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No date yet for special divi..Clearance from Mergers Commission firstly, then general Meeting to follow... Link... http://www.lse.co.uk/share-regulatory-news.asp?shareprice=FTO&ArticleCode=hjea2hcb&ArticleHeadline=Proposed_Acquisition_and_Loan_Settlement Also half yearly report rounds it up... http://www.lse.co.uk/share-regulatory-news.asp?shareprice=FTO&ArticleCode=yfwqh50w&ArticleHeadline=Half_Yearly_Report
Hi, Does anyone know the proposed dates for the special divi? also is it possible to get a quick update on these. 2 week holiday for august and I lose touch with the world. Has a general meeting been arranged? full breakdown would help if possible. Thanks.
wrong board...
and could you refrain from posting 16 month old videos...
I need to average down but just cant get my finger too the buy button. Maybe next week. have a good weekend..
Hi Shatter, hope you are well. Yeah, a bit of nostalgia today. I've been in and out of FTO several times. Lost interest for a bit but bought a few some weeks back and topped up today. Like us all, I'm hoping things will pick up for Fortune. If the Dividend proposal goes through that will be a nice extra for Shareholders and I'm optimistic about the Stock. Have a good weekend Mate.
Market expectations for Chinese policymakers to relax restrictions on oil imports and allow trading of crude oil futures have been increasing, given that Chinese regulatory bodies recently granted a crude oil warehouse license to a private company in the city of Zhoushan in Zhejiang province. •Statistics show that in the first half of 2013, China issued crude oil warehouse licenses to a total of seven companies, two of which were private firms. Regulatory bodies’ continuous efforts to open up the domestic oil import market have not helped private firms that much, given that they still face many obstacles in entering the market monopolized by state-owned giants. Experts believe that the current market monopoly can hardly be broken up in the next few years. •Previous media reports said that China may allow more private refineries to import crude oil from overseas markets. The country is expected to increase its crude oil import quota by at least 10 million metric tons by 2014. Currently, China grants the majority of oil import quotas to state-owned oil companies while only allowing a few private firms to import foreign oil. Aug 23, 2013 4:37 PM GMT+0800• FTO's Website states _____China is the world second largest importer and consumer of crude oil. Fortune Oil first developed oil terminals in China over 14 years ago and remains one of the few international investors in onshore oil infrastructure. Currently the company operations include supplying jet fuel to most of the airports in south and central China and delivering 4% of China crude oil imports. The company is well positioned to benefit from the accelerated growth in energy imports and future liberalization of the China oil markets under the WTO agreements. Fingers crossed
Hi, it would seem that i was here in 2009 and bought some in and around the 6p mark, selling at just over the 8p mark. I was out until 2011 when i bought again! I now have a holding at 11.7p. ( bought some for the kids at 12.14p....oops). Its a very hard share to read and its a slow burner. One day...!!!!!
Just checking back, my first purchase of FTO was in October 2007 @ 7.04p. The year Shatter joined LSE. It's gone up and down ever since. Seems to return to 8p level often after hitting highs of 12 to 14p. Hoping we might see some rising momentum that will take the SP further up and settle higher than mentioned. GLA & DYOR.
I didn't check back on the posts but thought that would have been posted. No harm done anyhow. I did see the other post and she's 'sound' . Fill ya' boots I reckon!
Yeah and I noticed they kept the bid just shy of the 8.80p mark to hold back triggers...:)
I don't think there has been any concrete date for the payment of the special dividend as of yet... A general meeting has yet to be called, to vote on these proposals a long with the waiver from mergers commission...So no October date yet announced...
You were spot on about the 8.8p range. Completely bogged down here..
