Member Info for Matthew125

@Maksym I had a read of your post history and see that you are from the Ukraine (are you living there as well?). You probably have a better insight into this company than most, so what additional risks do you think there will be holding JKX as delisted? Will there be additional risks on top of those for holders who are outside of the Ukraine? I've only got 24k shares so maybe I might be willing to ride the whirlwind for a while! LOL. I think a lot of the risks of the Ukraine are overstated and yes I am in FXPO as well.

@Maksym, so are you planning to hold as delisted? I assume that your shares are not in an ISA or SIPP, are they?

I just did the sums with the small amount of cash I have in my account it will work out to 3.5%. Stamp duty is a bit*h! LOL. If I had more spare cash in my account I probably would still go for it.

@ Contra Cheers for the share. Was a good summary. Company is a high risk play on the oil market which could get wiped out if they have to raise 50m by the end of 2022. Interesting to discuss the potential upside, they really need much better utilisation and day rates for their E class vessels. I am still a bull on oil so think that there is a chance they can turn this ship around. I was actually unaware of the connections of the new CEO with Seafox and wonder what that means for any potential upside as surely Seafox would be interested in another bid if GMS were to get deeper into trouble.

@Hunter I agree. I think that most of the Russia risk here is priced in. The company is not even located in an area that Russia would like to annex.

@john Totally understand that. I think most brokers are still open for acceptances until Monday or Tuesday so it is quite possible that 75% will come by then. Will be watching the price movements with interest.

So still only at 73.9%! LOL. So close yet so far, seems it will remain listed for a wee bit more. At least we get our ZNWD shares on the 22th.

Always falls the day after I start thinking about selling some!

@simo Ganfeng actually need 90% for a compulsory purchase to go through. 75% is the amount they need to delist BCN, technically you will still be a shareholder.

Lets not forget that there is still an outside chance this deal gets blocked by the UK or Mex. gov.s. Ok, really outside! Although price action is saying that there may be an issue.

@LivingtheDream Everyone WILL get ZNWD shares, accept or not. It is being given out as a dividend so all shares are treated the same. Also. shares in a delisted company are NOT worthless, they are just illiquid. It is quite possible that they could be worth more than the deal in a couple of years. Being illiquid is a problem though and the other issue is losing that cash/stock from your ISA, as if you have a lot if would take some years to put the cash from any sale back in with the 20k a year limit.

Being a bit more positive though, as Tomcat says, they would first need to execute the offer to get 75% to be able to delist, so price may well move higher. I still think there will be at least one more corp. action before the Mex. gov past the deal. Seeing how many folded on here because of the last RNS, they will probably RNS that they have over 75% but under 90%, give everyone one last scare to take the offer and try to get to 90%. If they then get over 90%, well you won't have to worry about holding delisted shares!

*wouldn't even get*

Land of typos indeed! @john

Bit supprised people still don't know what is happening here as it has been going on since May at least. BoD is selling shareholders short, down the river without a paddle and Genfang are trying to pick up assets on the cheap. They always said that if they got to 75% they would look to delist BCN. It may be a mixed blessing. Possibly more risk but also the protential of more reward. Of course, the immediate problem for people may be that you won't be able to hold in an ISA or SIPP (Although, I hear some SIPPs can but I haven't researched who).

Selling at 63p would be a silly move as you would even get your ZNWD shares (offer is 67.5p plus ZNWD shares as a div for everyone!). Check with your broker if you are allowed to hold unlisted shares in your SIPP. If you can then no issue at all. But even if you have to hold the delisted shares, I would ride the wave and see what happens. But DYOR.

One other option as I don't know how heavily you are invested here. I suspect that there will be another acceptance form (seems to have a deadline every week!). So accept on some of your shares and ride a comfortable remainder to the end.

Unless the UK or Mex. govs step in, the battle for 75% seems to be over. But the battle for 90% (compulsory purchase) is still going on.

I guess :*(

@john Agree, with hindslight Blair is one of the worst PM ever, and he still won't go away!
@Foz We'll see. Probably too small for them to be interested in but I wouldn't bet against the Chinese buying anything at the moment! ;)

Deal off. A drop yes but expect support around the low 40s at worst. 50% might be a stretch. I wouldn't think the price would stay there for too long either.

Exponential rise..... after an exponential drop? If I am lucky I might get out for break even! ;)

To be fair, is this really the asset for the UK Gov to grow some balls and draw a line in the sand? As much as I think this is a great asset and would like a better deal. It is in the Americas (outside chance; possible that the USA could lean on UK Gov to act? as it is UK listed), all of the early off take is going to Asia in any case, the BoD are totally on board! Unless something can be shown as not following regulations, and I think the BoD have done everything to undermine shareholders here. I can't really see a decent reason to block, although I still have my fingers crossed!
The long term problem here is there just isn't the will in the west (or vision) fund longer term projects. BCN wouldn't have had to go to the Chinese if there had been. That is why they seem to be hooving up all these great deals, because western institutions don't see a profit within 6 months!

I guess a few. I am still holding all of mine, actually, I think that until the deal is passed by the Mex. there will continue to be a rolling acceptance notice, so probably still no rush. This won't be sorted in the next week.

My only conclusion is that they think that this share will pop the some reason! But is that because they think they will get a better deal post de-listing? or the deal is uprated? or the deal is blocked?

Honestly, does anyone have any better ideas?