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Someone significant (ie not me!)has realised that BT is grossly undervalued. With the capacity to dominate its home market in broadband and the most mobile phone customers via EE, it should, if evenly moderately well run be worth far more than the current MC of ~£18bill.With the departure of Du Plessis and the hope that Jansen is at least moderately competent (and if he isn't he will be under huge pressure now from Drahi and DT)and the commitment to ramp up fibre, even if it takes a partner to fund it (is that Altice's plan?), I can foresee a significant uplift in the company's value . I don't do guesses as to SP but I have been adding to my already fairly large position over the last twelve months . Todays news is good but merely confirms the rerate that has been going on since last summer , but I think there is much more mileage in this . There will be SP falls from time to time but BT is a cash cow with prospective annual revenues in the £25-30 bill range and income of £3bill+. that should drive a market cap of £30-40 bill within a few years. if you want a SP estimate you can work it out based on those figures!!

Wether...click on BT.A share charts - above on this page, you'll see the volumes bar in blue below the SP graph.

Altice now hold 1.2bill BT shares (12%). There was a huge volume day on Monday, 480 mill, but apart from that nothing out of the ordinary, except a steady rise in SP. Quite how Altice have manged to accumulate that many without an RNS before now is a mystery. My only guess is a recent "off book " buy from another large holder who will have to notify soon. Should be a positive for the SP , but as ever those in the know will have already been aware of what was going on so expect a gentle bounce from here. As a long term holder I'm reassured that others believe that BT is good for more steady upward progress from here.

Munin looks like you're right , I have just checked the SAE website and the directors are listed on this page https://simecatlantis.com/about/board/

As it happens I recall making a positive comment on the appointment of Hambro back in 2018?, he has a long city track record (though that in itself is not always a positive). It's a lesson for me in going to source materials where possible!!

Isas..... AFAIK GFG have never taken up the option to appoint directors ,In retrospect I wonder whether GFG's involvement with SAE was more about convincing the Scottish government of their good intentions (see Fort William escapades and SNP's generous offers).
The current board members are as shown, with date of appointment (as per FT)
Graham Reid Chief Executive Officer, Director -- 2021
Stephen Hutt Chief Financial Officer -- -- 2020
Andrew Dagley Executive Director -- -- 2017
Duncan Black Non-Executive Director -- 2013
Michael Lloyd Non-Executive Director -- 2013
John Woodley Non-Executive Director -- 56 2008
Ian Cobban Independent Non-Executive Director -- 50 2015
Officers and Directors data as of Jun 06 2021

Todays news is no surprise, as I pointed out a few days ago the court order was to reduce emissions to a level just within the envelope of RDSB's current plans. It should cause them relatively few problems to meet the courts needs , it scores well with the green lobby and as is obvious ,has had almost no discernible impact on the SP. The SP action over the last twelve months or so is almost entirely attributable to Covid, and as the crisis passes, business and commerce recover all over the world, it will IMV return to a level appreciably higher than now. The company's product will be in demand for years to come see
https://www.spglobal.com/platts/en/market-insights/podcasts/crude/060721-iran-sanctions-henry-rome
and RDSB has produced a return(500%) equivalent to UK housing(450%) over the last twenty five years . I expect the same for the next twenty five!

Johnny ....you posted

" will be deciding if a 90ft wide beam boat is too big for the UK canal network."
Might read better as
"will be deciding if a 90ft, wide beam boat is too big for the UK canal network."
You're partially forgiven , it's your punctuation that needs work as well as your estimating!!
perhaps the"£7", might read better as "£1.70", a much more medium term estimate for RR.
I shall return to this discussion in 3-5 years time.

Johnnytwo.... your estimate of 90ft width for UK canals (REAL width limits average 14 ft)is almost exactly the same margin of error as your price estimate for RR. How strange is that!

Milk... fair point about the term "placing" , I should have said "off book transaction" . The point remains tho' that whatever happens, while it may have no effect on the business, it will affect the SP , your comment "Offered to LTH's .... AT A GOOD DISCOUNT (my caps )" (to an already depressed SP) means that ALL the shares will default to that value or near it. LTH's can hold through all this , or sell out and return when the situation clears , I know which I believe to be the sensible strategy.

