Member Info for Wait

"you might have expected mirrors, both inside and out, to outlast the vehicle's expected lifespan, now they tend to have to be replaced periodically because their electrical components wear out"

That's not true.

And batteries rarely require replacement within the average vehicle lifespan, and in many cases, they outlast the rest of the car.

Please be real.

Good update. At 300p it yields 7%. Happy with that.

Big drop though

So RIO is yielding > 10% and has a decent track record. In an inflation world, this seems too good to be true - what am I missing please?

Seems to be trading in a narrow range since June. Break up or break down?

From RNS 9th April
"Redde Northgate (UK, B41H739) will be added to the FTSE 250 Index"

Guess that explains the recent rise

Still at > 9% divi with a progressive policy in place and takeover potential too.

I don't understand their figures, they show columns for
H1 2021
H1 2020
Is that the H1 2021 a mistake?

I can't help read this and think there is something in the books we don't know about
"In light of its own due diligence and in compliance with its investment criteria, M&P confirms that it does not intend to make a competing offer for Amerisur."
They didn't have to make that statement about the due diligence.

Going to be sickening if they ramp up post deal - which I suspect they will. CPO-5 increases will confirm ONGC, OBA increases will confirm board were holding this co back.

From the recommended offer RNS "although GeoPark Colombia reserves the right to effect the Transaction by way of a Takeover Offer with the consent of the Panel (where necessary) and in accordance with the Cooperation Agreement"
So if they don't get 75% then they'll revert to a standard takeover which requires 50%.

Looks like it went via Investec the house broker.
Bought 11,218,037
Sold 11,218,224

Big sale of 10,443,037.
They aren't sticking around

Thanks threeputt.
Why would they stipulate that rather than the normal take over code? Guessing because of the next sentence "In addition, a special resolution, to deal with certain matters ancillary to the Scheme, must be passed by Amerisur Shareholders representing at least 75 per cent. of the votes cast at the Amerisur General Meeting." - ????

Also begs the question: What percentage of people would not be aware of this vote because their shares are tucked away in a lost pension somewhere? 5-10%? To get 75% vote with this offer, they are going to play hardball big time.

According to this document https://www.slaughterandmay.com/media/39320/a-guide-to-takeovers-in-the-united-kingdom.pdf
page 46 at more than 50%:
"offer capable of becoming unconditional as to acceptances"
Looks like a done deal then?

The problem with a counter bid is that they would have to heavily discount CPO-5 on the basis that ONGC are the operator and are happy to work part-time on this. Also Geo must have much local social and political influence that could restrict access to transport.

Oxy are the obvious counter bidder, but given Mich and bod irrevocable agreements, it would be a huge effort.

There's probably a deal already done between Geo and Occ that will play out in a year or so.

Couldn't agree more hand-some.

Going to buy some Geo shares

Selling 2,892,600 on Friday

In hindsight, it was a warning sign that they continued to sell after the FSP was initiated. Would have thought they would have been contacted about the deal and declined to participate in the stitch up - might be worth contacting them too ML?

This is either a terrible deal and the board haven't served in the shareholders best interests, or ....other parties (i.e. oxy) didn't respect the FSP and the board had to accept this bid in order to trigger Oxy and others into competing action.

Unfortunately, think its first one.

Clearly they see most of the value with CPO-5 - not obvious what they'll do with PUT assets. The board should have disposed of CPO-5 alone, and not thrown in PUT assets for little extra value. Why did they encourage bids for the entire company, were the bids for CPO-5 even worse value? Sucks of going through the motions of the FSP.

No media today either recommending offer.

Worst case scenario for me was a management buyout, this follows very closely behind.