Member Info for NewKOTB

BoT's back to their 'normal' activity I see today .... So therefore one could safely assume that they are run by one or more of the 8.3 notification holders as now we are out of offer period, they are free to roam once more. Otherwise, whilst in the offer period multiple 8.5 would of needed to be issued, plus it would of given game away about who owns these BoT's.

aimo & dyor

"nice pleasant surprise with today's rise.."

Indeed so, doesn't look like large holders are exiting, esp ones that came to the party late, in fact some really decent buys going through ..... Are our board, after all the criticising I have put their way recently, finally, I say finally going to wrap-up a mega deal, or even a deal or any size I wonder ! We certainly deserve one.

Is this why our board used 'STRONGLY' in the response to KIST approach last month ?

"Serica shareholders are strongly advised not to take any action.."

Or is the rise just a response to commod's and macro events running into winter, see other NS players are doing well today also.

aimo & dyor

upomega,

No idea why I'm afraid, no reason to afaik. Would be something for our board to put their collective hands in their pockets and now buy on the open market, not just freely taking LTIP's etc .... Not unlike all PI's here, including the Hardy's for which the board owe an enormous debt too without whom ACW et al would of been out of a job in little over a month.

aimo & dyor

Final % notification 8.3 RNS's - total declared : ~59% ( COB 10/08/22).... until next time !!

Amounts to right are latest that replace earlier disclosures.

Abrams Bison Investments 3.1 3 2.9
abrdn plc 2.81 3.19 3.43 3.61 3.76 3.78
Acadian Asset Management 1.96 1.89 1.84 1.8 1.71 3.78 1.62 1.6 1.57 1.52 1.45 1.37 1.36 1.35
Allianz Global Investors 1.19 1.11 1.09
AXA Investment Managers S.A 4.92
BlackRock 5.18 5.2 5.17 5.18 5.01 5.03 5 5.03
BNP Paribas 1.51 1.52 1.51 1.5 1.47 1.46 1.45 1.42 1.4 1.39 1.35 1.32
Board Of Directors 2.669
Cairn Capital Limited 1.64 1.69 1.73
David and Monique Newlands 1.2 1.195 1.19
David Hardy 10.42 10.45 10.47 10.49 10.52 10.53 10.56
Dowgate Wealth Limited 0.13 0.12
FMR 0.25 0.28
Hargreave Hale Ltd 2.7627
Ian Alexander Liddle 0.03
Janus Henderson 3.6 3.57 3.56 3.55 3.59 3.55
Jefferies International 0.13 0.07
JPMorgan Asset Management 4.55 4.56 4.59 4.73 4.74 4.77
Legal And General  0.13
Man Group PLC 2.8515 2.8509 2.852
Marshall Wace LLP 1.71 1.68 1.67 1.68 1.67 1.65 1.64 1.63 1.59 1.58 1.56 1.54 1.52 1.51 1.49 1.47 1.46
National Petroleum Corp of Namibia 1.1
Polar Capital LLP 2.85
Royal London Asset Management 1.242 1.22
Stonehage Fleming Investment 1.49 1.47 1.45 1.44

thanks Flexmw,

Everyone keeps on about if we find 60mmboe the SP will reflect that ..... sorry, imo we will be lucky for the SP to gain 25p, or around valuing the find at 100p/boe. Don't pin your hopes on NE adding instant and significant adding value to our SP. Yes it will make SQZ more desirable but little else until into production. Just have to look at how Columbus was reflected in our SP, FDP was made in 2013, first gas 2021.
If this document is correct, NE well will be P&A once data has been gained, the traders / Bots will read the RNS as such, P&A, then guess what. Plans will then need to be drawn-up to drill a production well/s and for SQZ to get NE into production by 2026 they will need to go some. Appears the expo well is being done on a cost sensitive basis, already had one stuck bit and had to re-spud the well.

aimo & dyor

Newlands (David and Monique Newlands) have sold down from 1.2 to 1.19, not sure what you are referencing.

Are JPM going for the 5% I wonder ..... mgt had better watch their backs if that's the case, or have they sensitive ears ... whispers over the pond !
Transaction executed yesterday, so lets see what JPM do on next TR-1, if over 5%, that will raise a few eyebrows .

aimo & dyor

Chinch,

The levy passed into law already makes provision to up the % take ..... should they attempt to back-date, well, hate to think what that would do to the industry and these are 'Conservatives' in charge.

Commod trading companies, likes of Vitol, have got away scot-free, they have made obscene record profits .... O&G companies do all the heavy lifting / risk taking for scant reward yet trading houses are free to exploit the elevated commod pricing without comeback.... anybody see anything wrong with that !!!

aimo & dyor

chinch,

Agree, I'm not liking the clauses within levy bill either, trapdoor that could destroy investor confidence, hence the SP, not that It's too good atm either. .... :-)

If, and big if, SQZ pull off another deal, it shouldn't be NS focused imo.

