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Unless its way over 75% !
Possibly your contact meant, "based on our current capitalisation".... not wanting to second guess.... But one would expect the price to be closer to be closer to the 75% test before the sale.
These sales only seem to happen after decent buys ,ie only when deemed necessary to suppress the price
Well Legache it was given to me by a BOD member.Cant be more authentic than that
More sales after 2 decent buy orders.We are in someone's sights.This is good news because once SD has been finalised the financials will be out in the open and a bid will need to be much higher than the cash element.So fill your boots at 4.2p
Such an assurance cannot made. The cap may rise before the point of execution.... if the share price rises to say 8p. that would be 16 million GBP. Hence, the 75% test would not be met.
Is this how these things work? (No idea really)
No I have been assured that SD will require shareholder consent ,therefore more than 75% of market cap
SD is over the line yet... that's the possible reason, when it is, all bets could be off.
However, could the price be lower and thus not need approval? Goal posts have changed since that announcement.
Using the 75% threshold rule SD proceeds should be at least $11,thus making the total cash proceeds represent 63% more than market cap.Unless my calculation is wrong I have never heard of such a situation and I cant understand the current share price .
In this situation, I would want to see more detail on value creation before suggesting a special divi... i'd rather they kept the money and made more than gave t back, but if it's all going to frittered away on little drills in Morrocco and lunches for the executive team, then yes, special divi could be the way to go.
Does anyone else think that across all corporate and technical releases, including all the recent RNS's there is a distinct lack of detail... very frustrating trying to make decisions when this is now my largest holding...
Once all the deals are finalised and there is a shareholder approval meeting it would be a good opportunity to see whether some of the excess cash can be refunded to shareholders either as a special dividend or a share buyback process to stop any shenanigans
The persistent sales ,although not huge,seem to be part of a plan to undermine confidence despite the facts.The only point would be a preparatory tactic before a bid.With cash in hand almost certain to be higher than market cap then they want to buy SDX with its own money !
Integrafin is Transact an investment platform.Lots of different shareholders
Why not - if we get 11-15m for SD we will have circa 15m pounds I. Cash and a market cap of 8 m pounds !!!
Substantial holder just increased position from 5% to 6%
I also understand that all the cash generated in Egypt will be dealt with in the sales process and no cash will be left stranded in Egypt subject to capital restrictions
I understand that shareholder consent will not be required for West Gharib but will be required for South Disouq
It depends when you bought in. I have been in for a few years and don't see any chance of breaking even, nevermind making a profit on my own investment BUT there is certainly a strong case to be made for the SP recovering to a multiple of today's level, and rather quickly, once Egypt is finalized, nevermind any further positives from Morocco. I mean maybe 2x or 3x in the short term, not 10x, but I will take that!
Amateur investor here....in simple terms what are people hoping for here/is there any hope?
Check in now and again and trying to keep up with the threads but just looking for some advice seeing as like most I am heavily down?
Any hope of getting anything out of this?
In 2022 the net operating income for Egypt was $8777 so we can expect similar for 2023.Is this cash within the SDX Group or is it within the subsidiary companies being sold. None of this cash has been repatriated,I think, so I hope the former
Reported elsewhere today that the buyer of both SDX' Egypt entities may perhaps be "state-owned Russian firm Zarubezhneft... On 26 September 2023, Zarubezhneft was pre-awarded the North El Khatatba block in the EGAS International Bid Round 2022, which surrounds SDX's South Disouq assets." Just a rumour, and kinda doesn't matter, but there you go.
I would say it should be more than 11 million but obviously will depend.... operated vs nonoperated assets are priced differently. Also, what about the receivables in the country, could be another 5-8 million plus of these.
Malky was so far up our Ex CEO I am surprised he can breathe.
33% went for 5.5m a year or so ago so are we looking at circa 11m for the rest ?
Maybe a Malcy comment later this arvo will focus minds? Yeah, I know, relying on Malcy should be nobody's "Plan A"!