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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Fluormin | LSE:FLOR | London | Ordinary Share | GB00B5PC8898 | ORD 15P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 13.50 | 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 | 13.50 | GBX |
Fluormin (FLOR) Share Charts1 Year Fluormin Chart |
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1 Month Fluormin Chart |
Intraday Fluormin Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 29/1/2014 | 22:18 | Fluormin plc - digging fluorspar NOW ! | 1,108 |
| 13/9/2011 | 20:35 | Florida - too late to buy a sunshine home? | 2 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 04/4/2013 08:56 by napoleon111 hi :)first time posting here, sorry my question might not be directly related to flor, but it is related to vanoil, and before i go into reading back on years of posts and research into vanoil, and flor, i was wondering if someone could maybe break this down for me. I am a shareholder in avana,whats all this mean for me?? :P sorry stupid question i know, vanoil are taking over flor, and they are taking over avana, which is great, they are obviously wanting to build up a sizeable asset base in eastern africa, which could be great, but apart from that, i have literally had a look at the vanoil website for the first time today. would anybody be so kind as to shed some light on what flormin have to their name at the moment and what kind of prospects one might hope for? any answers are really really appreciated as its gonna take me a long time to start researching these 2 companies (flormin and vanoil) from scratch :) |
Posted at 26/3/2013 19:12 by dreggspicker Time table as said in the rns;Fluormin PLC Recommended Acquisition by Vanoil Energy Ltd Alert TIDMFLOR RNS Number : 9502A Fluormin PLC 26 March 2013 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. FOR immediate release 26 March 2013 Recommended ACQUISITION by Vanoil Energy ltd ("Vanoil") of FLUORMIN plc ("FLUORMIN" or the "COMPANY") (to be implemented by way of a Scheme of Arrangement under Part 26 of the Companies Act) Summary - The boards of Vanoil and Fluormin announce that they have reached agreement on the terms of a recommended share for share offer to be made by Vanoil for the entire issued and to be issued share capital of Fluormin (the "Acquisition"). In addition, the Company announces that it has entered into an Implementation Agreement with Vanoil. It is intended that the Acquisition will be effected by way of a Court sanctioned scheme of arrangement under Part 26 of the Companies Act (the "Scheme"). - Under the terms of the Scheme, Fluormin Shareholders will be entitled to receive: -- 0.806 New Vanoil Shares, -- 0.572 New C$1 Vanoil Warrants and -- 0.116 New C$0.75 Vanoil Warrants for every Fluormin share held - Based on the Vanoil share price of C$0.45 on 14 March 2013, being the last Business Day prior to the commencement of the Offer Period, the issued share capital of Fluormin, as Acquisition consideration, is deemed to be approximately GBP14.3m. The consideration comprising the New C$1 Vanoil Warrants and the New C$0.75 Warrants has been determined using the Black Scholes methodology - Based on the abovementioned GBP14.3m, each Fluormin share equates to 25.7 pence, representing a premium of approximately 31.8 per cent. - Mr James Passin is non-executive Chairman of both the Company and Vanoil. Mr Passin is also a principal of Firebird Management LLC, which through its funds Firebird Global Master Fund Ltd and Firebird Global Master Fund II Ltd is a substantial shareholder of both the Company and Vanoil. Entering into the Implementation Agreement with Vanoil (the "Agreement") is therefore classified as a related party transaction, as defined under the AIM Rules for Companies. The Independent Directors, being Mark Bolton, Albert C Gourley, Jeffrey Kofsky, Sean Murray, Muriel Dube and Brian Kiernan, consider, having consulted with its nominated adviser, Westhouse Securities Limited, that the terms of the Agreement are fair and reasonable insofar as its shareholders are concerned. - Vanoil and Fluormin have received irrevocable undertakings to vote in favour of the Scheme at the Court Meeting and the resolution to be proposed at the General Meeting in respect of in aggregate 7,914,404 Fluormin Shares, representing approximately 14.17 per cent. of the issued share capital of Fluormin as at the date of this announcement. Further details of the irrevocable undertakings are set out in Appendix II to this announcement. - The Independent Directors intend to unanimously recommend that Fluormin Shareholders vote in favour of the Scheme at the Court Meeting and the resolution to be proposed at the General Meeting, as those Fluormin Directors holding Fluormin Shares have irrevocably undertaken to do in respect of their own beneficial holdings of Fluormin Shares, amounting to, in aggregate, 2,033,335 Fluormin Shares, representing approximately 3.64 per cent. of the issued share capital of Fluormin at the date of this