are selling out for cash... Wilmar entered into an agreement with First Marvel Investment Limited ("First Marvel"), effective as of 23 July 2013, pursuant to which, for cash consideration of US$60 million, First Marvel agreed to accept all the rights and benefits and to perform and discharge all liabilities and obligations of Wilmar under the Fortune Gas Sale Agreement (to the extent relating to the period after completion of such agreement). First Marvel is a wholly-owned subsidiary of Fortune Dynasty Holdings Limited ("FDH"). FDH is a joint venture company owned 55 per cent. by First Level Holdings Limited, a company controlled by Daniel Chiu, executive vice chairman and a director of the Company, and 45 per cent. by Vitol Energy (Bermuda) Limited, a member of the Vitol Group of companies of which Ian Taylor, a non-executive director of the Company, is president and chief executive officer. What we get in return is $30 million in cash in first tranche and another $30 million in shares (perhaps) in the 2sd installment around December. So it allows us to get more shares in CGH and help get to "associate Status". The above 2 have put their cash in where it counts.... A good move I think..
Thank you del , Does this in your opinion mean that if this is allowed , that the Concert group will maybe buy more to reduce the free float . If I was of a machiavellian nature , then I would be wondering if a broker had been buying up shares on their behalf , as when we lost our free listing , shares were sold from institutional investors , ready to sell on at the concert group without increasing the price too much . Thoughts please .
Daniel Chiu, Dennis Chiu, First Level Holdings Limited, FDH and Vitol Energy (Bermuda) Limited are deemed to be acting in concert in relation to the Company (the "Concert Party"). The members of the Concert Party are currently interested in an aggregate of 872,744,117 Ordinary Shares, representing approximately 43.9 per cent. of the voting rights of the Company. The issue of new Ordinary Shares to FDH pursuant to the Proposed Acquisition and the Loan Settlement would normally result in an obligation on the Concert Party to make a general offer for the Company, pursuant to Rule 9 of the Takeover Code. If the Panel agrees to the Rule 9 Waiver and if the Rule 9 Waiver resolution is passed by independent shareholders in general meeting, following the issue of Ordinary Shares in connection with the Proposed Acquisition and the Loan Settlement, the Concert Party will control approximately 56.9 per cent. of the Ordinary Shares and hence will have the ability to increase its interests in the issued share capital of the Company without having to make a general offer for the Company under Rule 9 of the Takeover Code. In addition, Daniel Chiu and First Level Holdings Limited will control approximately 51.2 per cent. of the Ordinary Shares following the issue of Ordinary Shares in connection with the Proposed Acquisition and the Loan Settlement and will be free to increase their interests in the issued share capital of the Company without incurring an obligation to make a general offer for the Company under Rule 9 of the Takeover Code. Other members of the Concert Party will individually continue to be subject to obligations under Rule 9 of the Takeover Code unless the Panel consents to waive those obligations in accordance with Note 4 to Rule 9.1 of the Takeover Code.
When the extra shares are issued , taking us up to 2.5 billion shares , who will own what percentage ?
I would hope the takeover panel in the UK would be speedier then MOFCOM over in China...:)...LOL
Closer ties are now been formed with BEHL... http://www.noodls.com/viewNoodl/19827217/behl---beijing-enterprises-holdings-ltd/strategic-co-operation-framework-agreement-with-china-gas
We live in hope..... Regardless of the current sp, the company is taking some very big strides in China.
just what I needed thanks. I hope its not too long for special divi, knowing this share it will end up taking another nose dive after good news and ill have to hold onto them even longer.