Reported that a while back alright.... Found this from another poster on Moneyam recently....makes for interesting reading and food for thought. Ruthbaby from a competitor BB... I am not sure what the next news flow is here..as the gas component is now gone. A regular poster on another board seems to think that the price above 8.80p on the bid is a vital next move (not sure why)up. To be honest..I am surprised the sp did not fall more after the very boring results yesterday... But I am getting more optimistic that the big seller is now finished and we may find that the buyers are now more comfortable that stock is not now going to be dumped. Also most of the big volume trades are now on the buy side. This could be in anticipation of the next announcement which may be associate status been granted. If it were the case an acquaintance of mine has said it could mean as much as £33.9 million before tax profit, been attributed to FTO on a consolidated bases, based on CGH's 2012/2013 year end profits recently announced..which were in GBP £169 million. That plus our remaining groups profits could put us close to nearly £50 million before tax!!!! Not including CGH stake and cash from deal... With gearing around 21% and very manageable...this stock is beginning to come through the smoke of the last year in an exceptional position and will no doubt soon attract serious attention... Big top up completed today on this new information and please....EVERYBODY DO YOUR OWN RESEARCH...but don't take forever..
Fully listed Fortune Oil (FTO) has announced a string of transactions which has left many investors pretty confused but broker VSA Capital reckons it is good news for investors. It has published a detailed note explaining all. It writes: Fortune Oil has announced what is a very complicated, but ultimately beneficial, package of transactions which aim to drive future share price performance and increase its exposure to the growing Chinese gas market. 1. Fortune has acquired the remaining 15% interest in Fortune Gas Investment Holdings Ltd (FGIH), for a total consideration of US$60m. This interest is currently owned by Wilmar International Ltd (WIL SP) and has been conditionally sold to China Gas Holdings Limited (384 HK). 2. Fortune has arranged a working capital loan via a Vitol-backed vehicle, to bridge commitments while it awaits Ministry of Commerce of the People’s Republic of China (MOFCOM) approval for its asset disposal to China Gas Holdings. The short-term benefit for existing shareholders is the special dividend of 2.36p/share, which should counter the dilutive effect (c600m new shares to be issued) of these transactions. In the longer term, the acquisition of Wilmar’s interest will increase Fortune’s exposure to China Gas Holdings (CGH), and therefore to the rapidly expanding Chinese gas market. Vitol’s involvement in today’s announcement shows that it, too, has expansion plans in China, and this relationship should yield additional growth in due course. Given the share price performance since March, this news should come as some relief to the current shareholders, as it delivers a special dividend as well as the opportunity to create more value in China. We continue to be of the view that Fortune Oil is a misunderstood company and is undervalued on its CGH interest, alone, with the Fortune portfolio in for “free”. We maintain coverage with a BUY recommendation and target price of 20p.
Buys coming through on ICAP Market too. My top up went through on this. http://www.isdx.com/forcompanies/ourcompanies/companydetail/default.aspx?securityid=10391
Hi Shatter, see you 're still in here Mate. A mis-understood Company I'd say. I'm hoping that Market attitude might change and we see a better share price. Best wishes.
Proposed for the 2nd Oct, 2.36p did have these shares but decided to get out in the end as there was no movement here , will keep an I on.
Nice to see a little blue after the sea of red yesterday..
It is OK because you can cancel when you want to. I might take it for a months subscription and then cancel..it depends on what I am monitoring at the time.. But L2 is not great to be honest and I would not have a full subscription running all the time as it just does not really help. Example... The best bid may show say 10p for 200,000 shares. Someone with DMA may hit that for say 100.,000 so then the best bid goes to 100,000 @ 10p..so far so good. Someone else who does not have DMA may sell 100,000 as an O trade and it does not seem to affect the L2 book which still remains 100.000. So in that way it does not give you a true reflection on the book. Of course it may very well be an iceberg order showing but it does not seem to be the case as I have studied it for some time..
Yeah, im with the Halifax . The shares were added the following day ..
Cheers for that mate...Will get in touch with Capita immediately...:) Thanks again..
DRIP shares in my account, transaction dated 16 th August.
Yeah...I read that earlier on an other board... To be honest the structure and grammar of the sentence is misleading. But I have checked my account and to date no drip shares have been lodged thus far... However last year it was nearly a week before I received them in full, so still early, I guess.. But I will keep an eye on it all the same..
Can anyone make sense of this . Del I know you use drip , have you had the same problem . 15:55 Divi Reinvested PMP1 View Author's profile Add to favourites Ignore Author's posts I usualy have my dividend reinvested in shares but this time it wasn't. On asking today why it wasn't I was told that shares were only being bought and not sold at present can anyone confirm this as it doesn't make sense to me?