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Passive is this on the IG spreadbetting?
Anybody know how that works? I thought you’re supposed to get exactly the same treatment as if you’re holding shares?
@ passive
Warrants are never tradeable, you have to pay your broker to exercise them into shares, which are then tradeable. Are you sure you asked the right question of IG?
Thanks for your email.
Ig not allowing to convert my warrents,
Reply from them.
After checking again with our specialist corporate actions team I can confirm that unfortunately these will not be tradable. On the platform you should be able see this (Rockhopper Exploration PLC Warrants - Non tradable).
I don't think shareholders would be too pleased to Sam give away 250m for 75m. Surely it would need a vote?
"I'm just here to educate & enlighten the masses." Says the Master....
How about a Billy Graham type of tour, you know? I'll come to your Manchester gig, and sell popcorn. Wish I had your charisma, though.
@Chessmaster ... It's peculiar how you try to keep talking the share down ever since you suddenly reappeared. Slipping in some suggestions here and there and acting knowledgeable.
I am curious for your sources where they buy these awards for only 20-25%. I imagine you got your numbers upside down. Selling the award for 75-80% is more common once all the annulment is over and it's a sure win for RKH.
Insinuating a need for new shares is far from logical at this point either. If the warrants are exercised, no new cash is necessary. And with a sure award (we should know within the year), it's way easier to get funding through different means SHOULD that still be necessary.
Pigfase, where I am, the sp is up.
So where are you located, or are you some sort of Bot? Where did you learn your peculiar English?
The spread is getting smaller. The mm/market has the confidence in the sp..IMHO
12.932 p - 13.298p (figure are from IG platform).
Great opportunity to buy-add if you think that OM will be won and FID will happen.
I think both will happen....IMHO DYOR
Buffit, I bought 10k shares two days ago which showed as a sell too.
The market doesn’t see it as good or bad news, it's seen as
Just an update. The Rampers sees it as positive news.
We have to wait till Q1 2024....IMHO DYOR
Probably it's an opportunity to buy/add at the moment...DYOR
Bought 25k shares on the news - shown as a sell ( I know that this is not unusual, but it does paint the wrong picture ).
Requiring Italy to deposit or put up security is likely to cause them to reconsider their chances of success . Not abiding by Arbitration decisions will ultimately put off overseas investors as they will see that Italy can just ignore international agreements . It could also deter companies investing in eco friendly policies as Italy will not hesitate to ignore these rules when it suits them . This whole process is tiresome but hopefully we will get there in the end , GLA
Just read Bonefish post cant agree more ,follow the leader that what going on. WeII their is no leader just sheep .Do you peoples not realize you have no say in what is happening, we live on the edge of someone dream. Great news ,apparently and the price goes down as i say no control. I say back to the fields ,Love you all .
While it's definitely another positive step in the right direction, it's nothing to get too excited about yet.
If RKH do decide to sell all / part of the award, this just increases the sale value a little bit.
I do think the moaners need to remind themselves that we're arguing over trivia, while waiting for far more important news from Navitas.
18 months ago, the same moaners were saying there'd be no award at all. Look how wrong they were then, if we're now deliberating how much of €250M (or so) RKH is going to get eventually.
The big money is no doubt waiting until the award and FID are guaranteed whilst paying pi!!ocks to sow negativity to keep the price lower for their eventual entry.
A potential buyer could be doing the same but it’s a gamble and not without risk.
I read once that on average a share price rises only 70% to the sale, when a buyer steps in. So we need the price much higher at that point. Don’t know how accurate that is.
I cant understand why the share price is not moving on this news or why volume is so low
Morning all,
RKH have submitted their proposals and if I'm reading it correctly, the stay is lifted pending documents are sent to Italy and Italy have within 5 working days thereafter to object.
I think the account is more than likely set up, if not, it can be set up within 30 days, though having submitted proposals to the panel , I expect this is a formality.
When and if Italy object to any proposal relating to the arrangement for the escrow account ONLY ,it still allows RKH to amend the setup easily.
The stay is as good as lifted, this would allow RKH to sell on the award on a firmer footing and a higher return were the stay not lifted.
I believe what this also does is put Italy in a poor negotiating position going forward were RKH to sell the award.
IF, RKH were to sell the award and the process is 18 months long whilst attracting interest at 1m euro per month, the award would be well north of the 250m it is now , plus likely legal costs piling up .
So, were RKH to "announce" that they would consider selling the award to an entity, that entity would very likely to be more than happy to draw out the proceedings till the very last, they would be in no rush with interest piling up every month, the overall cost to Italy then would be much higher than the actual award as it stands .
This is one possible way to speed up any settlement.
This leaves RKH in a position to play hard ball in any negotiation , either with Italy or those wanting to buy the award.
RKH lawyers have proved to be very smart and this is standard tactics in arbitration to obstruct and delay. They would and should be ahead in their plans to extract the maximum award now.
The funders , Harbour , will themselves likely make an offer now the stay is lifted as they are also fully aware of the basis of Italy's annulment request. This would create some competing bids for the award and leave RKH in a position of strength .
I guesstimate there will be more news between 10 and 30 working days from now.
GLA
Thanks - copied from Yeast is Rising:
“On the lifting of the stay of the enforcement it was said that the first thing you have to do is to register that the award exists and is in favor of RKH and against Italy, f.i. in London and New York. This takes about 2 months and is pretty standard. Than you have to serve the award, which takes many months, is quite complicated and something Italy would almost certainly contest. So if you would try to serve the award before the annulment result, even if the stay is lifted by ICSID, Italy could go to the UK court to ask for a stay pending the annulment result. So after you win that argument, you can serve the award and attach the assets. The advice RKH got was that the time between registering the award and seizing the assets would be between 12-18 months. They already ha a list of assets ready. Keith then told that at Cairns, where he's also on the BoD, they went after some assets that caused much embarrassment to India and that shortened the process. Countries often have assets their people don't know about and you will try to make it difficult for them and expose them. ”
Yeast is Rising made a good post on the next legal step on 01st July. P
That’s why I think the company ought to explain the plan. I think the first step is to register the award in the appropriate jurisdiction(s), and I can’t imagine the legal fees to do that are particularly high.
Why rock the boat seizing Italian assets and firing up the environmentalists possibly putting pressure on the panel's final decision in Q1 2024 . Also as mentioned earlier costs to sieze might be wasted if Italy argue to the courts that no final outcome of award has been declared yet.
Hi All
Good news for sure
Certainly worth starting now , just possibly might hit on something Italy want to keep their hands on, or maybe even they concede defeat and come up with a settlement to save face …. Who knows
GLA
Boboil
Yes, they will begin enforcement of the payment. Far better to do it now than wait until the annulment decision in our favour (being optimistic, and lets face it its looking very much in our favour) then try to claim the money back. Far better to get the money in advance of the decision in Escrow, to then immediately be able to withdraw it upon final decision.
Chessmaster, I have re read the rns and I had read it wrong, I accept that, although I am sure I read other posters on here referring to the decision being due within 30 days so maybe I got it from there. As to your other comments attributed to me such as "Italy will never pay" it is clearly you who is discombobulated because I have never said any such thing, nor have I ever moaned about my investment decisions so I suggest you are more careful before accusing people in the future.
I would have thought clauses 2 & 3 are pretty standard.
I think it’s important for Rockhopper to explain what it intends to do now following this ruling. I suspect they would, at the very least, want to get the ball rolling considering it takes time. It’s unlikely they will get the money before next year anyway so the escrow account is probably going to end up being irrelevant. This decision simply means that they can now go after assets without delay.