Member Info for LOTM-13

I decided to go through all the annoucements !

Bilgin Grup Doğalgaz A.Ş. transactions this year are as follows (newest to the top)

630,000 £1.200

100,000 £1.117

450,000 £1.118

25,000 £1.110

750,000 £1.111

100,000 £1.095

300,000 £1.087

213,488 £1.131

220,000 £1.168

16,911 £1.092

Which is a total of 2,805,399 bought at an average price of exactly £1.1350 per share.

So there current holding is 65.328M or 23.31%

LOTM

I've been looking through the data.

Sadly a lot of the RNS's don't provide full details as to the holdings.

Bilgin Grup Doğalgaz A.Ş. (in which Tolga Bilgin is the CEO & is a non-exec director of Genel) held 62,523,017 shares at the end of Dec 2022 (out of 280,248,198 in issue) which was 22.3% of the company. At various times during 2023 Bilgin Grup Doğalgaz A.Ş. has increased its holding further by over 2M shares by the looks of it at an average price of around £1.10 per share.

Hassan Goza who was not re-elected as a director in May 2022 had a holding of 46,338,6224 at that time (16.53%). His holding is via Daax Corporation FZE which he sole owns.

The other large shareholders are as follows

Türkiye Is¸ Bankası A.S¸. 53,419,883 which is 19.06%

NR Holdings Limited 21,214,583 which is 7.569%

So those 4 holding at the end of December totalled 183.494M shares which equates to 65.4756% of the company.

Therefore the free float is under 100M shares, which kind of explains why trading volumes are a lot lower than GKP.

LOTM

Mr.kioto

Who are Harvey ? I've never heard of them or do you mean "Hargreaves Lansdown" ?

Do you know from what sort of time on Friday you were able to trade CNE ?

I've now got my correct number of new shares, but still no trade function on them so it very much looks like I won't be able to trade them again in the morning !

So So annoying

LOTM

Isealex,

Yes you can sell your SYNT holding without it affect SYNN at all.

The nil paid SYNN are your's to exercise (pay the £1.97 on them by 12th Oct) to turn them into SYNT shares on 13th October, or you can sell them as well if you wish. If you do nothing, then they will be sold on the 13th for you & if they have any value at that time it will be paid to you.

LOTM

EdwardSeaton,

For someone who say's he has a fair chunk of these, I find your last post absolutely astounding.

Directors Salary/Bonus & massive staff pay rises = money for them & not for shareholders.

The late M Heller got £200K basic & £580K bonus's in 2020.

1 exec director has been there since 2008 & doesn't own a single share in the company, yet took home £6,10K last year

Another since 2010 owns all of 40,000 shares & took home £1.078M last year.

The shares are impossible to value because of the director costs, while there filling there pockets each year you're getting crumbs & not for much longer..........

LOTM

Mr.Kioto,

Are you able to trade the new stock already ? if so which broker do you use? as I'm not able to trade yet & I might not be until Monday !

LOTM

Blumagnet,

No I'm not waiting on it going back to that sort of price, clearly progress has been made since then, you could say the progress to date is priced in in GKP but not in GENL yet.

When the IOC's decide to join the "let the pipeline flow again party" then they'll be the next leg up in the share price's. Although is % terms GENL is likely to do better given its 35% behind already.

I own some of both as it is.

LOTM

GKP was £0.848 on 14th Sept now £1.16

GNEL was £0.804 on 14th Sept now £0.804

So GKP is up £0.31 or 36.5% over that time frame & GNEL is unchanged !

Go Figure !!

LOTM

Just how stupid are they ?

The price is rock bottom on Wednesday & they buy-in just 200,000shares when they could easily have bought a Million plus.

Thursday they ay over 5p more a share & buy in 500,000 shares !

& Yes they can't even do the announcement right, its not rocket science to make sure you've changed the numbers from the previous announcement, but yet again DEC can't even do that right. (in case you've not spotted it the 200,000 in the initial text should be 500,000)

LOTM

Ok I spent the evening re-doing all my old trades & working out my net position ahead of the new shares trading.

Total banked profit so far £5786.88

With 25,000 shares still held at an average cost price of £1.7205.

This will become 16,666 shares at a new average cost price of £1.7408.

The old trading range that has been working from £1.73 to £1.80 recently will no doubt change following the consolidation & the return of the share buy-back program.

So I'll have to find a new trading range / strategy going forward as I try to increase my overall long-term share holding further. First immediate target is to increase the 16,666 to 20,000 by the end of 2023 solely funded from trading profits.

LOTM

My goodness Goldman Sach's have been busy little beavers, turning all those voting rights into actual share ownership in the past couple of days.

LOTM

AndAnotherThing,

The goal of the consolidation is to ensure that going forward things can be compared on a like for like basis regarding eps, for PE ratio's etc.

The company will have a market cap of £X million 's tonight, in the morning its market cap should be the same £X- £80M (the $100M dividend at £0.56)which you then divide by the number of shares now in issue.

It does not mean the share price should fall further because it was higher the night beforehand.

LOTM

I'm glad to see all the resolutions were overwhelmingly passed at today's meeting.

So now we can look forward to a very interesting afternoon by the looks of it !

Try putting in some dummy orders & then you'll know what I mean.

They are wanting way over the offer price, if you put in a decent sized order, something I've not really seen with Capricorn before.

