Newsflash for the Snoozers Part 22

Monday, 10th October 2016 11:24 - by Moosh

Empyrean Energy (EME)

It has been a long time coming but EME finally released details of a proposed return of value to shareholders, subject to shareholder and court approval. From what I gather:

EME WOULD LIKE TO RETURN 7.9 PENCE PER ORDINARY SHARE

RECORD TIME AND DATE = 5 PM, 19 OCTOBER 2016

When this news was released the price was ~7.875p and the market close on Friday 7 October 2016 was 8.875p. Given that the amount due to be returned to shareholders is about the same as the price at which the news was released you would think that the market would have pounced upon this windfall! By the lack of enthusiasm from the market given the latest price of 8.875p, four days after the news release, it appears the market does not seem interested when companies do what they set out to do, which is to create value for shareholders and then to return that value to shareholders. I thought this was the whole point of investing in the stock market!

So, take some time to consider these findings and stick EME on your watchlist and you can make your mind up regarding this amazing news before the record date comes. I believe this opportunity is open to both existing and new shareholders so feel free to join the celebration and we can all look forward to the next chapter with Empyrean Energy, which looks like the proving up of its proven reserves at its Eagle Pool asset in California.

The Writer's views are their own, not a representation of London South East's. No advice is inferred or given. If you require financial advice, please seek an Independent Financial Adviser.