Member Info for Bhajanbuffett

I hope you get your wishes of them rot in hell.

Narendra Modi, to speed up diesel deregulation, Rupees appreciating, strong stable single Party Government, investment in Infrastructure will be executed, FDI flooding in. I pray there is last minute legal intervention and no delisting.

The Mahan Coal Block, located in Singrauli district of Madhya Pradesh, an equal JV between Hindalco Industries and Essar Energy, is likely to start operations in the next three months. Hindalco, the nation’s second-biggest aluminum manufacturer, is controlled by billionaire Kumar Mangalam Birla and Essar Energy is run by billionaire brothers Shashi and Ravikant Ruia. The coal block is situated on the periphery of the 925.30 square kilometer Mohan-van reserve forest and abuts 9.8 square kilometer of forest. Hindalco plans to use Mahan’s coal to produce electricity, which accounts for almost 40% of the input cost for its smelter. Aluminum contributes nearly 75% to Hindalco’s net profit and 35% to its net sales, whereas copper contributes 25% to profit and 65% to revenue. The company is waiting for the last mining deed to come. It has already obtained Stage-II forest clearance from the ministry of environment & forests (MoEF), approval of mining plan from the coal ministry and no-objection certificate under Forest Rights Act from the local administration. Mr Ramakant Tiwari CEO of Mahan Coal Block said that “We intend to make the project operational soon. At the most, it would take three months. Now onwards, we expect the project to progress on schedule.” They only paying 70p. DISGRACE AND SERIOUSLY OFFENSIVE

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/84d6a0cc-9977-11e3-91cd-00144feab7de.html#ixzz2uGBmfCKB Investors on Wednesday warned the Ruia family against ruining their reputation in the City of London by taking Essar Energy private. The contentious proposal by the Ruia family to delist the India-focused oil refiner and power generator has stirred up anger.High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/84d6a0cc-9977-11e3-91cd-00144feab7de.html#ixzz2uGBraG2J The Association of British Insurers, which represents the City’s biggest shareholders, is considering putting the matter at the top of its agenda at the next meeting of its investment committee in March. One top-10 investor in Essar Energy said: “The Ruia family are buying on the cheap to make a big profit for themselves. “They should seriously reconsider as they will ruin their reputation among shareholders. Investors will think twice if another company run or partly owned by the Ruias tries to list in London.” A top-20 investor added: “There is not a lot we can do if the Ruias want to buy, but we can make a lot of noise and make it uncomfortable for them. It is foolish for businessmen to upset big shareholders, who they may need in future.” Essar Global Fund Limited, the investment vehicle of the billionaire Ruias, one of India’s richest families, on Monday outlined a 70p a share informal offer for the 22 per cent of the London-listed company it does not already own. The Ruias have 28 days to make good their approach for Essar Energy, which in effect reverses a commitment made as recently as November to divest more shares to increase Essar Energy’s free float to the 25 per cent threshold required to remain included in FTSE indices. However, a person close to the Ruias said they were disappointed at the reaction of shareholders, insisting the proceeds of the listing had been spent on expanding capacity. They also pointed out that economic growth in India has fallen sharply, while enormous regulatory hurdles have sprung up in the power sector, which has hit the business. It was added that the parent company Essar Global had not sold a share in Essar Energy, while the shares have fallen sharply over the past two years. In these circumstances, the parent company had limited options. The company’s shares’ performance has been dismal, falling more than 80 per cent since listing in April 2010. But there is potential for revival as it has been expanding int

Happy with Independent Committee's decision. : )

No, I have not jump ship. Just busy at work, Over the last 2 months have average down by selling and buying.

This is what I could gather from Wikipedia. In November 2013 ENRC de-listed from the LSE after the Groups founders gained acceptances from 96.7 percent of shareholders for their offer - of $2.65 in cash and 0.23 of a Kazakhmys share for each one in ENRC - to acquire the company along with the Kazakh government.

ENRC, one of the major shareholder were the Kazakhstan Government, if they say it goes private, it will go private. Kazakhmys and other Kazakhstan interest investors, will kowtow to their demand. Essar do not have similar clout on the voting members.

