Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
how will YOU as a shareholder vote re this deal?
will
Right everyone post their price forecast (just the number no comments please!) for 1 January 2020.
Assume some sort of RNS by then (positive or negative)
NO COMMENTS JUST THE NUMBERS!
I can then work out the average and repost.
Mince pie (why on offer in October?) = Christmas deal
I think we need to read between the lines in what Crude said - why would he be banging on about offers and acceptance of "coffee". Hes not gonna outright say anything price sensitive.
"OK guys, what can I say. I was a bit disappointed the last Earl Grey tea bag had been used & the only tea on offer was 'builders'! But after tea fresh coffee was proffered & accepted with alacrity, along with some splendid mince pies & Victoria sponge! I found the company (James, Brian, Sarah & lawyer Fred) most congenial as we sat & chatted in the boardroom & the time flew by all too quickly. I did not discuss much in the way of current events (for obvious reasons) but they did seem very enthused about the recent signing of the 'MOU'! On the way out I helped myself to a couple more of their most excellent mince pies & was on my merry way to my next engagement...but this really was just a drop-in for a coffee & say hi - nothing more than that! "
To the layman, what does this mean? Any short term cashflows back to shareholders? Sounds like giving away part of future profits on a well thats not even producing yet?
What do we think of the new slogan on the sound website?
DISCOVER, RE-RATE, REPEAT...
No mention of selling or profit there haha - just constant exploration... hint of the "going long"?
£28 deal? Where did you get that number from?
Second price monitoring extension. Which happens when the first one fails to find a price.
Can someone post their latest email received from JP?
Would be good to try and read through the lines, or if there was any recent emails that gave something away.
Heidhoncho
I am not judging - I am saying it is a positive if they could achieve a placing - would indicate that a LE is likely as majority of the shares would go to informed institutional investors.
Longwait - yes indeed. Simon is a reasonably large shareholder (2%)ish and so has a vested interest to make a sale work. That gives me comfort somewhat as he probably has nice connections as the ex CEO of Threadneedle and will get a sale over the line.
Yes but who would buy the shares! unless in the know about an LE.
Nope I am not soundingoff. Another point on the Going concern, as an ex big 4 Accountant. From the perspective of the audit Partner who signed off these accounts, they would have had to have been confident in a sale in order for the accounts to have been prepared on a going concern basis. I.e. they would only have signed the accounts as a going concern if they were told/knew something more about a potential sale. the % chance of the sale would have had to have been "reasonably possible" (in accounting terms) - and the auditors will have some evidence on their audit file to back up their assumptions (e.g. a letter of intent from a buyer perhaps?). The audit partner will not risk his career by signing off the going concern without backup.
I am an accountant. The impairment charge means that the auditors requested management to do an assessment of the fair value (sale value) of the asset. They will have used an expert from their pil and gas team. So the sale value, at 30 june 2019, is what the asset was written down to.
Seaton, any news on that call with JP?
Completely agreed. Although if they are genuinely in the middle of a sale, there will likely be large legal fees, and possibly ?Vendor assist fees (which can both run into the $millions). apart from their salaries, are there still many staff on the ground who might also be costing alot?
I for one am hopefully of a deal. JP might be an idiot, but I feel at this stage it is irrelevant. SD has been reappointed on the board, and he considerable experience in M&A - which is what we need right now as we are trying to sell.
With the resignation of the previous director, and the appointment of SD who has a fairly chunky part of Sound (about 2%) and has been a long term shareholder, he was probably appointed because he wants out and he doesn't trust JP to deliver it.
And why?
looking at the level 2 screen for SOU.
Every minute or so, a buy order is inserted, then 5 seconds later deleted. at a level 0.1 above the currrent Bid (but below the ask)
There has been 30 such orders made this morning. volume of each is about 50k shares
Any implications? or is this just an article of already known facts?
Anyone notice that the large sell order for 1,950,000 shares, which had been sitting around for the last couple of weeks on the level 2 order book, is gone?
Any thoughts? perhaps there was a target price for an LE event at 19.5p...