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AMER

Amerisur Resources Plc

19.18
0.00 (0.0%)
Share Name Share Symbol Market Type Share ISIN Share Description
Amerisur Resources Plc LSE:AMER London Ordinary Share GB0032087826 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 19.18 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
19.18 19.20
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 19.18 GBX

Amerisur Resources (AMER) Latest News

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Amerisur Resources (AMER) Discussions and Chat

Amerisur Resources Forums and Chat

Date Time Title Posts
30/12/202211:54Amerisur25,931
10/6/202017:42A mid cap oil stock that makes money and will grow plus $GKP $LGO $TSCO1
01/11/201919:02Amerisur Thread - the one that welcomes any comment and not just blatant ramping48,044
28/3/201906:14Amerisur Resources7,578
13/2/201714:08Amerisur Resources - a new dawn24,240

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Amerisur Resources (AMER) Most Recent Trades

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Amerisur Resources (AMER) Top Chat Posts

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Posted at 21/6/2022 21:08 by parker2102
"Ecopetrol, GeoPark plunge after leftist wins Colombia's presidential election."

GPRK 12 month High $18.52 (early June), Low today ca. $12, but recovered to close at $13.05, dn (only) 4,74%.

Anyone from the old AMER guys in PANR?

Posted at 11/4/2021 18:39 by parker2102
Anyone in Pantheon, here?
Seems next few weeks should be interesting.
Not sure, but looks like RH -former major shareholder AMER who then switched into PANR - also no longer in PANR. No longer the Midas touch?

Posted at 05/11/2020 10:07 by parker2102
Thank you for your post, Tonyrelaxes. If I remember well, in "our" days we were happy with 4000 bopd.
I can sense your irony here, Norman. I didn't find it funny at all. Most disappointing investment experience in my professional life (over 50 years active in financial markets). Although I didn't lose any money, even after a drop of over 1/3 of £ vs. €, the return was very meagre. Certainly given the 15 years (approx.) it took to achieve this result.
The final outcome was a bitter disappointment, not only in financial terms. I felt mislead, if not cheated. One might wonder what JW and GC are up to at present.

Now in PANR - indeed, this is the company our then major shareholder switched into, from AMER. Selling AMER then was, in hindsight, a smart decision. His timing to buy PANR less so.

GLA

Posted at 30/9/2020 19:47 by moneylender
The end game is nigh!
Not my work but I do concur. EUA RNS today with little hints.

"DLA Piper on the legal side to work with the Company through the sale process."
A clear indication that the sale process has progressed well

"With the final approval of the Flanks license surrounding Monchetundra, the Company has been successful in establishing a dominant position"
Confirmation of how huge MN is and the strong negotiation position they now have.

" has spurred interest in the Company."
in other words, bidding war. The minirals, Rhodium, Palladium, Platinum, Nickel, Gold are all going up in price and are expected to go higher in the years to come.

"The board and executive team have now been restructured to fully focus on the sale process."
all focus on the inevitable - a FULL sale

" long-term supporters and new members."
Working for us as always.

We told you the BoD have a truck load of shares and have not sold a bean. The recent low prices were a gift from MMs.

If the share price does not go up tomorrow, good. It gives us a chance to carry on loading up at this levels. But i doubt it will after that RNS. A big blue tomorrow

Posted at 16/1/2020 14:01 by moneylender
Gone forever, the lights are out!

SCHEME OF ARRANGEMENT BECOMES EFFECTIVE

Further to the announcement by Amerisur and GeoPark on 14 January 2020, the boards of Amerisur and GeoPark are pleased to announce that, following the delivery of the Court Order to the Registrar of Companies, the scheme of arrangement under Part 26 of the Companies Act (the "Scheme") by which the recommended cash acquisition of Amerisur by GeoPark Colombia is being implemented has now become Effective in accordance with its terms as set out in the scheme document published by Amerisur on 28 November 2019 (the "Scheme Document"). All Amerisur Shares in issue at 6.00 p.m. on 15 January 2020 are subject to the Scheme.

Suspension and cancellation of trading of Amerisur Shares

Dealings in Amerisur Shares on AIM were suspended with effect from 7.30 a.m. today, 16 January 2020, and the admission to trading of Amerisur Shares on AIM will be cancelled with effect from 7.00 a.m. tomorrow, 17 January 2020.

Consideration due to Scheme Shareholders

The consideration of 19.21 pence per Amerisur Share payable to Scheme Shareholders on the register of members of Amerisur at 6.00 p.m. on 15 January 2020 will be paid by GeoPark Colombia no later than 14 days after today's date. Settlement of the consideration to which any Scheme Shareholder is entitled will be effected (i) by way of the despatch of cheques, or (ii) the crediting of CREST accounts (for Scheme Shareholders holding Amerisur Shares in certificated form and in uncertificated form respectively).

