Member Info for NewKOTB

QC,

Good to see you're still posting and agree with your last post ....... think we will have lots to discuss in coming days.
Keep well.

aimo & dyor

btw, The last thing I would want is for SQZ to acquire KIST, much better value plays to go for imo. Just hope that any decision is in the best interests of SH and not our board.

What this has done is highlight the value on offer, particularly with SQZ ..... fingers crossed this will ignite serious interest in SQZ, which I'm afraid we will need going forward.

aimo & dyor

upomega,

Yes SQZ did reject it, first time around with a blistering return of serve ..... AA is trying again, this time KIST went public (hostile) with the offer. Keeping in mind the offer this time around is same as previously, should SQZ not come straight out with a rejection - 'FAULT' !!

"The proposed terms are the same as the terms outlined in a possible non-binding offer made by Kistos on 24 May 2022 that was rejected by the Serica Board on 1 June 2022..."

The ball was then smashed straight down the line with a counter offer by SQZ for KIST.

"Serica proactively considers its strategic options and confirms that on 1 July 2022 it made a non-binding cash and share offer for the entire issued and to be issued share capital of Kistos (the "Indicative Offer"). On 8 July 2022 the Indicative Offer was rejected by the Board of Kistos.."

KIST today went hostile, and that's where we are atm, one set all !!

All still to play for ....

AIMO & DYOR

sasa,

Morning, hope you are well, not what I expected to wake up to this morning, first check every morning for me is CHAR RNS !!!

Well, we are where we are, how will this be played now ?

Clearly AA knows this 'offer' is well below where it should be, that said AA will have a plan to conclude this and interesting that we suddenly had Blackrock and GS (also involved in RRE if I recall) come onboard with ~9% of votes in and around early discussions. No guessing which way they will vote. Critical that the Hardy's vote against this afaic. Interesting that the value of the offer also comes in at just over the BP's transfer of 5% for 365p a few months ago too, the new owner/s of which still unknown afaic

Not looking too good atm, ACW should issue a formal rejection today or get the deal to a more realistic valuation, you owe it to all shareholders.

aimo & dyor

"Serica is considering its position...." really !!!

Or to put it another way, how can we 'The Board' ensure our noses are kept in the troughs. LTIP from 2021 are secure now given today's RNS that in itself is worth £million£.... let alone all other LTIP / awards accrued over the years.

Today is the result of in-action by our board and letting the cash build and build with a risk profile on deal-making set to virtually nonexistent.

I'm sure SQZ would of had recent interest from PE or PE backed outfits, now is the time to re-open talks with these, otherwise, straight forward REJECTION of KISTOS offer today, no need to 'considering its position' .... unless you are going to get the deal substantially improved.

Time is now to earn your crust, think about what is best for shareholders, the owners of SQZ, good luck on behalf of all Shareholders.

AIMO & DYOR

Glad to see my observation of last Thursday, 'keep 'em peeled' was well founded.

Interesting few weeks ahead, AA will need to up his offer for sure. Probably offer greater equity in KIST to get the deal over the line. For me AA is an out 'n' out deal-maker, should the deal go through, KIST within 12 months will be sold on.

aimo & dyor

D220,

"I wonder what the Hardy's are thinking....?..."

Very much so !! The Hardy's are the kingpins here I'm afraid. Their percentage of the voting shares would either make or break the deal.

AA could, imo easily up the offer, Mr Hardy, as a businessman you know the real worth of your shares. Yes you have made your money back many, many times over but to sell yourself short and other holders, I'm talking your everyday PI, now is not the time to stop at the final hurdle.

Message to Mr & Mrs Hardy, please ..... VOTE NO !

aimo & dyor

Given today's opening and subsequent fall-back from morning high, it's looking as if Mr Market thinks the vote will go against AA, that said KIST has opened well up and hit another ATH ..... making an ATH of our own is where this initial offer should of been made, not 382p.

AA will probably offer more than 0.2932 new Kistos shares for every 1 SQZ to get the deal through, cash make-up of the offer will remain the same imo. Making the Kistos share offer up to ~0.4 would get the deal through imo. Much easier for AA to manipulate the equity than to source more cash.
ACW et al, this is where you should be focusing maximising the deal, better still give those PE backed outfits a call, what we really need is competition now.

aimo & dyor

D220,

"We are now firmly in the spotlight of predators...." Exactly.

As for AA's MO, exactly the same as previous deals, using the cash of target company to virtually self-fund the t/o, now you see what I was saying about too much cash on a companies books is not good. There is always 'headroom' in an offer, lets see how high the ceiling is before AA bangs his head.

Interesting few weeks ahead guys.

aimo & dyor

For me our Board should now open themselves up to other offers as I'm sure there will be PE backed outfits who would be / have been interested in SQZ .... I know the stepping down of ACW was all part of the planning over the last 3 months and AA will make SQZ assets work harder than ever before, but come on guys, I think you can do much better than 382p/s. I know you stated that ACW et al played 'hardball' or in my eyes 'softball' with AA but the offer should of been easily more than 382p/s

PS BB, You are welcome, it's all about DYOR, nothing more, atb

aimo & dyor

Just logged in .... well, well ,well ..... It was always going to be imo as I, sasa and others have previously discussed over many months and as recently as last week. AA is the man of the moment.... Interesting !!

Rookie, Fair do's ....

kign,

Thanks, as I mentioned earlier today's announcement could be looked back with hindsight as the most important find in the companies history. The Timpan cluster eventual valuation could well eclipse our current MCap by multiples.

How we finished a tiny 0.9p up on this news, I will never know.

aimo

Why, factually, 50/50 swings both ways ..... as you should know.

There is therefore, a 50/50 probability there will NOT be a significant slowdown or global recession ...

Finished UP ....0.9p

"funds adopting ESG standards and can't invest in oil companies...."

Nat Gas has now been re-classified as 'green' along with nuclear by EU.

Getting sick of this now ..... yanks on-line, oil goes down, so do we ... FFS.

There are I guess serious players shifting the oil market over the pond, been like this time after time over recent weeks. Oil mkt stable in the morning, then yanks wake-up and down oil goes .... It matters not that SQZ produce 80% nat gas production mix into a market that is at near ATH.

"nothing to see here..." what are you on.

This is a commercial find in all but name. Excellent result for sure, after all is this not what HBR are in the game for, this field once defined could hold serious amounts of gas, talking multi TcF's, worth $billions$

aimo

"For the discovery of the results of the Timpan-1 exploration well drilling, SKK Migas immediately coordinates with Premier Oil KKKS so that the findings can be immediately followed up in an effort to commercialize these findings so that they will have a positive impact on increasing national oil and gas production...."

So our local host have no doubt about this being a commercial find .... just our RNS has to err on the side of caution, hence the tepid response from the market, so far imo.