The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Morning KK ... the more I think about it, I'm sure the WH Ireland valuation is very significant ... it's totally out of character and written in a way that says to me that they were asked/persuaded to achieve that sort of number
Does anyone have a take on the WH Ireland valuation ? Nothing is done without good reason ... I'm torn between two possibilities, either this is the target share price after dividend anouncment, say 6% of 21p = 1.26p for 2022 with a good chunk of that first to kick start it ....... Or are they going to do a company purchase of shares off market at 21p from somewhere in the WCP, I can't find anything in company law that tells me they can't buy off market price at any price they like.
I think one or more of the deeps are ready to flow ... But they definatly don't want any more volume or the share price to go up at the moment, I hope this is due to the up and coming application to remove the share primium account etc ... Interesting in't it
Afternoon cc
From June interims ... Share premium is $ 249,007,000 - Deffered $64,702,000 - RE is Negative $ 221,479,000
+ Other stuff gives total equity $ 57,525,000
So if all OK at court, I don't see why not given the last months trading, the Negative RE will be gone
I'm Guessing RE to end Dec 2021 will be positive $93 Million plus $2.5 from P&L
Then to June plus another $20 ? ... so maybe $105 Million of Distributable reserves ... lets see
Hi CC ... I think they had $250 in the share primium account at last interim accounts, so it will be up further from the debt swap for shares at 3.2p, I recon they will clear the retained earnings (loss) with it ....
On the Yemens ... I did look a while back and found something from amny years age saying daily output was expected to reach 500 - 600 bopd ... I also saw another thing saying that when shut off Roxi was only getting 100 -150 ... maybe the horizontal drilling has potential
Afternoon KK ... The 160 million shares for CE have nominal value of 1p, so CE was £1.6 mil, the conversion to $2.8 accounting figure will be down to what ever they decided the exchange rate was, plus a lovely lump of expenses I guess ..... the balance of the other 11p per share goes to the share premium account
Hi KK ... Sorry, I should have been more specific ... I think the company will buy the options at the specified option price and then hold them in treasury, there is no need for the option holder to exercise them first.
Spot on ...
I've not done the numbers but I think the "Sale" of share to Al Marri was just to keep the share holding percentages in range for a PLC ...
As you say, they should be spending their time getting the stuff out of the ground while it is at high prices ... a safer route to market would be good too