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absolute lowball tosh. Dont think Deltic will accept that. ill vote against it.
"Following initial conversations with a number of Deltic's largest shareholders, Reabold had recently commenced preliminary discussions with Deltic to seek such a recommendation. "
Well that reads like some of Deltic's largest shareholders don't agree with you...
While I'm no expert on this type of negotiation, I read that as the shareholders are onboard, but the board arent?
Either way, this is clearly a hostile bid by RBS
"This announcement has not been made with the consent of Deltic."
The BoD of any company work for the owners of that company - the shareholders. No doubt we'll see if the majority of DELT shareholders want this to go through.
That was my take SG.
IMO Currently is the important word in this part -
"Reabold is currently only minded to proceed with the Possible Offer on the pre-condition that a recommendation from the Board of Directors of Deltic (the "Deltic Board") is ultimately forthcoming."
My reading is that the majority shareholdrs of Deltic may well be significant holders in RBD and therefore there may be an alignment of intentions. If there is enough of a majority shareholding via II's of Deltic, they may well tell the Deltic BoD to get on board and the deal may go through in time.
Clear as mud at the moment though!
Don’t rbd/ Deltic have the same broker? Or did, you can bet this is a done deal, good for RBD though, imho, bedfellows with Shell now, and who knows, shell may like the look of west newton:)
Certainly gives us something to talk about, you never know what is coming next with these two!
Ludicrous of RBD when the sp is so low. In a month or two after the EWT etc we could have offered far fewer shares.
We get their cash for shares seems like a better move than a raise to me.
James, looking at DELT's 6 month chart, they're share price hasn't recovered since the lockdown drop, whereas RBD's has done a fair bit. Personally I would be very happy - as a Reabold shareholder.
Moronic. No regard for existing shareholders at all. If they had they would have done more to increase the sp instead of sitting on their hands dreaming up the next plan and issue more shares like confetti.
Deltic holders should bear in mind how much confetti is already in issue here and be prepared for a consolidation following on the heels of them getting their Rbd shares.
Disgraceful!!
I disagree, we get the cash for shares pretty much. We then have the main asset which we can raise for after WN success and our own SP is much higher, I can't see them getting the money required themselves if they want to go offshore UK. How about the sale of WN is already prepared waiting the next drills and we use the cash from that to invest in a north sea prospect rumoured to land with Deltic soon!
I think you may have it, trytryandagain! Clever strategy.
So even as the deal stands it is another 2 .1bn shares but it looks like it will have to be sweetened so could be more.
Shares in issue isn't important as long as you are getting a balance with the value it creates. What I would love to know is did S&S go after this or were they asked to go after Deltic! The difference being of course the latter suggests the purse is open but the guy's will want a far better SP so limit dilution, you scratch mine....
I've been in a few companies now through share consolidation, and I've always found value to increase. Maybe it's because I only invest in good companies, but consolidation wouldn't worry me at all.
trytry the share price is no higher today than what it was in 2017, can you honestly tell me there has been a balance with value? There is no point increasing the value of the company by just increasing shares in issue as shareholders are never going to benefit. These morons want to concentrate on increasing shareholder value instead of just issuing more shares to keep themselves in wages.
A little unfair, I think Levi. I'm sure that if it weren't for the impact of Coronavirus over the last few months, the situation would look markedly different.
What rubbish. The share price had dropped from 0.9p to 0.6p before Covid because of the massive overhangs created by printing reams more shares.
'The share price had dropped from 0.9p to 0.6p before Covid'
And you accuse me of talking rubbish! I can see the bulletin board benefits massively from your intellectual contribution Levi. lol
I note DELT share price 52 week high is 1.73, and the low is 0.55.
We haven't got to the monetisation part of the strategy, I understand your frustration but I also understand what the guy's are trying to achieve here and I am more than willing to wait for what I lovingly refer to as Payday!
Yes Ruby that drop from 1p in late October down to 0.6p in March was all Covid related. Lmao!!
It was the hangover from the placing plain and simple.
trytry if they keep issuing shares for this that and the other shareholders are never going to benefit. Your value of WN is already set to get diluted some more by these f*kwits.