I don't intend to sell for I know that TEMA is worth far far more than the present market ca.
I will however be screen shoting whats in mine and the wives ISA's.
Personally though I would much prefer to see any perpetrators banged up and the share price recovering to where it should rightfully be before TEMA contract news comes along.
PF did say in his detailed email response to Qualia144 that all the stock that was subject to the HH / CC TR1 was all absorbed into the market. That took us to about 16.5p.
So there is a valuation gap to fill back up to where it should rightfully be.
I think we can take it that the market manipulators / potential market abusers have been well and truly sussed now and that the trading in this stock is now being watched like a hawk.
I'm just wondering if legitimate long term shareholders and others would have a legitimate claim against the perpetrators in due course for the decimation of their shareholdings and wealth. Isn't there also such a thing as criminal injuries compensation if it were to be proven to be criminal (DCI - can you advise)
Still opportunity prevails. TEMA alone is worth a whole lot more than the present market cap.
Will be the restart of the share buy back program.
Then back to £2 plus as it did last time.
In any case it won't matter for there will be predators out there spying the cash on the balance sheet, FCF and increased production + the other assets.
And all the time you have a nice safe dividend to fall back on.
Does it delay things until market conditions become favourable has to be the question and does it place the full project in jeopardy.
The coupon rates being suggested in double digits I must admit were pointing this way. There are some right greedy ba# stewards out there.
Should be about right for a correction back up in due course
Many on here will never have been witness to such blatant manipulation of a stock.
The silver lining behind the cloud is that the present sp is there for the taking.
What with being "appointed" on what is a massive TEMA Port project, the Kingdom of Saudi Arabia joint venture and the announced tie up with Gulf Aviation Academy this should NEVER EVER have been sub 10p.
Here's to common sense prevailing now that the FCA have stepped in.
This mornings RNS is as strong a set of half yearlies as you will see and where cash is king.
The target FCF for the year is $100M.
At the 6 monthly stage - they are already at $76 Million.
Just look at the cash on the balance sheet.
Production is up 17% and 6 more wells to come.
The Chevron assets to add to that next year + value accretion from the other assets.
As you point out ocelot - scope to increase that dividend also
And all along in the background - a large share buyback program - which should restart imminently.
All in all one highly cash generative asset that is GROSSLY undervalued and that should start to re-rate - and one CEO that is delivering what it says on the tin.
"There ought to be an RNS" - confirmed. Now for the contract RNS ... next week works OK for me.
Bring it on.
There's now a lot of sticky shares that can't be sold until the administrators get their head round thongs and sort things out (6 to 8 months if Beaufort is anything to go by) and the warrants will either have lapsed or be stuck in similar red tape.
I therefore have to agree with jimzi that there will be less liquidity in the market for any good news.
Have a good evening.
"Acting on intelligence received about the assets in which SVS invested its clients’ money, we conducted urgent supervisory work and identified serious concerns about the way in which the business was operating.
The FCA has opened an investigation into this matter."
They need look no further than events at WSG on the run up to a bargain basement offer of placings money and the 250k trades that all saw tip the share price downwards.
If there has been market abuse or any illegality here then investigate thoroughly an
throw the book up at the culprits and get them banged up as they have robbed long term shareholders of a substantial element of the previous share price. (About 7 to 8 points worth)
The converse side is that any reduced share price is there for the taking and with TEMA we know Westminster - have been appointed.
Only just caught the SVS confirmation of administration and also the WSG admission of the placing shares RNS
Not great news if you are an SVS client admittedly and all who are have my sympathies.
But from a WSG shareholder point of view:
1. WSG have the placing funds in the bank.
Several further assumptions (but I don't think I'll be far wrong).
2. The warrants (which I am convinced went to SVS - as they "offered" the cash - have now lapsed. Hoorah!! Blue sky ahead for positive news.
3. Kiss goodbye to those 250k tip the share price sells (Which imo were SVS forward selling or naked shorting the stock).
4. The placing shares were all forward sold and on admission today (or earlier on receipt of the paperwork) they will have been delivered to the market makers to balance the books.
Slight reduction in the sp today (and probably due to the delay in formal notification re SVS) but I took advantage and topped up with over 100k today and am happy with my interpretation of events and predictions thus far.
Ticks on 1 and 2 of the predictions as below (date of receipt of funds u/k)
The money was received on 1/8.
SVS go under.
The only way from now on for the share price is upward.
The TEMA deal on which WSG are "appointed" completes.
Have a nice evening.
Hoping for a good Free Cash Flow update tomorrow given where the Price of Oil has bounced between, progress with increasing production further and a resumption of the share buy back programme that was stopped during the closed period.