Prime Examples

177.314 4000 O 175.0 176.8 12:41:58

176.97 3500 O 175.0 176.4 13:02:44

176.69 3936 O 175.2 176.4 13:32:10

So either they are already short of stock or they don't want to be short of stock ahead of the share consolidation - effectively overnight (but officially 8am in the morning)

LOTM

The meeting to approve the Special Dividend of £0.56 per share, followed by the share consolidation of 2 new shares for every 3 existing ones is tomorrow Thursday 5th Oct.

The shares will then effectively go EX dividend at the close of business on Thursday 5th Oct. The share consolidation occurs ahead of the market opening on Friday 6th Oct.

Only this time round unlike in May ahead of the previous special dividend & share consolidation. The share price is above the balancing point. That means the gearing is in our favour this time round not against us.

The balancing point is 3 x £1.68 = £5.04 less the 3 x £0.56 dividend (£1.68) leaves you with £3.36 which when dividend by the 2 new shares would equate to a price of £1.68 each.

If the current price of £1.80 turns out to be the closing price on the 5th Oct, then the new shares should return to trading around £1.86 (£5.40-£1.68 = £3.72 / 2) to have the same market value as before.

If the share price goes higher then the gap will grow out from that £0.06 difference, if it falls it will shrink in size.

Tick Tock, Tick Tock especially for those institutions that have sold/lend for cash there voting rights to other's (all 19% of them) , which might be the reason behind the scramble for shares that looks to be occurring.

LOTM

If ever there was a time to be buying back as much stock as you can, this would be close to it.

Given the weaker £ stronger $

They are able to buy in the shares for under $0.88 (using a share price of £0.725 & exchange rate of $1.21 to the £). Therefore the annual dividend of $0.175 ($0.04375*4) is a yield of over 20% at the current share price, without factoring in the added benefits of quarterly payments to that yield.

This is by far a multi of any other forms of interest the company has to pay on any of its other borrowings.

So they should be buy up the stock like there is no tomorrow as the savings will be substantial.

Even if you want to relate it to last share placing, funds were raised at £1.05 per share back then less £0.07 in dividends paid on those funds since then. Therefore buying back the rest of the 97M buy-back authority would now net a profit of over £0.25 per share (£0.98-£0.725) as well.

Astute capital management you might call it.

So anything less than 1M shares being re-purchased on the 3rd of October, would be disappointing to say the least. Given the opportunity presented to the company.

LOTM

I made a further 2 purchase's yesterday morning neither of which showed up in the trades list, the larger one at what turned out to be a pretty crap price £1.77 & the smaller one at just below £1.74

It will be interesting to see how they try to trade the stock Wednesday, ahead of the vote on Thursday morning.

LOTM

I've just been looking through the accounts again & the amount this group of "fat cats" are awarding themselves in relation to the size of the company & what it is achieving is outrageous to say the least.

The directors banked £4.5M for 2022 (basically £4.4M for the 4 executive ones) .

The shareholders received half that amount in dividends.

The directors bonus is also linked to the bonus they've received in the previous 3 years! so the gravy train is stuck in a near endless loop of sheer greed.

They are only out to look after themselves, yes the sum of the parts maybe much higher than the current share price, but they will milk it dry long before shareholders get to see much of it. The coalmine has 6 years mine life left max (providing they don't come across other area's of it that are poor).

If you want to take a look at CNE, you'll see another company a much bigger one that had a board of directors full of themselves & not prioritising its shareholders. A one time FTSE-100 company no less. The new board of directors has come in & in the space of 7 months will have reduced G&A spend (which includes salaries) from $70M to just $20M & they believe they can get it lower than that!

Inside the next 4 years they will have saved shareholders more than the current value of the company!

BISI is a basket case, no accountability & no list of these so called investments & the quality of them or liquidity in them.

LOTM

From https://tradingeconomics.com/commodity/brent-crude-oil

Brent crude futures fell to around $90 per barrel on Tuesday, sliding for the fourth straight session as investors lightened holdings of risk assets amid a strong dollar and surging Treasury yields. The dollar scaled fresh ten-month highs against a basket of peers and the 10-year US yield rallied to its highest levels since 2007 as strong US economic data bolstered the view that the Federal Reserve will keep interest rates higher for longer. The ISM Manufacturing PMI for the US showed the contraction in the manufacturing sector slowed sharply and price pressures eased in September. Analysts also noted that a key oil pipeline between Iraq and Turkey looked ready for operations this week which could result in additional oil flows and ease global supply tightness. Meanwhile, markets look ahead to an OPEC+ meeting this week, where it is expected to maintain previously announced output cuts.

LOTM

From https://tradingeconomics.com/commodity/brent-crude-oil

Brent crude futures fell to around $90 per barrel on Tuesday, sliding for the fourth straight session as investors lightened holdings of risk assets amid a strong dollar and surging Treasury yields. The dollar scaled fresh ten-month highs against a basket of peers and the 10-year US yield rallied to its highest levels since 2007 as strong US economic data bolstered the view that the Federal Reserve will keep interest rates higher for longer. The ISM Manufacturing PMI for the US showed the contraction in the manufacturing sector slowed sharply and price pressures eased in September. Analysts also noted that a key oil pipeline between Iraq and Turkey looked ready for operations this week which could result in additional oil flows and ease global supply tightness. Meanwhile, markets look ahead to an OPEC+ meeting this week, where it is expected to maintain previously announced output cuts.

LOTM

RagstoRich,

Clearly you don't see the value here, nor the income stream that will be coming in 2024 & beyond.

You stated previously "You sold out a while back" so how can you sell Egypt now & get any benefit from it when you don't own any shares?

You got the benefit of a higher price for your shares when you sold them, many here will not have been so lucky, but I'm sure they will in time be rewarded for there patients.

LOTM