Member Info for mrtibbles

This behaviour by Endeavour is very suspicious, their bid should be suspended whilst investigations take place or even be disqualified whilst the ntegrity of Sébastien de Montessus is in question.
Although considering some of the things that have taken place in Egypt the past are these revelations such a surprise?

https://www.forbes.com/sites/allbusiness/2014/12/19/20-key-due-diligence-activities-in-a-merger-and-acquisition-transaction/#10d64aa64bfc

Excellent letter Mike!

Hi Dasut,
Thank you on behalf of everyone for speaking with Ross Jerrard on this , glad to hear they are on the case,we don't want Endeavour buying into Centamin with a controlling stake for such a cheap price just as things are looking better!

Hi Dasut & other members,
Today Saturday is the first time I have been able to access the Centamjn site since Thursday afternoon.
I use Firefox, Opera, Google Chrome,,Vivaldi & Bing web browsers on Microsoft and Apple computers and yet none of them were able too access the Centamin home page until today, all other sites were working as normal.

Centamin have a large amount of cash in reserves so if the board wanted to blow Endeavour out of the water they could easily get leverage of 10% using some or all of this spare cash to open a CFD long position in Centamin stock with negotiated voting rights, this would scupper any bid from Endeavour , unless of course Mr Sawiris put up a lot of cash.
But whatever this strategy would certainly increase any take over bid dramatically if it were to have any chance of success.

When you trade shares via CFDs your broker owns the physical shares.

This is because a CFD is what they call a swap trade. You have swapped the physical shares for a paper contract which gives you the right to 100% of the profits and losses but not the full ownership of the shares.

This also means that the CFD trader will have no rights to vote at the company's AGM or on other company related matters. Some companies also offer shareholder perks such as reduced flight prices or discounts in their stores, and again the CFD trader will not be entitled to these.

However the CFD trader will be entitled to take up a company Rights Issue and receive dividends, or have to pay them if short the shares - see how are CFD dividends handled.
Interesting point re voting rights

Often you'll hear about certain entrepreneurs using CFDs to build a stake in a company with a view to joining the board or using their share holding to influence general company policy. Perhaps pushing for asset sales or a general company reorganisation.

In these types of situations the CFD holder will have negotiated a special deal with their broker giving them full voting rights for their CFD position. So although they don't physically own the shares they control the voting rights.

Seems suspicious Cowichan and all part of the reason Endeavour and Mr Sawiris part owner wants to get control of Centamin on the cheap!

Yes and they will have been drawing a dividend whilst planning to carpetbag Centamin,
I can't access that website but the shares may be held in CFD positions so Endeavour only need to come up with 10% of the value and leverage the rest.
Endeavour may well use CFD holdings to launch a hostile bid at minimal cost on Centamin!

Bugger Endeavours debt, let them go and whistle, we need to keep Sukari, especially now,!
Why do you think Sawiris is after it, he knows a good thing with even better to come!
Lets get the next results out and then we shall see how things are looking!

Will write a letter this weekend!

Hope some others will do likewise, no good doing nothing or we will get shafted by this Endeavour carpet bagging!
Thanks Cowichan!

Thanks Dasut, I contacted Buchanon and they said they had checked the Centamin website with no issues but I am still unable yo connect since yesterday on Google,Firefox , Opera & Bing.
All other websites seem to be working ok!

Anyone having difficulty connecting to the Centamin home page?

Thank you for the reply Sotolo.

The trade deal won't happen yet, if ever, although it's good Trump innuendo to manipulate the markets!
If Cey has too much downside potential for you then you could always look elsewhere?

Dr Chopper,
You either don't know much about what Centamin has in it's reserves at Sukari and elsewhere or you are trying t talk the price down for some reason!
What is your reasoning to conclude that Centamin is overvalued when respected mining analyst's think quite the opposite and that this is an opportunistic attempt by Endeavour to gain Centamin at a knock down price?

