Member Info for DMcG54

CAW et al:

Frank Geary: Executive Director, UBS Natural Resources Group (NRG), been in role 4.5 years

Some sites have him down as Vice President Investment Banking - Natural Resources at UBS

Not much on him on the internet, almost a bit of a ghost but he seems real.

As Mick Jagger would say "Wake up Keef, it's showtime"

Ta CAW1

LSE is playing up again, the RNS appears broken and the messages keep reverting back to yesterdays. Bit naff really

I might have to drive the coach and my egg sandwiches to 45 Geschäftsstelle Zürich Bahnhofstrasse

frutsels: Does make you wonder if MMs are working large delayed buys at a lower price, the spread is too large and makes me wonder if they are trying to tease out sellers and help with shorts closing and discourage too much further buying to then make price go up. If they can't fill any large orders they might have to take the brakes off . Just my thoughts but I'm just an amateur at this game.

Wow, this is really parked up for now. At least the weather is good in Blighty today so I'll just sit in the parked coach with the BoD and bidders and look at the view with them and eat my egg sarnies washed down with Tizer and lock the coach door and wait for the digestive aftermath to focus their minds on speeding up a decision. Should expedite matters and a deal should be disclosed soon :) I thank you.

mac et al, the reaction has been damp because everyone has got tired of jam tomorrow, non-binding is not an accepted offer. The market is waiting for the signatures on the dotted. As I mentioned before we are in a protracted holding pattern and the market is giving EUA the benefit of the doubt hence the SP hasn't started dropping. Added to which, the MMs seem to mucked about with the spread and possibly suppressing SP to either let big boys in again and let buddy shorters out; once that has settled in a couple of days we might see this tick up to mid 30s and perhaps touch 40p before DFS and mutually binding offer accepted and then hopefully a healthy rerate up. Just my views and GLA.

MMs whacking up spread to put off buyers - tricky tricks

guitar dude, you talk a lot of sense I reckon ;) I think as some have said the RNS is welcome but just now confirming they have had offers (I don't the word multiple in the text so we can assume 2 offers may be more). I mentioned March or June for an accepted offer and had scorn poured over me, I still think it will take that long. Also, I can't see the SP shifting much, the market seems a tad sceptical that a deal will get done soon hence why stuck at c30p, however the market clearly feels a deal might get done which is why it hasn't crashed to single digit SP. It's still hung in the balance and will be a for a while.

To get a quicker deal we can hope that one of the bidders blinks first and ups an offer but I don't think they had many offers and not many stonking ones otherwise they would have moved to requesting a binding offer by now.

I'm sure this will get the usual slating nd no I am not deramping as I have 73000 shares (not much compared to the rest of you) that I want best price for but this will drag on and I expect the SP will hover at 28p to 35p for a while. GLA

LifeOReilly FYI:

Bitcoin: be prepared to lose all your money, FCA warns consumers https://www.theguardian.com/business/2021/jan/11/bitcoin-be-prepared-to-lose-all-your-money-fca-warns-consumers-risk-productis-cryptoassets?CMP=share_btn_tw

I practically spat my coffee out a moment ago when I saw the SP had moved 20%, but when I looked again it was EUZ and not EUA - arghhhhhh!

Good point Stonk, might well be further DFS delays. I'm gonna stop checking for a while as I went a bit wobbly this week, I think it was the return to work :) This first week has felt like a month!

Judgey, this is clearly a deliberate trick to worry the sheep, I see it as a good sign that there'll be something next week as MMs pulling out all the stops. I expect a Stop/Loss raid this afternoon

Ibiza: 'flaps' lol.

Childish I know but raised a smile

Lots

£3.50 is an outlandish figure, it's never going to be that.

Hi prospectors. I think the drop in price rattled me but thinking straight again (dry Jan helps as well :). I have been wading though the Takeover Code (which covers Takeovers and Mergers) and it's nearly 500 pages , but I can't find anything in the timetable text regarding by when an update has to be provided. FWIW I have copied the below for when an acceptable offer is declared:

"SECTION N. OFFER TIMETABLE AND REVISION
RULE 31. TIMING OF THE OFFER*
31.1 FIRST CLOSING DATE
An offer must initially be open for at least 21 days following the date on which the offer document is published.
31.2 FURTHER CLOSING DATES TO BE SPECIFIED
In any announcement of an extension of an offer, either the next closing date must be stated or, if the offer is unconditional as to acceptances, a statement may be made that the offer will remain open until further notice. In the latter case, or if the offer will remain open for acceptances beyond the 70th day following the publication of the offer document, at least 14 days’ notice must be given, before the offer is closed, to those shareholders who have not accepted by sending a notification to offeree company shareholders and persons with information rights.
31.3 NO OBLIGATION TO EXTEND
There is no obligation to extend an offer if the acceptance condition has not been satisfied by the first or any subsequent closing date.
31.4 OFFER TO REMAIN OPEN FOR 14 DAYS AFTER UNCONDITIONAL AS TO ACCEPTANCES
After an offer has become or is declared unconditional as to acceptances, the offer must remain open for acceptance for not less than 14 days after the date on which it would otherwise have expired (see Rules 33.1 and 33.2). When, however, an offer is unconditional as to acceptances from the outset, a 14 day extension is not required but the position should be set out clearly and prominently in the offer document."

That did amuse Gobig, drunk Ruskies with a metal detector from the 80s perhaps, very funny image. Well, fingers crossed we get some update this month.

"I think the issue was the share price rise, they didn't want to release another RNS to 'note' the share price so the DFS RNS was tactical, it means a little drop was expected in the meanwhile but it's just been milked all the way down back to 31p."

Fair point cluelessinvestor