The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
IMO, what the RNS confirmed was the ineptitude of the BoD to properly expedite the necessary progress.
"...Cairn will COMMENCE the filing of the necessary documentation under rule 11UF(3) of the Indian Income Tax Rules 1962(Rules)..."
Given that the 'rules' were agreed some weeks ago, CNE should have the necessary documents filed already, which beggars the question, WTF have they been doing? Again, all IMHO.
Thanks BaysilHope - I like to think that us small investors helped to chivvy them up. I have to say that it didn't actually amount to very much information though, other than to say things are progressing (which is positive). In particular, I think 'early 2022' is somewhat vague.
Like many of you, I believe an update regarding the India settlement is long over-due by CNE.
I've emailed IR asking for information and suggest that if others did the same we might press them to respond. email link is available via their contacts page. https://www.cairnenergy.com/contacts/
I emailed David Nisbit and Doug Taylor this morning regarding progress of the India settlement. I'm not particularly hopeful of a reply, but would suggest that others do the same.
Regarding presence of BoD's at todays GM, I suggest that they would have been present. They just weren't available to press the flesh of the great un-washed pre or post meeting.
Seav
See under Investor Contacts. Email links.
https://www.cairnenergy.com/investors/investor-contacts/
...or a takeover of Cairn Energy after they get their Indian Government $1B pay out.
Taken from another board:
"...HBR H1 out Thurs 23rd, HBR Net assets post PMO merger say $1.2bn, debt $2.7bn, gearing 225%, which is WEAK & supresses the HBR SP, limits upside growth and immediate Funds available to expand. IF? - HBR acquired CNE for £3\share or $2bn ALL Share acquisition. New Balance Sheet NAV $3.2bn and Net debt down to $1.4bn - gearing 43%, that would increase HBR SP by +30%?? immediately- new rating and give an immediate +$3bn for growth or further acquisitions.- where all the majors are 'Offloading' - Right Time- Right Place IMO
The acquisition would get HBR into the FTSE 100 and gain say 40k boped for free. These opportunities are rare, especially at $74 PO and CNE would struggle to defend it, so if I were the HBR BOD, charge in, absolutely nothing to lose all to gain, sorts their Balance Sheet immediately, gearing, debt issue out and the Free float for the FTSE 100. HNY. I'm not ramping here, but when things get so cheap, look at Nex & Stagecoach, falls into your lap.
It would take HBR 3 -4 years to get down to 40% gearing through normal trading IMO DYOR. Watch this space, if HBR don't move on CNE other similars could get similar improvements, so FOMO from a weak target. From an Accounting - business perspective ticks so many boxes - the +ves far out way the -ves - it would be a huge miss..."