Member Info for Canchat

ChittyBB Your statement :- 'No way would I put it in an ISA.'
Why not? What is wrong with an ISA: all my shares are in my ISA.
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DaveT1,

'The only published 'facts' about Wressle point to there being a whole lot more oil down there than any of the published facts'.
That sounds somewhat of a contradiction!

We would all like to believe that there is more oil!!
BUT, any speculation is currently speculation; I hope you are right?
I would not tempt fate and I am just sitting here quietly and keeping my fingers crossed.
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Grey Panther - Just caught up with you 22 Dec post - 'From where will Rathlin get the money?'
Will they dilute their share 2/3 - maybe UJO will help them out?
Rathlin need cash or a smaller involvement.
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TAC/Anyone, Based on reserves and assessments how long will the money roll in like this? Does it require a boost?
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The one subject that upsets most PIs SH is the ‘Bonuses’ awarded despite poor historical results.
My question is: -

‘Would S & S be prepared to substitute options at the then current price in lieu of a cash bonus. That would shew alignment with SH interests’.
Sent as a question for next Tuesday.
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Dividend 76p SP 1122p = 6.77% Yield
17 Nov. Half year results due. BUY!!
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Thanks JOkingU, I missed it, agreed, you are right , I should have said 'can' instead of 'will'. SP and the authorised SP limit will no doubt determine the quantity that UJO buy. What do you feel will be UJO's maximum purchase price. I can't see UJO acquiring 10%, Can you?
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Can anyone advise me if they have seen within UJO's Capital Allocation and Distribution Policy criteria and whether that polcy defines the maximum number of shares that the company will buyback? (One question) - Have I missed it?
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I, like others (monet2), are concerned about a New board issuing themselves free shares. In the question time I would like to see S & S convert their bonuses into options at the current SP. It is difficult for them to remove the 'snouts' moniker. If we are that undervalued why hasn't someone else arrived with a bid? I fear the NEW board will win but I think that I will stick with S & S if they make some decent promises to us suffering PIs. What to do?
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Surely everyone realises that the £4m dividend proposed is 'your own money'. It is a case of taking it out of the RHS pocket and putting it in the LHS pocket . The disadvantage is that some pay tax on it. It is a con. in this case!
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Canchat correction - I missed out JUST - Line 5, ishould read just above 31.50p. CHAT

monet2, well explained. Not yet posted on lse but the maximum price paid was 31.65p. On that basis I think that we can assume that UJO have now drawn a line under the SP.
Provided there are sufficient shares available, SP Angel will pick up any above 31.50p; March forward!
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GP, I like your metaphor and I am not a fan of S&S. I just wanted a third choice (to sell at a premium to the recent SP) for the owners (shareholders) of the company. I have a feeling that the 'new board' is going to suceed. I just hope that they have passed their advanced driving test and do not want to milk the company?
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Deleted - ' take over' subtituted 'action'. CHAT
The proposed 'action' is akin to walking on to your neigbour's drive, opening his garage door taking his car, driving the car without his permission knowing that he has a full tank of diesel!
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https://www.lse.co.uk/rns/EDR/notice-of-results-and-investor-presentation-pj4yen4ozc8hf4x.html
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Uggy & SelfMcN - Yes I know it is not a T/O; the only difference I can see is that the S/H don't have the usual choice (premium) to consider!
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Hi SelfMcN - I should have said Pershing Nominies, you are right. My point was why should anyone replace the existing Board at no premium. The 'normal' process to assume control of a company is, as you know, to acquire enough shares and to obtain support from the existing shareholders. One does that by buying up shares (result, the SP rises) thereby obtaining a decent holding and then offering the existing shareholders a premium to sell their shares for cash or to exchange them for shares in another 'vehicle' company. That allows shareholders to make a judgement. The way proposed is basically a no risk strategy for the acqirer. They would be getting control of a company which is backed by cash for virtually no risk to the detriment of the existing shareholders. Many SH are 'under water' with RBD and should have a chance to bail out to maybe to break even.
The proposed 'take over' is akin to walking on to your neigbour's drive, opening his garage door taking his car, driving the car without his permission knowing that he has a full tank of diesel!
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If Pershing want RBD let them put their hands in their pockets and make a BID; that is the correct thing to do! Mellon can supply the cash.
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TAC, As you no doubt know a share by back can result in either UJO holding on to the shares that they buy (put them in treasury) or cancelling them. I suspect that if the price is low enough, as now(?) DB would do the former and generate a profit on sale at a later date?
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TAC - Market Cap. £30 - Revenue say £9m per annum - DB in charge - Buy back I like - Dividend to tempt II - Why would anyone sell their shares? - Am I missing something? - What not to like?
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