Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
A LTH but not a regular poster.
If not today then sometime this week we will hopefully receive the news we have waited for.
This once darling share has been in the doldrums way too long. Lets have some stonking news and start the final leg of this journey.
Best of luck to all.
Not so sure. Every day that neither declare themselves out is a bonus to me.
Its easy to walk away from a deal. Calling it wrong and buying with big money at stake then they would be castigated.
Saying its not for us is no risk.
But no risk no reward.
These big PE guys dont mess around. 14 trading days left.
Palms will be getting sweaty and bums will be twitching.
Still no idea how it will play out.
Of course we all wish for an LE at crazy multiples but just imagine no Major comes along and sweeps us off our feet.
What do you imagine the scenario that will play out?
I am in no particular hurry, i need my retirement sorted in 20 years (hopefully sooner) so if we had to sell our hydrocarbons on an ongoing basis it wouldnt break me.
We have proven resources, we have commitments regarding the BOOT.
From todays SP surely we will all make some money.
As per my title, how does this sit with investors?
Fully prepared to be ripped BTW. Just wanting to gauge sentiment.
Everything is on its arse at the moment.
I have a few shares that are at critical stages but with nothing substantial that would devalue them but they are down.
Saying that i saw decent recoveries on Friday.
The clock is ticking towards 5th November. Every day that neither party pull out is a positive to me.
Is it a case of who will blink first?
As i have said before as an employee and an investor i am really torn over the outcome.
Besides the sheep rushing in and out without actually knowing what they are doing with their cash this seems to have found its level around 800p. Personally can't see much volatility for some time closer to 5th November.
Unless of course one of the parties drops out or an offer is tabled.
Clear post, highlighting the salient points.
Both parties still in consideration is a big factor.
Trading update, it is a strong company, revenue and returns consistently up. Sure debt is high but manageable.
$ to £ will just make us a cheaper takeover. As long as i get my multiple £s.
As to shorters there were so many RNSs flying around i couldnt keep up.
Im no expert but i have some experience but some of those 8.3s and 8.5s had my head spinning.
All i know is i am sticking around, i am an investor not a trader. Buyout or not.
I am looking to gather funds on the chance no offer is tabled and i will pump any spare coin in.
@Mardler the SP is telling me that many reacted too quickly when there was no RNS at 7am thinking no offer was forthcoming not considering an after hours RNS before the 5pm deadline.
Panic ensued and it was oversold then continually recovered from 10.30 on.
I honestly cant see why you say "The market thinks it unlikely either will make a bid, and if they do that it will not be much above current market price." After the initial announcement the SP has ticked up and down in a similar range. This morning it opened at 813p then obviously dived, recovering to 780p. Then we get the RNS after hours.
Excepting the panic today the market is pricing in a potential bid, with some margin if one is not forthcoming.
I still think a nice round £10 offer.
As an employee and shareholder i am somewhat torn. But purely from an investment angle i thought the extension is a positive. A tabled bid would be great but i suspect neither want to blink first.
@gammybaby, it wouldn't surprise me though. This share game is enough to send anyone loopy.
Not sure I would describe it as exciting when I have my employment, my pension and a pretty significant quantity of shares all in this company. I am torn over which outcome I would prefer. A nice profit on the shares would be welcome but the ripples from the RPC takeover of bpi are still being felt.
I wonder if no offer is tabled if we could see as low as £6. It would be a huge over reaction if it did but that seems to be the way of the market nowadays. People don't want to seem to want to invest in solid profitable companies but chase rainbows and when theres no gold today they go chasing the next one.
GLA.
@gammybaby thought you were turning schizophrenic there. :)
Of course that can always be the case but I would have thought it would be the exception rather than the norm.
Plus with two parties showing interest and neither declaring that they are pulling out then that should increase the chances I would profer.
They can only release an RNS of this magnitude out of market hours.
For me, any discussion that has no hope wouldn't usually go to the last day. So they would know by 7am this morning if there was no chance of a deal. Price sensitive news has to be released at the earliest opportunity.
There will be an after hours RNS. It could be two no's, one no one yes, or even two yes's. The finalised deal doesn't have to be tabled to extend the offer period.
Would either of them want locking out of any approach for the next six months when chances are if no offer the SP drops giving another party a cheaper entry.
I guess we will know in 3-3.5 hours.
It is still a sound business with decent dividends.
A cheap buy for someone if they look beyond the short term anti plastic sentiment.
I am maxed out on my sharesave anyway which is locked it at a fixed price.
But any significant drop on no offer im back in tomorrow morning with a few grand more.
Its a binary decision but I suppose it depends on your average.
Certainly no rumours down at our level, in either direction.
I expect the MMs to absolutely batter the SP today, smart traders will be looking for their 10%s.
This will be up and down and all over.
After hours RNS one way or the other. As an employee and shareholder it will be a worrying one to open whichever way it goes.
Guarantee though if there is no bid the SP will crash and I will be topping up.
Whilst that would be nice I can't see it. The prevailing SP before the approach was £7ish although that was depressed. £10 more realistically if any offer is made.
What was your average if you don't mind me asking?
I am an employee of RPC and had not heard the slightest sniff of these approaches. I am a lowly engineer though unfortunately.
Have a decent amount of shares so yesterday's news was welcome from an investment pov, a little concerning from an employee pov as we are still in turmoil from the RPC takeover of BPI.
Looking back, when BPI were bought out there was a circa 30% premium on the SP. Similar here would put us back around £10. Pretty much where we started at in August 2016.
Definitely a vote of confidence.
Hopefully the shorters will start getting panicky and that will keep the momentum going.
As expected there came the vitriol.
I don't post as I don't have anything to add but I am heavily invested so do check in regularly.
As if the number of posts from a member is a guide is a guide to integrity.
In this instance however I can confirm the contents of the emails purportedly from JP.
Believe it or not, truly could not care less.
Now these magic beans you have,.......
Okay leaving myself open to the vitriol of MK but I have seen the screenshot of the email from today.
Or rather two emails. First one said he was with Enagas in Madrid. Second said he "will enjoy a Spanish beer later. Meeting OGIF for dinner..."
Direct quote.
Depends on the date of the court hearing. All will be outlined in the paperwork. 2.7? In at 19p but staying put.
So on the 20/12 GS went over the 3% holding. On the 21/12 GS went over the 4% holding. Am i reading that correctly?