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it seems the green boxes are less, so hopefully we got rid of a few negative waste of air ********s, yet a new one appears, hardly any posts, just joined and straight away an expert on everything tlw.................goodbye
I emailed TLW last week asking what they have implemented in terms of buying back the bonds and refinancing and what they are doing to address the share price decline.
Response -
We understand your frustration with the recent share price performance. We are focused on maximising cash flow generation from our high quality portfolio through rigorous cost management, disciplined capital deployment and operating efficiency. Although this has not yet translated into our share price, we remain confident that the growth strategy we have laid out will drive material value creation for our shareholders, as well as shared prosperity for our host nations and communities over the next few years.
We continue to progress our review of a range of refinancing options and we may seek to retire or purchase outstanding debt from time to time through cash purchases or exchanges in the open market or otherwise.
I did email a while back asking about buying back bonds or even shares, the response said they had lots of different options to consider going forward. Surely now they could be buying up their own shares to prevent this be constantly sold down. Also they have all sorts of options but do no seem to have implemented any yet! Criminal to me what's happening, we are in far better shape than 63p and yet look what's happening. F**K you green box lot aswell !!
TLW response
We are regularly reviewing options for optimising the capital structure of Tullow and getting a fair valuation of our company. As such, the buy back of bonds or the buy back of equity shares are both options available to us.
As stated in our recent results, we have cash on the balance sheet that could be utilised. We have to think carefully about how and when we do so, but addressing our debt levels is high on our priority list. There are various conditions surrounding our bonds, but there are ways to buy back portions without incurring material fees. With upcoming maturities in the next few years, taking action on reducing our debt is important and should also have a positive impact on the valuation of the company. All this being said, equity buy backs are part of the tool box we have available to us so remain an option as we look ahead.
Thank you for your email,
Nicola
I emailed TLW again today just to ask if they were considering buying bonds back or even shares, to help stop the manipulation of the share price. Its been a steady climb, but as soon as Crude drops we do an about turn regardless!
GLALTH