Member Info for 50cc

Hi. Hope all well. Just doing some research on this share for possible post corona virus recovery play. I notice that the stock halved in value in 2018 before coming back a little in 2019.

Any ideas on what the issues were then that caused that decline?

Cheers!

Sorry for the on question. What date did I have to own shares in order to be eligible for the rights issue?

Cheers

Any views on the new Irish government and the promise to stop all excitation and licences, gas included.

Will this affect us or will be for new ones only? The recent purchase will be a huge blunder if the former

Any idea what's happened to hh2z - the horizontal. They seem to be just ignoring this and haven't really reported anything. I assume it's not giving much so ss is keeping quiet..??

surely, part of the issue here are the upcoming Irish elections? Likely to end up being a coalition of some form so the green party will have a greater influence than they would otherwise?

Surprised we did not get the result today. Wouldn't be surprised if they had waited until after the election to let the politics lead the decision. A Boris win means must get go ahead now - and if not - will be overturned.

Interesting that the constituency containing Wressle is Tory, remained Tory and has bugger all votes for the greens - despite all the brouhaha

Hopefully we get some positive news this week

Excellent. Thanks! Hopefully this decision acts as a precedent in our own case

Some months back I saw a news item where the Minister overruled a planning commissioner decision that had wrongly considered climate change as a factor.

Been trying to find it but can't seem to track it down. Can anyone remember the details?

Yes, very interesting that does not mention inishkea. Suggests that a 'deal' already taken elsewhere for this prospect so no point pushing it here (unless meeting was pure oil and not gas focused?)

I also think very interesting that Hugh is still performing some public duties. Suggests that no bad blood between him and the board. If he was on garden leave of some description he'd not be presenting

Makes sense in terms of costs. One expensive CEO who does nothing rather than two!

Clearly looks like they are buying to block. Perhaps just speculative. If gets voted down they can then hoover up some more cheap shares and compete in the market against Geopark. If the vote goes through nothing lost.

When the original speculative offer came in from M&P they mentioned that they had been speaking to iis. This suggests to me they have at least one investor block on their side. Think many PIs have derisked here but still a significant number that will vote against, so the outcome of the vote is by no means certain. 75% is a big hurdle if abstentions/no shows don't count in the voting and there is a reasonable sized group who are against.

I'm still waiting on Lloyds to come back to me but will deffo be voting no

Sent this before finishing. Was going to say that at the end of the day no other bids have come in so perhaps just **** price.... But stipulations re the sale have effectively prevented the market from working to give us a fair price.

Perhaps a no vote would at least allow a correct proper market-based pricing to be realised.

Running out of time on this now re another offer coming in. I've reduced my holding but with what's left I intend to vote no - even if it costs me.

I hope IIs invested here likewise vote "no", otherwise they're as corrupt as the BoD. Simply want to prioritize the desires of the BoD and one or two big shareholders over the rest of us. Massive conflict of interest.

I suspect that they've prioritized speed and certainty of sale over price because they want the cash to deal with their ironveld Interests. If it turns out this way then criminal action required.

Ok. Rant over.

Disappointing.

Seems M&P just looking to build a stake so can vote against and then pick up at 17p? Very odd that they would offer an initial bid of 17p but not be willing to go much higher. Seems fishy. At least got the message out early now re their intentions.

Do get a feeling that I'm being played here though!

I think if M&P they'll spend this week building a stake then announce next?

Not exactly setting the world alight with buys though. Went from 1.03 to 1.05 today.

Anyone know what happens in the case of a counter bid - do we still have the vote as planned? In assume so, but with chances of it being greatly reduced? Is it then a fight to get up to 50% as they compete with Geopark or BOD forced to engage with them re the new offer?

Re M&P taking a position I see they have two approaches. a) vote against in hope others do the same and then go aggressive to build a 50% stake ahead of Geopark. OR b) vote against having published a higher offer and then either build a stake or engage with management.

To me, option a) seems risky and unlikely. A published bid 10% over current effectively takes the canacord votes from Geopark. Expecting people to vote against something without a clear alternative would seem strange.

I just contacted Lloyds to register my 'No' vote. Think still a bit early for them but said will send through the meeting resolutions to me once they get from the company. Suggest others contact them. They also indicated that they could arrange for me to attend the meeting if I wanted.

Also interesting that R&M have stopped selling.

Actually 3-4 coming very soon:

AGM
New CEO
Election UK - better for EOG if Tory majority
Wressle results

Presumably M&P will publish their counter offer before the 19th of December??

If 10% over then triggers cananscord's clause re their commitment