Member Info for x54v

“Signing up a FEED agreement is a key part of the timeline of the Anchois gas development and the speed with which it is being done is very exciting for shareholders in Chariot. With definition of progress being made in the key areas of such pre-FID activity the signs are highly encouraging.

With these encouraging moves being made it must be likely that Chariot is either up with or ahead of the game in the process of developing Anchois and I expect more good news on this front. Despite the tripling of the shares since the December Bucket list I think that the shares have a long way to go up from here.”

https://www.malcysblog.com/2022/06/oil-price-ujo-chariot-iog-rockhopper-jadestone-cornerstone-and-finally/

Sell cleared, price ready to move back up again.

Directors keen to load up with £476k worth just below the current price:

“The Subscriber Directors have conditionally subscribed for, in aggregate, 2,594,442 New Ordinary Shares at the Issue Price.”

Placing and open offer both massively oversubscribed. Both instis and PIs as keen to load up as the directors. And no wonder.

“We are excited about the coming months, as we anticipate the rest of the year will be a very busy period for Chariot."

https://s26.q4cdn.com/993376269/files/doc_downloads/2022/05/Investor-presentation.pdf

https://s26.q4cdn.com/993376269/files/doc_downloads/2022/05/Investor-presentation.pdf

Interesting to note that Octopus and Paradice have “signalled their intent to accept or procure acceptance of the Offer”.

Doesn't really matter. ADVT now going direct to shareholders:

"Having sought the recommendation of the M&C Saatchi Independent Directors since early January, to date that has not been forthcoming. With today's announcement we are seeking the support of M&C Saatchi Shareholders"

“AdvT acquired its shares in M&C Saatchi at 200 pence on 5 January 2022, immediately prior to the commencement of the offer period. Therefore, any firm proposal by AdvT will need to have a minimum offer value of 200 pence per M&C Saatchi ordinary share at the time an announcement is made with respect to a firm intention to make an offer for M&C Saatchi.”

https://investegate.co.uk/m--38-c-saatchi-plc--saa-/rns/further-extension-of--put-up-or-shut-up--deadline/202205100700048599K/

NAV 96.3p here currently on today's move up at SAA on strong results.

Strong results and a decent move up in the share price so far.

Will be interesting to see what Vin Murria does now.

Difficult to know what the outcome will be.

Neither party would have continued with the talks for so long if they didn’t believe there was the potential to strike a deal.

A much shorter extension period this time. Must finally be getting close to whatever ADVT’s revised proposal is.

A bit of a recovery in the price following the Crux buying.

Still below cash here and way below NAV.

If the deal fell through and the SAA shares were sold at a discount, say at 150p, then ADVT would hold a cash balance of 92.4p per share. A decent amount of upside from the current 78p were Vin Murria to call it a day with ADVT.

Certainly in the dark for a good long time with no hints whatsoever. It’s all just a guessing game really. Hopefully all will be revealed soon.

SAA also moved up late in the day today.

Interesting to see that Crux has been adding.

If there was to be a placing, you wouldn't imagine an insti would be adding at the current market price.

Yes, trading below cash and well below NAV at the moment. The market appears to be waiting for clarity as to what is going to happen next.

The short term risk here is that there is dilution to ensure a successful bid, but if you believe in Vin Murria's capability to drive shareholder value over the long term then that shouldn't be a big issue.

Excellent Capital Markets Event. It gives you a real sense of the growth potential here. Well worth a watch.

https://webcasting.buchanan.uk.com/broadcast/621e395725681c6aa1cdcb45

Seems to have kicked off a flurry of buying and the price is now breaking out after a wide consolidation.

Can move pretty quickly once it gets going as the rapid move up from August last year shows.

Harwood Capital keen buyers at the current price

https://investegate.co.uk/northbridge-ind-serv--nbi-/rns/director-pdmr-shareholding/202204210847068867I/

ADVT below cash and well below NAV now. One possibility for the weakness is that the ADVT is looking to place to raise funds to make an offer to buy SAA outright.

Given that the SAA board stated previously that the 230p equivalent undervalues the company, I imagine they’ll be looking for something like 250p.

The talks have lasted a long time without breaking down, so you’d think there must be a decent chance that a further proposal which the SAA board is happy with is just around the corner.

Opportunity at ADVT?

Vin Murria has invested £17.5 million of her own cash here at 100p yet the shares are currently quoted at just 79.5p mid.

ADVT has 78.9p per share in cash and a holding in SAA worth a further 15.2p at the market price.

So you can currently buy 94.1p of value for 79p (a steep discount to the 100p Vin Murria paid).

Vin Murria has had great success previously, 10-bagging both Computer Software Group and Advanced Computer Software. Her plan is to do the same again at ADVT using a buy and build approach. And clearly she is confident she can do it and prepared to put her money where her mouth is with £17.5 million of her own cash on the line.

How many times do you see a director purchase quite so large? Very seldom. £175k might be seen as a decent sized director buy. £17.5 million is equivalent to 100 such purchases.

The share price weakness at the moment is due to her proposed merger with SAA and the SAA board not being keen. SAA itself is trading well.

However the proposed merger plays out, surely there is a good opportunity around the current levels at ADVT with as much cash in the bank as the market quote and all the potential upside that alignment with Vin Murria can bring.