Hand sanitizer and surface cleaner company Byotrol had a strong 2020 and are confident about 2021 Watch Now
I don't have a twitter account myself, but I did I'd be tempted to ask him what he would expect BOO to do in addition to what they've said there going to. I'd also ask if he plans to investigate the fashion sector as the issues must be more widespread - or does his extremely heavy negative bias towards boo not allow that
Freetrade users, in their execution policy it states that they can group trades together,so the price quoted may not be what you end up paying - is there anyway you can force an immediate trade with certainty it will be completed immediately?
Thanks for your replies, I found them useful
I'm still mulling it over but I'm eaning towards freetrade at the moment as it can be setup quite quickly.
It's a shame they don't list some of the other aim stocks I hold but it would meet my immediate needs - and when we get the results we're expecting from EUA then I'll likely end up opening a sipp anyway.
Looking forward to seeing what this week holds!
I'm thinking of buying more eua but this time want to hold them in an isa..are there are any providers that are held in high regard or that should be avoided?
I Intend to do my own research but welcome your feedback
seems like a smear campaign to bring Boo down with the end result of trying to encourage more people to buy clothes from the high street. I don't think they grasp that it won't work as Boo's main market are more than happy to shop online
I thought this line in the article was interesting "parts of the supply chain workers may be paid as little as £3-£4 an hour." I assume that the guardian will be targeting companies where this is indeed the case and well known - e.g. apple, samsung etc..I'm pretty sure the children they have digging the raw materials out of the ground for components aren't being paid £3-£4/hr!
I just wanted to mention that I accidentally left my name on the email I posted.
I planned to remove it before posting but I got distracted ensuring I copied all of the email content (as it was over more than one post) and forgot
It has always been the case that some dilution will be required to progress the project and the focus of management is to ensure that this effect is minimised so as to ensure the Company shareholders retain the maximum level of interest in the project possible. It is in support of this ongoing effort and focus that the Board is requesting the extension and refreshing of share issuance capacities at the coming AGM which were originally granted by the shareholders at the last AGM in September 2019.
Finally, we would like to emphasize that (as detailed in our announcement of the proposed Merger on 11 June 2020 and our AGM notice of 30 June 2020, links to both of which are included above) the Company remains committed to and focused on the execution of Perseverance #1 in 4Q2020 / 1Q2021 as its absolute priority.
As regards your question on the funding of additional investment in the assets of Columbus, as detailed in our announcement of 11 June 2020, the timing and pace of any exploration, appraisal and development activities across the Columbus portfolio are largely discretionary; meaning that BPC can decide when, how and to what extent it deploys capital. This may be coincident with increased oil prices (and hence increased production revenue) which will benefit the Columbus portfolio further. Furthermore, the Company believes revenue from existing Trinidad operations can be further enhanced by applying technical expertise and experience to increase production rates as well as rapidly progressing exploration targets to production / income generation in the near/medium term.
The key point here is that an investment program in these Columbus assets is not expected to materially increase the funding burden on the Company, or compromise the funding of Perseverance #1, due to the flexibility of timing and range of available options. Indeed, it is expected that the merger with Columbus may in fact enhance the overall funding capacity of the Company, through the creation of a portfolio company with a diversified asset and risk base, which may prove to be more attractive to a broader group of long-term institutional investors.
Finally, I would like to draw your attention to the fact that we have recently updated our website to include a Shareholder FAQ page, and a narrated presentation which seeks to answer many of these questions. We encourage you to review these. If you believe there are any gaps, or would like to submit any further questions for addition to the page, please do get in touch.
For reference, the FAQ page found here: https://www.bpcplc.com/investors/proposed-merger/proposed-merger-faqs/. The narrated presentation can be found here: https://www.bpcplc.com/media-centre/presentations/documents/
Bahamas Petroleum Company plc
Dear Mr Robbie,
Thank you for your email and for your continued support of Bahamas Petroleum.
As we are currently subject to Takeover Panel rules, we are heavily restricted in what we communicate to shareholders outside of the Rule 2.7 press release, issued on 11 June 2020. This can be found here https://polaris.brighterir.com/public/bahamas_petroleum_company/news/rns/story/xq1qdnw/. The materials for the Company’s AGM, issued on 30 June 2020, can be found here https://www.bpcplc.com/wp-content/uploads/2020/06/Notice-of-AGM-25-6-20-Final.pdf. I would encourage you to read these documents carefully and in full.
However, in response to your question, we can draw your attention to the following points that are made in more detail in these documents:
As regards the funding of Perseverance #1, the Company has, since 2019, been implementing a broad finance strategy to ensure that the funds for the well are available as and when they are required. This has included an open offer and institutional placing undertaken in November 2019 which raised $11.4m in aggregate, entering into a conditional convertible loan facility with a consortium of Australian investors for up to £10.25m, and entering into an unconditional convertible loan facility with a Bahamian family office investor for up to £16m (of which £4.7m has been drawn to date). In addition to these specific financing arrangements, the Company retains the ability to undertake an institutional investor placing with its corporate brokers and continues to hold discussions with potential industry partners in relation to a potential farmout. A more detailed review of the Company’s funding strategy can be found in our market announcement of 26 May 2020 in which we disclose the execution of our binding rig provision contract with Stena and the consequent reduction in our well cost estimates and the overall impact of these events on our funding plans – refer to this link for details: https://polaris.brighterir.com/public/bahamas_petroleum_company/news/rns/story/rdzqj8w.
Importantly, access to these finance options provides for the funding necessary to execute the well at the end of 2020 / start of 2021, and provides a “benchmark” against which future funding opportunities will be assessed in terms of cost and dilution. To the extent that funding options considered more advantageous become available to the Company, these can be pursued as an alternative to or in parallel with the above, so as to ensure the well is funded on the best terms (least cost/dilution) possible.
Implicit in the above, and as stated in all of the Company public announcements to-date regarding funding options and farmout discussions, is the fact that the financing of the well will result in some level of dilution, at either the asset level (industry partnership/farmout) or corporate level (facility/equity finance).
Apologies if this post appears twice, it didn't appear to submit first time round..I sent the email below to BPC last week and have had a reply which I will post in a follow up post. I voted yes to all resolutions yesterday (I figured if I trusted the BOD when we only had P1 then why should I not trust them now).
Hi I received the communications containing the resolutions for your AGM today. As a BPC shareholder, I (and other shareholders) have concerns re funding if the merger was to go ahead.
Unfortunately if those concerns aren't addressed it is extremely likely that you will find shareholders (of both companies) will vote no to the merger or simply sell before the AGM - I'm actually close to doing this myself.
Our concerns are around the funding of CERPS assets/interests after the takeover. Will they be funded via share dilution, borrowing or by another means that you are unable to disclose at this stage?
Thought must've been given to this so if you could at least provide clarification whether or not further dilution will be required then this would go a long way to allowing shareholders of both companies to perform their due diligence and make an informed decision, rather than just taking a leap of faith.
Reply in next post
Thanks for posting the youtube link Gadbury, it was useful and has put my mind at rest.
My main concern was about how the CERP operations would be paid for, so it was interesting to hear that they're funded by the oil they produce.
It also makes sense to put the assets of both companies together to make BPC more attractive to farm in partners - IMO I wouldn't be surprised if there are already interested parties who were reluctant to farm in based on P1 alone, and this merger will give them the confidence to commit knowing our eggs aren't all on one basket