Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
@JMAX: The IIs and other majors will have their say on a low ball
Under current management the company faces a lot of difficulties to recover any shareholders value and there is a high probability of capital increase with the convertible bond maturity 2021 for $300 millions which will hugely dilute shareholders.
Low ball is that this BOD are in a very weak position and if they don't accept bid rationale it could became hostile.
At this oil price any independent appraisal for the company could include additional writedowns for assets to justify 60p-70p
When the dust settles....
Everybody knows that current oil prices are in the lower band and it is always temporary for several weeks (see Brent or WT chart).
There are facts for that, or new OPEC+ agreement or strong demand recovery after CV issue ends in one month or so.
Current oil prices are very attractive for big users and governments.
A low ball bid would come to scene once the board should reconsider their position after they likely rejected approaches on higher SP in december.
@Thrump, thanks for sharing.
This is the typical shareholder massage template.
They are just a lazy board without any share in their accounts. Very soon a takeover will put them on their deserved place.
@hey_arnold, They use option collars, you can see the strategy used in their financial reports.
I expect oil production cuts to be announced in the next OPEC meeting on march 5th. However the decision will likely be laked days before maybe next friday or monday.
Current Tullow oil reserves are located in countries non OPEC and not need to reduce production reason why TLW assets are very attractive for any other company willing to skip cuts..... takeover is just imminent IMHO.
garyn, Mr x cannot hedge bonds, that’s why he does with equity. You only buy debt if your plan is takeover when the financial situation is dramatic and there is no equity to play with debt to equity conversion. By other hand, the debt will be assumed and paid by the bidder attending lenders.
Auson you know that shorts are usually opportunistics where this is blood and strong downtrend with bad news.
I personally don't care about them. I'm more concerned about company financials and potential deals incoming.
Auson, about TED it is better to text in its forum....so we don't mix things and disturb people here ))
Auson, they will have a shortsqueeze very soon in TED ))
In TLW they are better hedged with the oil however they will receive their part.
Barcalys is advising for 75p so probably in the range 90-100p including the control premium.
When everything is negative......)))
Look yesterday Intesa Sanpaolo takeover for Ubibanca, 50% discount on BV.... and so on.....
IMHO a deal is very close.... strong divergences here !
Also the non appointment of a new CEO shows that a negotiation is taking place together with the Price Action and absence of news from the company.
You say Equity is 210M and outstanding shares 44.57M .... 471p.....
After write down for 58M....342p.....
If you speculate with other BV figures it's ok but it's your speculation not the real BV right now.
So you say nothing.
Show me yours and we can discuss about.
Analysts at Peel Hunt means for exploration budget in Peru.
They have a clear intention not giving the figures properly, you should know why.
Hawfinch: My BV for TED, including provisions/depreciations for Inventories issue for 58M is 342p.
Auson: It is nothing to be with shares lending which are private agreements between parties and only the short part is forced to report if the threshold is crossed.
If all the current share lenders (mainly important and stable stakeholders) have to make public their lendings all the shorts industry would not be possible because you never will trust on a company whose main stakeholder is lending to others to sell.
They are not here just to sit and see how the company could revert and improve the balance sheet because that would mean that they are gamblers in the same terms that you mentioned and they aren't.
They are an opportunistic fund and increasing because they want a majority together with Ray to make the company private.
Just accumulating while the market allows them to do with discount.
I mean before preparing Spring/Summer'21 collection... June-July 2020.