Member Info for JRjnr

Hardly any stock available....I had the same problem....Only chance on-line is if there has been a sell that has just gone through and MMs have the stock.

filled it finally...

its a struggle to get more than a 1000 shares....have an order for 50,000 and it is not filling it!

You are correct there is lack of clarity iro of dilution. Consider this though:- where the sp went to in recent times on takeover and blackrock buying more last week. With regards to the latter blackrock are not interested in some 10 years plan with a micro cap ethanol producer. They are interested in value and see upside in the transaction relative to sp. If they didn't they would be selling or waiting for the deal to complete and then buying more.

There is no need for increase by more than 50m shares....

Up creating confusion and now people drawing conclusions on dilution based on the agm..... The only document to consider is the proposed transaction. The subsequent circular will clarify value, dilution and market cap....blackrock believe and I'm sure they can work an abacus!

I disagree - the 700m provision was part of the agm and was part of a restructure prior to the possibility of a take over and sale of oil and gas assets. There will be an increase in shares but not to 700m otherwise that would have been announced in proposed transaction.

that was a provision in the AGM at the end of SEPT....The game has moved on and there has been no RNS increasing shares and raising capital. It is now an irrelevance as we are in the process of a takeover. You gave me a heart-attack but am pleased to report to all bloggers that we are not being diluted down as per AGM

Lets wait and see.....Cant believe any of the major shareholders want this type of restructure

hold fire - blackrock are not fools and did not up their stake to be dilluted down again

now that would be lovely.....Maybe RNS will be with us in the next hour.... 20p tomorrow morning and its a champagne breakfast....

what does it say????

cant even get 50000 at the moment....There is hardly any stock available. Now back to calculations - $31m for the gas business. The $4m buy in does not dilute. I think the $13m will add another 50-60m shares but also goes on the balance sheet. Maple's will still own a quarter of the ethanol business which conservatively could be valued at $20m. Thus you are looking at $50m divided by 210m shares. Thus $0.19 = 12/13P.

I think i have worked out the value - but depends on how you value the ethanol business.....Its minimum 12p.....will show calculations later....

This brings sp value of 14p..... This makes sense.... 50m shares at a certain strike price or 50m shares and/or investment that doesn't allocate stock but pays down debt.

The key to the offer is the $13m and $4m. How much stock is obtained for this investment. This is the area that is unclear hence the challenge of valuation. It would make no sense to dilute massively before the sale for either party. Moreover blackrock if the conversion doubled the number of shares blackrock would not be upping their holding as they would be leaking more cash. Likely that 50m shares issued bringing total to 220m shares divided by $31m

Matlot - where did you source that from

Maple has reviewed and is agreeable to the terms of the Offer and is diligently progressing the actions required to finalise the detailed terms of the Proposed Transaction with a view to publishing a circular and seeking the necessary shareholder approvals as soon as practicable - SURELY THIS CANT TAKE MUCH LONGER...........by thursday its two weeks. If its longer than that arguably a counter offer may be in play. Either way I expect clarity by the end of the week.

Maple has reviewed and is agreeable to the terms of the Offer and is diligently progressing the actions required to finalise the detailed terms of the Proposed Transaction with a view to publishing a circular and seeking the necessary shareholder approvals as soon as practicable - SURELY THIS CANT TAKE MUCH LONGER...........by thursday its two weeks. If its longer than that arguably a counter offer may be in play. Either way I expect clarity by the end of the week.

very hard to get any at any time.....Thus next news - egm / clarification of the offer / counter offer and this could double inside a minute. True value is 12p - 16p.....That is why blackrock increased their holding....Wont be much longer...