Changes to the Board of Directors

Further to the disclosure in the Scheme Document, as the Scheme has now become Effective, Giles Clarke (Chairman), John Wardle (Chief Executive Officer), Nick Harrison (Chief Financial Officer), Alex Snow (Senior Independent Director), Chris Jenkins (Independent Non-Executive Director) and Elodie Grant Goodey (Independent Non-Executive Director) have each resigned from the Amerisur Board, with effect from today, 16 January 2020.

James Franklin Park, Pedro Enrique Aylwin Chiorrini and Andres Ocampo have each been appointed to the Amerisur Board, with effect from today, 16 January 2020.

Posted at 14/1/2020 21:25 by rich2006
Or if you have options to cash in.
Over £8mm for selling the company down the river.
A list of shame needs to be published to show how the board acted in their own interest and not shareholders.


RNS Number : 8047Z

Amerisur Resources PLC

14 January 2020

14 January 2020

Exercise of share options by PDMRs, issue of ordinary shares in Amerisur Resources plc to satisfy share options, application for admission to trading in respect of such ordinary shares and confirmation of total voting rights following issue of ordinary shares

As separately announced by Amerisur Resources plc ("Amerisur"), the oil and gas producer and explorer focused on Colombia, the Court has today sanctioned a scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). Under the Scheme, the recommended cash acquisition pursuant to which GeoPark Colombia S.A.S. will acquire the entire issued and to be issued ordinary share capital of Amerisur (the "Transaction") will be implemented with the effective date expected to be 16 January 2020.

Issue of ordinary shares to satisfy share options following their exercise

Following Court sanction of the Scheme, Amerisur announces that it has today issued a total of 42,640,007 ordinary shares of 0.1p each in Amerisur ("Ordinary Shares") to satisfy option exercises under the Company's employee share plans. This comprises the following issues of Ordinary Shares:

-- 20,055,000 Ordinary Shares issued to non-PDMR employees based in the UK and Colombia following the exercise of their options held under the Amerisur Resources plc Long Term Incentive Plan ("LTIP");

-- 11,552,122 Ordinary Shares issued to Tracarta Ltd (a company in which John Wardle, Chief Executive Officer of Amerisur has an interest) following the exercise of its LTIP options as of today's date;

-- 2,032,885 Ordinary Shares issued to Nick Harrison (Chief Financial Officer) following the exercise of his LTIP options as of today's date;

-- 3,000,000 Ordinary Shares issued to satisfy an option granted to Giles Clarke (Chairman) on 22 December 2009, which was exercised on 20 December 2019;

-- 3,000,000 Ordinary Shares issued to satisfy an option held by Tracarta Ltd, which was granted on 22 December 2009 and which was exercised on 20 December 2019; and

-- 3,000,000 Ordinary Shares issued to satisfy an option granted to Nick Harrison on 22 December 2009, which was exercised on 20 December 2019.

Acquisition of Ordinary Shares by GeoPark Colombia S.A.S.

The above 42,640,007 Ordinary Shares will be acquired by GeoPark Colombia S.A.S. on 16 January 2020 under the Scheme, as further explained in the Scheme document sent to shareholders on 28 November 2019.

Application for admission to trading of Ordinary Shares

An application has been made to the London Stock Exchange for admission of the above 42,640,007 Ordinary Shares to trading on AIM ("Admission"). Admission is due to take place on 16 January 2020.

Total Voting Rights

Following the issue of the above Ordinary Shares, the Company will have 1,258,107,775 Ordinary Shares in issue with each share carrying the right to one vote. The total number of voting rights in the Company following Admission will therefore be 1,258,107,775.

The London Stock Exchange will be requested to cancel the admission to trading in the Company's shares on AIM following the Scheme becoming effective.

ENDS

Posted at 16/12/2019 17:08 by tyler durden1
Isn't there the caveat that some of these options can only be exercised if they have met the relevant targets.

Https://www.amerisurresources.com/investor-centre/formal-sale-process

The letter to Tracarta and another letter to Directors.

In both letters it infers some options are not exercisable as they need to meet performance targets?

Its hard to see how these options can ever be exercised even though it looks as though they have when the performance judging by the May 2019 report showing ADDITIONAL value created of over $367,000,000 ADDED to Amerisur's existing cash pile and production and OBA, leases etc. end up being sold for 19.21p per share. There is mention that any awards not ratified will be deducted, but how is that if they've already been pledged, or am I misunderstanding it, which I could accept as its complicated. So can they vote on options not yet ratified or end up not being ratified as that would be very strange. As although if not ratified deductions can be made it doesn't do much for a bid vote if votes can't be deducted.

Likewise options exercised require money to be placed in Amerisur's coffers, yet it would appear to many that we have had no RNS confirming any options being exercised or monies added to Amerisur's coffers. It might appear to some that Geopark take it as read it will go through and therefore the monies for options exercised whilst Amerisur is a wholly owned company that Geopark as far as I know owns no shares in, ends up with Geopark? Rather pre judging any court but until and unless the court sanctions their purchase and the shareholders vote for it, shouldn't that money be in Amerisur's account and notified accordingly?

