Angus Energy Takeover Rumours (ANGS)

More like rumours of a buyout/Takeover!!!

angus is a sitting duck for a takeover soon...Shell?

1347: I mention those two because of one or two important similarities to the position here. As for “most of thisâ€￾, I agree with all of it really but think the 0.40 is irrelevant now. If there’s a takeover. It will be at a fraction of that price. They'll get the biggest possible placing away first though, what? I’ve had a look at the Kemexon UK accounts published last month. It’s a tiddler, isn’t it?

1347: yes, I agree with nearly all of this, as you know. I think it’s more likely that Anguish will be taken over and a minimal payment paid to shareholders for it, more like 0.05 or 0.1p per share than anything close to where it is now. People will ask, in that case why go through the whole loan process? Well, there’s a few nice arrangement fees involved in the latter, and Trafigura will get its money back in a takeover, won’t they? The jayhawkers on the UKOG and Vast sites don’t seem to be universally content. Who’s next?

Dreadful for shareholders. I wish them good luck but agree with you 1347. You’ve been warning for a very long time about a low priced takeover following exercise of options/warrants etc. at a low price. I’ve gone on and on about the need for further big equity issues here. It’s done and dusted. I wonder how long it will take for the penny to drop and for the share price to reflect the reality.

So just tumbleweed on this BB now. Meanwhile time's up on the Bridge Loan Too Far and as I expected it has gone to the wire and the SP has been walked down towards the floor price of 0.4 p, in my view contrived and exactly as 'erbert and his major shareholders intended. So what will it be now? A conversion at rock botton price giving Aleph a shed load of shares sufficient, along with Kemxon to do a back door takeover of Anguish Energy? Or will it get can-kicked for another 3 months, with an even lower floor price and more warrants and fees, no doubt paid by confetti shares. Either way it seems to me it's close to game over for smaller shareholders, no value to be had here. All just my opinion but we'll see what happens on the next few bends on Snake Pass.

1347: do I take it that you’ve paid your monthly visit to Kansas? I agree with you, as you know. Quite funny that the Takeover Code assigns responsibility in some circumstances in deciding whether the % shareholding required by the Code for a full bid may be waived. That’s Paddy and Mr. Forrest and Mr. Zielicki (ex-B.P. and Rosneft) then. Good luck to small shareholders with that.

1347: yes, I agree, really. The discussions on the Global Re-Financing loan are now probably centring on the respective interests of Mercuria and Aleph. Mercuria would want to protect their loan and their royalty in the event of an Aleph takeover.

'erbert set the dial at 1.0 p, and down it went, he re-set it to 0.66 p for the converion and warrants and then re-set it again even lower at 0.40 p and surprise, surprise that's where it's heading now. Looks to me that he's carrying out his instructions to engineer a low ball takeover by the back door.

shell takeover of saltfleetby coming

JT If Aleph exercised those warrants at the rock bottom sale price of just 0.66 p and admitted they were a concert party with Kemexon it would be a de-facto takeover by the back door. Non related parties would be wiped out. Personally I've thought for some time that it was likely to end this way, ever since Aleph appeared on the scene. The key word here is contrived remember.

JT This looks like another flat out piece of misleading market to me. Correct me if I'm wrong but there was NO mention in the 28th March 2023 RNS, to which they refer, that it "was conditional on a conversion being mutually agreed". What they actually stated was: "The Company has the option to repay the junior loan in shares at a 25% discount to the 30 day VWAP, subject to a floor at 1p and this same option is also available to the lender but only in the event of default.". I agree with you that it's effectively a backdoor, heavily discounted, subscription for which Anguish Energy paid both parties fees on top. In my opinion this has been done either so certain shareholders make a profit flipping discounted shares or to facilitate a back door takeover at rock bottom price.