Says very little but the significant para is this;
"Separately, SAE has been notified by the receivers that an application has been made by them to seek a waiver from the Singapore Securities Industry Council which requires them to make a mandatory general offer for SAE under Rule 14 of the Singapore Code on Takeovers and Mergers arising out of their appointment as also referred to in that same announcement."
As I suggested in a post on 18 May it looks as though amongst all their other far more major infractions , GFG(and SAE?) were in breach of the Singapore takeover code since the day they (GFG) took a stake.
What this means for SAE is not clear (at least to me!!). In simple terms the receivers have no intention of using whatever cash there is sculling around in the remnants of GFG to buy out SAE, before presumably trying to unload the whole thing. I assume therefore that the receivers only option is to offer the shares(current value ~£18mill) in GFG's holding in a placing to more than one buyer, or drip them out in to the market??? in order to allow SAE to continue as a viable, funded entity. As I have said before, a forced sale does not fetch a high price, but if others believe that there is value here especially at a knock down price, SAE may well still have a future . When the dust settles I will buy back in.

Hi Grippa for RDSB the choice of whether to appeal is finely balanced. If they do appeal, it keeps the carbon issue in the public eye and makes the company seem resistant to environmental improvements. As they have already set out a fairly robust strategy for carbon reduction, and as I said the Dutch judgement more or less mandates them to hit that target but exerts no pressure to accelerate it, they have got little need on business grounds to seek to overturn it . To my mind the big issues is , whether flushed with (apparent ) success the green movement seeks to go back to court to turn the screw, or whether there are further actions in other jurisdictions . I think that latter is unlikely , the greens know that bicycling Holland is a pretty green environment (and choose to ignore the way Dutch tax rules legitimise profits transfer to minimise tax by multi nationals- hypocrisy is everywhere!)
If I were Van Beurden , I might be inclined to let the dust settle , noting that the original application to the court was in April 2019 , there is never a rush in these matters, accept that such actions will occur from time to time but assume that as the existing Shell strategy takes effect and the company edges away from extracting oil over the next decade or two, there is enough time to get the change plans executed .Even the Dutch court accepted that oil usage isn't going away soon . I think we'll still be using oil for decades , though eventually it will all be for materials rather than energy. As an investment I still see Shell meeting my 10% per annum more than inflation target for a good long time yet and as part of a balanced portfolio is a safe bet.

It's taken me quite awhile but I have finally read the proceedings of the Dutch courts which culminated in the decision of 26 May. Despite some exceptionally spurious reasoning which allowed the Dutch court to claim jurisdiction and a blind assumption that everything said by the IPCC is accurate , (though this has been proven not to be the case on many occasions ) the main element of the courts decision was this :
The court
"orders RDS, both directly and via the companies and legal entities it commonly includes in its consolidated annual accounts and with which it jointly forms the Shell group, to limit or cause to be limited the aggregate annual volume of all CO2 emissions into the atmosphere (Scope 1, 2 and 3) due to the business operations and sold energy-carrying products of the Shell group to such an extent that this volume will have reduced by at least net 45% at end 2030, relative to 2019 levels;"
Interestingly enough that judgement is almost exactly the maximum level of reduction specified as their target by RDSB in their submission to the court!
Despite the reaction to the court decision by green groups it is the reaction of the RDSB SP which illustrates it's significance, ie almost nothing.
I have been a holder here off and on since the company was known as " Shell transport and trading" and have made substantial profits both via the divi and SP appreciation. while it is inevitable that environmental pressures will bear, it is interesting that the Dutch court also said
" The following, not-disputed circumstances to which RDS refers are incorporated in the consensus about possible reduction pathways which the court has included in its opinion:

-
the permanent role of fossil fuels, also acknowledged by the IPCC and IEA, in order to meet worldwide demand for energy during and after the energy transition and beyond;

-
fossil fuels cannot be dispensed with, at least at the present state of technological progress;"
I conclude , therefore that the markets are correct , the Judgement whatever it reception by the green lobby is almost irrelevant , no more than a bit of grandstanding by a few Dutch judges , seeking some publicity .
I will retain my holding her and expect to do so for some considerable time yet.

The usual Merck hype but the numbers look solid and I believe that SONG has actually set in train a fundamental change in the way music rights are valued , the growth of streaming, use as background for film and TV and now games has increased the value of music rights significantly. The problem now is that bigger players(see Pershing bid for 10% of UMG, valued at $40bill) means that acquiring additional rights will get more and more expensive, though it also means that SONG's catalogue is more valuable than the sums paid. As a long term investor I am happy to see this one tiptoe up while paying useful divi as it goes. I still think there is a good deal more exposure of this market to come and wouldn't be surprised to see a takeover offer in the medium term .

