RE: Mick202010 Feb 2017 17:54
The date you quote for Q4 + year-end results, Mick2020, is that a firm date? Last year the results came out on 19/02/16.
I've been watching Boursorama while the M&P bid is proceeding. Not much doubt it goes through, with probably 90% acceptances (my guess, dyor) of Ordinary Shares. The second Phase of the bid is now closed, and the result will be announced on Wednesday (15/02 ). Then those second phase Acceptances are settled a week later.
Change of control is surely triggered, and 95% control seems beside the point. Pertamina control M&P's assets and if that triggers a Right Of Refusal, I think Wentworth have a case, if they want it, and can afford to take advantage.
Not sure they can, without help from a backer. And that is a risk in Tanzania, for Wentworth as well as a backer. Vitol has been suggested ( I'm not sure). There is also a hope that Pertamina will be a better partner than M&P anyway..
I can't see them coming to market with results that say nothing about the O/S loan, refinancing of it, or the Mnazi Bay situation. So I'm hopeful they are actually beavering away at a way forward.