Member Info for Solarfire

Https://www.investing.com/news/company-news/ingredion-proposes-615-pence-per-share-offer-for-tate--lyle-93CH-4688268

Takeover bid

Very big rise!

Absolutely 3GBP realistic, couldn't agree more.

Yes nice to see the SP rise, as the politics gets sorted finally.

The run to 2GBP should be rapid because we never did recover from the Trump Tarrif bombshell.

GKP Website: The Company also provides regular operational and corporate updates each year, typically in January, June and December.

Yes that should concentrate the minds of the governments to get the oil exports re-started.

And judging by the comments coming out of Iraq over the last couple of days, there does seem to be some urgency.... helped by the USA no doubt.

Let's see what unfolds in the next few days.

Stray,

After the previous round of buyback which ended on the 24th July 2024 there were 217,021,881 shares in issue.

Then on 18th October the company bought back 16,595 shares.

So there is no mystery.

Daily fluctuations don't concern me as I'm not a trader. But what a great update today. Management sticking to their plans and not giving an inch to the KRG/ICG concerning the payments overdue. This should stretch out to 3GBP soon enough because with exports this company is a solid dividend prospect, attracting a more cautious type of investor / institute.

I suspect that the company will settle on payments in kind for the overdues. That's fine over a period of, say, 12-18 months, if it gets us back to exporting.

All good.

Https://www.rudaw.net/english/interview/18112024

Perhaps, just perhaps, the company are in financial / contractual negotiations concerning the pipeline and have entered into a close period.

Update now on APIKUR website.

https://www.apikur.uk/publications/apikur-calls-for-continued-tripartite-talks-to-restore-oil-exports-through-the-iraq-tu-rkiye-pipeline/

Straycat:¨It's not a popular view, but I reckon shareholders should steel themselves for the possibility that the delinquent debt will never be recovered.¨

The company has consistently stated that the debt repayment is a precondition to pipeline oil flows. Now it could be repaid over a very long period or under new terms of agreement, but I cannot see shareholders accepting a write off. GKP continued to pump under the understanding that payments would be made. KRG acknowledges the debt as well. Just my opinion.

Broadfordbay, oh come on, please! Please then tell us clearly why the BOD are buying back!

GKP's contract has always been legal. If it wasn't, do you think we would still be producing?

Volume of trades is large and steady. It's not PI's making the market. Remember that.

...not to mention the future risks and costs associated with future field development.

This is why contracts are agreed and signed by both parties. It protects both parties for the entire duration of the contract period, no matter who comes and goes from the respective business relationships.

GKP should hold firm imo. Talk of repayment of past debts paid over 10 years is going to be unpalatable, but at least the Oil Ministry are seemingly understanding that particular aspect of the impasse.

I trust the GKP management and their legal experts to look after the interests of all shareholders.

If management believe that the price they pay for the buy backs is not a good price, then they shouldn't buy them.

It came to pass at the previous round of buy backs some years ago that the management were wrong in their strategy and value was subsequently destroyed somewhat. This time it feels completely different, at least to me anyway, even though I would personally prefer the dividends.

¨The proposed amendment is to allow for a one-off award to the CEO. The award will be equivalent to 100% of his current base salary and will be payable in January 2025, 50% in cash and 50% in shares, provided he is still in employment (and not under notice) at that time and is subject to malus and claw back provisions. As set out in the Chairman’s letter, the retention of key staff is seen by the Board as one of the biggest risks facing the Company and, in particular, the retention of Mr Harris as CEO is key to this. Mr Harris has demonstrated exceptional leadership since his appointment in 2021 and is central

to the Company’s forward strategy of resolving the current situation regarding the export pipeline closure and the future development of the Shaikan Field. Furthermore, in light of the pipeline closure, Mr Harris did not receive a bonus or pay increase with respect to 2023.¨

100% base salary, not too shabby!

This is so middle east...."urgent"

Https://www.rudaw.net/english/kurdistan/030520244

Straycat, no way am I bailing.

When this mess is eventually sorted out we will hopefully be in a much safer climate for future payments and for surety of how the field will be developed into the future. I cannot believe the decisions to restart exports will not encompass all those discussion points. A fresh start, so to speak.

Also, concerning the debt, GKP should not concede, in my opinion. This is a political issue between the central and regional governments. But I agree that the company can make generous proposals for a repayment plan that suits both parties.