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Thanks.
Sorry I wasn't that clear on my question, I was wondering what the rough split is and if they tend to own or rent the space.
Hi guys, I'm taking a look here, does ciniworld tend to own its cinemas? so is a real estate play as well as retail/entertainment?Thanks
While I'm no expert on this type of negotiation, I read that as the shareholders are onboard, but the board arent?
Either way, this is clearly a hostile bid by RBS
"This announcement has not been made with the consent of Deltic."
Thank you! Looks like great value for RBD
What's the RNS guys?
I haven't got an alert and I can't see it on investigate
Marv, its past tense because GCM believe that the impact of CV19 has already encouraged the GoB to review their energy strategy. Rather than, they hope it will in the future.
The wording is so fluffy though, GCM 'believe' (well has it or hasn't it, it is a belief based on fact or hope?) that it has 'encouraged' (does that mean fast tracked or bumped it up the list or just a general discussion point?) to 'review' (they are constantly doing reviews, that’s why we've been here waiting for so long!)
There is nothing in here that gives us anything concrete to go on, or anything to suggest this is more than wishful thinking by GCM.
I'm still here and have been, and I sold half at open because there is nothing in this RNS that gives me facts except: JV isn’t done, GCM/Power China don’t have the green light and the MoU is extended for 6 months.
I would love to be wrong and I hope we get the JV RNS ASAP!
GL all
“…as previously announced, notes that interpretation of the data gathered from the West Newton A-2 operations is ongoing. The Company is aware of market speculation in relation to such interpretations, but it is too early for the JV partners to be able to confirm their accuracy or not. Work is ongoing and further updates will be made in due course.”
I read this and thought wow.
If we go back to my previous posts on the 3 possible motivations for the placing, we have 1) grow the business at the expense of SP 2) exceptional opportunity that’s too good to miss 3) they’ve made an error.
I think it’s now safe to say that we can rule out option 3. The chance of an error having been made and S&S have gone heavy into one asset without fulfil appreciating what they have done as extremely remote. IMO this RNS also effectively rules out water or a reservoir that is over pressured or otherwise unrecoverable. That would be very well known by now and the JVP would never have invested if there was a serious chance of nothing coming from it. The market would have been informed by now IMO.
This RNS isn’t a denial. It actually says that RBD is aware of the market speculation in relation to the interpretation of the data gathered from West Newton A-2! Maybe I’m reading too much into it, but doesn’t statement validate the base assumption of the data being valid? Doesn’t that statement mean that RBD think its plausible that the numbers presented yesterday could have come from the data set that they have shared with the JVP and probably other potential partners? If the numbers we totally unachievable surely they would have had to be more forthcoming in the response?
Anyway, we all pay our money and take our chances. I think this RNS is a great signpost to validating the numbers and as such I have topped up. It’s all just informed guesswork at this stage until we are privy to the analysis of the data.
GLA
The market has done what the market does – and that is be cautious in the face of uncertainty.
There are only 2 positive options and 1 negative option RE the raising. Only one of those 3 options are truly good for the shareholders.
1. S&S have abandoned their entire business model and have decided to build a company for the long term and their own person gain. Their gain will not come from share price appreciation but from other sources like salary and bonuses plus a good job at a major later down the line.
2. S&S have identified an opportunity that is too good to miss. That good enough to disrupt the business plan for. For the cost of some short term pain, the extra exposure that Reabold have just bought into will hopefully make everyone very wealth. If not, then would conclude that they wouldn’t have taken the punt and that they wouldn’t have been able to raise such a large amount. This is good for us and good for the share price in the medium term.
3. S&S have made an error. They have inadvertently focused the company primarily on one asset without fully appreciating that that creates a lack of flexibility and is a departure from the business plan. This is the negative outcome for everyone.
Currently the market is being cautious, and not fearful, by only dropping to the raising price. This happens often. The next movement will come when there is clarity about what option Reabold have actually taken. If you think they have taken options 1 or 3 then this would be a very poor investment and it’s probably time to move on. If you think its option 2, then hold on and wait to see if you were right!
GLA
Wow. This RNS is amazing.
Extremely detailed and at first glance seems to take the text out of the presentation that was leaked by BMD.
It looks like there is NO finalised CPR at the moment otherwise it would have come out in the leek and subsequent RNS.
Joining the dots it looks like S&S are exceptionally confident and the raw data must be exceptional in order to even attempt to raise such a huge amount without finalised 3rd party validation.
It’s a good question. The answer is that a CPR will be a double edged sword for RBD looking to increase their holding. Rathlin holders are not likely to let their stock go for less than its worth. At the moment you have 1 successful well, with no CPR. The minute you have the CPR, or additional wells further proving up the resource, the value of the shares will go up. Sure it will make funding easier to secure, but the buy price will also be considerably higher.
That’s why RBS was able to buy 37% for Rathlin for £3m pre drill, now it looks like they will be spending circa £20m for 20% (reasonable guess figures). Post CPR that £20m might only get you 10% or less.
Just a minor point, but it will be an indicator of the lowest price they were able to purchase an additional holding at, rather than what they value it at.
I suspect it's going to be a significant premium over the August rate of £0.8427 per share, which should also have the effect of increasing the book value of the holding we already have.
The last investment in Rathlin was for £1m in August and the initial investment in January of £3m for 37% is looking like exceptionally good value right now.
I can’t find what the share price was for the initial investment, does anyone know?
not fairing as well over there today
Same here, added about 8% to my holding.
I don't really visit these boards much anymore but still hold my RBD and had a top up yesterday as well.
The plan for returning value to shareholders is one of the best parts of this investment. It might not be part of the plan but even a special dividend like POLO paid would be a great method of returning value.
GLA, long and strong here
Incase it's been forgotten, the agreement to pay the success fee ends at the end of June, that's all. Just a thought but we might find ourselves in a situation where we get an rns today or the next few days that extends the time period to enable the payment of the success fee.