Ruai Brothers think, by giving bad results will make people sell. Sorry, "NO DEAL"

£2 should be the minimum price.

continue David Lawton, the FCA’s director of markets, said: ““Active engagement by all shareholders is essential to make markets work well. “By safeguarding minority interests from abuse by controlling shareholders, these changes will promote market integrity and empower minority shareholders to hold the companies they invest in to account.” The new rules will also enhance voting power for minority investors when a company tries to cancel its stock market listing. The rules come on top of changes to the listing regime, outline last year. The FCA intends to implement the changes by the middle of next year. However the Institute of Directors hit out at the proposals, saying it could discourage companies from listing in London. “There is nothing inherently wrong with a company being owned by a majority shareholder. Some of the world’s most successful firms – Microsoft, Amazon, Google and BMW – have large individual shareholders,” said Roger Baker, the IoD’s director of corporate governance. “It remains to be seen whether, by singling out one type of company ownership for extra rules, the FCA will discourage these companies from listing in London. This would be a poor outcome.” http://www.telegraph.co.uk/finance/markets/10427683/Half-of-FTSE-100-to-be-hit-by-new-listing-rules.html

Hope the minority shareholders will be protected, no-way for EGFL to buy on a cheap. Regulator to give new powers to minority investors in large companies where a shareholder has 30pc or more of equity. Half of the UK’s top flight FTSE 100 companies are to be hit by new rules designed to prevent a repeat of the stock market scandals at companies like ENRC and Bumi, where controlling shareholders rode roughshod over ordinary investors. The City regulator, the Financial Conduct Authority (FCA), has outlined a series of drastic new measures designed to protect minority investors by giving them a greater voice. The watchdog is aiming to give shareholders in large UK-listed companies additional voting rights and greater influence in key decisions. But the new rules will impact all companies listed on the main market of the London Stock Exchange with a market capitalisation of more than £700m in which there is a controlling shareholder of 30pc or more. FCA data suggests this relates to approximately half of the FTSE 100 index alone. It will affect a string of household names including Sports Direct, where founder Mike Ashley owns 61.7pc, and Associated British Foods, owner of Primark, where the Weston family’s Wittington Properties owns 54pc. Related Articles City grandees gather in Bumi battle that puts reputations on the line 23 Feb 2013 Rothschild reports Bumi hedge funds to Panel 26 Jan 2013 Bumi key player seeks to sell stake 16 Feb 2013 Few will mourn as index sees Kazakh miner ENRC dig itself out 07 Sep 2013 UK's biggest investors call for listing changes 11 Jul 2013 On target: the story behind football project Little Kickers Volvo These companies will be forced to sign a formal agreement with their controlling shareholder, codifying the relationship between them. The rules will mean a company cannot appoint independent directors without separate approval from minority investors. They will also ensure that independent shareholders are given a veto over transactions between the companies themselves and the controlling shareholder. The FCA announcement follows a consultation on the listing rules by the FCA’s predecessor the Financial Services Authority in the wake of situations surrounding companies like Bumi and ENRC. At Bumi, institutional investors bought into a Nat Rothschild-backed shell vehicle called Vallar, into which Bumi, an Indonesian mining conglomerate, was then reversed. Ordinary investors ended up in a vehicle which was 43pc-controlled by a concert party made up of the Bakrie family, along with businessmen Rosan Roselani and Bumi’s chairman Samin Tan. The shares, worth close to £14 at their peak in May 2011, are now trading at 203p. At ENRC, the company’s three founding Kazakh shareholders - who controlled 44pc of the equity - took the company private for £3bn earlier this year, less than half of what it was worth when it floated in December 2007. http://www.telegr

It will be completely unacceptable if they buy back on the cheap, I can say I will be gutted and Jalaram will be right all along. Will definitely feel cheated!!!!!!

Bought 10k at 55.6, disappointed the share did not reach 50p, set to buy 50k, all on CFD. You have to be scarier in your comments, I am sure you can do better.

Yes, have faith in the long term. Every dog has its day!

I am still well in, keeping opinion to myself.

That post is by Shiffnrs not by Lidiard, vcchopra is right all figures are in USD. See Year 2013 accounts http://www.essarenergy.com/media/40686/eeplc_fy2013_prelims_june_2013_final_v1.pdf

I mean not GBP£804m

It is about USD $804m not GBP $804m

Parkside,13, I don't think the financing cost is £804m, I haven't got my lap top with me, will check on net and let you know,