RE: Out of curiosity29 Nov 2022 12:48
EUA didn’t even have flanks before suspension. No JV, NYUD, since then more interest - and that was 7.2p
70% gain Just to get to suspension price and you know that during FSP, the prices thrown around will likely have been 4-10x + of that
This has been battered by markets and mm’s playing hardball with the spread and UT’s etc make it hard for even traders. So you have lth who top up but the fundamentals haven’t changed - actually improved
The elephant in the room here is the war, which should eventually end. Either way we are not affected by sanctions and BRICS interested parties could land an offer at any moment. Although it’s likely to happen at a higher sp and after some RNS updates (or not, and offer RNS lands with immediate re rate)
People seem to have forgotten that even 7.2p is a joke of an SP, and currentlyEUA is sat at a major discount to that. A lot of buyers saw potential 20-30p and that’s clear by the share price action for almost two years. Rarely dipping below even 20p
I bet many would’ve killled to buy in the 4p’s before FSP. And after the Sale RNS lands (judging by CS and others at eua , probably not long) there will likely be many who wished the same again now
In situ value remains the same, in the many Billions. If there was no war the price before sale on average was 7-8x from todays price - multiply that by two or three and you get a ‘fair’ value in a sale.
Agree with Sandy, the amount traded is a minuscule portion of shares in issue. I alone have more shares than are traded daily and I’d wager there are many more with multiples of that. Then you have skin in the game with the Board, who need an exit price.
Even 4x from here, a buyer from BRICS would be licking their lips at acquiring eua’s total assets for a measly £500m or less. I am expecting the mother of all RNS’s in the coming month max two - hence trying to load up wherever and whenever possible