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Q10-A production resumes.
RRE couldn't really afford Marathon either (on paper) when they did the deal - but they did. RTOs happen all the time. Not saying SQZ is or is not going to happen, but we have seen AA pull deals out of the bag before.
And another acquisition.
In my opinion the dilution is priced in....but I guess we will find out.
I suspected PrimaryBid was being used a week or two ago as Hargreaves Lansdown emailed me to say they know I have a PrimaryBid account and that I needed a General Investment Account open. In short, the shares should go into a GIA account, not an ISA
Buys streaming in and momentum gaining. Here's hoping our leader delivers a deal this month!
Exactly why I'm in. I was in during the RRE 2019 suspension on the Marathon deal and I wouldn't be surprised if any new KIST deal is announced as an RTO resulting in a suspension. The relisting day for RRE was one of my favourite investing days to date.
I'd hate to be sat on the sidelines when a deal is announced.
If you think it's pricey now just wait until the first deal is announced. The way I see it, you're paying for the opportunity now. Any deal and current prices will be written into the history books never to be seen again.
They might have another use for that money
Just read the opening lines of the RNS. The board has agreed the price at 1850p
Not me - I'll set a sell order at 1850 just so I'm out early. Not that I think it will trigger.
It's been a good ride and I feel Vario has got a bit of a bargain - but so be it.
We are being taken over:
The boards of directors of Viaro Energy and RockRose are pleased to announce that they have reached agreement on the terms of a recommended all cash offer pursuant to which Viaro Energy will acquire the entire issued and to be issued ordinary share capital of RockRose (the "Acquisition").
· Viaro Energy is a UK registered company, headquartered in London and is a wholly owned subsidiary of Viaro, a physical energy trading group with global commodities trading activities and interests in energy sector support services and upstream asset development. The Viaro Group has offices in Dubai and Hong Kong.
· Under the terms of the Acquisition, each RockRose Shareholder will be entitled to receive:
in respect of each RockRose Share 1,850 pence in cash (the "Consideration")
· The Consideration represents:
o a premium of 64 per cent. to the Closing Price of 1,130 pence per RockRose Share on 3 July 2020 (being the last Business Day prior to the date of this Announcement);
o a premium of 91 per cent. to the volume weighted average Closing Price of 970 pence per RockRose Share for the three-month period ending on 3 July 2020 (being the last Business Day prior to the date of this Announcement);
o a premium of 69 per cent. to the volume weighted average Closing Price of 1,098 pence per RockRose Share for the six-month period ending on 3 July 2020 (being the last Business Day prior to the date of this Announcement); and
o a value of £247,575,824.50 for RockRose's issued and to be issued ordinary share capital.