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NKOTB, I think most long termers here know that the deal significantly undervalues SQZ. Some may think this is a convenient exit point though, especially the larger holders that would otherwise struggle to sell into the market without dipping the price (that's you Mr and Mrs Hardy!). But even then, I don't see why anyone would bite off AA's hand at a supposed 425p when much of it is not cash and therefore subject to tha vagaries of the market before the deal closes. Surely the sensible thing to do is sit tight and wait for what must surely be on its' way - a rival bid?
I won't take a penny less than 450p cash for the 220k+ shares I control, and have told MF this. Not exactly the clout of the Hardys, but I think holders should let our BOD know how we feel!
Let's see if anyone else comes out of the woodowrk over the next couple of weeks.
Putin at it again:
(from Telegraph)
"Putin has cut gas supplies to Europe through the Nord Stream pipeline just days after restarting flows, marking an escalation of the continent’s energy crisis.
Gazprom will cut flows through the link to about 20pc of its capacity from 7am Moscow time on Wednesday.
Flows restarted through the pipeline last week at about 40pc of capacity following 10 days of planned maintenance work. They’ve been at roughly that level since Russia first cut supplies last month."
Telegraph coverage:
https://www.telegraph.co.uk/business/2022/07/25/xi-jinping-can-cripple-western-manufacturing-click-bureaucrats/
Interesting post by lord gnome on advfn:
"I wouldn’t mind betting that Kistos desperation may have something to do with getting wind of another bid currently being discussed. The North Sea is in play and so is Serica."
I wonder if they ARE aware of other interested parties circling? Come on, show your hand chaps!
This might have an impact on future pricing:
https://www.telegraph.co.uk/business/2022/07/21/britains-biggest-gas-storage-site-course-reopen-autumn-race/
https://www.cmcmarkets.com/en-gb/opto/is-serica-energys-share-price-undervalued
I think we know the answer to that question without logging in....
This sums up what I think:
From tigerbythetail on advfn:
"Two thoughts:
1. It's a great operational update.
2. It's the RNS you hurriedly release to market when you're expecting a hostile bid and you want to ward it off."
Just been reading advfn bb. Might the rise in KIST not be due to leaks/speculation re. A.N.Other looking to bid for them? As UO suggests, Ineos could snap them (and us) up without any indigestion and they have already said they are looking for fossil fuel assets.
That would put the "cat amongthe pigeons" ! :-)
I do know the answer thanks - if the exact proceeds are reinvested in another qualifying AIM share immediately, the exemption continues.
For me SQZ is a great investment anyway but the IHT exemption will mean an additional 40% return which is serious money on well over 200k shares. Clearly if SQZ move to main market or are taken out by a main market company, I would need to sell up to keep the exemption.
I don't know how old the Hardys are but I bet the IHT exemption is very attractive to them. Or their family at least! :-)
sasa, I generally agree with most of what you say, most of the time but can't let this go:
"moving onto the main mkt as an advantage (not a silly 'IHT loss' reason not to do so) and thereby gain genuine Institutional interest in us"
Silly IHT loss reason? Seriously? That "Silly IHT loss reason" stands to save me and my siblings several hundred £k if SQZ stay on AIM. So not that "Silly" eh?
NewK, I completely agree with your sentiment. The Hardy's are clearly smart people so I can't understand why they wouldn't angle after an increased offer from AA, before agreeing to side with him. For me, I would be content with 450p equivalent. I still think that undervalues the potential of SQZ (even without a hit on N Eigg) but there currently SO many undervalued opportunities in the commodity sector that I would be easily able to recycle funds from Serica to elsewhere.
So, what if Ineos joins the party with a bid for SQZ?
https://www.telegraph.co.uk/business/2022/07/16/jim-ratcliffe-rides-energy-crisis-ineos-bets-big-oil-gas/