Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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BB,
No one is sure what the Hardy's voted ..... with 42m voting AGAINST, the Hardys with their ~30m could of voted against too.
Should we get an RNS announcing Hardy's reduction then SH should take note.
aimo & dyor
Also reducing ..... show massive confidence in deal .... LOL, Not !!
https://www.lse.co.uk/rns/SQZ/holdings-in-company-33mkula485vsuih.html
I'm with you Terry. Very fearful
Be interesting to see what shareholder returns we are offered in April !
The only question that I don't understand is why Hardys and others voted YES.
Perhaps as we have discussed many times a big reveal will explain all.
How Mercuria must be loving this deal .......
Yep, got controlling interest, shed loads of SQZ cash, compliant BOB, very low share price enable a cheap takeover and delisting.
This will probably go the same way as another company I have shares in, KAPE. Doing really well but SP held back because of a threat controlling shareholder with a derisory takeover offer of take the offer or I will force it private and you will the struck. No matter how much good news comes out SP will not move higher because of this threat.
Genuine Question?
Can you pleas explain the pros & cons if the company does go ‘Private’?
Private Company within 3 month.
It's confirmed, Mercuria now hold 25.35% of Serica !!!
https://www.lse.co.uk/rns/SQZ/holdings-in-company-dma0z9ky8e72w6t.html
How Mercuria must be loving this deal .......
aimo & dyor
"to offer" .... !!!
That reads to me as if it's still under negotiation as to the specified “normal” to be used or more strings attached to the 'offer' ?
UK Gov have 'offered' & UK O&G have rejected their 'offer' !
aimo & dyor
https://www.ft.com/content/913db0ed-ccb6-4cde-8d39-f1f78b1240f5
Headline:
UK government expected to offer energy companies windfall tax relief
Lower fuel prices spur hopes the levy will be reformed as sector is being encouraged to invest in new projects
A few snippets:
"Britain’s oil and gas companies are next week expected to be offered the prospect of windfall tax relief, as prime minister Rishi Sunak looks to boost investment and improve the country’s energy security."
"Ministers have been discussing with the sector a promise that the 35 per cent windfall levy on profits would cease to apply if energy prices fell below a specified “normal” long-term level."
"People briefed on discussions between industry and the Treasury said Hunt was looking at a price floor so that the levy would not apply if energy prices fell below a certain level."
Will it really. The wokes will not be forgotten hopefully you will all get out of bed and return to the real world. I would sack the lot you if it were down to me.
Oil and gas tax will disappear from the agenda of the Daily Mail and the swivel eyed British public as soon as the price cap starts tracking prices down imo
I see the wokes are at large on the BBC again. Oh deer. Also before I am sh....t down with my un wokey behaviour. Their cr..p has a Knock on effect with my investment here
Maybe they are comm...sts in disguise.????. That's the thickoe l..r party inmho.only inmv dyor .
I wish politicians would start joining the dots and thinking about energy supply strategically. Even Labour must realise that hydrocarbons will be needed for at least another 30 years and taxing the industry to oblivion isn't going to help our energy security.
Sorry forgot to add also the antagonist tw...t st...er
Let's hope some common sense is used and there is a floor on the WFT, however I get the impression they are looking to reduce the tax if the price of O&G falls below a certain level not stop it.
Shadow climate secretary, Ed Miliband said the report was more evidence that next week's announcements would be "Fossil Fuel Thursday".
He said it would see "giveaways to companies already making record profits, for a policy that will make no difference to energy bills or security, fleecing the public whilst trashing the climate."
This is scary especially as Labourt are highly likely to be in power in a few years. As you can only giveaway something you own Ed Miliband believes that all the profits from O&G companies are the property of the state as anything not taken in tax is a giveaway. Who is fleecing who?
The Financial Times reported that ministers are set to offer energy firms relief on windfall taxes.
A Whitehall source confirmed the plans, which will be set out by the Energy Security Secretary Grant Shapps, will focus on bringing down wholesale electricity prices in the UK and reducing energy bills for consumers and businesses.
The Financial Times reported that ahead of this, ministers have been holding talks with energy firms about adjusting the windfall tax if oil and gas prices dropped below a certain level.
https://www.bbc.co.uk/news/business-65077495
e..d m...bnd is a tw...t inmv dyor
See Malcy made a long and detailed comment on our deal completing (not) :
"Nothing further to add to this, the deal is completed and the new company will be a challenging beast in the industry. "
Added to the equally long and detailed coverage back in Feb ;
"Completion should also rest easy any market concerns about the deal and I would expect a well deserved rally in SQZ shares."
https://www.malcysblog.com/?s=serica
Unusually restrained from making any real comment on this deal ever since first announced in December, gagging ordered maybe, or don't want to be made to look foolish !! (lol)
aimo & dyor
Horahh Concervative party starting to act more like Concervatives again.Hopefully they can pass this as some sort of legislation to stop future government reversing it.
Yep, news appearing everywhere on gov amending WFT .
https://www.lse.co.uk/news/uk-government-expected-to-offer-energy-companies-windfall-tax-relief-ft-9g1iz3dj1qk77v9.html
I'm sure there has been an army of mathematicians presenting figures for both side, lets hope that reason prevails and we get a decent, pro energy security price floor.
NBP Average :
Q1 2022 - 233p/therm
Q1 2023 - 134p/therm
BRENT Average :
Q1 2022 - $102
Q1 2023 - $82
aimo & dyor
There is talk that the WHT would have a floor applied
https://www.ft.com/content/913db0ed-ccb6-4cde-8d39-f1f78b1240f5
Unfortunately the problem is that Labour will no doubt play politics like they have with the pension lifetime allowance and say that they will undo any change while taking away the tax relief as already stated. With labour knocking at the door of no 10 it is hard to see any company changing their mind on the UK until Labours position is know. It is somewhat ironic that an opposition party can have such effect on on the UK by either threatening to undo policies or putting pressure on the government to put in their policies like this windfall tax in place.
Two stories this evening caught my eye, could Thursday be the day we hear the Government has put a floor on the WFT?..
https://www.energyvoice.com/oilandgas/north-sea/492271/uk-government-plans-energy-security-day-in-aberdeen-report/
https://www.reuters.com/world/uk/uk-government-expected-offer-energy-companies-windfall-tax-relief-ft-2023-03-24/
Just making a point.
Erm, that’ll be the issue of shares for the acquisition.