Investment Evolution Cre... Share Discussion Threads

[madjock2] 29/12/2008 10:06

can anyone please confirm my earlier query re share crazy. does your account confirm one way or the other that the shares have been assented?

[madjock2] 29/12/2008 10:03

i think with some of the "leaked" reports over the last two months they have already tarnished their reputation beyond repair

[shiny1000] 29/12/2008 09:47

The Indian government and ONGC will not renegade on this deal, this isn't the purchase of imperial energy but the integrity and honour of Indian business. The $2.5 billion purchase will have far reaching implications and if India want to be a global player then they must go thru with this, if they don't then who will trust them in the future.

[debbiegee] 29/12/2008 09:35

DB only long ?
All shorts closed ?

[madjock2] 29/12/2008 09:34

sharecrazy don't show any indication that the shares are assented.Does anyone tell a different tale from their sharecrazy account?

[togglebrush] 29/12/2008 09:29

Barclays now show my shares as IECA @ 1020 whilst IEC are at 1083. Difference between Assented and normal shares !

[debbiegee] 29/12/2008 09:16

Lots going on in the background,hardly any trades showing !

[imperial3] 29/12/2008 08:53

The share price says it all.

[stuart14] 29/12/2008 08:50

Damn right

[debbiegee] 29/12/2008 08:45

morning all,lots of cfd shorts to close [which dont effect the vote]
Certainly looks like we are getting ready for fireworks !!!
It would be a great start to New Year for us !!!

[madjock2] 29/12/2008 08:42

Well it's got to start sometime eh! Stuart

[stuart14] 29/12/2008 08:33

Hi guys. Looks btter today eh!

[imperial3] 29/12/2008 08:16

Getting closer.

[madjock2] 29/12/2008 08:06

moving now

[shiny1000] 29/12/2008 08:04

It will be much higher by end of day.

[madjock2] 29/12/2008 08:02

needs to be higher than this

[cliffyburger] 28/12/2008 22:14

The FT article:

ONGC nears bid approval target for Imperial
By Philip Stafford in London and Joe Leahy in Mumbai

Published: December 28 2008 18:34 | Last updated: December 28 2008 18:34

Imperial Energy is closing in on the 90 per cent level of acceptances it needs to seal its takeover by ONGC Videsh, part of the state-owned Indian oil company, as a key deadline approaches.

The deal is the first attempt by ONGC to buy a London-listed company.

Shareholders have until 1pm London time on Monday to accept ONGC's £12.50-a-share offer for Imperial, an energy explorer with most of its assets in Russia.

Imperial has received a flurry of acceptances from shareholders in the past few days in spite of the Christmas holiday, and expects to receive more today, the final full business day available.

The deal values the UK group at about £1.3bn. However, rumours have persisted that ONGC had been looking to withdraw from its original offer.

The price of crude oil has dropped by more than two-thirds from $128 a barrel when the approach was made in August and this month ONGC failed in a bid to delay making an official offer.

Under Takeover Panel rules, ONGC was not allowed to withdraw or reduce its bid. However, if it fails to breach the 90 per cent threshold, it would be able to walk away.

The fears have been enough for Imperial's share price to trade at a discount of more than 20 per cent to OCNG's offer. Imperial's closing share price on December 24 was £10.20.

"Our position has not changed. We are well aware of our obligation to capital markets and shareholders," a spokesperson for ONGC said. ONGC has had a reputation for failing to act swiftly enough to seal takeover deals, because it is under close political scrutiny.

However, analysts warn it will be next to impossible for the Indian government to back out without putting at risk the Indian government's reputation as a business partner.

India's oil minister Murli Deora lobbied extensively with the Russian government to get the deal through and would be reluctant to put a relationship with one of the world's greatest oil producers at risk by reneging.

India is desperate to find more oil and gas domestically or to secure its own resources offshore to curb its dependence on the global market.

ONGC is buying Imperial for its potential growth. It has probable and possible reserves of 3.4bn barrels of oil equivalent and is planning to lift production to 80,000 barrels a day by 2011.

Copyright The Financial Times Limited 2008

[stuart14] 28/12/2008 22:13

Sounds good. I didn't think the last day was tomorrow though?

[imperial3] 28/12/2008 21:02

niceyman 1.
Could you post that article please.Thanks.

[niceyman1] 28/12/2008 20:50

INTERESTING ARTICLE JUST OUT ON FT.COM SAYING THAT THERE CLOSING IN ON 90%.COULD SEE A DECENT RISE TOMORROW!

[blue hair] 28/12/2008 16:45

Does anyone know the positives and/or the negatives to buying a s/b rather than aquiring outright stock in this one for the possible 1 1/2 days we have left?? Other than sheer madness I do not see why any current holder would not take the offer being made to them and walk away.

Regards,

Bluehair.

[squintyflinty] 28/12/2008 10:03

There are no excuses for shareholders not to tender their shares within this time frame.Shares tendered on 23rd and the 24th would not have been added to the melting pot,as yet, but will be added on the 29th Dec by Capita. If this then crosses the 90% then expect an announcement before the end of the tading day. Also,Jarvis investments are submitting votes on behalf of their clients as well as a few other ivestment companies . I'm expecting the final vote to be well in excess of the90%. Analysts are saying that ONGC are paying too much for IEC since oil has retreated to 40$ pb.If oil kept at this level for the next 2 or 3 years ,I would have to agree with them.The reality check is that it won't stay at this level,and we should see oil being traded between 80$ and 100$ within this time frame.This is when IEC have targeted 80,000 b.o.p.d.Thereofore, ONGC are not paying too much for this company.If they did feel that they were, then they should have been purchasing the shares at the £9.60 to 10.50 level ,and saving themselves an absolute fortune. NO Excuses ONGC!!!