Member Info for Footandmouth

RNS incoming has been front run previously imo. Content I suspect highly restricted at all times. Risk on here . Added . Best of luck 👍

Colon - If it’s happening then it could well be someone needing the money or an executor ensuring maximum value for an estate. You could also have shares going to family members for tax purposes or going to another partie for quite different reasons. If you’re a large shareholder here then it’s difficult to see any other reasons for selling. You’ve bought to get to precisely this point !!!

Perfectly timed for both Ireland and Morocco imo. Accident or design ? . 😀

Hope everything works out for you Rob 👍. Special Dividend aside presumably the annual dividend entitlement from retained interest will be structured around actual income received from sales rather than overall profit from all in country activities so that we are not subsidising the rapid development of infrastructure. That’s the acquirers role hopefully. The market will apply speculative value to the divi which will firm up with time and production. . 5 to 10 times the actual amount and more if it becomes obvious that it’s going to grow rapidly. Opportunity for cashing out if circumstances demand. The initial cash consideration will also assist in informing the purchasers expectations and help forward valuation.

ROB - Tax is likely to have a significant role in shaping any deal. I think UK has a helpful dividend treaty with Morocco. That’s something 👍

Top effort Rob 👍. Now all that’s needed is one of the children to show me the ropes 😅

It’s not hard luck Sygmaa it’s hard assets. Everyone wants more. We have lots 🔥⛽️

My early assumption was a collegiate pre discussed valuation framework with a preferred purchaser. Having built credible optionality via TT and tight financial control the negotiation now looks much more open. For sure there will be info wars both official and unofficial but certainly things have evolved. If I were the bidder and PG wasn’t holding my feet to the fire for a retained interest I’d view that as a negative. So much is unknown that valuations are highly speculative . Purely for easy arithmetic if you take an offer of £1 / share with 5-10% profit share over 15 years the market would push the price well above that level. A totally new start for equity range. If the retained interest is a flat no then how much more than the theoretical £1 would you need to accept. PG may well see very cheap assets elsewhere and that’s fantastic if that really is the case and not GD but if so I’d like both . I see the retained interest as being likely the most valuable part of the whole company. I’d only give it up if compelled to by the Moroccan authorities or if a compelling offer was made. No retained interest then I’d want 3 times the cash amount offered with such retention. The bidder will certainly be considering shareholder sentiment. Production is likely to get going fairly quickly. Once you start receiving a growing dividend any waiting is quickly forgotten.

GRH. .. .. When the Guercif licences

Were acquired by #PRD

Very few accepted GRH's opinions

Much shouted down

By dwarves

You're welcome😇😇😇😇😇

GRH. .. .. .. For the avoidance of doubt:

⭐️I do not/cannot know the deals

⭐️I do not/cannot know the timings

⭐️I do not/cannot know the participants

⭐️I do not/cannot know the prices

👓I do know other stuff

#PRD

Thank you Keith. Honest and informing. Rhetorical Question. Do you go without retaining some interest and why ?. Just because £1b gives £1 pound for share in what way is that rational valuation ? . And finally no answer required- what would you say is a reasonable walk away price. No need to answer of course but I always bridle when nudged towards a particular point of view. Apparently we have an entire government department dedicated to nudging 😀

Stub equity likely to be the cream. It’s your very own linker. If they change the rules on taxing isa dividends then there’s a variety of strategies to deal with that. If you have stub equity then you get the initial purchase / Special Dividend uplift augmented by the markets view of future earnings across all 3 areas. I’m not suggesting that we will be a meme stock tho it’s a possibility but we would certainly be highly visible , successful and full of future promise . Throw in an inflation hedge in a vital commodity at the early stages possibly of a super cycle and it could be interesting. A more modest,staged deal with decent retention wouldn’t trouble me at all. Having said all that we will get what we get 🥊

Is it fair to say that recent consensus was for a complete sale and exit from Morocco ? . Easy enough to google the values of gas quoted which of course isn’t what we might receive. Serious money all the same. Without retaining an interest how do you value the whole thing. We may just be scratching the surface of several decades of returns. A walk away price seems a much more difficult question. I can’t be alone in that. What’s the number ? 😀

Invite it on donal. It will be in good company here 😀.

Some gunfire from IRGC towards a tanker. No reported casualties thankfully.

Keith - the whole situation is Monty Python absent the humour. Hard to see any permanent resolution without a new revolution in Iran of the less messianic elements . Even the most challenged politicians must see the vulnerabilities in so many basic civilisational resources. Price is of secondary importance. Worth noting that although Iran has clearly prepared they are not a peer power of the west. We have made ourselves completely vulnerable to autocrats. No quick or easy solution but honesty is a start.

Screaming value won out in the end Colon 👍

I have enough I will not buy more. I have enough I will not buy more . I have . . . . . . 😅

Inquiry. Pdtxt !

If we’d gone the same route Sygmaa the profits could pay for quite a number of public enquiries .