Afentra Share Discussion Threads

[dillydally2] 10/8/2022 10:17

It's now being ripped apart

[stockhunters] 10/8/2022 10:05

happy to admit thought this would relist 40-50p

[dillydally2] 10/8/2022 09:47

Never ceases to amaze me how the mms allow some dogs to rise and rise based on hypeBut when a company actually delivers they hold down the price when actually it should be closer to 80p based on the valuation of reserves and bopd output

[zxie] 10/8/2022 09:28

Week 7 now next update soon mate

[palisz] 10/8/2022 09:20

Amended Director share award with the full and corrected info out... looks better!

[mally6] 10/8/2022 09:02

Zxie you've been saying that for all of last year they still haven't jumped time to accept the truth insp is a dead dog

[zxie] 10/8/2022 08:56

INSP shares jump soon

[stockhunters] 10/8/2022 08:39

maybe you will get your entry but be quick

have a good day

[ashkv] 10/8/2022 08:33

Stockhunters - would your feedback re the below which I am reposting ->

REPOST

My back of the envelope valuation of Enterprise Value per barrel for AET's Angola acquisition

Please advise if I am on the right track? And if any figures are incorrect - on the face of it would appear that AET at 26p is not a cheap share given it is Angola and comparable valuations of GKP, GENL, PHAR, TRIN etc

Share Price - AET: 26
Brent: $95.00
Shares Outstanding: 220,053,520
Market Cap (GBP): £57,213,915
GBPUSD: 1.225
Market Cap (USD): $70,087,046
Production H1 2022: 4,700
Cash (YE 2021 Per Annual Report): $37,727,000
Cash Outlay For Equity Component of Acquisitions: $20,700,000
Debt (Post Acquisition): $75,000,000
Enterprise Value (Market Cap + $75m Debt + Equity - Cash at YE 22) (USD): $128,060,046
EV/Barrel (H1 2022 Production Average): $27,247

I have used the figures from the presentation link from today's Relisting RNS and cash at Year End 2021 per Annual Report.

Have not included additional RBL debt that is available - though could have been drawn.

[officerdigby] 10/8/2022 08:32

At least AA had a cap ($25m pp) and practically no salary.. what's these guys salary.?

[stockhunters] 10/8/2022 08:26

15% total if they deliver exceptional shareholder returns

[ashkv] 10/8/2022 08:25

Stockhunters - Thanks for the heads up thought Andrew Austin has made Kistos a powerhouse firm but no such dodgy Mega Nil Cost Share Options...

Thanks for pointing to the document - good to read that max dilution to shareholding is 15%

6.1.4 Conversion of Founders Plan awards into Nil Cost Options
6.1.4.1 On each of 16 March 2024, 16 March 2025 and 16 March 2026 (the
“First”, “Second” and “Third Measurement Dates” respectively, and each a
“Measurement Date”), Founders Plan Awards will convert into Nil Cost
Options over Ordinary Shares. The number of Ordinary Shares under any
Nil Cost Option into which a Founders Plan Awards will convert will be
determined by the Remuneration Committee on the following basis:
* STEP 1: The Remuneration Committee will calculate the average of
the closing middle market quotation of an Ordinary Share over the
30-day period ending immediately prior to the relevant Measurement
Date (excluding any days when any dealing restrictions apply) plus
dividends paid over the Plan Period to date (the “Measurement
Total Shareholder Return”).
* STEP 2: The Founders Plan Award shall only convert into a Nil
Cost Option if the Measurement Total Shareholder Return for the
relevant Measurement Date is greater than or equal to the
“ThresholdR21;. The Threshold is an amount equal to the average
closing price of an Ordinary Share over the 30-day period ending
immediately before the start of the Plan Period (the “Initial Price”),
multiplied by:
○ in respect of the First Measurement Date, 25.99% per
annum (compounded);
○ in respect of the Second Measurement Date, 18.92% per
annum (compounded); and
○ in respect of the Third Measurement Date, 14.87% per
annum (compounded);
* STEP 3: If the Threshold is met, the Remuneration Committee will
determine the overall proportion of the Measurement Total
Shareholder Return which is to be delivered to all participants in the
Founders Plan (the “Total Allocation”) on the following basis:
○ the Initial Price shall be deducted from the Measurement
Total Shareholder Return for the relevant Measurement Date
(or, in the case of the Second and Third Measurement
Dates, the highest previous Measurement Total Shareholder
Return which resulted in a conversion of a Founders Plan
Award into a Nil Cost Option shall be deducted from the
Measurement Total Shareholder Return amount for the
relevant Measurement Date); and
○ such amount shall be multiplied by 15%.
* STEP 4: Each individual participant’s share of the Total Allocation
(as determined in accordance with Step 3) will be determined by
multiplying the Total Allocation by that participant’s individual
allocation (expressed as a percentage share) of the Total Allocation.
Each participant’s individual allocation of the Total Allocation will be
determined by the Remuneration Committee when their Founders
Plan Award is first granted.
* STEP 5: Each participant will be granted a Nil Cost Option over
such number of Ordinary Shares as is equal to the value of their
share of the Total Allocation.
92
c119579pu050 Proof 5: 9.8.22_23:55 B/L Revision: 0 Operator FroI
6.1.4.2 If any Ordinary Shares are issued by the Company in connection with an
acquisition, investment or other transaction made by the Group which is
funded in whole or in part by the issue of new shares in the capital of the
Company, the Grantor may determine that each participant shall be entitled
to receive additional Founder Plan Awards in proportion to the number of
new Ordinary Shares issued as part of that acquisition, investment or
transaction (“New Equity Awards”). The Threshold for any new Equity
Awards is the price per Ordinary Share at which any new shares were
issued as part of the relevant acquisition, investment or transaction.
6.1.5 Overall limits
6.1.5.1 No Nil Cost Option may be granted if the number of Ordinary Shares over
which all Nil Cost Options have been granted:
* would exceed 10% of the issued ordinary share capital of the
Company at that time; and
* when aggregated with any options or awards over Ordinary Shares
granted in the preceding 10 year period under any other employees’
share scheme operated by any member of the Group, would cause
the number of new Ordinary Shares which are capable of being
issued in satisfaction of such options or awards or any Nil Cost
Options to exceed 15% of the issued ordinary share capital of the
Company from time to time.

