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This bit of write up I like - "short working capital cycle and a business model that minimises balance sheet risk... bulk of profits is converted into cash ... This will be used to ... fund a progressive dividend policy
The Company, " does not intend to report quarterly going forward
No reason? don't they look at their balance sheet - Nice rise, shame about the spread.
"world class gas play ...much like the recent evolution of prolific gas plays in the United States that have transformed the U.S.A.'s energy independence trajectory, our results continue to indicate that Georgia has the natural gas resources to follow a similar path." That last statement in the interim results tells its own story - FFR are laying the foundations for the majors to step in - unless anyone thinks a minnow - the size of FRR - could have transformed the USA's energy independence on its own!
December
The Company, " does not intend to report quarterly going forward ".
The Company will notify unaudited interim accounts for the six months ended 30 September 2015 by 31 December 2015. The Company will publish its audited accounts for the year ended 31 March 2016 by 30 September 2016.
That is my understanding too. OCT said " it does not intend to report quarterly going forward".
My sentiments too.
100% correct - expect you forgot to add in growth - which was 30% from last year and expected to quadruple by the year-end. Now carry out a geometric progression ratio to provide the constant rate of return over the time period you refer to and see what you get?
D66 - I've marked your words' and the result is (D-). You did gain 20% for your circumstantial evidence relying on inference to connect OCT's growth and earnings to a conclusion of fact, however 80% of marks were lost as you provided no direct evidence to support the truth of your assertion directly—i.e., without need for any additional inference. Need to do much better to gain a A+. Would suggest a little more research.
Deferred Share of 0.50p? is this a way of not pay out dividend?
s
I was a big advocate of SEA and averaged 20p share but sold out at 27p as was not happy with trading update on impairment charge due to Lansdowne Oil. At no time did I think SEA would issue a profit warning, particulary on their R2S Visual Asset Management business as they claimed it had a "Strong outlook for the start of 2015 ......and a .... strong order book for 2015" . The CEO recently said " In the face of weaker oil prices, the Company has shown resilience....... R2S VAM continues to show growth and attractive margin potential" but a few week later says "SeaEnergy does not now expect to achieve the overall levels of turnover it previously anticipated". Hello, what happened to your Governance, namely to provide leadership, to ensure that the necessary resources are available to drive the business forward. The oil crisis was no secret so what was contingency strategy? Well by the looks of things - very little! To respond to oil price weakness Sea should have been diversifying R2S Visual Asset Management business into new sectors e.g.. Nuclear energy, Building sector etc. Their Forensic side is currently outperforming its budget. At these price levels one could be tempted to buy but what is the upside for the next twelve months? I see none. So it will have to go single digit for me to buy as a long term investment for I see very little movement here for the next 24 months. I do give credit to SEA for being communicative and open, ensuring that all information is available to all shareholders, even the bad. That shows to me that SEA is a honest and trustworthy company and I believe will turn the business around but the wait is to long for me. Shame, but many a good company are reeling from the oil demise.
I stand corrected - need to have refresher course on my maths - would have helped if I first of all had tallied the percentages of holdings. Doh!
Pablo - always willing to be corrected. However, my understanding of free float is the proportion of shares that are held by investors who are likely to be willing to trade. It is a measure of how many shares are reasonably liquid. It therefore excludes those shares held by strategic shareholders - Directors-Fund Managers etc. To this end, I calculate from the strategic shareholders listing below that of the 56,364,823 shares in issue only 14,168,254 (25.14%) are not in public hands. How do you calculate it to 60%? SEA Share Capital: Total ordinary 10p shares in issue 56,364,823 Directors and Significant Shareholders No. of shares % Stephen Remp former Director 4,202,272 7.46% Lampe Conway 4,018,836 7.13% Spreadex Limited 2,235,526 3.97% Steven Bertram Director 2,230,133* 3.96% Louise Warner 2,005,000 3.55% John Aldersey-Williams Director 1,769,596* 3.14% Mike Comerford former Director 1,386,485* 2.46% Christopher Moar former Director 420,932* 0.75% David Laing Director 80,000 0.14% David Sigsworth Director 60,000 0.10% TOTAL SHARES NOT IN PUBLIC HANDS 14,168,254 - 25.14%
thanks for the info - have you got a link to the said R note/s.
Of the 56,364,823 shares in issue only 14,168,254 (25.14%) are not in public hands (free float). Easy to understand the price volatility. However with the full year results expected to be in line with expectation, this share could and hopefully will see a rapid rise. Any further news on contract wins for R2S or additional vessels for marine business in 2015 (which is expected) means additional profitability and will duly add value to the business and increase the share price. At present there is no broker coverage for SEA which I think would be a great asset now but expect Directors will have to release some of their shares for this to happen, There is the option of issuing more equity, but given the profitability SEA now find themselves in I prefer for the stock to remain illiquid as there is much more chance of a rapid rise in share price than on the back of issuing equity.
R2s a system with the ability to diversify. http://www.investegate.co.uk/seaenergy-plc--sea-/rns/r2s-event-showcases-next-generation-of-technology/201503260909225365I/
Only three weeks to go for the Company to release its results for the year ended 31 December 2014 on 16 April 2015, namely: · Full year results set to be in line with expectations · International growth across the business‎ continues · Significant turnover increase in 2014 for Marine business · R2S Visual Asset Management achieves record turnover in 2014 with strong order book for 2015