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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Essar Energy | LSE:ESSR | London | Ordinary Share | GB00B5SXPF57 | ORD 5P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 69.50 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 69.50 | GBX |
Essar Energy (ESSR) Share Charts1 Year Essar Energy Chart |
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1 Month Essar Energy Chart |
Intraday Essar Energy Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 26/1/2016 | 14:29 | ESSR : ON verge of break out ! | 195 |
| 29/3/2014 | 08:06 | Essar Energy of India | 997 |
| 19/2/2014 | 19:48 | Today's RNS, can someone explain pls.. | - |
| 26/11/2013 | 11:59 | Essar Energy Plc | - |
| 29/6/2010 | 08:20 | ESSAR ENERGY | 6 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 23/4/2014 15:55 by gbb483 Given that the quoted price to buy is currently 67.25, which with stamp duty is 67.5 - could you buy stock today and sell it on the 2nd for 70, making 2.5p profit? This sounds so obvious there must be a catch - 3% gain for just moving a bit of money around. |
Posted at 14/3/2014 10:17 by idle dreamer Essar Energy Minority Owners Face Friday Deadline for SweetenerBy Selina Williams LONDON--Minority shareholders in oil company Essar Energy PLC are expected to find out Friday whether its Indian owners will raise their offer to buy them out, in the latest in a string of shareholder controversies that have damaged the reputation of London-listed emerging market resource companies. The billionaire Ruia brothers have until 1700 GMT Friday to make a formal bid for the 22% of Essar they don't already own. Last month the pair--Shashi and Ravi--made an informal offer of 70 pence per share through their Essar Global Fund investment vehicle, a far cry from the 420 pence price at which Essar floated in April 2010. Late Thursday, Essar was trading at 67 pence a share, a sign investors don't expect a significantly higher offer. An independent committee of Essar Energy's board has already said the brothers' offer didn't reflect the company's true value and future growth prospects. The initial offer triggered a 28-day period during which the Ruias could complete the deal terms, a period which ends Friday, or request an extension to Friday's deadline. If no offer is forthcoming, Essar Global would have to wait six months to make another offer. David Cumming, head of equities at Standard Life Investments, a top 10 Essar Energy investor, said Essar Global's attempt to buy out minority shareholders was "a calculated attempt to deprive minority shareholders of the substantial future upside in Essar Energy's valuation." The sharp fall in Essar Energy's share price in late 2013 worried management at Essar Global and prompted them to look into buying back the minorities stake, a person familiar with their position said. "They [Essar Global] were left with no choice but to take radical action, " said the person. The informal offer amounted to GBP900 million ($1.5 billion) offer to buy out minority investors. Current U.K. rules effectively allow a shareholder with over 75% of a company's shares to push through a buyout, because a stake of that size means they can unilaterally pass so-called company special resolutions. That means minority holders risk being left with a stake in a private company and no way of protecting their investment. "What is happening [at Essar] is a classic illustration of the dangers of shareholders investing in a company where they are a significant minority. These are lessons shareholders will apply elsewhere," said one investor who bought into Essar Energy's initial public offering but who has since exited the stock. The situation at Essar follows corporate governance battles involving major shareholders at Indonesian coal miner Bumi PLC and Kazakhstan-focused Eurasian Natural Resources Corp. PLC. Bumi became embroiled in a long-running boardroom battle that pitted its former 48%-owners the Bakrie family against financier Nat Rothschild. ENRC was taken private last year by its oligarch founders and the Kazakh government after the company's share price slumped. U.K. market regulator the Financial Conduct Authority is already consulting on new rules that would offer more protection for minority investors. But it also doesn't want to deter global resource companies from listing in London, especially as the IPO market ramps up. Nigerian oil company Seplat said this week it plans to float a 25% stake on both the London and Nigerian stock exchanges, raising $500 million primarily to fund acquisitions. The company's Nigerian founders will remain its largest shareholders, along with French energy company Maurel & Prom SA. "Perhaps we won't see quite as many companies coming here now because the investor base will be a bit more cautious, but that could overall be beneficial to respect for the market in London," said a person familiar with company flotations. At the time of its $2 billion flotation, the Ruia brothers' success in building Essar Group from a small construction firm into a conglomerate boasting steel, energy, shipping and infrastructure businesses, seemed to bode well for its energy arm. Essar Energy still boasts assets worth $16 billion, according to the company's website, including the giant Vadinar refinery and coal resources in India, seven power plants in India and Canada, and oil and gas blocks around the world. In a sign of confidence, it bought of Royal Dutch Shell PLC's Stanlow oil refinery in the U.K. for $350 million in 2011. But a string of setbacks, including regulatory delays in India, an unexpected tax bill of around $1 billion and weak refining margins, ate into revenue and increased its debts. India's weaker-than-expected economic growth and a currency depreciation also hit profits. "The risks of the business," said the investor who exited the stock "were woefully underestimated." |
Posted at 21/2/2014 09:43 by undervaluedassets In 2010 this company sold a watch to the British Investor for £4.00Now they are offering to buy that watch back for 70p. There is value here and the potential purchaser (the previous seller note) knows it ... why? Cos it is the Same watch - their watch - A watch they know! . In fact in many ways it is not the same watch it is a better watch than 4 years ago. . . .Although not yet profitable the turnover of ESSR has more than doubled in the 4 years since listing. No wonder they want it back for 70p! |
Posted at 18/2/2014 08:24 by skater Another mugging of PIs by overseas companies listed on London exchange.ENRC first now ESSR, who's next? Why do the authorities allow such unstable/dodgy firms to list.... wait I know - the ecking greedy grubby LSE hierarchy that's who! |
Posted at 17/2/2014 08:20 by salpara111 I wonder how this will play out.... Clearly the institutional investors are mad as hell and I imagine they are not going to vote in favour of being mugged at 70p.Given that the majority owner is going to have to sell more shares at the current share price if they dont manage to take it private means they have a real incentive to get an agreed deal, possibly at a price considerably higher than the current one. The share price reaction this morning suggests that a deal wont be done at 70p.....remember that the majority shareholder does not get to vote, only the 22% free float owners get to vote on any takeover. |
Posted at 17/2/2014 07:43 by bulltradept Any firm dealing with India needs to be careful and as for ESSR, good riddance to bad rubbish. |
Posted at 22/1/2014 17:43 by undervaluedassets Uncharted territory for the shareprice now. All time low at the close today. But then it is hard to target a meaningful upside Share price when you make nothing but losses. |
Posted at 03/12/2013 17:15 by dimpkins I presume FTSE inclusion is on the back burner given the share price fall? Essar Global Fund Ltd stated "believes that the shares of Essar Energy represent exceptional value" that was at approx 97p |
Posted at 22/11/2013 10:56 by undervaluedassets So Essar global fund set to sell huge amount of stock? how can that be good for the share price? |
Posted at 12/3/2013 18:52 by tenapen The ESSR share price is finding 144p difficult to break and hold. |
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