Member Info for shakeypremis

Again, I am not saying this IS happening but if it were these shenanigans wouldn't make much sense if you were going to offer decent money for the company.

If a prospective suitor didn't mind paying a decent price for the company, they wouldn't go to the trouble - with collusion from the board, engaging in what must be illegal activity - of getting SDX de-listed from the TSX so they could acquire a 30%+ stake (possibly 60%+ if there is another party involved) and make taking over the company easier by way of a low-ball offer. They'd just offer the money straight away, especially at this bargain basement price. I suppose it's possible they plan to acquire as many more shares as they can at as low a price as possible on the market and then perhaps offer something half-decent for the remaining 40% (most likely less) of the shares.

Jag11, an SDX specific rule or an AIM rule?

To be honest it wouldn't make much sense for such a rule to be AIM wide as if you wanted to takeover a company that was massively overvalued last year you wouldn't be able to because you'd be getting screwed price wise.

We'll just have to wait for the TSX de-listing and then see what happens. If we huge buying then we know what's going on. How they'll get all those shares without some massive manipulation I don't know. If a conspiracy is afoot, they won't have gone to these lengths to pay a good price.

30.1% is not that high to be honest. The insiders percentage must include the MEA holding because MEA is owned or run by Michael Raynes who is on the SDX board.

http://www.sdxenergy.com/about-us/leadership/board-of-directors/michael-raynes.aspx

I wonder why this wasn't done earlier though? Perhaps they couldn't get agreement from PW et al until recently? Or we are just mad conspiracy theorists.

Actually ignalls are just an asset management firm so likely one of their clients has a large holding in SDX and could easily be working with mea. This does wiff quite a bit.

If this is actually happening we know the board and PW are in on it and given the recent name change we can be almost certain MEA are the suitors. We just have to hope Ingalls aren't also in on it a then we might get a price that at least doesn't mug us off completely, say 80p or something. To be honest I think this scenario is more likely.

Thinking about it PW and the rest of the board would have to vote 'against' the takeover to avoid coming under suspicion of being involved in a conspiracy. Of course we'll all know that was their plan but it would just look better should a complaint be lodged (not that regulators would do anything anyway). Let's hope we are wrong or at the very least we all get offered £1.

They won't need to offer £1 if the consortium between them own 62.5% of the stock. I'm sure they'll be able to get 13% more for a cheap offer price. I think you'd actually be able to acquire more than 30% as long as you quickly put in an offer afterwards, so that 62.5% might even get all the way up to 70% or something.

And more money for them when those new free shares get bought out.

NewKOTB, can you expand on that last part please mate? Regarding the LTIP.

I bet 62.4% plus another ~13% of bored holders would take a low ball offer at this point. If this is what is going on, it can't be stopped.

Could also be preparation for a placement for a large acquisition (to be funded by MEA etc).

60% plus the board's 2.4% and no doubt other connected shareholders we aren't aware of would be in a good position to get a low-ball takeover offer pushed through. What percentage vote would be required to push through something like this?

It might be worth investigating potential links between MEA (now SDX SPV Limited) and Ignalls, and anyone on the board of SDX.

I suspect this move away from TSX is about more than just saving money (exactly how much money would this save anyway? - I will try to work this out later). On the TSX a shareholder holding 20% or more shares in a company is obliged to issue a takeover offer if I am not mistaken. On the AIM, this limit is 30%. This would allow the newly re-named MEA Energy (now called SDX SPV Limited) who currently hold ~19.5% of the shares and possibly also Ingalls and Snyder who hold ~18.5% to buy another 22% of the company between them, taking the total of their two holdings to 60% of the company.

I do hope we are not about to be mugged off and taken private, or perhaps sold off on the cheap to another interested party with MEA Energy etc happy to take say 80p or something. If this is happening, PW etc must be in on it and set to be rewarded handsomely.

I also want to know what they're doing with LMS-1 too. That was expected to also produce condensate but didn't flow well during testing. They said they were confident they could get it flowing but I don't think we've heard anything about it since the test result RNS in May 2018.

Hopefully it'll drum up a bit of interest but it didn't last time. Maybe if SDX have something new to discuss?

I too think given previous years that it'll go to a new all time high in the high 70's and then collapse again. Maybe down to the high 40's this time though. Woo. Hopefully it'll decide to blast past 100p this year though and prove me wrong!

You can't buy shares without there first being a seller. To buy 250,000 shares someone/some people have to put 250,000 shares up for sale between them. Buys and sells don't come out of/into the ether.