announcement. - The Independent Directors intend to make their recommendation on the understanding that all conditions to the Agreement, as set out in Appendix I to this announcement and in the Scheme Document, are or will be satisfied prior to the Scheme becoming Effective, including Vanoil's indirect subsidiary, Avana Petroleum Kenya Limited entering into a transfer agreement with Dominion Petroleum Kenya Limited in relation to the assignment to Avana Petroleum Kenya Limited of a 10 per cent. interest in Kenyan off shore exploration Block L9. - The Acquisition will be subject to the approval of Fluormin Shareholders and to the satisfaction or waiver of the other Conditions and certain further terms set out in Appendix I to this announcement and to the full terms and conditions to be set out in the Scheme Document. - Subject to satisfaction of the Conditions, the Scheme is expected to become effective on 17 May 2013. The Scheme Document setting out further details of the Scheme, the expected timetable and the procedure to be followed is expected to be dispatched to Fluormin Shareholders on 28 March 2013. - The Acquisition will be considered by Fluormin Shareholders at the Court Meeting and at the General Meeting. In order to become effective, the Scheme must be approved by a majority in number of the Fluormin Shareholders entitled to vote and present and voting at the Court Meeting, either in person or by proxy, and representing at least 75% in value of the Fluormin Shares voted. In addition, a resolution concerning certain matters necessary to implement the Scheme and approve the related Capital Reduction must be passed by 75% of votes cast by Fluormin Shareholders present and voting at the General Meeting. - In the event that Fluormin Shareholders vote in favour of the Scheme, Fluormin Shares are expected to be cancelled from trading on AIM on 20 May 2013. - Following completion of the Scheme, there will be a market for the Ordinary Shares of the enlarged Group on the TSX-V but Shareholders will not be able trade Shares on the AIM market after the Cancellation Date. Shareholders who do not wish to hold shares in the Enlarged Group can seek to sell their shares in the market ahead of the Scheme becoming Effective. This summary should be read in conjunction with the full text of the following announcement including the Appendices to this announcement. The Conditions and certain further terms of the Acquisition are set out in Appendix I to this announcement. Appendix II contains details of the irrevocable undertakings given to Vanoil and Fluormin. Appendix III sets out the sources and bases of certain financial and other information contained in this announcement. Appendix IV contains the definitions of certain terms used in this announcement. Contact Information: Vanoil Energy Ltd +1 604 689 1515, Malcom Burke / Don Padgett +44 (0) 20 7034 Fluormin plc 7150, Mark Bolton, Chief Executive Officer Westhouse Securities (financial adviser, nominated adviser +44 (0) 20 7601 & broker to Fluormin) 6100, Martin Davison Paul Gillam Jonathan Haines Expected timetable of principal events Event Time and/or date(1) 2013 Scheme Document posted to Shareholders 28 March Latest time for receipt of Blue Form of 11.00 a.m. on 15 April(2) Proxy (or appointing proxies via CREST) for the Court Meeting Latest time for receipt of White Form of 11.10 a.m. on 15 April Proxy (or appointing proxies via CREST) for the General Meeting Scheme Voting Record Time 6.00 p.m. on 15 April(3) Court Meeting 11.00 a.m. on 17 April General Meeting 11.10 a.m. on 17 April(4) The following dates are subject to change; please see note (5) below Last day of dealings in, and for registration 16 May of transfers of, Fluormin Shares Scheme Record Time 6.00 p.m. on 16 May Suspension of Fluormin Shares from trading 7.30 a.m. on 17 May on AIM Court Hearing to sanction the Scheme 17 May Effective Date of the Scheme 17 May New Vanoil Shares and New Vanoil Warrants 20 May issued Cancellation of Fluormin Shares from trading 7.30 a.m. on 20 May on AIM New Vanoil Shares listed on the TSX-V by 8.00 a.m. (EST) on 20 May Commencement of dealings in New Vanoil by 8.00 (EST) a.m. Shares on the TSX-V on 20 May Vanoil DCIs credited to CREST accounts By 8.00 (EST) a.m. (in respect of Scheme Shares held in uncertificated on 21 May form only) Latest date for despatch of statements 31 May of entitlement in respect of the New Vanoil Shares and warrant certificates in respect of the New Vanoil Warrants by |
Posted at 17/3/2013 22:10 by dreggspicker Question is..................Lets hope the share price does not get this in the morning............. Sorry all, I am just playing with photobucket......... Sweet dreams all..... |
