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Regardless of what does or does not happen with SNG his posts on BRH have been comedy gold.
The points made by some on here about the AA debt, financial position etc were apparent after the 2020 annual accounts were published months ago. Those same points were actually apparent way before that but let’s leave that aside.
It is obvious the money (market) has got bored with this or thinks a deal has gone. But if the business is a complete piece of no hope crap why has a PE player spent so much time looking into it? Genuine question. Genuine answer welcome.
Tom - presumably you hold Ben van Beurden (the Shell CEO) accountable for the decline in share price since he was announced/appointed. As a reminder, he has steered the share price from approx £22 down to currently less than £10, an utterly cretinous performance - by your own clueless criteria.
From the RNS:
“GEMA, Ofgem's governing body, may impose a financial penalty on any business found to have infringed the Chapter II CA98 and/or the Article 102 TFEU prohibition of up to 10% of its annual worldwide group turnover. In calculating financial penalties, GEMA takes into account a number of factors including seriousness of the infringement(s), turnover in the relevant market and any mitigating and/or aggravating factors.”
It does set a limit on the possible fine. But I am not sure whether that means 10% of annual worldwide turnover or 10% of worldwide turnover for the period of years in which the infringement took place?
Yes saw it - clearly a buy at circa 86p.
Most recent mention of the dividend was back in May:
"The Board is aware of the importance of dividends to its shareholders and, after careful consideration of the factors impacting this decision, will provide a further update at the time of the preliminary announcement of results."
Preliminary announcement of results are scheduled for 16th September so expect some news then.
Well yes. Smith called it right when the share price was multiples of what it is now. At £13 odd a share it is a different proposition imho. And if it is as crap as you say then any share awards aren't worth too much in the grand scheme of things! It is a massively unpopular sector for obvious reasons but there is still a market (albeit reduced) as such. It is going to start tomorrow well south of £13 as it is going ex div. I think I will dip a toe in the water when I think the time is right. I will probably get it wrong as well! The div yield is currently spectacular - the last RNS referring to dividends was quite punchy even though the message at the time was that of a reduction. A "progressive" policy was proposed. It is an intriguing investment case for sure!
I am thinking that e is assuming that the Sky News headline of a few days ago is 100% accurate rather than just an approximate. The headline was:
"Apollo joins mission to secure £3bn takeover of debt-laden AA"
If they do offer £3 billion then the equity would be about 57p per share. Personally, I do not regard that headline as evidence that Apollo will offer 57p.
Any offer has to voted on by the shareholders - the Board of Directors might recommend acceptance but they cannot carry it without the shareholders backing. 18% is a good chunk and the potential owners would want AB onside. I am invested here (not massively) and, at present, am not certain exactly who the other major holders are. I will research it tomorrow! The support of anyone with a decent chunk is important to whoever wants to buy AA.
Thanks. I have always thought it did. My simple understanding of a short is that shares are borrowed by the shorter who then effects a sale transaction. And to close the short the shorter must buy the shares back at some future point to return them to whoever loaned them. Do those two transactions have no effect on the share price? Happy to be educated on this.
Dirty tactics do happen in takeovers. I remember when Cable and Wireless (CWW) was bought by Vodafone a few years ago. Vodafone got Deutsche Bank to keep shorting the shares to stop the price going above their target price of 38p a share.
Understood. Some of the positions held by these people are certainly interesting! Hence my earlier question about Barclays.
Am I right in interpreting the Barclays RNS that their interests here are pretty much equally as long as they are short ?
Thanks for that.
RNS about 20 minutes ago regarding Citigroup - anyone with knowledge of this sort of stuff got a view of what that is all about?
Your best chance of finding out is to ask them why I suppose. Seems a bit strange you didn’t do that?
I have used several brokers over the years and not one of them has ever refused to buy a stock I asked them to.
Get another broker if you want to buy the shares! As an observation it seems odd that you pitch up on here with your first ever post and make such a weird statement
Thanks greenhighlander, I had missed that RNS! Having now read it, I have come to the same conclusion as you. And I hope that we are both correct! So I guess the next issue is where the shares in AccuStem will be quoted?
Thanks for that whimax - very clear.
I have some of these in an ISA and am a bit concerned about the possibility of the AIM listing being cancelled leaving the shares only quoted on NASDAQ, Can anyone confirm if you can hold NASDAQ shares in an ISA?