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Thanks for the link, managed to locate it at source (www.londonstockexchange.com) not sure why I didn't do that to begin with doh. Probably time for me to clear internet files and Cache!
Found the RNS on the Stock Exchange site. 25mil hit from the cyber attack but expecting insurance to cover a material amount of that impact but will be some as yet unspecified costs (assuming step up in cyber security and additional resource associated with dealing with the shut down and phased re launch of services.
No way to yet assess the impact of COVID-19 but likely to have a impact as it is doing everywhere!
So not much to report.
"clean audit report" and "PwC", technically they were not in the same sentence but still.....
Can anyone see the RNS, site is showing a new one but only those from the 19th are displaying!
15LIVES - Agreed, I suspect they would also want to delay a bid if there are further parties to limit the time any bidding war will have to play out. As you stated earlier AAL are probably not happy their Bid was "leaked" when it was.
Yes I have seen maverick the underdog always wins or something.
"the Board of Sirius has indicated to Anglo American that it expects to be able to recommend a firm offer for Sirius if made by Anglo American at the price set out in the Proposal."
What this tells me in simple terms is the BOD did not want to dismiss the offer at this stage, whilst the review is ongoing. If it turns out that a 5.5p bid was the only option the BOD would have failed by dismissing it, by string AAL along with a very loose statement that they maybe, possibly, could, might recommend the offer keeps them at the table.
This achieves a few things,
Firstly it keeps a viable alternative (IMO worst case scenario) on the table for them to fall back on if all else fails.
Secondly it ensure they have upheld their obligations to the SH if it does turn out that way.
Thirdly it publicises the fact they are considering offers which could draw other potential bids out, speed up bids from other parties conducting due diligence and adds urgency to any other parties interested in a strategic partnership or providing funding for decent returns, royalties and equity etc.
It is also well worded in that it also states that whilst AAL have put caveats in to potentially lower the offer, the BOD will only recommend the offer if it is 5.5p as set out in the proposal, limiting any downplay by AAL.
WOW so much certainty on this board with zero evidence mostly stated as fact not opinion.
What we know so far.
1) SM BOD are conducting a strategic review and will provide an update at some point. Nothing to say this has stopped and would be massively incompetent if it was just because someone state they may or may not make an offer.
2) AAL are considering an offer at 5.5p or less. See RNS nothing guaranteed at the moment.
Things I am picking up on that are not true but rhetoric here would have you believe otherwise.
1) AAL is the only viable offer - Could be numerous interest parties, could just be AAL. They may not even follow through with the offer.
2) We are in administration with out accepting the offer. - The strategic review is still ongoing nothing to suggest other alternatives are no longer viable. AAL are making noises to table a firm offer but there were other parties in discussion over a strategic partnership, we don't know who they are, if AAL was one of them. As there is no announcement we can only assume DD is still occuring with these possible suitors.
There are other routes out of the hole that may or may not come to light until we see the outcome of the strategic review.
No company or BOD would ever view a potential offer as a certainty and so in this scenario we can fully expect that everything in the strategic review is still occuring as it was.
The only difference today compared with last week is the SP is now a little higher as is always the case when someone makes noises to buy a company at a higher price than they current Market Cap.
As is always the case and is still the case here: "remember that investments can go up and down in value"
yep not sure what all the fuss is about. OK it is expensive but we cannot survive on 100 year old rail lines forever we need to get into the 21st century and leave the 19th century behind. 100bil in nothing compared to the bank bail outs!
By extension 3 bill is peanuts if it creates 1000's of jobs for 100 years and adds a fair amount to GDP with many other side benefit to boot. However, conservatives/Boris have mentioned Northern Powerhouse a few times so promise has been delivered and nothing further is required (based on historic observations).
QE is a Joke. Banks do not lend more they use the cash to balance books. Rich folk keep $$$ in bonds as it is safe-ish regardless of interest rate reducing a tad especially when the riskier assets are riskier still due to the QE cash artificially inflating the price of everything.
How about printing 1 Trillion of bank notes and delivering 15,000 to every person in the UK, that would kick start the economy as most people will spend there new found wealth!
Christmas is due early this year for SXX SH's. Will be sometime between now and end of March.
"As if proof was needed look at the post below mine.;-)"?
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unfortunately all the bashing in the world cannot breach this defence :-)
"I can't believe it, there's still 8 weeks until Pancake Day and already the shops are selling flour and eggs!!!"
Sweet Jesus, over commercialisation I am sure the whole point was to use left over flour and eggs!
Yep a major player bought 10m shares to get the market to 3.6 and then managed to offload 3mil! But did make a small profit of £3000 on those few they managed to dump!
Obviously, the main criticism he has come under from the BBs is the leaky ship he runs to his city mates. So clearly he is making sure the leak is hitting all market participants fairly!
Good Morning and Merry xmas IBAB. I am sure IBAB will be along shortly to continue this conversation after switching accounts.
There are approximately 123 million reasons why CF will not let this fail and will put the maximum possible effort in to ensure good SH return :-)
what is fake news and basherbuck got in common?
Nothing fake news is honest it has Fake in the description. A fact Basherbuckbadbet does not want to admit about his posts.
"Trading this would be like trading space seats on a rocket.....
I would definitely want to be in one when the RNS hits."
fixed that for you IBAB.
"I prefer....
“My Mama always said you've got to put the past behind you before you can move on.” – Forrest."
We may have a break through!! Take this to heart and stop with the re-repeating of old news! :-)
Could you not see the jest in those posts (direct responses to the equally ridiculous bashing we get from yourself and others of a similar disposition. Ah well as forest says Stupid is as stupid does!