AIMO & DYOR

Today is a classic example of how the market views the dynamics of KIST & SQZ mgt ......

KIST : +24pts (+5%)
SQZ : -12pts (-3%)

aimo & dyor

FF,

"Dont get why some are angry we didn't buy Kist ?.."

That was not the issue ..... I never wanted us to buy KIST but I would have sold if a deal had been agreed for ~550p/s with vast majority of it in cash. That's now today's chip paper, SQZ need to move forward, prove themselves and to us, capable of another deal, transformational would be all the better and soon, otherwise, in meantime go heavy on PR and get our SP to a more reflect price to stop anymore chancer's. Having ~£500m cash and equivalents on our books will not go un-noticed for long now AA has placed us under the spotlight.

aimo & dyor

TI,

"Share price was only £3.05 before the deal was first announced..."

Nice to see vultures moving in .... aside from fact we were vastly undervalued at that point :

We have since added ~£50m cash, moved one month closer to NE results and interim's in September and possibly that all elusive 'special dividend' too.

Cash and equivalents now >50% of MCap with zero debt. Whilst it remains so, we remain vulnerable, that hasn't changed, regardless of how poorly or well ACW, viewed the last month.

aimo & dyor

QC,

"The issue here is a lack of engagement in a process that they have indicated is of strategic importance to their own company. If KIST's offers were a joke then what was SQZ's offer to acquire KIST? If it is true that SQZ's BOD failed to engage even in following up their own takeover offer, this suggests they just want to get on with running SQZ as a 'lifestyle' company...."
"For many years several of us long-time posters gave the BOD the benefit of the doubt when it came to M&A. We ascribed their inaction to discipline and patience where it now looks (to me) like, if I am being charitable, they lack the skills and experience to succeed in the competitive M&A space and, if I am being uncharitable, want to keep their noses in the trough..."

Nothing I can add, agree fully.... ACW et al, prove to us shareholders otherwise, that said, what role exactly did our 'advisors', Rothschild & Co play in this fiasco too !!

Half decent sleep last night, head re-set ready to go again ....

aimo & dyor

messer3,

"Far better to be seeking a deal with an ever growing bag of cash..." do you not see that is why we are in the situation we find ourselves today. AA will not be the last to see our cash as a free option, cash is net equal in any t/o, whilst it makes up >50% of our MCap ACW will need to continuously look over his shoulder.
SQZ Achilles' heel is their ability to do deals, outside of ACW BP's connections, SQZ have not completed an acquisition , if I'm correct, for over a 10 years.... what will it take for this to change.

aimo & dyor

sasa,

Agree with what you have said, my gripe is our board have shot themselves in both feet, once by lack of historic M&A action, secondly when a opportunity comes along to be either acquiror or acquiree they appears to make no effort in progressing either, even though they instigated one of the options.

As I mentioned, to help put some context and clarity behind today's RNS's, would like to see a statement from ACW before 8am tomorrow to fully explain his (the boards) actions, especially, if they did or did not engage in meaningfully discussions and more so clear plan forward, not the same old same old .... blah blah rubbish the past 5 years they have been churning out.

aimo & dyor

dick,

"Not to enter into serious dialogue on a potential transaction that might well have been of benefit to both parties smacked to me of a sense of entitlement and enlightened self-interest in equal measure...."

Exactly imo

"The kistos offer was derisory ..." we all know that...

Firstly, will the market see it like that.

Secondly, failure of our board to engage is another matter entirely.

aimo & dyor

Likes of BlackRock are not the type of investors to be made fun of .... wouldn't be surprised if they or JPM start to make waves as they like us see clear value here, failure to engage, really, they have come across boards like ours before. Inaction is not part of their agenda when you have best part of ~£50m tide-up in a company that just point blank refused to engage in the best interest of the shareholders.

ACW at al could well be fighting for their jobs sooner than they think.

aimo & dyor

upomega,

A deal to increase to cash element would of still ensured exposure (0.4 of a kistos share) & any upside to NE .... CASH would of been returned to shareholders. For our board not to engage is tantamount to putting your two fingers up to us shareholders.

We need a statement from ACW before 8am tomorrow to fully explain his (the boards) actions and more so clear plan forward, not the same old same old .... blah blah rubbish the past 5 years they have been churning out.

PS. BETTER NOT BE SHARE BUYBACKS EITHER.

aimo & dyor

upomega,

ACW et al ( if AA is to be believed) "failed to engage meaningfully.... ", that's what is getting me wound up, for either our approach or that of Kistos.

As for their "integrity..." well, lets just leave it as that.

There had better be a mega deal on the table, otherwise changes at board level will occur given we have 46% of share capital held by institutions with >1%. Don't think they will be too happy given how they represented shareholders either.

aimo & dyor