Member Info for chilting

The book build is open to all institutions, not just major shareholders, but not private investors - its not on Primary Bid.

If I was being cynical - which I am - I would say AB has launched the Accelerated Book Build this morning, ahead of the OPEC+ meeting, in the hope that there will be a low take-up, so that he can pick up a bucket-load of cheap shares at 19p.

Pelle
The shares have been offered at a fixed 19p - if it is oversubscribed applications are scaled back for all applicants - if it is undersubscribed AB buys the balance.

Not sure what will happen to the SP - the acquisition is good news because the pot gets bigger and the deal was negotiated before Brent started to accelerate.
But, why announce the fundraise today, before the OPEC+ meeting - no one knows the effect that will have on Brent yet.

Just checked Primary Bid - the Accelerated Book Build isn't listed, so it doesn't seem to be open to private investors and shareholders - the process usually only last a few hours, so will probably be over by lunchtime when we see the prospectus.

So its split in two -
The placing is an accelerated book build open to all and has started for the first 5%
The OO is for existing shareholders for the other 5% at 19p per share - 5 new shares for every 89 held.

Dilution is 10%

Clear as mud.

Back luck Pelle.

Good luck Sweden - I hope you win big - this time!

It will be interesting to see what DE Shaw do now after two strong days for the SP - they came in on the 23 March when the SP was 2104p and are currently up £135.09m - maybe we will see them closing now?

Overall hedge funds have lost £901.3m with Ocado - DE Shaw are one of the few winners - so far!

It will be interesting to see what DE Shaw do now after two strong days for the SP - they came in on the 23 March when the SP was 2104p and are currently up £135.09m - maybe we will see them closing now?

Overall hedge funds have lost £901.3m with Ocado - DE Shaw are one of the few winners - so far!

The one good thing is that the prospectus has to be published.

That will give investors rather more info than we have had on the company for some considerable time - especially the debt figure - and assuming Brent is still rising we should see a positive response from the SP - hopefully.

Profit taking will be limited - many recent investors brought in well above this level.

Interim results are due from Ocado Group next Tuesday 6th July - this should give M&S a lift because they will include news on Ocado Retail.

mrc
We hope its less than 10% - nothing is certain.
Its only when a companies SP is flying high that equity issues are easy - Enquest is still well undervalued so the dilutive effect is magnified - its probably investors who buy in after the OO who will benefit most.

Looking at the charts, it may not seem it, but June has been a good month for Enquest - the SP started the month at 17.1p.

It was May that was the problem, although Brent was volatile at times and there was a nasty dip it did show all the signs of a bull run but the SP was flat.

So why was this the case?

The update on the 12th May was awful and gave the market no new info on the company, it simply highlighted the production dips compared to 2020.
Also it gave no reduced debt figure - even though Brent had risen $16 during the period.
After the update volume was very poor and it didn't recover until Brent took off at the beginning of June.

Heavy industry located in areas where it can take advantage of power from renewables will become an established trend but these industries do need a reliable supply of power 24/7 that they don't always get with renewables.

So, I see projects like this one being the biggest market for green hydrogen adoption over the next 20 year period in locations all around the globe.

According to Reuters it was rising Covid cases that knocked Brent back today - this is a good round up of where we are now -plus, the big surprise is that Russian output is falling.

https://www.reuters.com/business/energy/oil-strikes-2018-highs-demand-recovery-iran-nuclear-talks-2021-06-28/

Its now or never to buy in here for the next ride up.

The two biggest shareholders have filled their boots - most of the contributors to this board have filled their boots.

DYOR but this is a no brainer.

Yes, finished above 2000p - I never doubted that it would.