Member Info for NewKOTB

"WTF is happening with the share price again today?"

Could be a leak and/or Mr Market thinking we will use equity again for Norway !

“Given the volume the last two days somebody maybe had some advance knowledge of the SV101 moving from SDX to Chariot.”

What good its done them and us for that matter 🤔

"Dividend yield will be ~11%, which is higher than the industry average of 6.7%."

OSD,

Askar did the same on last notification, took a week to be reported, very naughty, our house broker should remind him of the UK disclosure rules and that this is not China. Yevgeniy Feld may be buying too, now that would be interesting !

aimo & dyor

Remember, it was well reported in run-up to, during and post TB Preliminary Approach in 2022 that DARK also has several other 'interested' parties. Would they still be interested, even more so I would say, given the progress DARK has made over the past few years.

aimo & dyor

Thanks Flexmw, in other words, for me, MF was CEO in name only, Mercuria held the strings and have been imo from the start, puppet-master to the puppet. I also would have thought "disagreement over shareholder returns" was probably the straw that broke the camels back. Stepped down, resign, clear case of, "I say tomato you say tomato", for me MF was on too good a thing and too young to 'step down' without have a new position lined up. Pressured to go, all in my opinion of course.

As of yesterday, the 'new' mgt now have no obstacles in their way, lets see where we go from here.

aimo & dyor

"I would conjecture out with the old, in with the new - having experienced it myself on my old companies takeover. Leadership team was completely gone withing 12 months..."

Except SQZ took over TW and all 3 of 'our' top team have bit the dust within 12 months, Just as we prophesied at the time !

Good question in Q&A's about Mercuria and its influence, we all know this is now a full on Trojan Horse for Mercuria, why else would the top guy from Mercuria take a place on our board. I still think within 18 months (Labour shenanigans aside) SQZ will be taken private, hopefully at a price that would justify those ~72% of voters that voted through the TW deal.

PS. At current rate of BB, the £15m allocated will be exhausted after 2 months.

aimo & dyor

Mommur,

Morning, off the the races indeed, RNS buyback transactions explain why we raced up circa ~12p/s early doors yesterday, guess same today. See the shares are being held in treasury.

Oh, btw, I wasn't convinced about the reason for Robbie Flegg 'departure' during Q&A yesterday without having another CEO lined up, were you, David appeared to struggle with that one a little ?

aimo & dyor

Both David and Martin came over well, particularly David.

Https://www.serica-energy.com/downloads/presentations/AR_2023_final.pdf

NQM,

I see your point and agree, however as you and I know, PE like to extract as much cash as possible and load up debt. I fully expect dividends to continue to be maxed out whilst our drawdown on the RBL jumps significantly this year.

Mitch's last day today as CEO, new M&A on horizon that comes with new CEO, AA maybe !

ps Mr Market this morning certainly likes our direction of travel.

aimo & dyor

NQM,

Cash "of £291.0 million at 31 December 2023..." so still plenty of opportunity for cash deals.

aimo & dyor

Sorry about spelling error on earlier post, just woken up, no glasses and on phone whilst still in bed !!!

More so, interesting that we have started a share buyback when hopefully cash is needed for any M&A to reduce our reliance on our US$1,050m RBL drawdown facility. Call me cynical but has this TINY £15m BB been engineered to aid letting out the TW founders ! Also, as I have feared, for me this RNS and distribution of cash is fully aligned with how PE firms work and in-keeping with TW handling of cash rather than SQZ historically cautious approach. Mercuria's influence strikes again !

aimo & dyor

Divided held and share buyback …

“ The resilience of Serica's financial position allows the Company to maintain the final dividend at 14p per share meaning an increase in the total dividend for 2023 to 23p per share compared to 22p per share in respect of 2022. Furthermore, the £15 million share buyback initiated today is a demonstration of the Board's confidence in 2024 cash flows and the longer-term value of the Company's assets.”

Harbour Energy - a reviewToday 09:17

To recap on managements performance and progress since Harbours inception -

1. Paid down over 90% of the debt, which amounted to 150% of the market cap. In doing so they have protected shareholders and the company. Oil could fall to $40, Harbour would survive thanks to this action.

2. Returned billions back to shareholders, introducing a sizable dividend that is comfortably covered by earnings and that continues to rise, AND bought back nearly 20% of the shares, returning more value to shareholders in a non taxable way.

3.Embarked on one of the boldest and ambitious takeover, buying a company five times their size, diversifying their portfolio all over the world which as well as offering shareholders protection from cowboy governments (no one saw the WF tax coming) will also significantly increase earnings.

Outstanding work, so far.

Share shuffle… 👍

Massive factor for me will be any change in Askar Alshinbayev holdings. He came from nowhere with 6.19% holding notified in July 2023 as of yet no notification to say otherwise ;

https://www.lse.co.uk/rns/CHAR/holdings-in-company-tu6uf79giow1jgc.html

We know Askar is embroiled as Kazakhstan’s Secret Billionaires and has appeared on Forbes Rich List, so what has he to do with Mgt buyout ! He's also via connection with Meridian Capital well financed as well as founding partner, interestingly the other founding partner, Yevgeniy Feld also controls a holding in CHAR via YF Finance Limited. The thing that jumps out is neither have their TR-1's associated with Meridian Capital but registered in their on individual entity... hummm !!

https://meridiancapitallimited.com/management/

So, my thinking is, will Askar and Yevgeniy together with CHAR mgt work on taking CHAR private or will Askar and Yevgeniy make a play (or anther one if it was them last year) themselves. Askar last RNS holding was announced when the SP was circa ~15.5p, so minimum offer would be above that.

Although it can't be relied upon, Simply Wall St has a valuation target of 109p/s as fair target, with analysts at ~45p/s, then of course we have Malcy constantly stating worth 100p/s

As others here have alluded too, an offer of ~30p/s imo would reflect the current risks in play. Once these risks are eliminated one by one ( not long to wait for that to commence ) the price of 30p/s would be confined to history.

This brings me back to who was it that made an approach and got knocked back and what was on offer. Lots of questions but as of yet very few answers. One thing is for sure, with what we have already we are worth significantly more than 9.84p.

Are we in play is the big one, we could well be, interesting times for CHAR shareholders !!!

aimo & dyor

The 'pressure' was from a direct question within the Q&A session that AP was unprepared for, hence had no choice than to let the cat out of the bag.

https://stream.brrmedia.co.uk/broadcast/preview/65705f5f85e1630925165801

aimo & dyor

Would a mgt buyout be out of the question ?

Probably not I would say .... !!

Some big hitters joined our board recently with no doubt ideas of bigger and better things lead by Westward Investments (Adonis Pouroulis – CEO). The approach (which we know next to nothing about ) for our whole company that was given away under pressure on live feed interview could have been the push mgt needed. Have it or loose it !

Just a thought and putting it out there ...

aimo & dyor

NQM,

Don't worry, I'm sure there is a willing buyer not too far away that's happy to pay over the odds for assets, profits from which will be subject to WFT. The dealmaker could be the fact NEO carry significant investment allowances to offset tax .... !!!

Now who made that argument recently !!!

aimo & dyor