Bowleven Share Discussion Threads

[pavey ark] 12/9/2016 09:42

f_d, good point, I thought they had passed this to their broker but I see they still have control of the buying :-
"Bowleven has entered into an agreement with its broker Macquarie Capital (Europe) Limited to carry out purchases of shares under the Programme on its behalf. Acting within its market purchase authority, the Company will retain discretion in respect of the volume, timing and price of shares to be repurchased."

Very strange if they announce this measure then only buy a small amount over a few weeks knowing that they can no longer buy for two months.

Giving the board the benefit of the doubt I would think that purchases can continue and agree with that point that ALL shareholders are involved and not individuals.

I certainly could be wrong though.

Edit: Just a thought but they do seem to be going to some length to be transparent here with detailed announcement the day after each purchase. I am now thinking that this is to meet any conditions placed on purchases in a closed period.

Again, not sure.

[corgies2] 12/9/2016 09:35

fire....that's a very good question after the company have made info public

[fireplace22] 12/9/2016 09:14

Does that effect purchases by the company though, as the advantage/disadvantage from the purchases affect all s'holders not those with privileged info? .

[fluffy_dog] 12/9/2016 09:09

Pavey. I am thinking we might be in a closed period so if so, co cannot buy their own shares.

[symbo] 12/9/2016 07:33

Le com, do you have any comments re Xel release thus morning, is this what you were expecting?

[pavey ark] 12/9/2016 07:16

Well it looks like they didn't buy on Friday.
Playing games with the market makers or something else going on ?

[pavey ark] 11/9/2016 10:53

Difficult to work out what their plan/objective is here.
At the current rate the share buyback could take three months and my best guess would be c. 25m @ 28p.
If this is the board's intention it would support the price at this level but if they are out for maximum bangs for their bucks then they may step back for a short time then move in.
If the mms think you are in to buy every day I doubt if you will be able to buy 25m @ 28p.
A much more sensible approach, in my opinion, would be simply to go for it in a reasonably positive way and set up a tender offer to buy back 50m shares at 30p or so.

ST in the IC said recently that a broker had estimated current cash at c. $103m so if you add in the $15m due at the end of the month you get 27p cash so they would be buying back these shares and all the assets attached to them for 3p.

They may not get 50m but they would get more than a few and all at once.

[goodgrief] 11/9/2016 09:19

... only if you think the shares aren't going to be cheap anytime soon!!

[dealy] 11/9/2016 08:07

It doesn't actually matter. If they buy the shares for 26p and the shares are worth 50p then the 24p of value accrues to the shareholders.

Doesn't change the fact: why has the company stopped with a program which is likely require daily purchases? The idea is to buy the shares whilst they are cheap

[slipanchor3] 10/9/2016 14:59

dealy

Not in the case of the BLVN buy back, they are being transferred into treasury.

[dealy] 10/9/2016 14:48

Same as every other company does with bought back shares. It cancels them meaning the number of shares in issue declines so the NAV/Share and EPS etc. goes up.

[bengal1] 10/9/2016 14:08

So what does BLVN actually do with the shares once purchased...sell them??

[fireplace22] 10/9/2016 12:16

We don't yet know about Friday but with the no of shares traded I'd have guessed that they were in the market. RNS Monday maybe.

[dealy] 10/9/2016 12:13

waiting a whole week, including weak days like Thursday and Friday? I reckon something is going on.

[fireplace22] 10/9/2016 11:12

BLVN are expecting $15M from the FO later this month so confirmation of this should provide a boost to the share price They need to buy a few beforehand. IMO.

[svenice7] 10/9/2016 11:09

Ok so less than 10% into the buyback programme. Kind of makes sense to wait for the share price to settle down before buying more....

[fireplace22] 10/9/2016 11:04

2.42M bought back and up to 48.6M planned or $10m whichever is reached first presumably (almost certainly the $10M spend; at 26p that would give about 30M shares).

[svenice7] 10/9/2016 11:00

What percentage of shares were they going to buy back and what percentage of shares have the bought back?

[stansmith3] 10/9/2016 10:37

dealyi think most people who visit this board have a look every morning to check for recent buy backs and wonder why the buying paused...i would love to know the real reason for the buyback, there are a few good contenders, that are not necessarily in our interestswith regards imminent news, maybe, maybe they dont want to be the market for a while...i still find it more than strange that very large holding vocal pi's have made no public statements since all this started and i think more should be read into this - these are sophisticated investors after all

[dealy] 10/9/2016 09:50

Posting here for the first time in ages but still following the company and still adding on weakness.

I am surprised that none of you have asked the question: why has the buy back been put on hold this week?

My only explanation for that is that the company has some news to announce or has been approached regarding a takeover. Why else would they stop buying for a week?

[slipanchor3] 09/9/2016 17:10

There are probably many many explanations for the drop in share price today, but the only obvious one that comes to mind is to take out the stop losses.

[stansmith3] 09/9/2016 16:50

pavey/james/geoffdont worry i'm quite calm and content and my world is full of colour having traded the buyback very fortunatelyjust to correct you - the currency effect and umpteen reasons (not all good) for the buyback have been discussed here over and over, so please pay attentionas for blvn mcap being below cash, if you buy shares everytime that happens you will run out of moneywe have still to hear how much wasted on bomono and how much the aminex fiasco cost....

[pavey ark] 09/9/2016 16:13

There, there Stan, calm down dear.
I am aware of all that but in spite of all the spitting and throwing of strops I don't think I've seen a mention of the currency effect or reasoned, calculated valuation of the buybacck.
The fact remains that for a short time today the cash, by my calculations, was greater than the market cap so I bought some shares.
Again, sorry if I brought a little light into your seemingly dark world.

[stansmith3] 09/9/2016 16:03

paveyyou sound just like james/geoffeveryone here more than familiar with the cash being burned, the assets etc and most of all the previous value destruction