Member Info for wokinpark

time frame - not until tax refund has been received by CNE and probably not for 4-6 weeks thereafter re circular (has to be voted upon by SH) and then tender offer/consideration, etc. i would say cash to be paid out from tender 90 days after tax refund. SP - anyone's guess.

if CNE have followed all the rules and form filling as per the set procedure, it is highly unlikely that GoI will then not pay. yes i realise the market is not putting much store into this but i assume GoI would be breaking their own Act(s) and rules if they then did not pay unless the whole strategy all along was to get the affected companies to rescind their legal claims against GoI and then not to pay them. i assume the legal claims are back to back, ie they can be re-instated if GoI does not pay, so CNE would have to fall back on the Arbitration award.

Theosus, i dont disagree re SP, but it is (or will be) based on SP post receipt of the tax refund. whatever the SP is at the time is unknown so whether it is higher/lower/the same as right now i cant forecast. however each SH will have to take a view as to whether they tender the %age of shares that the Company will tender for and the price of the tender. the alternative can be for each SH to sell into the market and incur trading charges if the Sp is higher than the tender price .

if i am not mistaken, the tender offer tends to be a look back of say what the mid price has been for the last 30 trading days ( i assume this would be after the GoI money is in) and say it is xxp per share and we can tender for xx number of shares. it really is a share buyback but going directly to shareholders rather than buying from the market in drips and drabs, but in effect that is exactly what it is.

200 just reached, i doubt we will get much more than this today until we hear further news re refund, etc.

the tender offer is normally to all shareholders at xxp per share. they say we are buying back xx number of shares so out of the total number of shares in issue, say for this example it is 50%, if you hold 100 shares, you can tender 50 shares to be bought back by the company. if you do not want to tender, you say 0 for share tender. if you want all to be tendered (over and above) your shareholding , say 100 shares and if others are saying 0, you get all your shares bought back. normally it is a mixture of people who need the money and those who dont or want to stay in for a longer term.

morning about the DEVAS news or the Canaccord price forecast ? or does it matter ?

https://www.marketbeat.com/instant-alerts/lon-cne-a-buy-or-sell-right-now-2022-01-2/

one day closer to the galaxy far far away!

its just nice to get some upward movement before the news comes out (!). ive said it before i'm out when the money/divi/buyback lands and the SP is above 225 but hoping for 250+. LT is a different ball game and i wish the LTH the best.

i assume the people ITK know more than we know ! or is it an unknown known ?

so you are giving the certainty of the payout to be 6p per share from we are at present ? that is extremely low.

just to be clear, i put 211p as my post tax refund receipt price estimate as i want it to be a lot higher than that but i would rather be pleasantly surprised when it does happen

what is your range for the Sp if the $1bn tax refund is announced ?

sorry, my post, in other news............is a duplicate of erbalaji's post of earlier. interesting to see that CNE are interested in Nigerian O & G producing assets.

https://mybigplunge.com/business/cairn-withdraws-all-lawsuits-against-india-to-get-%E2%82%B97900-cr-tax-refund/

https://www.vanguardngr.com/2022/01/chappal-petroleum-others-go-for-exxonmobil-nigeria-oil-assets/

https://economictimes.indiatimes.com/news/economy/policy/cairn-energy-withdraws-all-litigations-in-retrospective-tax-case/articleshow/88705064.cms

ah, the special tax cheque refund pen needs to be found and to ensure it has ink in it. the company and Tax officials to have person to person meetings before the transaction can be concluded. to put minds at ease, i always have face to face meetings with the HMRC to get my £ 27.99 tax refund back before they agree to pay it over (not). without being too cynical, ahum, it smacks of, we are giving you all this money back, that you do not deserve, what are you going to do for us ? i will leave my empty briefcase open while i go out to make a call and why dont you close it for me while i am out ? it is either above board or someone wants something under the table to speed up the process.

EC, you might have been right the first time ! ;-))

it's looking promising from a daily basis, somehow it looks too good to be true.

as long as it is upward, is a nice to have

i dont think you can use the words "the company" and "keeping us shareholders informed" in the same sentence unless it is used negatively !

we hear more from the press (mainly Indian) then from our dear BoD. it helps it is of public interest in India due to the tax refunds due to the companies concerned.

i'll count 74 as done also today !

wonders never cease, hopefully there is no retrace backwards.