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Soder i understand that. I was thinking more to do with rock samples that may show something up

I am with you all the way on that sasa43. It seems to me that they purely want this to happen due to who is running Kistos. What do they think would happen if for whatever reason he needed to step back from his duties.
Have people forgotten that we will soon be yielding around 5 percent with the added bonus of security in terms of the bank balance. Let alone the possibility of eigg and some mega deal at a later date

Newkotb we still have North eigg.surely some results of the drill are possible after a few weeks

Direstraits. The thing company is lobbying shareholders directly. So just ignore their spam. Hold out as North eigg is a game changer even without Sericas current reserves in cash and oil gas reserves.we are battleship as opposed to their inflatable dinghy inmo

Newkotb you should maybe decide which side of the fence you are on being a Kistos holder as well.

The company could still offer a tender offer to secure it's share base

And your decommitioning costs are

We'll see. Just hope that Serica isn't forced into buying a hyped up company like Kistos. I'm sure they won't when it comes to it as there far better outfits and opportunities out there.inmo

Not in your wildest dreams.which company pulled off the biggest deal that didn't cost it's shareholders.Serica. Kistos is full of wind and inflated debt. With money tightening they will have to pay the Piper soon inmo

Meant to add they need to talk to each other and maybe do some strategic deals , but remain independent . Also what is this costing in terms of advisors and fending of a unwanted approach.

The more i read into this the more angry i get. I just hope that Serica does not try again to acquire Kistos. We do not need them. The shares are overpriced with debt and egos to match. My view is batten down the hatches and fend them off as they clearly haven't got the funds to carry on with any resistance and opportunist approach inmv

Meant to add they could tender a percentage to existing shareholders at say £4.20. Repurchasing twenty percent would still leave £200 million in cash together with the shares repurchased.

Here's another thought. They could do a tender offer for a limited number of shares offering a premium to the current offer.

Maverick7. I was thinking more in terms of part of a move to stem off this approach by taking some shares out of the market and holding them in treasury. They could always sell at a future date. Had this approach not came along i would have still been against any share buy back. Also it would defeat the object if their plan was merely to cancel the stock. Maybe someone could answer that, but as i see it they need to now act quickly before the acceptances start to roll in. inmo

I think this is the time for the company to buy back shares. At least it would take ten percent out of the market. They could also buy into Kisto. Maybe attack is the best policy now. My understanding is that either party needs to secure 51 percent.
The danger now is that Kisto will receive a number of acceptances which will in tern attract more acceptances as the percentage increases. I can also see them upping the offer once they receive a certain amount similar to the Faroe takeover.
What is also needed is some data on North Eigg as soon as possible inmo

I agree Newkotb. Remember how things went with Faroe

I think Serica and their brokers need to rapidly get the share price up in some way. Otherwise some investors may feel that Kistos offer isn't that bad inmo

Newkotb I know you were no great fan of Borris,but this is the kind of bureaucracy he wanted to get rid of.

Sasa43
It certainly is beginning to look that way and fwiw btw i didn't think about the difficulty in the equity element , but at least it has highlighted Serica's true value. Maybe both parties could do some interesting deals with each other going forward.

Sasa43
fwiw my view is that this offer will be increased hopefully by the cash element, but the more Kistos share price increases then the deal looks more likely inmo. There has been a lot of stake building inmv with the shares held by one or more trading houses. As i am sure you are aware no disclosures would happen until the order is filled.i.e held in the trading book as principle and especially if this has been carried out by an entity through a number of houses who will sell to the preferred house for the event. Even easier if you have an overseas arm.
fwiw i am a holder and will hold to the end as i believe Serica has now come to its full fruitition.i.e the dividend policy and carrying no debt