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So either the MMs were very busy passing the same shares back and forth or we should expect some ownership RNS next week
If insolvency is forced on them then what does this tell other investors about investing in this part of the world.
Hopefully that's the bottom
When most of your competition is struggling, and subsequently willing to cut margins just to stay in business, it's hard to make money. I suspect a lot of pubs will close over the next 2 years and wp will come out of this with a bigger market share, at which point prices and profits will rise because at the end of this is not a charity. In the meantime the price is probably not going to go anywhere fast.
Selling a majority stake in the oil and gas side makes no sense as far as Lamprell shareholders are concerned. Imo it would involve splitting the company into two separate legal entities. Consequently all synergies would be lost. Sounds to me like someone is trying to get part of the company on the cheap. If Lamprell are clutching around for cash then far better they announce an open offer in which all shareholders can participate. Any outside investor could then buy shares on the he open market or privately from those wishing to sell in order to take up the open offer without investing more, either that or the open offer would include an outsider to buy in at a higher price to the open offer to reflect the fact they were not existing shareholders. Eh an open offer price £0.25 and outsider buy in price of £0.50
Claiming them might be a problem for non Russians though
Just had a look at the company website home page. If you go there expecting brand promotion or statements regarding plans in place to improve profitability, forget it, they seem far more interested in wok symbolism. IMO this company is badly in need if a hostile takeover since the current BoD appear to be greatly distracted from their legal obligation to improve shareholder value.
Anyone have any idea why this blue chip share has done so badly on a 5 year basis. Its quite clear the majority of the board don't know what they are doing and need replacing.
Expensive mistake, both financially and politically, given what happened since Friday. Someone won't be getting their bonus.
going going going gone more likely. Looking at the accounts they may sell product around the world, but the vast majority of the assets are in Russia or Kazakhstan, and given how the Russian's recently sent in troops there to quell some local unrest I can't see Kazakhstan not assisting them with any perpetual freeze orders. For those who sold last week at a loss my sympathies, for those that are still holding, don't say you weren't warned, for those still buying into the dip, try turning on the news.
I post on Sunday that this would be a penny stock by the end of the week and was replied to by some learned investor that he had never heard so much cr*p in in his life. Well we are at 103.85 as I write this so it can be long now before we break the pound level and this does indeed become a penny stock.
No idea, but it will b a penny stock by the end of the week, if not the end of tomorrow. If BP are willing to walk away from their assets and not take any dividend it is because they know they are now effectively the property of the Russian state.
Game over
The rules of the game are changing quickly with regard to Russian investments. Why would the country allow profits to be exported in any direction from which no new investment is going to be coming in and from which no trade can be conducted. Nationalise the western ownership stakes and sell the produce to India and China seems to be the sound coming out of Moscow. There may not be a physical wall coming down across the Europe, but there certainly is a financial, trade and diplomatic one between Russia, the EU and the USA.
Swift agreement nearly unanimous. If they do cut Russia off then you can bet asset seizures will follow. Frankly I'm amazed there was a bounce on Friday, but then again it would have undoubtedly helped create a buying spree for those wanting to sell. Monday however may see reality sink in.
https://www.rferl.org/a/medvedev-end-diplomacy-russia/31725038.html
Just a thought, but what happens when tit for tat sanctions asset seizures start to occur
Time and time again company heads forget about improving profitability and developing new in house brands in reach for the roulette table of mergers and takeovers. Improving profitability through increased efficiency may be boring, but it's what brings home the bacon. Imo this proposed purchase is nothing more than a gamble being used to hide their poor management to date which has seen the company struggle against its peers. The sooner we get rid of this bunch of self promoting empty suits and replace them with proper management the better.
https://news.sky.com/story/sports-direct-tycoon-ashley-reignites-row-over-debenhams-collapse-12371048
especially given the effect on the pension fund
Though very different, in some respects this is starting to remind me a lot of how the board of Debenhams behaved towards the shareholders. UK corporate law is sadly lacking when it comes to protecting shareholders in such cases.