Posted at 17/3/2013 16:12 by dropside Dreggs, yes it is a good del for Vanoil which should drag us up. Looks like they value FLOR at $27m (£18m) and have based their payment on 60c a VEL share. Seems they will sell the FLOR assets.. Based upon independent valuations, the Vanoil Directors expect that aggregate cash reserves in the order of US$27 million can be realised from Fluormin's existing accounts and receivables and from the subsequent realization of Fluormin's assets. Pursuant to a loan agreement entered into today between Fluormin's wholly owned subsidiary, Kenya Fluormin (BVI) Holdings Limited ("KFH") and Vanoil, KFH has agreed to advance to Vanoil US$5 million (further details of which are set out below). The loan, once advanced, provides immediate cash for Vanoil to proceed with its ambitious drilling and seismic programmes. Under the terms of the Acquisition, Fluormin is valued at US$27 million. In consideration for the purchase of the entire issued and to be issued share capital of Fluormin, Vanoil will issue an aggregate of: 45,000,000 Vanoil Shares, based upon a price of US$0.60 per Vanoil Share; 31,973,667 CAN$1.00 Warrants, entitling the holder to subscribe for one Vanoil Share at any time during the two year period immediately following the Acquisition; and 6,500,000 CAN$0.75 Warrants, entitling the holder to subscribe for one Vanoil Share at any time prior to 13 March 2014. The advantage VEL have now is they are cashed up for maybe 5-6 deep ($19m- see map) wells if they JV them and retain 25%. I think the warrants could be quite valuable personally. |
Posted at 16/3/2013 00:00 by bam bam rubble I'm not sure we should credit FLOR execs when Firebird and J Passin have instigated this. Oil & gas is a departure from Firebird's contrarian investment strategy with fluorspar so from a strategic viewpoint it's disappointing. In terms of shareholder value FLOR relisted a year and a half ago at 105p and is being merged into another stock -75% below that price (and some -95% below its previous IPO as Maghreb Minerals plc) |
Posted at 15/3/2013 20:56 by bam bam rubble Based on the two week average price of 40c its almost a share-exchange at parity10,000 FLOR shares (£2,100 if bought at 21p) =8,060 VanOil shares (£2,100 worth@40c) +1,160 warrants exercisable@75c As VanOil has risen strongly this week, up 40% (pumped to help get this deal away perhaps) looks like it will go through at a premium. However I would expect the post-merger company to see poor share price performance (most do post-merger), say ending the year at 20c, equivalent to 10.5p FLOR |
Posted at 15/3/2013 19:13 by cyprussteve I have just found this link - what do you reckon this values the Company at in sensible terms come Monday morning ?Extract below - " Fluorspar miner Fluormin (LON:FLOR) has been in talks with Vanoil Energy (TSX-V:VEL) for some time over the terms of a bid by the latter for the former, and on Friday the Canadian company laid its cards on the table. Provided it can get the agreement of the independent directors of Fluormin, it intends to launch a US$27mln offer for the UK company on the basis of 0.806 new Vanoil shares plus 0.572 C$1 warrants and 0.116 C$0.75 warrants for every Fluormin share held. The C$1 warrants will entitle the holder to subscribe for one Vanoil share at any time during the two year period following the acquisition, while the C$0.75 warrants will also entitle the holder to subscribe for one Vanoil share any time prior to 13 March, 2014." Current market cap of FLOR according to advfn is £23m. If I am understanding it correctly, it also gives FLOR shareholders the opportunity for warrants - which would be beneficial IF Vanoil performs well. |
Posted at 15/3/2013 18:53 by cyprussteve LATE RNS TODAY -I haven't worked out - ( or been bothered to ) - the actual share price value now ascribed to FLOR - estimates will be interesting. I can't find anything relevant at present on either Company's website, nor can I anything relating to this apart fropm the RNS issued late today by FLOR - am I being thick, or getting confused, or, have they simply not updated their websites ? |
Posted at 10/1/2012 15:22 by howdlep pisces4,The share price was very strong yesterday on what appeared to be lowish volume. Yes the free float is low and it is therefore very difficult to buy any line of stock > than the normal market size (NMS), but the mm's were moving up the share price on nearly every buy. My impression during the day was that a buy order was being worked through the system. However, the 50k trade was reported before the bell today, with a time of around 4.25pm, so it was either filled (worked) during the course of the day or the buyer got the price shown when the trade was requested. Either way, I feel it was a buy as the 50k had no impact on the share price if it was a sell. Trades are delayed by one hour, sometimes, two hours, when the qty is 6 x the NMS. See Sometimes a market maker will part fill a buy order and quote you a price, but then will fill the rest of it over the day. When that is offered to you, they are short of stock and you have a really good idea that the share price is really going to move north. Hope that helps a little. I am sure dreggs will add to what I have said. |
Posted at 03/11/2011 16:22 by susiebe How is current the FLOR share price comparing with MMS old sp??tia |
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