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Interesting that the sp still ended slightly up, so while there is a seller there are investors buying at this level which has some support from a bottom of a downward trend channel.
The book value makes this cheap and good value but if that trend line breaks it’s likely to drop a fair bit. Worth a small top up imo and save cash incase it does drop further. News out of the company recently has been good imo.
These are pretty much unheard of atm. They have been talked about on VOX (search utube) by Paul Hill. Certainly interesting but the current stats of the company shown in stockopedia will stop most investors looking further. Saying that, I’ve taken a small holding here today.
I'm pretty sure you can only get them in the account they are in. What you could do is ask your broker to transfer to your standard account, or sell them and buy back in your other account if you have the funds to do it or remove the funds from your isa to your other account. Your broker could do this quicker. Obviously funds not in the isa are taxable after your allowance.
Don’t worry about the CREST bit. Basically if you own shares through an online account in the uk all your shares will be within CREST and your broker will inform you when you need to take any action. Do check your account though for corporate action.
CREST just stands for “ certificateless registry for electronic share transfer”.
I am in the same boat as you Liam. Currently I am holding hoping for another bid though I’m not so sure another bid will happen. I will decide what to do later, before a completion happens. I am looking at transferring to Interactive investor. I have opened an account with them. There is no monthly charge for 6 months. I don’t want to have 2 sipps open due to double the costs. So if I transfer over it will be the whole account. This will take a few months to transfer but can be done quicker if I sold all holdings and went to cash which I don’t want to do. Big decision which I don’t want to rush.
As much as I hate a dilution my first thoughts are, I like this one. It is needed and will provide the funds to progress Sealion which everyone knows will be massive. And the warrants makes this very juicy imo if I’ve read it correctly.
Just to re-iterate, Arden have a price target of 300p.
Got this of a poster there.
Some analysis on the deal
from a long time follower of the company and former analyst Malcom Shaw.
The merged company will generayr 60 cents in free cash flow over the next 12 months, have 90 cents per share in cash upon merging and will trade at 1x debt adjusted cash flow. There is cheap, stupidly cheap and whatever this company is.
On the news front, my favourite little oil company that could, Tenaz Energy (TNZ.TO, last at $2.65) announced that it is acquiring UK-listed SDX Energy for about 15 million shares of TNZ stock. The deal appears to be highly accretive and I would expect nothing less from Tony Marino and his team. Elephant-minded investors might remember SDX used to be known as Sea Dragon Energy and was listed in Canada, with assets in Egypt and Morocco. Some might worry about food insecurity catching up with Egypt and Morocco later on this year, but I figure that I’ll just worry about the things I can control, and accept the things I can’t. I don’t have a crystal ball, but at this valuation I like my chances. Saudi Arabia recently pledged $15B in food aid for Egypt this year. Here’s hoping they can get grain moving through the Black Sea via Odessa this fall.
The deal, which requires a shareholder vote on both sides, would see little TNZ step its production up to around 4,700 boepd as it tacks on development assets in Morocco (gas) and Egypt (gas and oil), both of which also have exploration upside. TNZ highlights that the business combination would take TNZ’s reserves up to 17 million boe, is accretive 141% to production per share, and would be 212% accretive to operating income per share. I have a big bet on TNZ and this is the kind of deal that I was hoping for… At current prices TNZ trades at just a little over 1x EV/DACF (not a typo) on a pro forma basis, and will boast nearly $0.90/share in cash when the deal closes. I saw a note today that suggested the cash pile could grow to around $1.50 per share in just a year’s time. This is on a stock that closed at $2.50 today, meaning that I think TNZ is dirt, dirt, cheap at these levels. In light of its low share count, TNZ shareholders have a lot of leverage to value creation here; a $1 move in the stock (~40%) would equate to about a 1x cash-flow multiple expansion. Cue the Guns n’ Roses song “Patience”… there’s a lot of story to be written here.
lol yeah, me neither. Just looking at the transfer process and it now tells me 3-6 weeks for cash only or 8-12 weeks for stocks. When was the deal meant to be finalised? SDX have really screwed things up. Should i sell all my stock and wait up to 6 weeks or just transfer the stock and wait up to 3 month!! This really is ****ty.
If you open up a sipp with ii they currently have 2 offers running. The first gives up to £2k cashback when you transfer before 30th june. https://www.ii.co.uk/ii-accounts/sipp
The second gives New customers who open a SIPP before 31 May will pay no fee for six months – a saving of £12.99 a month.
Who knows 34addsaddsa, when I checked using ii and hl search for shares Tnz did not show up in either but I’ve now had confirmation you can trade them with ii.
One thing is for sure, sdx bod are a right bunch of wenkers to agree a deal in shares and not cash. Royally stitching up sdx holders.