Pan Euro Share Discussion Threads

[ashthorpedo] 01/4/2014 14:18

21 June 2013 RNS Final Accounts Y/E 31 December 2012.
Last paragraph under Rosbunker heading.
Simon Escott "The Directors are confident that any of these options will ensure cash flow is returned to the Group by 1 April 2014 at the latest."

[pantastic] 01/4/2014 13:05

I must have missed the announcement that the deadline was 1st April. My notes just say "April". Do you have a link to the document suggesting the 1st?

[ashthorpedo] 01/4/2014 12:47

Just had a thought regarding the self imposed deadline of 1 April by Simon for resolution of Rosbunker. SURPRISE APRIL FOOLS DAY!

[m_b2] 21/3/2014 08:53

Because their assets are effectively frozen aswell. No good having cash if you cant do anything with it.

[silax] 20/3/2014 20:21

Thanks M_B2.. Very helpful insight...

Interested as to why the incumbents are now happy to sell their interest if Rosbunker is as profitable as it appears...?

[katkel12] 20/3/2014 20:21

M_B2

Thanks for that. If your not doing anything at the weekend could you pop around and help my Daughter with her Algebra !!!!

Thanks once again

Yours

IAN

[m_b2] 20/3/2014 08:00

A 3rd party will buy the other partners 50%. We will buy a % of that 50% from the partner to give us overall control.

So currently we have 'X' and us owning Rosbunker. 'Z' will buy the 50% owned by 'X' meaning that Z will then have the 50%. We will then buy....say 5% from Z to have 55% and overall control. This is what the 'back to back' sale refers to. This is also why we don't need to raise additional funding.

Hope that makes sense.

...the weakness in the share price is because investors are staying away until this is resolved + the UkraineRussiaCrimea issue.

[silverlandfinance] 19/3/2014 23:01

A legal set up cannot be a third party. A third party is a partner different from PAN and the other 50% partner. That's how I read it.

[silverlandfinance] 19/3/2014 22:40

I don't agree.
The existing partners want to sell their 50% of Rosbunker. PAN has agreed to buy it back but "would expect to involve a local third party through a back-to-back sale and purchase agreement." This is why , if you read the RNS, PAN does not foresee the need for additional financing in order to complete the acquisition. In other words, PAN buys and on-sells to a third local party.

[thorne3] 19/3/2014 17:45

I think you've got this wrong,PAN is the party buying out the 50% holding from its existing partner.There is no third party.

[silverlandfinance] 19/3/2014 16:11

Could it be that the recent weakness in the share price is due to the weakness in the rouble which in turn affected the local third party's ability to purchase 50% of Rosbunker from the existing partners?

[smokyjoe] 06/3/2014 13:08

p.s. return some of that cash to shareholders by way of a divi please !

[cjohn] 06/3/2014 09:32

Sell Rosbunker. Then sell Baltic Top. There will always be significant political risk in operating in Russia, a country without well-founded property rights.

[cyfran101] 06/3/2014 01:18

Looks like a bigger Russian discount is being applied.

Rosbunker has been the ball & chain for sometime now, maybe the "currently in advanced discussions on one project" will be the next catalyst for upwards trajectory.

[mark1000] 03/3/2014 02:41

Oli I suggest everything will be on hold pending the Ukraine fall out.

[oli12] 01/3/2014 14:47

From this weeks much needed and overdue positive update -

The Company announces that it has received an offer from its partners in Rosbunker, for the Company to acquire the remaining 50% of the asset. The Board is considering this offer and will update shareholders as and when a binding contract has been agreed. Until this time, the asset will remain frozen under a legal order.

The amount of time and effort that the Company has put into resolving the issues at Rosbunker cannot be underestimated, however the Board remains conscious of the political and geographical risks involved in such a location as Rosbunker and it is taking steps to mitigate these to the extent possible. Whilst this can extend the time to complete any transaction, it is an essential part of the process after the historical problems.

Should this transaction progress to conclusion, the Company would expect to involve a local third party through back-to-back sale and purchase agreements, and at this time, the Company does not foresee the need for additional financing and/or financial support secured on assets outside of Rosbunker or in the form of equity, in order to complete the acquisition.

I assume the time scales previously stated i.e. April 2014 still apply for this to be sorted so news could arrive at any moment.

[hardcore ninja] 26/2/2014 21:18

Thanks loob, apols for silly question, just trying to get my head round this co.

[loobrush] 26/2/2014 21:16

The whole of PAN.

[hardcore ninja] 26/2/2014 20:54

Hi all, been watching this one recently, can anyone of you knowledgable holders tell me was the 22p per share offer that belphar made in nov to buy pans half of rosbunker or was it to buy the whole of pan?
Thanks, ninja

[loobrush] 26/2/2014 20:27

A few buys an up she goes as its should.

To be realistic here the price today should be a minimum of 22p which was the Belphar bid price last year that was turned down.

The company obviously now is in a much better position with the potential Rosbunker resolution and should have a share price higher than the Belphar bid price , in my view a minimum of 25 p.

And lets not forget Belphar stil have something like a 28% shareholding. maybe Belphar are involved in the Rosbunker deal ?

So a lot of risks now removed -some remain however the share price has yet to catch up with events in what could turn out to be a very rewarding situation.
My opinion is that the share is cheap and a buy if you do not hold.
Not that many in free float so will move fast on news.

[aaainvestment] 26/2/2014 14:22

We seem to be moving a little now, fingers crossed, perhaps there is new interest not just the regulars tucking a few more away. I live in hope, dare we even wish for a new institutional investor - we've had some right slimy examples in the past and still no interest from Warren B. lol

[cjohn] 26/2/2014 12:30

That's fine, AAA. That's a good thought. I'll try to remember that angle from now on.

(PS I never mind having my views criticised. I've learnt a lot in this way, both on BBs and in life)

[aaainvestment] 26/2/2014 12:17

I agree totally with your comments and was aware that you and other longstanding posters understood all of the intricacies/risks of doing business in Russia.

I often query comment to take an opportunity to expand and clarify things for any newbies/visitors that might not be aware of the whole picture and never post, that was my purpose, not criticising.