Member Info for Gertfrobe

Is that merchant banker Bucky?

The point is PIs were only made aware of the AAL offer after a leak, otherwise we are kept like mushrooms.

James the AAL offer was first announced in a pub.

https://www.lse.co.uk/profiles/jimglickenhaus/

50p Fred you’ll be quoting the closing price next.

If I’m reading this right SSX only need to make an announcement on significant share price movement.

In the context of a public acquisition, the Code stipulates that certain announcements must be made at various stages in the transaction. These include: (i) leak announcements, where persistent market rumour or a significant move in the target share price makes it necessary to notify the market that a possible offer is being contemplated; (ii) announcements of a possible offer, where a bidder is considering the making of an offer, but does not at that stage have a firm intention to do so; (iii) announcements of a firm intention to make an offer, where a bidder is essentially committing to the market that it will make an offer for the target; and (iv) periodic announcements updating the market on the results of the offer at key milestones during the offer period.

Press speculation
The UKLA does not require companies to make negative statements denying wholly unfounded rumours or speculation. However, if there are details contained in the rumour that suggest a breach of confidence has occurred and the matter is price sensitive, the company must make an announcement.
In order to be effective, a "no comment" policy must be used consistently. Any inconsistency may allow the company's audience to infer an answer and would be tantamount to selective disclosure.
Whilst the UKLA does not require a company make a negative statement denying a wholly unfounded rumour, if the company does decide to make such a denial the company should consider doing so via formal announcement rather than dialogue in a single publication.

One says funding package. And one says takeover.
“ unnamed consortium offering a £519mln funding package to cover the next phase of work at the Woodsmith mine.”

“An unnamed US led consortium is also said to be attempting a rival takeover of Sirius.“

“An unnamed US led consortium is also said to be attempting a rival takeover of Sirius.“

I think the large lady is suffering from Laryngitis.

“You know full well that AAL are paying over double that for SXX.“

Bucky you think it’s worth two roof falls?

Anglo American has valued Sirius about the same as a fall in one of its mines.

Keltickilla I worked in mining and a £350m roof fall is drastic.
Analysts at Jefferies said while it was too early to say how long the Bowen basin-based mine would be offline, the impact could be significant.

“If we assume the mine is down for the year, this would be a ~$350m Consolidated EBITDA hit for Anglo’s 2020E results, equating to ~3.5% on our price deck and ~3% on spot prices,” they wrote.

Serious incident at AAL mine.
LONDON, Jan 31 (Reuters) - Anglo American said on Friday it had halted production in parts of its Moranbah North coking coal mine in Australia after a roof collapsed. "Anglo American confirms a geotechnical issue at Moranbah North during development works, which resulted in a roof fall incident," it said in a statement, adding there were no injuries. A company spokesman added that production had been halted in the parts of the mine that where the incident occurred.

It probably stinks.

You’ll need Nick Freeman for that.

And received a lot of abuse off everybody.

The captain went to jail.

And vote NO.

Good plan Yellow.

Even think I’m sorry I’ve been out all day