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BLVN Bowleven Plc

0.15
0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bowleven Plc LSE:BLVN London Ordinary Share GB00B04PYL99 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.15 0.10 0.20 0.15 0.15 0.15 228,891 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 0 -2.02M -0.0062 -0.24 491.2k
Bowleven Plc is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker BLVN. The last closing price for Bowleven was 0.15p. Over the last year, Bowleven shares have traded in a share price range of 0.111p to 3.35p.

Bowleven currently has 327,465,652 shares in issue. The market capitalisation of Bowleven is £491,198 . Bowleven has a price to earnings ratio (PE ratio) of -0.24.

Bowleven Share Discussion Threads

Showing 92876 to 92899 of 92900 messages
Chat Pages: 3716  3715  3714  3713  3712  3711  3710  3709  3708  3707  3706  3705  Older
DateSubjectAuthorDiscuss
27/3/2024
17:39
I would say it was positive to hear that all the partners want to move forward
dealy
27/3/2024
14:57
Any surprises in interim results?
ham74
26/3/2024
11:52
Whatever the case o think Blvn will be relatively tightly held. The option ran out today.
manual dexterity
26/3/2024
11:13
How do you work out that?
ham74
25/3/2024
18:18
then it will be based on percentage of votes cast
dealy
25/3/2024
16:59
Dealy, that theory may be true for big institutions or big stocks, but does not seem plausible for BowLeven. How do you explain the near zero level of votes at the 2023 AGM?
ham74
25/3/2024
16:40
most shares are in nominee accounts and the institutions like ISS usually vote along with what the board recommends
dealy
25/3/2024
13:41
In the absence of owt else appearing in the RNS, I'm assuming a simple majority of the votes cast.
warbaby43
25/3/2024
08:12
Who has voted? Who wants to but cannot work out how to? Who cannot be bothered?

I wonder if anyone has subscribed for the open offer, but not voted? That would be putting the horse before the cart, because the AGM votes are needed to go ahead with the open offer.

ham74
25/3/2024
07:56
Warbaby - what threshold is needed for these resolutions to pass? Is it a simple 50% , or a higher percentage? And is it all shareholders, or only those present at the AGM?

We only have 30% in the bag from Crown Ocean. Presuming the Dutch vote only gets us to 34%.

Sand Grove is interesting, I am not sure what their percentage was on the relevant date, and would they bother voting if they are reducing their holdings?

Private investors are definitely the wild card, especially as brokers differ on how they flag up the corporate actions.

ham74
23/3/2024
11:33
For those who haven't had chance to trawl the "Open Offer" section on the Investor Relations section of the BLVN site:


Nice work etc:



For 12 days per annum plus another £1,500 per day for owt on top of that, this from the Arnoff appointment letter:

"You shall be paid a fee of £100,000 per annum for acting as a Non-Executive Director and Chairman ofthe Board. These fees shall be paid in equal instalments monthly in arrears after deduction of any taxes and other amounts that are required by law.
4.2. In addition to the annual fee referred to in paragraph 4.1 above:
a) a one-off bonus payment of £100,000 shall be paid to you on the Company securing a Final Investment Decision in respect of its Etinde project; and

b) a one-off bonus payment of £100,000 shall be paid to you on a sale of the Company, provided that: (i) the price per share payable in respect of such sale is equal to or exceeds 19 pence; and
(ii) the sale price gives an implied valuation of US$50m for the Company’s Etinde project (and existing cash of US$10m plus Lukoil Final Investment Decision payment of US$25m)"

With regard to the 19p per share, as the contract is deemed to have commenced on 2nd November 2023 (see 1.1) that figure is plainly based on the old 335m shares in issue and not the new 1.897bn figure.

For comparison, looking back to 2019, Arnoff's predecessor, McDonald, was paid $58,000 ie c £46,000.

As for everyone's favourite CEO:

warbaby43
22/3/2024
16:21
Pretty sure that Kundar (newly announced holder with over 5%) will maintain his stake. A few die hards are also likely to take up their rights. So getting above 80% looks impossible
dealy
22/3/2024
15:09
>60% is close to 75% which isn't far from 90%
glavey
22/3/2024
10:57
It will be interesting once the placing is done. Fully underwritten could see the new major shareholder with excess of 60 percent.One to watch from there on in.
manual dexterity
22/3/2024
10:55
"Not sure what their ave ps would be at 60% holding though..? Less than £10m I think."

Back in 2016/17 building up to the coup and the expulsion of the jockocracy, COC were buying 96m shares at prices in the twenties and thirties with an average of c28p. Off their total outlay has to be netted the 15p 2019 divi so pre the present exercise they had probably invested c£12m.

Where they are going to end up post closure of the Open Offer plainly depends on take-up by the remaining holders but my guess is that they will be holding comfortably over 60%. What happened back in 2017 might be instructive particularly as Bowleven was even featuring in the Press then given the controversy the COC coup caused not least on these PI boards.

Even with all that kerfuffle, excluding the COC holding, only c 35% of shares got voted:

warbaby43
22/3/2024
10:50
Very difficult to buy this one
A tiny buy and offer share price jumps 25%.

maytrees
22/3/2024
10:36
Tower Resources (TRP) is the Stock to be in
riskyinvestor
21/3/2024
11:45
If you think New Age can lead the Etinde project to FID, then there could be USD 25 million for that, which would be worth about 10 times the market cap after the share issue.

Or maybe New Age finds another buyer for the stake.

ham74
21/3/2024
10:48
So, is it worth bothering taking up the offer, or will I just be throwing good money after bad?
thdba0
20/3/2024
20:13
If this did ever develop crown could have a good portion of that £150m nav.. Not sure what their ave ps would be at 60% holding though..? Less than £10m I think..
the stinger
20/3/2024
19:13
Basically if less than 20% of investors subscribe for any shares, I think Crown Ocean will end up over 50%
ham74
20/3/2024
15:05
So what %age might one guess will end up held by Crown Ocean Capital?
glavey
19/3/2024
16:31
My thoughts exactly J as I took up my allocation. What can go wrong….Dont answer that.
iturama1
19/3/2024
07:59
Well, in for a £0.001 in for a £.
jordaggy
Chat Pages: 3716  3715  3714  3713  3712  3711  3710  3709  3708  3707  3706  3705  Older

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