Member Info for chinch

How do you know this newk?

Exactly Soder, I agree

Lots of very large buys at 10.23

Thank you Sasa,

Stuck with SQZ for all these years but as I have said I think a change of direction is required and needed. Grateful for what I’ve earned and only right to take profit. Still invested and cannot rule out buying back in.

Still have other holdings including Aviva which has had a nice rise today - Amanda Blanc and a powerful management team shows what can be done.

The meeting this morning with all the big O&G companies spells danger to me. Expecting some kind of additional levy or tax to come.

Atb

Agreed newk.

Government are under strong pressure to do something and getting all the main players of the O&G industry into a meeting means they want them to do something. Wouldn’t be surprised if they announced a further levy.

Atb

Sold half my holding this morning. BOD not or won’t do anything and expecting a further increase in the levy of some sort.

GL all

I've been consistent all along on this episode - critical of BOD

I posted 19th July:

My fear is that no deal will happen and AA walks away with an ageing bod just being able to do what they like and protect their own interests by way of additional shares. Bod have said they don’t want to go to main market yet but AA would take us into the 250.

Sasa,

Reading between the lines our BOD have dismissed the KIST offer out of hand with no negotiation even though they said they could see the logic. Why would AA make this up or effectively lie - he would have no reason to as he wanted a deal.

My point is that if no discussions took place then how do we all know what our BOD wanted. Interesting to see if any meetings took place which reading from the RNS does not. Yes I am assuming but it all plays up to our BOD wanting to keep their nose in the trough. No counter offer and not even a second offer from us just tells you that the BOD didn't want to negotiate in any form.

If I can get a decent price tomorrow I'm out. Made a very decent amount here which has meant early retirement at the age of 52. Shame to lose it all to an abject BOD.

ATB

So now Ed Davey has come out with this ingenious plan to recall Parliament and pass a bill which will include backdating the WF tax to god knows whenever. Choppy waters out there for any company making a profit.

I don’t agree. The SP has taken a hit probably due to the WF Tax not anything to do with Eigg.

That was 5yrs ago and nothing since

Revoy - if we are so undervalued why does the SP NOT reflect the true value?

Things can change very quickly in O&G stocks for a variety of reasons. Probably would have only taken another 80p to £5 and then I bet most sh would have accepted.

Sasa,

AA is a deal maker through and through. He’s not going to rock up and offer £5 a share as the first offer is he? Instead he made a very lowball offer and then quickly upped it. At that point our BOD should have engaged in conversation to see if a deal could have been reached. To not even discuss this with AA then a deal was never going to happen and head burying in sand comes to mind. Surely our BOD have a price they think it’s worth - why not discuss with AA and tell him that. If he couldn’t come back with the goods then all bets are off. To not even ask the question is not acting in our interests and Mr Market probably will view it the same.

You don’t go into negotiations with your best offer.

Our board then had the opportunity to counter attack and just couldn’t be bothered- that says a lot.

This whole episode has shown that they are not dynamic, no deals will be done despite MF continually saying we are open for business. Time for a change at the top to replace the ageing board.

But wasn’t even negotiated…..

Well said Dick - I’m sure that there are other people out their with larger holdings than me who might want force a meeting. Let’s hope so.

Lol Newk. Is it possible to call an EGM on the back of all this? To not even enter into any discussion tells everyone all they need to know about their ambition.

Sh want a main market listing, grow, acquire additional businesses etc. Not going to happen now.

What is more worrying that not one other Company came in to bid. God knows what’s going to happen to the SP tomorrow.

Jlite they have had 5 years to do any deal - the outcome today shows everyone and the market that they are not interested.

So as I thought (see earlier post) AA has walked away which to me is no surprise. I bet he is frustrated as much as I am as a SQZ shareholder.

Here we had an opportunity to grow and diversify the Company which is what the SQZ BOD have been constantly saying but then not to even discuss with KIST to me is a shambles. The BOD have shown that they have no interest in growing, they don't want a deal and quite happily keeping their faces in the trough. Our BOD should be ashamed of themselves and not acting in the best interests of us SH.

Ok the final offer of £4.24 a share might completely underestimate the value of the company but surely that would have grown with mergers and acquisitions that AA would have done. KIST will go from strength to strength while we will languish at the bottom of the sea.

For a CEO to say that Eigg has less than 50% chance of success and confirm this before the tax breaks is pure insanity. MF would rather gamble with a potential duster than do a deal that made a load of sense.

BOD will not learn from this. They will pat themselves on their backs and keep coining this cash cow by way of LTIP and salary. They are safe and will sleep well tonight whilst Mr Market might drop this tomorrow as we have shown no ambition whatsoever. Who loses - SH.

I'd say sack all the board asap and get some people who actually want to use a cash hoard to do something.

He won’t bid as he should have done it by now

Any thoughts why the Hardy’s are buying more?