||'A' ORD 0.01P
||EPS - Basic
||Market Cap (m)
|Technology Hardware & Equipment
Real-Time news about Sarantel A (London Stock Exchange): 0 recent articles
|lonrho: no you're not but its just a matter of waiting now, share price is being held in a tight range and it will probably need breagh to confirm production at anticipated levels before there is any material improvement.|
|lonrho: Well on the plus side Breagh production is now forecast at levels way ahead of previous estimates and if correct should give sterling £100 million a year of cash flow, at least initially before tax and depletion kick in. The rise in share price from 68 cent low to a 79 cent close shows somebody thinks they know something positive. I doubt that sterling have currently enough money to see Breagh through to production as the date is likely to slip again. The exxon $29 million dollars due in may will largely go to reduce the bank facility by £15 million.They have been screwed by the banks ,by RWE and by their own incompetence.It is unlikely that the major shareholders will let this go bust but with the independent valuation due any day a revised offer by Vitol of a dollar or more may be enough to secure shareholder support.|
|plunge: Taken from the latest 2012 report & accounts:
"If a sale does proceed, the sale proceeds, after repayment of the Group's liabilities, including the outstanding HSBC loan facility in full, would be broadly in line with the current market value of the Group".
The share price was +/-0.25p on the last working day before this announcement. Therefore, does this imply the current share price of 0.20p is good for at least another 25% increase? I believe so, especially since its recent funding success and more to come.
Further, anyone buying now in the open market presumably qualifies for the discounted rights offer of 0.1p per share. I eagerly await the terms of this. Perhaps late comers to this Company will make some money.|
|plunge: Apart from Mortazavi and Hennigan taking advantage of the latest placing, it appears they have also been active in the open market. Between the two of them a further 18,774,844 shares have been acquired, that is over and above their previous holding disclosures.
Presumably these were bought after the release of the final results and by taking advantage of the consequent collapse in the share price. By my calculations, this equates to about 25% of the total shares traded between results day and 26 March.
Why this massive 'averaging down' over the previous prices they may have paid? Are they genuine long term investors or are they merely here to make a quick buck !!!|
|plunge: Yes - With all the uncertainty he and the Board have created in connection with the company's future, it is no wonder the share price has collapsed.
Let us spare a thought for SLG's staff. Presumably they are just as exasperated with management as are the suffering shareholders.|
|plunge: BroncoWarrior - the share price needs to reach 0.55p before Wither can exercise any of his options.
Whilst I very much hope it does regain this level (and much more) I also hope he is not around to take advantage of the situation.|
|broncowarrior: Presumably wither awarded himself a pay rise for the sterling job of share price destruction he oversaw this year?|
|buggy: I have to be honest here. I am one of the supporters of this company but the statement that they will rebase their past share option price to bring it in line with the placees is one of the moast bizare I have ever seen and smacks of a board that don't really understand the use of options.
Options has always been an incentive to try and align management's interest with that of the share holders ... a kind of performance bonus.
It is un-ethical to say that if management fails to perform.... for whatever reason,(... may not be their fault, may be because the expected Martian invation did not materialise: it does not matter), and we will readjust the strike price of options downwards????
More bizarely the adjustment of the option price downwards is to align it with the current placees??? .... If the managenment wants alignment with the current placees then they should take part in the placings and the shares acquired in the placings will be aligned to that of the placees.
From the placing results it appears that only one person within this management has any appreciable level of confidence in the company's prospects....no demostration of a clear support for their company or their own ability to turn it around. It then maybe is not such a surprise that they are more concerned with the strike price of an option which they have failed to meet.
When the options was initially given management felt it is a target which they could achieve ... now having failed to achieve a traget they set themselves ....we are to rebase the options???
I am sure a few investors bought on the basis of the management options. If a management gives themselves share option of 50p over 3 years, as an investor, that indirectly states the managements view that they expect the share price to be over 50p within 3 years.
Shall we also rebase the purchase price of those share holders that bought at the same time as the management took their option.
I am still considering my next move and may consider share holder voice/action in blocking such a move. Will consider sounding out the opinions of the major shareholders first....not something I would want to do, as I really do not have the time to invest in another active opposition of a management that seems to have become a law on itself.
I am a supporter of this tech but this statement has put some dent in my estimation of this management. They should at least be sensitive to shareholders who has supported them with their resource and faith by investing in the company. While most of these shareholders are carrying a hefty loss, the managements first priority seems to be about themselves by rebasing their share options price. Who will rebase the share holders' buying price to take into account the fact that they paid so much for the shares earlier?
Some will say it is the risk you have to bear in investing in shares ...shares can go up as well as down! Is that not also the same with share options? ..If shares goes up the management reaps the benefits ..no one will grudge them such....but if the share price goes down then the management is out of pocket by losing out on their option? I use the term out of pocketr loosely as they did not really pay any upfront cost in acquiring the options)
I have waited a while to consider the RNS before posting my thoughts. I may have missed something and being ungenerous to the management but as the RNS stands I do not see the rational for rebasing the past option price.
Any new options granted today will take into account the current share price but lowering the strike price of previous options because the management has failed to meet it's own target is unethical..... it smack of avarice and a totall disconnect with the share holders.
Missing your target option price will be a trigger to alert the management that they have not performed as expected and not a trigger to lower the strike price of an option.|
"Anybody can ascribe any reason to a stock movement - it's a classic human behaviour, retrospectively explaining moves, because there's no way to test the mechanism".
Do you have a reference for this please ("it's a classic human behaviour") as I would like to read a bit more about it?
"The SLG share price has fallen further today - most likely nothing to do with one analysts comments or another.
Just a bad day"
This looks suspiciously like a retrospective explanation of a share price movement to me.|
|bugsmoney: Anybody can ascribe any reason to a stock movement - it's a classic human behaviour, retrospectively explaining moves, because there's no way to test the mechanism.
It's vastly different from predicting moves. And nobody knows what the PoO of PoG will be tomorrow, certainly not next year. Just because someone makes a guess and gets it wrong hardly leaves someone's reputation in tatters.
The SLG share price has fallen further today - most likely nothing to do with one analysts comments or another.
Just a bad day
OTOH hand it's foolish to ignore negative or cautious views, dismissing them as wrong simply because one wishes the opposite to be true.|
Sarantel share price data is direct from the London Stock Exchange