777...
This is is a full stop .

bot.rot by your calc. you claim to hold ~1.2 mill RR shares . assuming that constitutes < 5% of your folio(and if it doesn't then we all know your portfolio management needs attention) then you must have assets of £20 mill plus! that creates three questions in my mind :
1 Are you full of S**T ?
2 Are you a fantasist in need of help?
3 Should anybody take the slightest bit of notice of your ramblings?

I come up with two yesses and a no, can you solve the puzzle as to what my conclusions are?

Mine are in my III account, and I offer a note on the SP. At best, it would be possible to turn a <3% profit by investing in the placing and selling now . NO major investor will do that. If the holdings data has changed , relevant investors, (over 5% ) have , IIRC, only two working days to declare , so any such news will be forthcoming very soon. The SP (IMV) will hold at or above the placing price and the benefits of the application of the cash should be seen and possibly reflected in the SP in a short time .
I see this as a long term hold , even if I am called to put up more cash in the future, the companies strategy is cash intensive and significant revenues are still some way away, but more probable now than before the cash raise.

HI adv... haven't yet read the results fully but remember that NRR normally pay divi quarterly so likely to be 12p for full year in the not too distant future and that they say they will definitely sell Hawthorn, likely price £180-£200 mill base on recent pub sales at ~£200k each . thus they should be within their commitments for Debt:EBITDA , divi cover and gearing so the future looks much better than the recent past . At SP of ~105p, the divi looks like being 6-10 %pa , you ain't gonna find that elsewhere, even if the SP doesn't move up too fast .If you are suffering losses this is maybe not be the time to move on , but as they say DYOR and good luck.

SD...In the light of moves to release the hospitality trade from it's chains it may be that NRR decide to hold on to the Hawthorn estate, unless a very attractive offer comes along, they are not averse to selling at what they perceive to be a good price and maybe they see better uses for the cash elsewhere, there must be some juicy distressed assets knocking about.
I will listen in to the conf. call this AM and report back. There should certainly be a divi. announcement soon.

Hi Posti I've been an investor for over thirty years and after the usual wildly over ambitious targets and some fairly hairy events , I settled for the objective of growing my pot at inflation plus 10% per annum. I have been able to do that with pretty unbroken success for the last twenty plus years.
I do that by putting the maximum in to an ISA for Senora Casa and myself every year , hers goes in to funds , spread across the UK , the USA and the far east and a percentage in "defensive "funds like Ruffer or Trojan, which though they perform less well in the good years come in to their own in the down years , which as you know happen more frequently than we all would like. The benefit of this approach is that it eliminates the need to time the markets and the dealing costs incurred in frequent trading.
In the ISA in my name I invest in large, soundly based companies in growing or at least stable areas of business, often with good dividend streams(all tax free)and steady , if unspectacular growth . If you calculate 10% pa growth over a decade , it comes out at 170%, good enough for me.As an example (and definitely not advice!!) see my current folio :
https://uk.investing.com/portfolio/?portfolioID=Y2c2Z2UzMWo%2FamBpN2Y5Pw%3D%3D

You will note that it contains an number of large US companies and I would advocate at least some exposure to the US , over time it is an (almost)certain growth market.
As someone who absolutely loves the challenge of unearthing " hidden gems " I also have a smaller folio of small companies in potential growth areas , BUT that is strictly for entertainment and fun and constitute less than 10% of our total invested, some of those you can find if you bother to look at my posting history. My final point would be to not obsess over short term movements , even holding my folio through all of last year has cost no losses, to spread your investment so as to minimise the danger of a major catastrophe , and not to panic when things go sour . if you choose wisely, or mostly wisely , you will be much richer in a decade.
Good luck

Having not read this board for while , can I offer a couple of points to clarify some of the (IMV )misunderstandings of the last few dozen posts.
First the Hawthorn sale which has been talked about in the press (see my posts of 17 may ) MAY or MAY NOT happen . That would depend on NRR getting a price they considered adequate and a willing buyer at that price. IF the sale took place NRR are on record (via the ST ) as saying
" NRR plans to use the proceeds to pay down debt."
so there will be no special divi.
Next a scrip divi is an alternative for shareholders to take shares in lieu of cash at a normal divi , IT is NOT a special divi, and the option tends only to be offered by larger FTSE 100 type companies because it is cumbersome , but for large companies can save a significant drain on cash reserves.
Finally, todays Sharp(ish) SP rise MIGHT indicate that an announcement is in the offing.