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Morning Gambier RPO are listed on the Premium segment of the London Stock Exchange and have been since January 2012
This is why as the minority shareholders can be squeezed out!! Once 90% by value of the shares subject to an offer and associated voting rights are acquired. Alternatively, 100% of a target company's share capital is acquired by a bidder under a scheme of arrangement approved by a majority in number, representing 75% in value of each class, of shareholders attending and voting at the relevant shareholder meeting So as you see below the above cant happen on Thursdays meeting but an offer can be made for the remaining Free 13% Mastin Holdings Limited 25.0% 217,422,943 Limolines Transport Limited 17.6% 153,424,368 Mr Alexander Chistyakov 15.8% 137,439,903 Forcar Holdings Limited 8.9% 77,284,849 Makayla Investments Limited 8.8% 76,630,306 Conchetta Consultants Limited 7.7% 66,875,000 Schroder Investment Management 3.2% 27,460,337 Others 13.1% 113,574,310
In my opinion the bod are honest just that they were fed up with the SP not going anywhere and that was impacting their ability to fund future developments. Technically there can be many scenarios but if they are to decide ethically then fair value estimate can be expected. The EGM on 5th may should provide the answer.
Yes,cannot see why the Bod would purchase the minority of shares left as they have control of the company already,will see what the Agm says then make a decision,I do not want to hold shares in limited company
I've never before had money in a company who were in this situation, so please excuse what might be a dumb question.... Is it possible for there to be so few shares left in the "incorrect" hands that the "correct" buyers/ Ruspetro don't see the point in making an offer?
They have another month to hover them up or offer a fair price which I think they will want to do.
Maybe somebody will pony up 10 million quid for the 13% (10p ish) but I still don't see the need for them to do it. They can keep it private and it will disappear into a Russian ether knowing small investors will not be able to take any legal action. Again just my opinion.
With respect, Russians like to pay for nothing. The RNS would have to had made a tender offer for them to be able to buy now . Unless somebody hovers them up this week, which I don't see happening
Agree they can offer any share price to buy existing share holders. However 10p offer would look really cheeky specially with the board trying to harp on the great reserves RPO possesses. http://www.ruspetro.com/en/shareholder-information.php There are currently 113.574 million shares on free float as per above link. RPO not being listed on LSE for a 2 years alone would save £10 million + the reserves of RPO. Roughly 10p per share is what they save in two years for the free float shares. I would expect them to offer at least 30p per share for any fair value. At 30p the buyer would need to pay £33.9 million for 13.1% stake.
After delisting we won't here much from the company again and the assets divided up between the major shareholders.
There is no requirement for a tender offer on the AIM, if they are to make a tender offer as a part of the delisting it has to be presented in the RNS, so this is just a straight listing, if you don't sell now you hold shares in the private LTD company.
An offer for free float won't happen because the free float is so small. They can take it private and put an offer to buy shares through the trading mechanism described in the last RNS. The last share offer was at 10p and I dont see why any of the largest shareholders would pay that when they could get them for under 1 pence through the trading mechanism put forward in the RNS. Ten pence is probably the top end of fair value in my opinion, but I dont see any reason for them to pay it. From my understanding if a company delists through a buy out of the free float then this is presented to the shareholders with an offer price on which they vote. The vote be offered is merely one offers to take it private with a post-private trading mechanism. In the RNS it states they have already enough votes from shareholders who are considered holders within in the free float. I am happy to be corrected.
I would take around 20p but I guess they might start much lower with their 1st offer.
My understanding is the directors when they wish to take it private would put an offer for the free float shares. The offer price is unknown at this stage. There is an AGM on the 5th may, i expect an offer price to be declared the same day. If the offer price is not good enough shareholders would not bother to sell their shares and would technically own the shares in the delisted company (by then it would be a private company). In the reports it appears it cost 4-5million a year to have Ruspetro listed in the premium segment of lse. with roughly 135 million free float shares. A rough calculation of various assets of RPO should give the fair value at which Ruspetro board should buy back shares, fundamentally.
so basically the company just announces it wants to delist...what happens to existing shareholders. Do they just lose their investment. what are they entitled to? Appreciate some answers. Thanks
Andy Haas arrival in 2013 at Ruspetro and links at Rosneft might be a play too, as Rosneft have 90% of the land surrounding our reserves of over 1,200 km2
Annual Financial Report Fri, 29th Apr 2016 10:12 RNS Number : 8189W RusPetro plc 29 April 2016 Ruspetro plc 29 April 2016 Ruspetro plc ("Ruspetro" or the "Company") Annual Financial Report London, 29 April 2016: Ruspetro plc (LSE: RPO) today announces, as required by DTR 6.3.5(3), that its Annual Report has been published and is now available on the Ruspetro website: www.ruspetro.com. This follows the release on 14 April 2016 of the Preliminary Results Announcement for the year ended 31 December 2015 (the 'Preliminary Announcement'). In compliance with LR9.6.1, the Company has today submitted the Annual Report and Accounts for the year ended 31 December 2015 (the 'Annual Report') to the National Storage Mechanism and this will be available for inspection at http://www.morningstar.co.uk/uk/NSM. The Annual Report together with notice of the 2016 Annual General Meeting will be mailed to shareholders shortly and delivered to the Registrar of Companies in due course. Copies of the Annual Report will also be available from the Company's registered office: Ruspetro plc 4th Floor, 58 Grosvenor Street London W1K 3JB ENQUIRIES: Ruspetro plc John Conlin, Chief Executive Officer +44 (0) 207 318 1630 Alexander Betsky, Finance Director +44 (0) 207 318 1630 Dominic Manley, Investor Relations +44 (0) 207 318 1630 FTI Consulting Ben Brewerton, George Parker +44 (0) 203 727 1000
Just a few tree shakes!! I think there will be many as the buyers have very deep pockets, and its more difficult to know when to sell than when to buy, so a shake at each higher level will get most of us to sell.
Good start to the day,have I missed something
only time will tell. but maybe only as Crazy as Donald Stephen Wolcott buying half a percent two years ago for 13 million
I'm in til the death. Only 2k worth of shares but they need them and I don't want to sell. Invested in a sipp so can afford for them to delist. Think the mms will try a few tree shakes before then. Regards.
Thanks guys - also, owning 1% of this company is a crazy thought....
Its not often you get a chance to own 1% of a large Oil and Gas producing company for around 10k
thanks Topknot, & as we thought, I think I might just knock on a few oligarch doors down Kensington when Poo comes back