Endeavour Centamin Take Over
Why should Endeavour pay more when they know most of anything worth knowing about what’s going on inside Centamin which is now floundering leaderless and at the mercy of those can manipulate the price down further until the initial paltry offer from Endeavour looks so generous that the retail investors will panic sell!
Naguib Sawiris didn't get rich as he is by over paying for things and most likely many in Egypt would see him having control from the back seat over Centamin as a good thing, the court case would most probably be forgotten and he no doubt has a good idea about what’s going to happen regarding the new mining laws and Law 32 (still being considered by the commissioners).
If this take over /buyout succeeds then I think those on here who have spoken out against share buy back in preference of big dividends will either have a shock because the dividends are no more or they will have achieved the aims of the agenda they have been working to which was to make Centamin all the more easy to take over!
Remember Endeavour will control 53% so they will decide on any dividend payments or not!
I notice that Pushmepullyou and some others have been remarkably silent whilst all this is going on which is unusual?
Sotolo despite his claim to hold a huge number of shares has made his usual predictions of doom and gloom which sows doubt in the mind of any wavering Centamin share holder?
Sadly as things appear at present the long term share holder have been tucked up and will be fleeced, just like the Acacia share holders were!
Loyal share holders should not be in this position, if the situation at Sukari was so bad then why are Endeavour and Naguid Sawiris so keen to get their hands on it?
Endeavour is desperate to get their hands on Sukari and I doubt that Mr Sawiris would be interested unless there is a good profit to be made, the very fact.
Mr Sawiris has a Twitter account, so if there are any Cey share holders that have made contact with him via this in the past they may now care to ask him why he would like to gain control of Centamin?

It is most likely that Mr Naguib Sawiris will already have a very in-depth knowledge of what goes on inside Centamin and Sukari.
When the Sukari /Centamin licence was suspended by the Egyptian court Centamin stopped production for a very short time, then EMRA told Centamin to just carry on with production as normal no doubt this would be the case with any new operator such as Endeavoour & Mr Naguib Sawiris, just so long as the gold keeps coming out and profit share continues that is EMRA's main priority,.

Agree Rebess, after the sudden RNS U turn on guidance due to 'Unexpected ongoing grade problems" of 2018 , the failure of the sole LHDR without any credible contingency plan and now the recent impending departure of the CEO Pardey without any successor in place.
Also considering the Centamin management had insider knowledge of the 2018 Endeavour interest, not to mention having had Mark Morcombe now of Endeavour in the Centamin camp with access to all the confident ail drilling and reserve information this potential merger/takeover proposition looks very suspect!
The bailing out of Pardey just prior to this public announcement of an intended Endeavour take over has been made all the more easier by the failure of the Centamin board failure to use spare cash to underpin and strengthen the Centamin share price by reducing the huge number of shares on issue.
Far too many Centamin shares are now held in huge CFD positions by those who are only interested in a quick profit and yet because of the numbers of shares they hold have huge influence over whether to accept any offer from Endeavour.
Although the Centanin board are going through the motions of rejecting this approach now Endeavour have made their intentions to steal Centamin at a knockdown price there is little the small private investors can do about it, retail investors such as us will have to quietly accept being shafted or complain to the appropriate regulator.
EMRA they will have been made aware of this approach and bearing in mind they own the mine and have rights on all the plant their only interest is keeping gold production going!
If this takeover goes ahead how can any dividend payment can be made, certainly not at the present rates when considering that Endeavour are already in debt and have ongoing threats to their other mines in West Africa?

I fail to see why Endevour should gain 53% control of Centamin and the deal they propose gives all the advantages to Endeavour share holders at the expense of Centamin share holders.
Sadly though without a functioning and credible CEO the Centamin the negotiating strength is weakened.
if a share buy back had taken place Centamin would be in a stronger position

I fail to see why Endevour should gain 53% control of Centamin and the deal they propose gives all the advantages to Endeavour share holders at the expense of Centamin share holders.
Sadly though without a functioning and credible CEO the Centamin the negotiating strength is weakened.
if a share buy back had taken place Centamin would be in a stronger position