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Wham Energy Share Discussion Threads
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|Err DVW have had a gold explorer* disclose an interest. May just be a formality but the Dee Valley area is known to have been mined and produced gold. Offer looks far too cheap IMHO.
*El Oro Exploration (ELX)|
|DVW subject to a "recommended" takeover offer which seems too low. Were a UTL (F and C SUIT holding some years ago). May be a low risk opportunity to enjoy any offer revision upwards or the emergence of a counter offe.|
|TRC (Held by QVT, Weiss, Lars and others) entering agreement to do something...
|Weissincrease VNI holding to 20.08%
|Praipus - on Italian stuff am researching and will post when I am done...|
|Thanks rjmahan, are you going to invest if so how?|
May be of interest....|
Debentures are just bonds, they dont have any other rights. They are not called non voting shares as they are debt.
Its really nothing to worry about you have £100m assets 10m debentures paying a coupon of whatever percent per year.
If theycant pay the debt in theory the debentures could liquidate the co as they are ahead of the equity. In reality with BTEMs gearing this wont happen...
Yes BTEM look a bit expensive now.|
|PEQ subject to a takeover offer at £1.67, 20% discount seems a bit low....
|Thanks Norbert Colon
Richard Griffiths CMS holding now 16.48% (includes 1.24% CFD)
|It was the Debenture's that worried me a little, then a lot when the management company didn't know what I was talking about or that they had a debenture class of share.
I assume the Debenture rank before the stock in a liquidation?
The AR said they do not have any voting rights. Do Debenture holders have any other specific rights?
Why not call them non voting shares? Why Debentures?
I think there is much better value and upside elsewhere at the moment UTL for example when considering Brexit and related global risks.|
|Richard Griffiths adding to Communisis £CMS again - now holds 16%|
|Hi Praipus - structure I see is:
(P33 report here:hxxp://www.british-empire.co.uk/content/uploads/2015/11/British-Empire-AR-20151.pdf)
At 30 September 2015, there were 160,014,089 (2014: 160,014,089)
Ordinary Shares of 10p each in issue, of which 25,750,878 (2014:
16,419,217) were held in treasury and therefore the total voting rights
attaching to Ordinary Shares in issue were 134,263,21
At 30 September 2015, there was in issue £15,000,000
(2014: £15,000,000) 8 1/8 % Debenture Stock 2023, repayable on 2 July 2023.
This is just gearing It isn't anything to worry about...
They used to have index stock - but these look to have been redeemed in 2013...
Mentioned on website but its just a typo...
Any other classes of share would be on balance sheet as a liability.
No options mentioned in report, no warrants.
I'm afraid I don't see anything... Must be very well hidden....|
|Sorry for delayed response. Im being obstructive here on purpose and because I can't understand why you haven't seen the same issue I have. Possibly it's not an issue at all.
I thought it was an opportunity at one time but the company or those who answer the phone for the management company where so ignorant of their share structure it scared me off.
What classes of share and debt and ownership make up the capital structure and are there any classes of share which would not be considered part of the capital structure?|
Not sure what you mean about BTEM - only oddity I can see is 16% of issue in treasury not cancelled and a charge to redeem debt - but its only £4m.
Was that what you referring to ?
Please tell me - its the only way I will learn :-)|
|Damille DIL2 Buying more KGLD now holding over 14%
|Weiss increasing ACD having looked like they had got out in Feb 2015. Now holding 5.02%
|thanks rjmahan BTEM share structure isn't what it seems look carefully IMHO.|
|Elliott buying BTEM
|Missed that on thanks mrx9000
|Praipys: Slater just gone over 3% holding in QP.|
|This is true but the tji rns does say there will be a return of capital (or words to that effect. Its higher risk than the but higher return too...
I have a bit of pol at 50%+ loss, I should probably look at it again, it might deserve additional investment.|