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Whether or not JCEP him/herself participated, isn't the very assertion that there has even been an equity raise involving existing shareholders or the public (as distinct from e.g. Exxon or Vitol) getting uneasily close to a breach of the insider rules?
Seems not to be universally popular. Our social media friend posts this:
Agreement imposed by Esso-Chad on its employees. A document was signed under duress by the committee spokesperson on December 14 at around 7 p.m. at the MFPT office. This document emerged at 9am this morning in front of national television cameras where I had accompanied the spokesperson who had received the minister's invitation not knowing what awaited us there. The journalists were instructed not to interview us except for the Minister and the [film] director [it seems the protesters are making a documentary about the saga]. Fiction movie? No, reality in ???? [that's the Chad flag].
Are the assets themselves going to be acquired free of debt? We should know soon, but meanwhile I’d have thought it a bit risky to so assume.
I worry slightly that it could also mean that SAVE takes over responsibility for the fire damage - by which I mean that, if the insurers don't cough up (e.g. on grounds of negligence??), SAVE picks up the tab. Hopefully all will become clearer with the RNS.
komakino - thanks, could you give the link?
Zengas and others - Presumably it will be important for AK to get the local workforce onside - that is, those who were in dispute with Esso and then laid off - rather than rely long-term on imported labour. On that basis, it would be helpful to get their perspective on yesterday's news. Could you post any comments on FB, LinkedIn etc that you may find? Thanks.
TT - On your calculations, shouldn't that be £109m over *three* years rather than two (2022, 2023 and 2024)?
This paper is old (Jan 2020) but looks interesting. I'm not sure it has been picked up before, either here or on the other board: apologies if I'm mistaken.
https://library.fpinnovations.ca/media/FOP/TR2020N3.PDF
Thanks H. He's perfectly entitled to his views. But when he flings round insults, as you say, class is conspicuous by its absence and it simply gets boring.
CB - That's it. Enough of your offensive language. Filtered.
CB
Change the record. If you disagree with someone please don't **** them off, it's no skin off your nose to do it politely instead and it preserves the tone of the board for others.
Sorry IZ, crossed with yours
On the acquisition of Seven Energy, SAVE's shares were suspended on 8 June 2017 and the suspension was not lifted until 22 December 2017.
The current edition of the AIM rules is at https://docs.londonstockexchange.com/sites/default/files/documents/AIM%20Rules%20for%20Companies%20%2801012021%29_1.pdf. I can see nothing in them that stipulates that a suspension becomes a cancellation if not lifted within six months (and there must surely be a distinction anyway between "bad" and "good" reasons for suspension), but others' eyesight may be better than mine.
Collins Aerospace became its own identity in 2001 when it was spun off from original founding organisation, Collins Radio. ***Now employing over 68,000 employees***, Collins Aerospace has established itself as a leading provider in flight control and communications technology for the commercial and defense aviation industry.
Could you two stop the sniping? Please?
That said, I've been looking at the 2021 results (RNS of 3 November) and am intrigued by the turnround in H2. On my back-of-an-envelope estimate, the automation and test systems division (QM, TED and Weston) made a pretax profit of £450K or more in Q4 alone. This year, assuming the other two divisions collectively manage to break even, PIP as a whole should be capable of producing well over £1m profit pretax, perhaps even £1.5m. The tax charge should be negative because of R&D tax credits. Given the claimed prospects for future growth, on a market cap of less than £5m (c£7.5m fully diluted) that doesn't look altogether unattractive.
JMcJ - I'm not 100% sure, but I think it went something like this: GW paid PIP the £197K upfront, i.e. before the sale was completed, rather than on completion as you'd expect. (I'm guessing that PIP may have had some cash flow issues at the time.) Initially, that was treated as a temporary increase to GW's loan: then, on completion, the loan increase was wiped out and PIP retained the £197K as consideration in the normal way.
All past history now, but I think we must accept that PIP is in effect a vehicle for GW.
Chad: authorities come down to Miandoum following the fire at an oil site
6 November 2021
The provincial secretary general of Logone Oriental, Ngana Djékila, accompanied by a large delegation, paid a visit to the Ngalamba oil site near Miandoum to see firsthand the damage caused since yesterday by the fire.
After some expectations due to security predispositions, the provincial secretary general and some members of his delegation were treated to a guided tour of the tanks damaged by the fire, which was only brought under control this morning by the Koudalwa technical team.
At the end of this visit, Ngana Djékila, representing the governor, primed us on the purpose of this trip. For him, the causes of this fire are not known until now.
He deplores this situation causing an economic loss for the country and reassures that analyses will be made in the days to come by experts to measure the various consequences of this phenomenon on the life of the populations surrounding this site.
The provincial secretary general calls on the inhabitants of the surrounding villages of this site to exercise restraint because for him, calm has returned.
https://www.alwihdainfo.com/Tchad-descente-des-autorites-a-Miandoum-suite-a-l-incendie-dans-un-site-petrolier_a108567.html
One's left wondering what is fake news and what isn't. On balance I tend to think that the fire was probably real after all. Whether it was sabotage, or what, is another matter.
S20 - Brilliant, many thanks for posting this, but you left out the all-important first word from the headline!
" IF Qualcomm acquires a DMS player, we think Seeing Machines is more likely than Smart Eye"
maximus - Be my guest - but the OP started with an assumption ($50m IPO) and from that, concluded that the value of TEK "should be" £x. All I was doing was to point out the logical fallacy of drawing *factual* conclusions from *blue sky* assumptions.
We can "best guess" all we like but, as I say, time will tell. And looking longer term, the IPO is only a snapshot anyway; what's really of interest is that Lucyd (and the other TEK investments) should prosper and become profitable. Or get sold off, of course.
Old Spanish proverb: Patience fleas, the night is long.