UK Stockmarket 2009 and beyond

StevieJ

sabretoothtigger wrote: »

So the largest shown here is taking over. Looks like they'd have to gang up together, it is best I think when directors own large portions

Wouldn't partners be a more appropriate description? from my calculations the main shareholder SPQR 29% (not sure where you got your breakdown STT) and the three individual people could cobble together 50%+ although I am not convinced about the privacy plot. I am wondering if the price collapse has maybe something to do with this going 'tits up' because that would be even more cash into the Cadogan coffers with a free shale gas play into the bargain. All things being equal the share looks a gimme, so something must have happened.

The transaction remains conditional on achieving certain conditions precedent including Ukraine anti monopoly clearance over the next 90 days.

Further to the announcement of 15 June 2012, Cadogan confirms that, together with its joint venture partner Ukrainian state-owned National Joint Stock Company Nak Nadra Ukrayny (Nadra), it has entered into a Share Purchase Agreement with Eni whereby Eni has acquired a stake in the joint venture established by Nadra and Cadogan, Ukrainian company LLC Westgasinvest.

http://www.energy-pedia.com/news/ukraine/new-150854

sabretoothtigger

I forgot about CAD for a while there, I think that sums up the price really.


HOIL suspended will roll over, if I wasnt clear on that. I held SKR while suspended and it was 5 months, they just rolled it over for me. In that case price dropped due to funding questions.

Details on HOIL rights, not sure where price goes or drop in value exactly. Or how spreadbet firm handles that

Principal Terms of the Rights Issue

The Rights Issue is fully underwritten pursuant to the Rights Issue Underwriting Agreement. The Issue Price at which Qualifying Shareholders will be invited to subscribe for New Ordinary Shares will be determined and announced in advance of the EGM and will be at a discount to TERP within a range of between 40 per cent and 45 per cent, having regard to, among other things, investor feedback, market conditions, any relevant requirements of the Listing Rules and/or Investor Protection Committee Guidelines and the market price of the Company's shares over the five days preceding the determination of the Issue Price. The Issue price is to be announced no later than 7.00 a.m. on 28 August 2012.

The New Ordinary Shares, when issued and fully paid, will rank pari passu in all respects with existing Ordinary Shares, including the right to receive dividends or distributions made, paid or declared (if any) after Admission of such New Ordinary Shares, as described below. Applications will be made to the UKLA for the New Ordinary Shares to be admitted to Listing on the Official List and to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the Main Market. It is expected that Admission will occur, and that dealings in the New Ordinary Shares on the London Stock Exchange will commence, at 8.00 a.m., London time, on 17 September 2012.

The Rights Issue is conditional upon, amongst other things:

--  the passing, without amendment, of the Resolutions that are to be
    proposed at the EGM; 
--  the Rights Issue Underwriting Agreement not having been terminated prior
    to becoming unconditional; 
--  the Facilities Agreement not having been terminated and none of the
    conditions precedent to drawdown set out therein having become incapable
    of satisfaction; 
--  the Acquisition Agreement not having been amended in any material
    respect, and not having lapsed or been terminated nor any of the
    Conditions having become incapable of satisfaction or having been waived
    prior to Admission; and 
--  Admission having become effective by no later than 8.00 a.m., London
    time, on 31 August 2012 (or such later time and/or date as the Company
    and the Underwriter may agree).

 
The results of the Rights Issue, including the aggregate number of New Ordinary Shares issued and the aggregate amount raised, net of expenses, is expected to be announced by Heritage to a Regulatory Information Service after 7.00 a.m., London time, on 17 September 2012.

Advance Capital Raisings

Concurrently with the Rights Issue, the Directors are contemplating (i) a potential non pre-emptive placing of Ordinary Shares ("Equity Placing") and (ii) subject to a waiver from the lenders under the Facilities Agreement having been obtained by the Company, a potential issuance of a convertible bond ("Convertible Bond Issue" and together with the Equity Placing, the "Advance Capital Raisings"), or a combination thereof.

If the Directors elect to implement any or both of the Advance Capital Raisings, any such Advance Capital Raising would complete and settle during the period between the date of the Prospectus (6 August 2012) and the announcement of the Issue Price (28 August 2012). Any amounts raised pursuant to any Advance Capital Raisings would reduce the size of the Rights Issue.

On positive side Gold is doing well I think ? held and risen for a bit now.
A big trader tells me not to expect too much, much work to recover. Look for 159 on GLD as a gauge .
ABG is very profitable on such a rise, vs risk its nice. VGM awful

sabretoothtigger

STAN down 25% today on Iran violation possibilities. Is stan another dodgy bank ?

I swapped some FRES for some of this knocked down STAN.

