Member Info for NewKOTB

Cash now 33p/s LESS than offered before with just 0.1068 of a KIST share in return ...

As I mentioned KISTOS share price has been pumped by AA city chums to get the deal through ... !

aimo & dyor

What a ****ss take ..... more paper and less actual cash .... !!!!

As I posted last week, AA now trying to use the pumped SP of KISTOS to offer SQZ holders LESS

Tell me what value has been added to Kistos as a company from two weeks ago that AA thinks he can get away with this 'new' offer .... ffs

VOTE NO ....NO .... NO !!!

aimo & dyor

Flexmw,

Yep, I'm waiting mainly on the Hardy's + ACW, interesting to see their current situation .....plus how many others come out of the woodwork late on, may even be a surprise or two...!!!

We have ~40% declared to-date ...

aimo & dyor

To-date, these are % notification 8.3 RNS's - total declared so far : ~40%

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
Acadian Asset Management 1.96 1.89 1.84 1.8 1.71 1.68 1.62 1.6
Allianz Global Investors 1.19 1.11
BlackRock 5.18 5.2 5.17
BNP Paribas 1.51 1.52 1.51
Cairn Capital Limited 1.64 1.69
David and Monique Newlands 1.2 1.195 1.19
FMR 0.25 0.28
Hargreave Hale Ltd 2.7627
Ian Alexander Liddle 0.03
Janus Henderson 3.6 3.57 3.56
Jefferies International 0.13
JPMorgan Asset Management 4.55
Legal And General  0.13
Man Group PLC 2.8515
Marshall Wace LLP 1.71 1.68 1.67 1.68 1.67 1.65 1.64
Polar Capital LLP 2.85
Royal London Asset Management Ltd 1.242
Stonehage Fleming Investment 1.49 1.47

That was last Fridays position ... moved up a few more since then... :-)

muckle,

That's how it works I'm afraid.... :-(

I would be amazed if SQZ did not have more than AA approach us this year or before for that matter, after all, it's in our accounts for all to see and doesn't take a brain surgeon to see what value's on offer here even at ~500p/s.
ACW should be on the blower saying, 'I know you want to talk so lets talk serious offers now', only if ACW et all think AA has traction in his approach, otherwise, stay independent.

PS, just hit ATH since AA's approach last week.

aimo & dyor

What if SQZ want to 'buy' time ..... reason being, to allow for NE drill results or hopefully allow conclusion of talks SQZ may be having on a major acquisition ourselves.

So, how can you do that ..... for me, the simple solution is to buy a small O&G player anywhere on the planet, we know Flegg stated he's now open to options outside UKCS, so for example SDX is currently in play. How would buying SDX (est ~£22m) help buy time, well the offer was based upon our assets at the time, if we could gain a binding offer from anyone then that would force AA to re-set the clock with a new offer as the company could say it no longer reflects acceptable valuation ( not that AA's offer ever has ) Bit drastic, but drastic times need drastic measures.

One thing for sure, time is not on SQZ's side atm... tick tock, tick tock, Mitch ran up the clock !!

Not sure if that's a viable or practical option btw, as we don't really want to risk AA going hostile and winning the vote.

Just my thought for the day fwiw.

PS ... SP has been all over the shop this morning.

aimo & dyor

To-date, these are % notification 8.3 RNS's - total declared so far : ~40%

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
Acadian Asset Management 1.96 1.89 1.84 1.8 1.71 1.68 1.62
Allianz Global Investors 1.19 1.11
BlackRock 5.18 5.2 5.17
BNP Paribas 1.51 1.52 1.51
Cairn Capital Limited 1.64 1.69
David and Monique Newlands 1.2 1.195 1.19
FMR 0.25 0.28
Hargreave Hale Ltd 2.7627
Ian Alexander Liddle 0.03
Janus Henderson 3.6 3.57 3.56
Jefferies International 0.13
JPMorgan Asset Management 4.55
Legal And General  0.13
Man Group PLC 2.8515
Marshall Wace LLP 1.71 1.68 1.67 1.68 1.67 1.65
Polar Capital LLP 2.85
Royal London Asset Management Ltd 1.242
Stonehage Fleming Investment 1.49 1.47

Yesterday, we had a sizable number of high value buys ... yet we ended the day almost flat !!

So, I do subscribe to the price being held back I'm afraid.

aimo & dyor

whimax,

Hope you are keeping well.

Yes, I agree that it has been stated, “we have just had a successful fund raise and we’re well funded for the YEARS (plural) ahead”. The thing is, for me that cash / statement will do nothing more than virtually maintain the status quo, takes no account of capital commitment to get the project beyond FID and production ... the nature of O&G, plans changes, development cost particular increased YoY. Likewise, Duncan was not going to say, 'last funding was inadequate so we will need another'. You have been in the game for many years so know what's what and one thing you always get hit with are surprises, some good, others awful.
Like you, I still have faith in CHAR but see much more clearly than ever before, even having been poked in the eye several times with a sharp RNS, like you and others, want the best for SH.

