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on website : 'Those happy to take their pro rata share of the distribution can accept the Tender Offer. Those who would prefer not to sell any shares, can decline the Tender Offer and in doing so increase their percentage holding in the Company, without incurring any cost. Those who wish to seek to sell more than their pro rata share of the Tender Offer can make such a request and use the spare capacity made available by shareholders who choose not to participate fully in the Tender Offer.' So you can try and sell as many as you like but will probably be only able to sell about 30% of your shares in the tender offer. As Riddler says any bid price around 34/35p would be advantageous to sell all on the market. After going 'ex-div' ay 8 a.m. Wed 25th July sp will drop IMO by about 7p.
Perhaps they are not ex-divi as : Tender Offer Record Date 5.00 p.m. on 24 July 2012 But they are only going to buyback 27.78% of the shares. Awaiting posting of info on website.
Why the rise - expected it to go down - these are basically trading same as ex-dividend now.
Yeah...It sucks..so is mine.
Halifax share dealing down!
Wish it was 78% how you work that out more like30 ish
Sorry, buying @ 28p - my profit is 800/28 = 28.6% Maths slipping.
Having just worked yours out sstrarski @ 50%, I see my personal calcs are wrong, I'm up 22%. Lot can happen between now and end of July but we'll have to decide fairly soon on acceptance.
I take it back, this does seem like a good deal at 24p a share purchase :) Seriously though I think we will see an uplift in addition Its a very shrewd move - It keeps the short termers happy and ensures those that remain will get a bigger slice of any future pie. Remembering LOGP has bids closing for Farm-ins at the end of July and SEA are at some future stage (not until true vlaue realised I hope) to divest those interests
for me - bought @ 28p - for the ones I can sell - guess there'll be a stampede and we'll all probably sell about 30% 'cause the BOD aren't selling.
What percentage of our shares can we sell back @ 36p - can we try ALL of them and if they don't get up to the 27.78% limit they'll buy ALL ours? I suppose it'll be on the website soon.
This will be in the form of a tender offer by which the company will buyback shares of holders at a strike price presumably 10p above sp. This will not be determined until after a late July general meeting. Q. When will the Tender Offer be completed? The Tender Offer cannot be finalised until shareholders have approved certain resolutions in General Meeting. We are working with our advisers to prepare the necessary documentation and expect that a circular containing details of the Tender Offer and the notice of the General Meeting will be mailed to shareholders early in July with the required General Meeting following later that month. The Tender Offer will then be implemented shortly thereafter. For the avoidance of doubt there is no action required by shareholders in connection with the Tender Offer until the circular has been mailed. The above comes from the company website Q&A - link : http://www.seaenergy-plc.com/faq.html#dividend
I finally have some funds released to purchase in to the company, i see they are going to give 10p a share back to investors, when is the cut off date for this? I dont want to by high then see div given and sp drop 2 days after i buy......
Surprised by the re-purchase, I had thought a one off DIVI. Not sure if its a great deal considering we are not yet cash generative, but we will see baz9707, I too would like to see more investment in LOGP. However in the future that stake will be sold, I suspect after barryroe upgrade and amergin farm-in. Perhaps they will hold out for a LOGP suitor? May be interested to know LOGPs closure of bid date, but keep it under your hats - Any movement toward the 23rd July and I may load up in LOGP again http://www.macquarie.com/mgl/com/macquarietristone/mandates/lansdowne
Not sure you are right there. The SP will probably go down, because there will be £6.9m nett less assets in the company afterwards which will more than offset the increase due to a smaller number of shares.
http://www.seaenergy-plc.com/downloads/releases/2012/01Jun2012.htm Worth a read it looks like they are going to buy shares back from investers at a premium probably 40p. Then the people who want to keep the shares should see the sp rise as there will be less shares about.
http://www.investegate.co.uk/article.aspx?id=201206011623056892E&fe=1&utm_source=FE%20Investegate%20Alerts&utm_medium=Email&utm_content=Announcement%20Alert%20Mail&utm_campaign=SeaEnergy PLC%20Alert There is one bit of news that had to happen this month, a bit of news before the AGM would be good.
Would love them to invest more in the oil and gas side
Yes looks like there is potentially good news flow this year...and possibly someething sooner rather than letr.
Your link, http://www.seaenergy-plc.com/faq.html . Thanks for posting the above link, interesting read. BW
Should see some news next month then.
I urge all shareholders to read this, I found this very interesting and I am sure you will: http://www.seaenergy-plc.com/faq.html
Not many Aim Companys with so much spare cash they need to invest it while the markets arre down. There must be some distessed companies out there with potential. But they might show us patience pays of when they announce what they are doing with the cash. Apart from paying there wages.
LOGP up over 6%, SEA down? WtF, stupid markets!