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- The (ANGS) Placing Shares, assuming full take-up of the Placing, will represent approximately 13.8 per cent. of the Enlarged Issued Share Capital'
I expect a revised offer.....if they still want it.
A reminder of what this is all about.
https://www.energy-pedia.com/news/united-kingdom/angus-energy-announces-revised-saltfleetby-cpr-and-an-update-on-the-brockham-licence-184632
Surely, in view of the need for cash by ANGS they would be better off pulling the plug on this deal and go for a share issue....problem solved.
What ever the outcome of the proposed sale of ANGS...the 'at least six' bidders will have to exceed the very generous SOU offer..
'.. Angus has no cash and if it hasn’t got £4.4mm or so by end-June at the latest (they haven’t told us the precise timings of these payments) its assets may be taken over by its Lenders'
I'd say the 'ball' is in SOU's court.....the longer the deal remains unresolved reduces ANGS 'leverage'....there's no rush. The current deal is with ANGS....Should this lapse..SOU may get a better deal with the 'lenders'.
Synergy is the concept that the combined value and performance of two companies will be greater than the sum of the separate individual parts. Synergy is a term that is most commonly used in the context of mergers and acquisitions (M&A). Synergy, or the potential financial benefit achieved through the combining of companies, is often a driving force behind a merger.
Although the share deal offered may seem a bit high , however, one has to ask if cost saving can be attained through releasing six ANGS directors.?
The annoying point here is that Sound is only one of six companies to be named as a contender for ANGS.....as a consequence has had a detrimental effect on the company's SP......the other un-named five have not been subjected to these market forces and are 'getting away with it', leaving their respective SP's intact.
We are the only one named...who are the others..?
'Turning Hostile'....could be just 'hot air'.
Angus Energy PLC (ANGS)
1.15p
-0.05 (-4.17%)
19 Jan 2022, 09:54
'I hope the proposals fall through.'.
https://www.lse.co.uk/news/SOU/angus-energy-refuses-to-budge-despite-sound-energy-circling-915vwwwk23vbsba.html
It's turned 'hostile'...with five others in contention....What does Graham see in this that we don't?
I like the website.. Shows signs of promise.
Has the Marine Licence a time limit attatched?
Condition Precedent.
DEFINITION of 'Condition Precedent'. A condition precedent is a legal term describing a condition or event that MUST come to pass before a specific contract is considered in effect or any obligations are expected of either party.
Once Graham issues and confirms the 'Notice to Proceed' contract with 'Italfluid'....this will begin to move.
'Conditions precedent to the Loan include a project contract with Italfluid Geoenergy S.r.l (Italfluid) for the provision of a gas processing and liquefaction facility relating to the Phase 1 development being effective and evidence being provided to the Lender of the issue by the Tendrara joint venture partners of "Notice to Proceed" to Italfluid'
https://www.thetakeoverpanel.org.uk/the-code/download-code
'With this loan: Today Afriquia Gas on paper owns at least a third of the company, knowing Afriquia G, Sou take over could be an option to complete the project. '..........It's possible...and could be a legal obligation.?
https://www.montelnews.com/news/1286773/algeria-offers-more-gas-to-europe-amid-supply-crunch
This is beyond belief..
https://www.msn.com/en-gb/news/world/uk-gas-prices-rise-data-exposes-staggering-1000percent-hike-as-russia-tightens-grip/ar-AAS5orV?li=AAnZ9Ug
29-Mar-17 29-Mar-17 Buy Marco Fumagalli 74.81 GBX 300,000 74,411,907
06-Jul-17 06-Jul-17 Buy James Parsons 47.02 GBX 53,158 1,721,187
29-Mar-17 29-Mar-17 Buy Marco Fumagalli 74.81 GBX 300,000 74,411,907
29-Mar-17 29-Mar-17 Buy James Parsons 73.97 GBX 27,033 1,668,029
'We can't blame the $hite that Graham inherited'...at least they put their money where here mouth was
https://www.rt.com/business/543888-gas-price-europe-record-high/
SPA's August valuation no longer applies.
https://ukinvestorshub.co.uk/site/2021/12/20/gas-price-in-europe-going-up-up-up/