Member Info for NewKOTB

Https://www.gov.uk/government/publications/july-statement-2024-changes-to-the-energy-oil-and-gas-profits-levy/changes-to-the-energy-oil-and-gas-profits-levy

Well that's investment killed off for good post 1 November 2024 and by association, UK O&G too ...

Un'fing'believable

"The government will also remove unjustifiably generous investment allowances from the Energy Profits Levy, including by abolishing the levy’s main 29% investment allowance for qualifying expenditure incurred on or after 1 November 2024. Expenditure incurred prior to making the changes on 1 November 2024 will not be affected...."

One of my platforms just emailed me about CHAR's Open offer deadline being pulled forward :

"Our internal deadline for the Chariot Ltd's Open Offer has been changed to 12:00 UK time on 05/08/24"

"I want to congratulate Andrew ‘Benners’ Benbow who recently left as Head of Investor Relations at Genel Energy. Without drawing breath he has told me that next week he starts in his new role as Head of IR at Serica Energy.."

If this is correct from Malcy and we hear on Monday this is so, for me this will signal a significant change of direction.

We currently have an external PR (Vigo Consulting) but afaik no dedicated in house IR, could be wrong though as I've always emailed directly in the past. The Chairman is responsible for shareholder liaison together with Stephen Lambert (VP Legal & External Relations), note, not IR.

IR usually play a significant roll in IPO's amongst other things, so what would Andrews primary object be I wonder ! Couple that with, as I understand, primary market listings in US require a dedicated internal IR, guess UK would too. Adding Andrews experience to an already serious heavyweight board and mgt team, you have to ask yourself, is this the 'norm' for an AIM listed company.

Board Member & Year appointed

Chairman

David Latin 2023

Executive Directors

Chris Cox 2024

Martin Copeland 2024

Independent Non-Executive Directors

Kate Coppinger 2020

Jérôme Schmitt 2022

Michiel Soeting 2023

Sian Lloyd Rees 2023

Kaat Van Hecke 2023

Non-Executive Directors

Rob Lawson 2023

Guillaume Vermersch 2023

PS. See old Kiosk Kate is now the longest serving member(2020), with majority of whom were appointed last year. Serica is a totally transformed beast in terms of structure since the TW deal, why ?

aimo & dyor

JO,

Fair enough, however we have RR making an announcement on Monday, likely to lay the ground for increased taxes, no need to guess who will be taking the brunt, once more !

aimo & dyor

Interesting writing style you have there JO, esp reference to TW and use of dates !

Given it's a sleeper account recently activated, I guess you are either a pro US trader working for a trading house (BlackRock et al) or a BoT, either way do I hope our SP reverses this prolonged negative trajectory. Noticed also our resident 'A' trades BoT is lighter on the sell side recently too.... hummm !!

aimo & dyor

After hours trade @ 151.2p :

Date Time Trade Prc Volume Buy/Sell Bid Ask Value

25-Jul-24 18:45:47 151.20 125,533 Unknown* 138.65 138.75 189.81k

Probably get reversed tomorrow though !

aimo & dyor

G,

What Mercuira's Trojan Horse does or doesn't do in M&A will need to benefit Mercuria, an "all-share offer" will not, so if a deal is to be done, with anyone, it will be via cash and RBL facility, never in a million years will SQZ use shares ( unless from treasury of course)

Harvest time soon, ready for jam tomorrow !

aimo & dyor

Should of added, at least he's got the hang of how solar works, I think !! :

"Mr Miliband claimed investments in .... renewables such as solar energy will eventually lead to lower bills, but "it’s not going to happen overnight"..."

lol

Just about everything about this mans thought process is wrong, esp when he spouts "Eventually, GB Energy may take a controlling interest in some renewables generation projects." ..... In other words, nationalise (lol) and you expect private companies to stump up £60bn of investment for that pleasure... different planet. I could go on about this guy and this article but how can you take a CLOWN seriously !! Wake up Kier and smell the coffee, coffee by the way that uses serious amounts of hydrocarbons to produce & transport to your breakfast table.

https://www.bbc.co.uk/news/articles/crglp32zzw2o

aimo & dyor

"That is against free cash flow of £195m last year and likely at least same again in next three years or so..."

Yep, almost ripe for picking, harvest time ~ Sept - Nov 2024.

aimo & dyor

“ Not sure if I’m convinced that the Loukos on-shore discovery will be commercial. …”

All part of the plan… MBO coming to an investment near you!

Aimo & dyor

"For the awards to vest in full, the 90 day end average share price must be at least equal to 400p.."

LOL, I posted the other week about the 500p LTIP issued last year for Mitch and stated at the time, if nothing has changed then why not the new CEO too .... coincidence, hummm !!! Pity it wasn't at 500p though.

"That said, may be new LTIP for same performance target for our new CEO / CFO could be issued, so long as SQZ have a real plan to move the company forward once again, after all nothing has changed so the original LTIP's must still be achievable, would they not !!.."

aimo & dyor

Sasa,

Any idea if "automatic" dividend re-investment counts as insider trading if within 30 day window being, 'automatic' may not !

aimo & dyor

"BTW new all time low today ..."

Actually its a 37 month low, although that does feel like an ATL. ;-(

aimo & dyor

London, 24, July 2024 - Serica Energy plc (AIM: SQZ), confirms that Davd Latin, Chairman, purchased 21,350 ordinary shares at an aggregate price of GBP£1.30752 per share in the Company.

Following this transaction, which is detailed in the PDMR Notification Dealing Form below, Mr Latin is interested in 218,567 ordinary shares in the capital of the Company, representing 0.05582%

Https://www.investormeetcompany.com/meetings/investor-presentation-695

https://www.investormeetcompany.com/meeting/investor-presentation-695/presentation.pdf

G,

"Honestly flabbergasted by the sp action here..."

Many of us past that point long, long ago. Don't think you really need to look much further than Mercuria for many an answer. Dadean asked, "Maybe in fact we'll be next to be taken out." only if Mercuria want it to be so (with their, in effect, blocking vote) and my guess Mercuria will be the frontrunner in a one horse race if that's the case.

aimo & dyor

Afaik, you can not use debt to finance a share BB. Buyback needs to funded out of distributable profits or by issuing more shares with receivables used directly for BB, although this defeats the prime objective. Unless of course you expect your SP to fall dramatically between issue and BB. Maybe SQZ should of issued more shares when we were at ~450p (lol).

AIMO & DYOR

Bubble,

Thanks for that, much appreciated as the auto email notification about the meeting has yet to arrive in my InBox, strange as Investor Meet are usually on the ball.

I've just registered to attend ( 11am UK on 24 July 2024.), unfortunately it states :

"The ability to pre-submit questions has now closed. You may have the opportunity to submit questions whilst attending the live presentation..." Does make the Q&A a lot easier for Adonis & Co I guess !!

aimo & dyor