Member Info for Maverick7

sasa,
if SQZ pay a special dividend, KIST will come up with a lower counter offer and as been explained the SQZ share price will reduce and attract bargain basement offers from other companies

b. if Serica announces, declares or pays any dividend or any other distribution to shareholders (in which case Kistos will have the right to make an equivalent reduction to the Proposed Combination Terms), excluding the Serica Dividend;

NewKTOB - you stated that
"Next offer will be for original cash 246p plus 0.4 Kistos share .... give it a week or two, that will convince the big players to swing his way."

What makes you so sure that this will be the case? My views are that AA is taking an almighty gamble. If he doesnt acquire SQZ, both share prices will be down signficantly, KIST probably more so. And if there is another player in the market for SQZ, KIST is going to come out worse.
Anyway, looking ahead to the winter, now is the time to take out any gas play.
Does AA have a plan B or C?

Looks like AA is taking an almighty gamble here. If he doesnt deliver on the SQZ aquisition or another 3rd party gazumps his bid, KIST is going to come tumbling down.
I hope he has a Plan B or C

Pursuant to Rule 2.5 of the Takeover Code, Kistos reserves the right to:
1. Vary the form and/or mix of the consideration for the Proposed Combination at its discretion; and
2. Make an offer at any time at a lower value or on less favourable terms:
a. with the recommendation or consent of the Board of Serica;
b. if Serica announces, declares or pays any dividend or any other distribution to shareholders (in which case Kistos will have the right to make an equivalent reduction to the Proposed Combination Terms), excluding the Serica Dividend;
c. if a third party announces a firm intention to make an offer for Serica on less favourable terms than the Proposed Combination Terms; or
d. following the announcement by Serica of a Rule 9 waiver pursuant to the Takeover Code or a reverse takeover (as defined in the Takeover Code).

That’s because they know nothing, why would AA want to disclose anything to those two

Sasa - there are plenty of shares to put SQZ funds into should we succumb to this opportunistic takeover, but we are unlikely to see the 10,000% rise we have seen with SQZ

some interesting comments about our current market valuation and whether the current BOD can get some sort of true value, however, Faroe and Ithaca were bought for peanuts and this is likely to go the same way

https://www.energyvoice.com/uncategorized/398204/parkmead-finally-nears-drilling-decision-on-skerryvore-north-sea-field/

As ever Gil sounds confident

http://www.alignresearch.co.uk/eco-atlantic-oil-gas/dr-michael-green-interviews-gil-holzman-ceo-of-eco-atlantic-oil-gas/

Well said QC & New
The fact that SQZ BOD said that they had considered the 2nd offer and took them 6 days to reply, this acquisition is just a matter of time and agreeing the final transaction.
SQZ did a great job, but it’s now time to hand over the batton to a more dynamic and ambitious team. Both TTF & NBP will rocket this winter and having 40,000 boe is going to produce very healthy returns for shareholders and a war chest for the next acquisition.

https://twitter.com/neilbelieves/status/1547965006070759424?s=21&t=GmeqWOIDqczx--k3hwYrAQ

https://twitter.com/neilbelieves/status/1547965006070759424?s=21&t=GmeqWOIDqczx--k3hwYrAQ

Hi Sasa - regarding North Eigg, yes apologies with that statement, however, there is some commentary on pinning hopes on North Eigg. As good as the seismics are and its right next door to Rhum, what if it doesnt come in? Where does that leave the share price and reserves repalcement? How many times have we come across appraisal wells that havent come in, so even assigning a 50 COS on Eigg is pretty dangerous

thats any easy one to answer New, SQZ share price will tank down to the 250-280p levels short term, will increase then as we approach interim finacials and then its head and tails for the North Eigg drill, its a traders dream

27th April BP inform their intention to sell - were they tipped off?
16th May - KIST make first approach to SQZ
17th May - SQZ board reward themselves for additional LTIP for a 100% increase in share price

also everyone is assuming North Eigg is going to be successful, its an exploration well and this is oil and gas, even SQZ said that it was 25-30% chance of success, has everyone forgotten the fiaso of the last HPHT well that SQZ undertook

KIST have already said that they would return a fair chunk of that SQZ cash back to shareholders, so what difference would it make if we were owned by KIST or SQZ now, SQZ just now copying what KIST have proposed and are on the back foot.
Wasnt it bleedingly obvious that some entity would have seen that pot of gold and say we want a bit of that, so niave of SQZ BOD to not recognise that as a risk.

KIST up 1.7%
SQZ down 1.7%

So following the 2nd approach by KIST on the 24th May and after “careful consideration” our management team took a full 6 days to reject the offer:
“Following careful consideration, the Board of Serica, together with its financial advisers, unanimously rejected the Kistos Possible Offer on 1 June 2022”
The first offer was rejected within 2 days, this second offer required more careful consideration such that they had to consult financial advisors.
It’s clear the second offer peaked their interest and they took their time to consider it.
This deal will get done, its just a matter of dotting the i’s and crossing the t’s, sort the fine print.
It’s all about who you know, and AA is well connected with the city big wigs, they will all take their cut. The institutions will take 25-40% in todays market. We all saw it coming, even communicated our concerns to the board but they wouldn’t listen.
SQZ will never see full value, shareholders of Ithaca, Faroe, Premier, EO will tell you that. The SQZ board are well and truly snookered, you could even say CHECK MATE.
Is there a white knight - time will tell

share buy back - no thanks, to me its when a company has no clue what to do with its cash. There are plenty of targets to go hunting with - they have a massive cash pile and its getting bigger by the day - do they not know what they are going to do with it asides the dividend