[stockhunters] 10/8/2022 08:24

ashkv you are not looking at the admission document

[palisz] 10/8/2022 08:21

thanks ashkv... helpful.

[ashkv] 10/8/2022 08:19

This self dealing insane - I am surprised the shares are not falling... WOW STAGGERING STUFF

WOW WOW WOW

SELL AET.....


CEO Nil Cost Options -> Such number of shares as equals 41.5% of the value created above a starting share price of £0.15 if a hurdle price of £0.30 is met up to a maximum calculated by reference to the issued share capital at time of grant

CFO NIl Cost Options -> Such number of shares as equals 27.5% of the value created above a starting share price of £0.15 if a hurdle price of £0.30 is met up to a maximum calculated by reference to the issued share capital at time of grant

COO Nil Cost Options -> Such number of shares as equals 31.0% of the value created above a starting share price of £0.15 if a hurdle price of £0.30 is met up to a maximum calculated by reference to the issued share capital at time of grant

[palisz] 10/8/2022 08:17

Opens 26.2p +80%.. I'm no analyst, but looks very low to me.
MM's trying to get the cheap forced sellers who've been waiting 9 months to sell, deceased estates, etc.. ?? Prob wrong, but not selling anywhere near this area.

[ashkv] 10/8/2022 08:14

My back of the envelope valuation of Enterprise Value per barrel for AET's Angola acquisition

Please advise if I am on the right track? And if any figures are incorrect - on the face of it would appear that AET at 26p is not a cheap share given it is Angola and comparable valuations of GKP, GENL, PHAR, TRIN etc

Share Price - AET: 26p
Brent: $95.00
Shares Outstanding: 220,053,520
Market Cap (GBP): £57,213,915
GBPUSD: 1.225
Market Cap (USD): $70,087,046
Production H1 2022: 4,700
Cash (YE 2021 Per Annual Report): $37,727,000
Cash Outlay For Equity Component of Acquisitions: $20,700,000
Debt (Post Acquisition): $75,000,000
Enterprise Value (Market Cap + $75m Debt + Equity - Cash at YE 22) (USD): $128,060,046
EV/Barrel (H1 2022 Production Average): $27,247

I have used the figures from the presentation link from today's Relisting RNS and cash at Year End 2021 per Annual Report.

Have not included additional RBL debt that is available - though could have been drawn.

[dillydally2] 10/8/2022 07:45

Must be some folks who will be selling at whatever price at the bellWouldn't be chasing this at 8am as the mms will likely spike people badly

[palisz] 10/8/2022 07:33

Such number of shares as equals 100% (split between the 3 directors) of the value created above a starting share price of £0.15 if a hurdle price of £0.30 is met up to a maximum calculated by reference to the issued share capital at time of grant

[spooky] 10/8/2022 07:30

Think its 15% of the growth over 5 years as long as the shares double but don't quote me on that.