Member Info for m007j

Regarding today's RNS statement that Fidelity have increased their stake in CBG from 5pct to 10pct. How have they managed to do it - there have not been any major trades going through the market. How did they manage to buy 5pct of the company in one go? Surely we should have seen a series of RNS statements seeing them slowly move up to 10pct. Makes no sense to me.

The stock is getting crushed.....very depressing.

Starling eyes UK acquisition to boost corporate lending - FT

"The fintech is actively looking at several acquisition options that would allow it to expand its lending capacity and deploy deposits into areas that could generate higher returns, such as corporate lending, according to two people familiar with the discussions. One said the acquisition could be “substantial” in scale".  

It is an odd situation where the government can effectively raise £2bn by canning the redress scheme. We need a comment from Chid regarding this issue. No one understands the interplay between business, poltics and the great unwashed the way Chid does. Over to you Chid...

Come on Chid, it has been a while since you posted. You silence, like your eloquence, of course only added to your gravitas....

JMAX how is your short position in Tullow going today?

JMAX you are an uneducated fool.

JMAX, what are you on about? How can Tullow be taken priviate? Via what mechanism? And by how? Shareholders would never approve such a thing.

Morons who talk about the cliff edge of $1.3bln being due in May 2026 and if Tullow cannot pay it back then it will go bust the day after have no clue how the finance of giant international companies works. The truth is if Tullow cannot refinance the May 2026 bonds then bondholders will have no choice but to extend the maturity of the bonds for a further 2-3 years giving Tullow the time to complete the drilling campaign at Jubilee which aims to boost the reserves base.

There is no way Ghana would risk being seen as to blame for pushing Tullow into bankruptcy. That would put at risk any future inward investment - it is not in the country's interest to do such a thing. The country generates good revenue from the Jubilee and TEN fields they are not about to do something spivvy - it makes no sense.

Because of the structure of the production sharing agreement and the need for various approvals from joint venture partners and the Ghanian government, Tullow is in a strong position going into refinancing talks. Bondholders will not be able to enforce their security without risking the loss of the key licences in Ghana. Note that Samuel Dossou-Aworet holds a 7% stake in Tullow. He is a very powerful west African oil investor with strong political connections in Ghana - he is not someone who is going to be OK with bondholders hurting Tullow shareholders and he has the political clout where it counts. Although bondholders are secured lenders enforcing their security at the expense of Tullow shareholders will not be easy!

Multibagger101, Mr I have 2 GCSEs, stock is above 7p now and rising fast! Any comments?

Multibagger101 - you should like someone with an education that goes only up to GSCS level judging by your past posts. Sorry mate, no offence, just calling it the way it looks. It's Ok you can still sign up to the Open University.

Liberty2 - thank you for sharing that quality legal opinion. It points to a signfiicant watering down of the redress scheme as being very necessary - this should be very good news for shareholders of CBG! And right on cue, Mr FCA today hits at just that!

Multibagger101 - you sound like a rather unsophisicated soul. Read the bond prospectus my friend. Don't be just another punter spouting uninformed BS.

Tullow’s main Ghana interests (Jubilee, TEN) are held through local concession/PSC arrangements and petroleum agreements with the Government of Ghana, typically including change‑of‑control and assignment restrictions over the license‑holding entities and their interests.​

An enforcement on a share pledge (e.g., a transfer of the shares in the Ghana asset‑holding subsidiary to a security agent or a buyer) would generally constitute a change of control or an indirect assignment of the petroleum interests, which in upstream regimes usually requires ministerial or governmental consent to remain valid and avoid termination risk. For enforcement, bondholders and the security agent would need to negotiate with the Ghanaian authorities (and all JV partners) to secure consent their to any transfer.

I think people are waking up to the fact that bondholders and Glencore cannot easily wrestle Tullow's assets away from shareholders. Yes lenders (both bondholders and Glencore) are secured creditors but how good is the security package? In order for them to execute on the share pledge and enforce their security lenders would need the approval of Ghanian government for the change of control. That would not be an easy thing for lenders to get and could take a very long time? There is also the possibility the government refuses any change of control. Puts the company in a very goood position ahead of any refinancing talks.

I have a further thought. Maybe peace in Ukraine is not needed in order for Eurasia Mining to prosper. The Trump administation clearly want to develop economic relations with Russia. And that makes perfect sense, the US is up against China, a peer competitor even more potent than the Soviet Union was. The US desperately needs access to Russian raw materials. Meanwhile, Russia needs an alternative to China for its raw materials. Because if China is the only major buyer of Russian commodities they will be able to dictate price. It makes hudge sense for Russia and the US to co-operate. So Ukraine does not want peace. OK they can keep fighting and the US can develop its relationship with Russia as the war goes on. Trump can say we tried to end the war but the Ukrainians want to keep fighting. Well let them. Meanwhile, we will develop relations with Russia.

Putin did not reject US proposals, just found some of them 'unacceptable,' Kremlin spokesperson says

We also got more reactions from the Kremlin this morning, with spokesman Dmitry Peskov insisting that Russia was ready to continue engagement with the US on Ukraine peace deal for as long as it takes to get an agreement – even as he branded some of the proposals “unacceptable”.

Peskov insisted that Putin had not rejected any proposals, but merely “some things were accepted, some things were marked as unacceptable – this is a normal working process of finding a compromise.”

The Kremlin spokesman pointedly thanked US president Donald Trump for convening the talks, and said the EU leaders were not involved in the talks as “they are still obsessed with the idea of inflicting a strategic defeat on Russia.”

Chid, can I take this opportunity to thank you for the comic relief that your posts always offer. They have a malapropist quality that Sheridan would greatly appreciate. Do keep at it and do keep taking the tablets!

Brutal sell rating from broker Panmure warning shareholders are likely to get wiped out

https://www.proactiveinvestors.co.uk/companies/news/1083077/tullow-oil-targets-slashed-as-stockbroker-repeats-sell-rating-1083077.html