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Can only guess on dividend as there’s been nothing formal but no income, loads of money owing to us and continued maintenance costs on the paused wells and kit doesn’t look like a recipe for continued payment to me.
Guess the BoD are keeping quiet hopping for good news on payments / pipeline. If they announce a dividend cut the shares are going to be worthless.
My guess is nothing will happen. Bagdad will probably say, if you want to keep exploiting your licences, drop the case. The best case scenario is that we get back the BB licence with an extension. It all depends on hhf relationship we have with Baghdad ... and this I have no idea.
Since the contract have been declared illégal, I would be surprised if anything happen. If we get any money in compensation it would be a big bonus.
Do you guys know what is the stance with the dividend going forward? Has it been mentionned since we do not have any revenue at the minute?
Another big question is what happens with the arbitration? Who are we taking to court - KRG or Baghdad? How can KRG pay up if they lose the case?
I meant there is NO guarantee
I agree but there are guarantee they will be any better ... but they operate in juridictions that are much more exotic ... and therefore with less safeguards ... we will see.
Given the choice between successful Turkish business BoD members and Genel’s historically ineffective English BoD members I’ll take the former every day.
They have far more chance of getting things done in the region (don’t really mind how they do it (bribes, prostitutes, champagne dinners, threats) as long as it gets done).
Plus they now have some serious skin in the game so far more self interest at stake.
Would anyone really prefer a return to Goldsmith et al ???
I would love to be wrong on this one, but I think you are well wide of the mark. Far from being collaborators, it appears from the May 2022 AGM that HG and TB have been engaged in a boardroom struggle as Gozal (and Higgs) were not re-elected to the Board.
Yes was expecting that to drop in today, pretty obvious they are building a huge position here, they could end up launcing a takeover bid , imo
hoping to hear news on Morocco soon
P**s off pangloss.
You are probably part of the problem.
Calm down dear. This is a simple PDMR dealing notification and the time limit is within three working days of the transaction. It's part of the EU Market Abuse Regime and not particular to London. Take a chill pill, or perhaps do some research before making such absurd statements.
Possible but this would be surprising. I think the Krg does not have a lot going for them at the moment. It might well happen, but it is down to Baghdad, isn't it now? I am not sure what is the state if relationship between Ankara and Baghdad. The fact that some major shareholders are increasing their stake would mean the Genel has a future (which was not a dead certainty only a few weeks back).
The big question is how long it will take for the production to resume AND what are the plans for the company.
But why the 48 hour delay in RNS FCA?
WTF? FTSE is a corrupt manipulated joke.
Having been a shareholder for many years this company was all about gas being sent via Turkey and Europe rather than oil
As there is a Turkish connection with the major shareholders i just wondering whether Krg might be forced to back down on there decision with Genel over the gas issue in order to get the oil pipeline open again
Agree - the other concern is what is the linkup with Mr Karamehmet and Marshall Islands company Focus Investments ? There is one somewhere !! There is another 12% ownership in individual who all appear to be linked.
75% enough for special resolutions ?
Exactly my thoughts but it might be a bit more complex than that because if they were exactly on the same page then they would control all the votes ... which us not quite the case I think.
From memory, I think you have to make an offer the shareholders when you have above 30 or 31% ... you need to check. But really if they work together, then there us no point pushing the share price down.
Good potential for being shafted though ... we will see.
Tolga Bilgin (49) and Hassan Gozal (49) both went to Bilkent University, same course / same time - Friends ? Business collaborators ? Mmmmmm
HG - 17% ownership, TB - c25% ownership, Turkey Bank - 20% (shares held by HG/TB ? Or by other contenders like Vidat Bilgin (TB uncle)
So in reality 62% minimum of Genel is owned by small group of individuals and two of them HG/TB seem to be like Siamese twins.
So anybody out there - what are the rules and thresholds for LSE companies and when do people need to make an offer - as to me there looks to be a low ball buyout of Genel ongoing - with a little help from Turkish Government, extending pipeline shut-in gives them longer to acquire even more on the cheap
All the above just summations 2+2 and all that can be anything but seems to smell like 4 to me !!!!
Posting on GKP as well for any thoughts / insights / other info.
Today???, certainly looks like it to me, will find out in the next day or so, if they have increased their holding again looks like a takeover could be lining up, imo BUY and Hold ,imo
Yep looking good , another large buy just before the bell ......atb
If this keeps up it could be back in the 1.30 range soon ,
Presume its nothing to do with this neither?
https://www.iraqinews.com/iraq/iraq-allocates-417-million-for-new-marine-pipeline/
This is more my concern ... at the moment the large shareholders' interest is more or less aligned with ours. If it is taken private, it might not be the case anymore ....
We will see.
Something must be going on behind the scenes if theyve stopped pumping and the pipeline remains closed but the price has popped more than 10p in past few days
Private take out?
KRG might be keen to get some income but looks like it’s Baghdad in charge now and they’ll be happy to ruin KRG to maintain control and power.
Mutual self interest never seems to apply in that part of the world.
Rising fast, the KRG will be keen to get these Companies up and running again , its no wonder the buying continues here,