Its not a gigantic bargain but I think they are generally dependable and it yields 4%. They have been this low in the last year but volume of OBV says this selloff is more momentary rush for exits then anything.
Seems reasonable and I know people have had this sub 10 before as it was stupidly cheap.
I prefer it to the other banks at a low price I'll take the Asia risk

HOIL back in trade and its up. Would be nice if it doubled, rights to do first though at least its not dropped. Using vast cash reserves to gain revenue and profits, markets seem to like

Don't mention the M-word but Heritage Oil chief should take up his rights
Sometimes it’s so tricky to spot exactly what it is that puts investors off a company.
Take Heritage Oil. Is it that its chief executive and 33pc owner, Tony Buckingham, happens to be a former mercenary? Or that its operations are in places like Iraqi Kurdistan, Libya and the Congo? Or that it’s still embroiled in a $407m tax dispute in Uganda?
And that’s before Heritage tries to tap you up for $370m via a rights issue. It wants the money for a “transformational” deal: the $850m cash purchase of a 45pc stake in some Nigerian onshore oil fields. Given Heritage is only valued at £317m, you can’t fault Buckingham’s ambition. And he might be right that buying cash-generative assets producing 35,000 barrels of oil a day balances its jam-tomorrow exploration. But the vendors of the Nigerian fields – Shell, Total and ENI – didn’t have the easiest time there. And, despite estimates the reserves could be worth $3.1bn-$3.8bn, you’ve got to get them out of the ground.
The shares, back from suspension today, are down 39pc in the last 12 months. And, while Buckingham admittedly has a big stake, he’s only “considering” taking up his rights. Asking others to do so, if he won’t, does seem a shade mercenary.

to-me-to-you

Do standard pay a div? do you have to buy shares today to get the div?

sabretoothtigger

Yep i think it maybe ex as of 7am tomorrow

I figure also if it falls more then div paid it can be bought after also for similar reason

Court or possible legal action can drag on months or years, its basically politics

I think STAN rebounded a bit fast, it might be due to div

HOIL doing good for the day

to-me-to-you

Yeah thatis what i was thinking only investing a small amount now then topping up, depending, either way it is still cheap at 1122

to-me-to-you

Any views on AGQ? possibly looking to put them in my ISA, I don't know a lot about silver, is this a no no on this site? Apologies if it is.

lvader

I own AGQ, it's one of my worst performing shares but it stands a good chance of doing well if and when silver takes off again. I don't rate tha management team though.

sabretoothtigger

I own silver miners but not that one. I have HER which issued shares at 0.77 and promptly dived to that level, I figure its good to buy now pity I already did

FRES and HOC are pretty decent I think. Fres mining more gold then ever which is probably just as well as its more solid then silver [EX Div this wed ?].

Depends on costs, Im not sure if silver was dirt cheap to get hold of then it could be the best one to mine.
Any insights on these miners is always great as my head starts to spin with too much geology I was never a top student


CAD up 10% today but not on great volume which makes it just a squeeze most likely.
It has to power on like that for a few days at least to count as a rise, its become like popcorn now I think just a pop up then down tomorrow? We'll see

INTERVIEW: Petrofac Sees Growth Opportunities in East, West Africa
By Iain Packham LONDON--

Oilfield services company Petrofac Ltd. (PFC.LN) is looking to expand its business, with its eye on east and west Africa, as well as broaden its offshore engineering, procurement and construction capability, its chief financial officer said Monday. Tim Weller told Dow Jones Newswires that the company is focused on geographic areas attracting upstream interest. "That inevitably at the moment leads you to think about Africa generally, both west and east. That's a natural area for us to focus on," he said. "If you look at East Africa, there's a lot of exploration activity going on, a lot of independent oil and gas companies being successful in terms of identifying new reserves and resources," he added. Mr. Weller said Petrofac has no set strategy--organic or acquisitive--for moving into the areas. "There isn't really one model we habitually follow and I think if you do, you probably miss out on opportunities, " Mr. Weller said. In terms of growing its offshore engineering, procurement and construction offering, the company has Yves Inbona--hired from Italian peer Saipem SpA (SPM.MI) in June--looking at strategies. "He [Mr. Inbona], at the moment, is looking for how it is we can grow that business, he's addressing exactly those points about organic versus acquisitive. We have tended to build capability organically, as a generic point. Acquisitions tend to be quite small, targeted to get specific skill sets in a particular capability," Mr. Weller said. "The point I would make is that substantial acquisitions don't make sense because they're quite hard to assimilate and you actually increase your risk of execution, but you could see some small targeted acquisitions to acquire specific skill sets, but at the moment we're focused very much on organic growth," the chief financial officer said.

At 1330 GMT, shares were down 87.0 pence, or 5.6% at 1,480.0 pence, in a slightly lower FTSE 100 index--down 0.2%.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires (END) Dow Jones Newswires August 13, 2012 09:51 ET (13:51 GMT)

^^ Thats a buy according to its trend. Break or back up


http://www.cityindex.co.uk/market-analysis/ashraf-laidi-blog.aspx

StevieJ

Looks like Lloyds have been quietly unloading millions of Cadogan shares, I wonder who has been doing the buying? How come we don't actually see this while it has been happening (apart from the possible reflection in the share price)? This is separate from their portfolio transfer to Threadneedle.
http://otp.investis.com/clients/uk/cadogan-petroleum/rns/regulatory-story.aspx?cid=46&newsid=260461