Have a good evening .... atb

aimo & dyor

To-date, these are the notification 8.3 RNS's - total declared so far : ~37%

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
Acadian Asset Management 1.96 1.89 1.84 1.8 1.71 1.68
Allianz Global Investors 1.19 1.11
BlackRock 5.18 5.2 5.17
BNP Paribas 1.51 1.52 1.51
Cairn Capital Limited 1.64
David and Monique Newlands 1.2 1.195
FMR 0.25
Ian Alexander Liddle 0.03
Janus Henderson 3.6 3.57
Jefferies International 0.13
JPMorgan Asset Management 4.55
Legal And General  0.13
Man Group PLC 2.8515
Marshall Wace LLP 1.71 1.68 1.67 1.68 1.67
Polar Capital LLP 2.85
Royal London Asset Management Ltd 1.242
Stonehage Fleming Investment 1.49 1.47

"the sp action doesn't signal any bid?...."

I take it you have not been involved in many stocks that have been taken over I guess and followed the SP action on preceding weeks / months. aimo

Ajilimon,

"I suspect, much more skin in the game than you do..."

And do you think he will not take part in the placing, so as not to self-dilute.

We said a few months ago that placing would not happen, yet it did 18p .... the SP is behaving as it did then, suppressed and controlled afaic..... if a bid of 78p arrives tomorrow, I would take without a doubt I'm afraid, although a bid would also explain the SP action of late.

atb, aimo & dyor

"No. I don't expect any bids but I do expect a farm-out very soon..."

Which is why our SP is 'stuck in a rut' .... we will need to fund our share of CapEx, which, as yet have no idea of the financial commitment CHAR will need to undertake. One hopes' the farm-in would fully cover and more of our share, but if we only farm-in, lets say 10% of our equity, giving away 7.5%. I don't think that will raise nearly enough cash, hence my worry of an announcement alongside of farm-out for equity raise, at mates rates of course. All depends upon how much we want to keep going into production. Just my dark thoughts.

aimo & dyor

Just hit new high since the approach last week but still still way off ridiculous offer price, 382p

Ideally, first need to see our SP well above 382p ... then it may get interesting.

aimo & dyor

BG,

"the KIST offer looks worse as the majority of the offer is based on a fixed cash element...."

Thanks for your thoughts, however I imagine AA would disagree with above, as there is one critical element that turns your view inside-out. AA will be using our cash to pay for the acquisition of ourselves, the more of our own cash used the better for AA, not surprising he's attempting to use the whole ~£450m of our cash within the cash element of offer £670m .... I view the part share offer as their way to add 'value'( using Kistos's improving SP ) to the deal without costing AA a thing. Likewise, cash build during term of offer will also be a freebie bonus for AA to the tune of ~£80m unless our board gets AA off our back.

How I would love to know which way the Hardy's swing, they're kingpins for making this deal happen or not as the case may be, or will AA be forced to go hostile and risk failing as that would hopefully elevate our SP and provide some downside protection to the alternative of AA pulling-out, so long as he does fail !

aimo & dyor

YJ,

I can see your logic, so why then is SQZ (465p & 600p) not being unwound either. More behind KIST's sudden SP explosion imo. For sure there appears much going on behind closed doors .... could well find out within days, WHY !

aimo & dyor

"It makes me think the Kist rise is manufactured and we are being taken for fools..." ,

You would think so ! Unless our board have done the most self-serving, saving their own arse of a deal to acquire KIST.... Which, if i were a betting man, it's looking odd's on atm, or KIST have another interested in them, which would be great for our survival, for now !!!

https://www.agriexpo.online/prod/stoutagri/product-186183-144378.html

aimo & dyor

Jimmy,

Biggest danger atm I see is from us being taken private, given holdings declared with our Board and Senior Management holding 10.8% ( assuming Westward Investments included ). Hope I'm wrong, but is a real concern for me. Remember, it's the % of voting equity not issued equity that is used to determine a t/o.

Our SP needs to move on given today's RNS ... maybe not instantly, but for sure a gradual and progressive real build in our SP is urgently required ..... If not then options open up for easy t/o ( private or otherwise ) or worst still more dilution at stupidly low SP.

aimo & dyor

flexmw,

You are correct, we have been 'floating' around the 50% cash to MCap for some time now ... ridiculous situation to have so much cash on our book for so long without making it work, we have better cash reserve ratio than banks in terms of cash held !!! .... so they need to distribute it as clearly this is the primary reason for AA approach. I would hope this is the reason as to why we have not declared our CoH position, so as to flummox AA.

aimo & dyor