The Formal Sales process as far as I can see showed no details on a lease granted after the FSP was started. That asset should not pass to Geopark, it belongs to the shareholders of Amerisur. Geopark's valuation can only have bid on the assets at the time the FSP started, whereas the latest lease was only notified after the bid of 19.21p was publicly announced and where in any case the FSP documents relate to JULY 2019 so any assets based up to that date.

The bid was announced on 15/11/19 based on a formal sale process that had all information on assets from commencement of FSP in JULY 2019, but could not have add information on a lease not yet granted or notified. In fact Amerisur had an investor presentation dated 31/7/19 which was glowing about the value of Amerisur, but again no mention of even having applied for a new lease and where it follows the May 2019 presentation showing ADDITIONAL value creation of over $367,000,000.

Publication of the scheme document was noted on 28/11/19 at 07:01 notified one day after the announcement of a new lease 27/11/19 11:04, and where to print that scheme document would have meant it was at the printers at least a week prior, so could not include the new lease as part of the assets of Amerisur?

On the same theme what about earnings since the FSP July date. Where are they noted, they can't have been included in FSP dated JULY, as these earnings occurred after that and are still ongoing?

Posted at 04/12/2019 18:08 by tyler durden1
al

If the BoD wanted a higher price they would not have curtailed the fully funded drilling campaigns. Unlike some companies who are not funded they had no real excuse which in no small way helped smash the share price and at a time where the share price was also artificially lowered by massive at first unreported selling by RH and even then the BoD seemed reluctant to keep shareholders informed via the registrar

They didn't even drill leases which had produced oil and some might wonder if that was the intention.

Reporting in May 2019 about ADDING $367.5m to Amerisur, leaves so many questions along with the above.

Since May 2019 in their own glowing accounts and the transformational features that had taken place within Amerisur, nothing occurred to reduce value, instead there was JV with Occi and since then an additional lease with a high probability it will produce too, let alone ONGC tendering for more and more drills at CPO5.

Then of course we have the 'materially undervalued', so you must forgive some people if they are thinking something smells rotten.

Posted at 04/12/2019 12:24 by al101uk
The document is telling in a few ways:

"Consequently, on 9 October 2019, FSP participants were issued with revised bidding instructions reflecting a strong preference to receive cash proposals for the Company, and requesting that the proposals submitted included, inter alia, confirmation that potential bidders’ proposals were not subject to any further due diligence or approvals, including board and/or shareholder approval."

Shareholders asked for the disposal to be "in full" and "cash only". I suspect a Michinoko led demand with backing from Cannacord. No further "due diligence or approvals" would really narrow the potential market!

"Whilst the Amerisur Directors believe in the future growth potential of Amerisur over the medium to long term, having considered the risks, particularly with regards to the operational challenges associated with delivering production growth from Amerisur’s discoveries, the inherent risks in exploration activities, and timescales associated with the realisation of value from Amerisur’s asset base, it considers that GeoPark Colombia’s proposal of 19.21 pence per share substantially recognises Amerisur’s growth potential, whilst providing certainty, in cash, to Amerisur Shareholders."

As close as you'll get to an admittance of guilt? "Operational challenges".

"It is intended that the Amerisur Directors will resign as directors of Amerisur on completion of the Transaction"

Only resigning as directors, no mention of them leaving the organisation... ugh!

"These options are already exercisable. The options expire on 23 December 2019, the day after the tenth anniversary of their grant, which is before the Court Hearing to sanction the Scheme. It is therefore proposed that they will be exercised on 20 December 2019, prior to their expiry.
It is expected that all options granted under the LTIP which have not already been exercised on the Court Sanction Date will be automatically exercised following the Court sanction of the Scheme."

Just disgusting!

"It is important that, for the Court Meeting, as many votes as possible are cast so that the Court may be satisfied that there is a fair representation of opinion of the Scheme Shareholders. You are therefore urged to complete, sign and return your Form of Proxy or make an electronic appointment of a proxy or submit a proxy vote via CREST as soon as possible. You should note that if there is insufficient Scheme Shareholder support for the Scheme at the Court Meeting, the Scheme will not become Effective."

So failing to submit a vote doesn't go down as a "Yes". The court needs a representative number of votes and the threshold must be crossed to get this take over done.

Posted at 22/11/2019 12:51 by rollthedice
AMER's justification is pretty straightforward and not unreasonable when taken in context of AMER's actual performance over recent years and the maturity of AMER's bread and butter asset (Platanilo):

"Whilst the Amerisur Directors believe in the future growth potential of Amerisur over the medium to long term, having considered the risks, particularly with regards to the operational challenges associated with delivering production growth from Amerisur's discoveries, the inherent risks in exploration activities, and timescales associated with the realisation of value from Amerisur's asset base, it considers that GeoPark Colombia's proposal of 19.21 pence per share substantially recognises Amerisur's growth potential, whilst providing certainty, in cash, to Amerisur Shareholders."

Shareholders will be able to choose between the company being sold and years more with GC & JW in charge awarding themselves plenty while share price flounders. 60p+ to 12p in 5 odd years is their record that you want to stick with? No thanks.

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