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| Fri 13:35 | hugepants | They may return the cash via a tender offer at a price closer to cash/NAV similar to SeaEnergy did quite recently.
They are returning 7.25p per share which is £30.2M. If they decide to tender at say 15p that would mean them buying and cancelling 200,000,000 shares at 15p leaving 220,000,000 shares in issue. So shareholders would have slightly more than half their shares remaining and sinc... read more... |
| Fri 11:16 | hugepants | FWIW I also increased my holding today. Everything in today's RNS sounds positive for the ongoing business, including the likely Bitterfield deal, and the amount of cash returned is greater than I expected. read more... |
| Fri 09:39 | kiwihope | Hugepants,
We've done the same sum, about 11.5p book value after return of cash. Of course things may have changed in the last 5-6 months, but from the latest statement it doesn't sound like management are planning any more big write-downs over and above those already in the accounts.
Regarding the share price after cash return, it may be in the 6-7p range. However I suspect the instant... read more... |
| Fri 09:17 | hugepants | After 7.25p is returned then cash/NAV after the return will be about 11.5p (based on last results). I think the price post-return will be in the 6p-7p range to maintain a similar discount to the situation before the cash return. So I agree that there has been a very muted response to todays news. dyor etc read more... |
21/05/2013 20:08:16
