Sibir Energy Share Discussion Threads

[willessa] 26/5/2009 11:37

Had it confirmed that I will be able to participate this time (obviously frustrated about not being able to on the previous 2 occassions). So am very happy.

What I will be doing though, is not accepting day 1 just in case a counter offer come along in the 21 days. Clearly I will accept £5 - but you never know TNK-BP or Rosneft may come back.

[thumper1] 26/5/2009 11:34

same here, been looking at my past trades from 18 pence before the 10 for1 and after, sbe has been good for me will miss it but still never mind. davron are you still in sey .

[ctopchris] 26/5/2009 09:31

WAit a minute I can't see the problem here you've got three weeks to accept or hope another better offer comes in see below. All good news



* In the event of any third party making a rival offer at a price higher than the
Offer Price, the Company has undertaken to procure that the Directors do not
recommend such offer for a period of five business days, during which time
Gazprom Neft shall have the right to match such third party offer, and the
Company has further undertaken to procure that the Directors favourably
recommend any such matching offer from Gazprom Neft.

[cleantrader] 26/5/2009 09:21

Not the worst result. Still the standard Russian screw-over though. Think very very carefully about ever putting your money in a Russian company.

[davidwilkin] 26/5/2009 09:14

well done willessa, faith in the markets restored, yeeeehaaaaaaaa !!!

[willessa] 26/5/2009 09:10

Well when these were suspended in February - I was hoping that I would at least get £1, things were that bad.

To get a fiver now is a £60,000 windfall as far as I am concerned and am delighted. I will be accepting - no way will I risk a potential 20% for all that uncertainty.

Pity COCO sold out - ahh never mind.

[bohemia] 26/5/2009 09:00

yes david, the offer will be a formal corporate action so don't take any excuses that it's not standard processing for them. But it won't be formalised until the 28th so give them time - you'll then have 21 days to get the paperwork done.

[tartan_penguin2] 26/5/2009 08:44

david

i would think a corporate action will be seen on the iii website once they get all the details which will mean you can accept online.

[davidwilkin] 26/5/2009 08:36

what do we do now then, im in a nomineee account with iii abd desperate to accept the offer. do i ring them and hurry the document along, i mean i would anyway, any extra advice would be great. DW

[squintyflinty] 26/5/2009 08:26

Correct 1nf3rn0.

[gatdecor] 26/5/2009 08:13

I agree Bohemia, if we don't take the offer they could offer those who did not sell at this price any amount ie £2.00 and we would have no choice!, and after speaking with JP I doubt this company will be relisted, so even less choice! do you want to try and deal with the Russians!!
£5.00 really is a lot less the the company is worth but I fear it is the only choice if you want your money back.

[1nf3rn0] 26/5/2009 08:07

"offer expires 5pm on May 28th"

I don't think so, sounds like we'll have our offer docs by then and the expiry date is 21 days from that date

[bohemia] 26/5/2009 08:04

Be careful JPGH. I'm angry that I'll probably have to accept 500p, but it looks like the shares are headed for delisting, and by the time Gazpromneft pay a full price for one of the big holder's stakes this company won't be listed, covered by UK law, or have a mandatory offer rule I guess.

I'm afraid all the big shareholders will be aligned on screwing us. B@stards

[gatdecor] 26/5/2009 08:00

well well Gazprom are now offering everyone £5.00 to take over the company!!

[bomfin] 26/5/2009 07:46

gl to all holders. Will be delighted if you get pay out.

[jpgh] 26/5/2009 07:43

So, 500p offer for SBE shares belonging to minority shareholders, offer expires 5pm on May 28th and excludes all offers for City of Moscow and Bennfield held shares.
Also I see in the detail that SBE have announced that no more will happen until Aug 2009 (i.e. I tak ethis as effectively no relisting, no more offers ..etc i.e. what thay are saying to PI's is to sell now to Gazprom or you'll get nothing until minimum Aug 2009.
This is surely as good as handing a gun to PI's who need cash now or who might be anxious to cash in their shares.
I am holding out until next round as when Gazpromneft exceed the 500p then they will have to bid. >600p is what I am looking at.

JPGH

[kannerwas] 26/5/2009 07:21

calloo callay! oh frabjous day!

[squintyflinty] 25/5/2009 12:38

They'll get all those costs back when they win the case,as surely they will. Also Gazprom sees great potential in SBE,that is why they are building their stake.

[topinfo] 24/5/2009 23:42

What's the difference between Newcastle United and Alan Shearer?




Alan Shearer will still be on Match Of The Day next season.....

[relko] 24/5/2009 21:56

According to Mail on Sunday:

SBE expected to unveil [exceptional] legal costs of £63m on Thursday.

[dougie471] 24/5/2009 19:10

an injunction was plaised on Basiarov;s shares on Thursday so although he has approached gazprom to sell he cannot at this time.

[yf23_1] 24/5/2009 00:45

Gazpromneft don't want more than 30% ????

eh ?

I thought they already had 17% and with Baisarov's 23.5% won't they have over 40% ?
If you ask me they are trying on the sly to get 50% so they get control.

23.5% Bennfield - Igor Kesaev
23.5% Baisarov
17.0% Gazpromneft
18.0% CFC
7.0% Institutions
11.0% PIs