Capricorn Energy Share Discussion Threads

[pendragon2] 05/4/2022 11:52

silver -

fog from the tender documents:

Shareholders should also note that, if the Tender Offer is successfully implemented, the Issued Ordinary Share
Capital will be reduced. The AGM Buyback Authority was taken on the basis of the Issued Ordinary Share
Capital before the Tender Offer, and such any reduction as a result of the Tender Offer will also result in a
corresponding reduction of the number of Ordinary Shares representing 10 per cent. of the Issued Ordinary Share
Capital. In view of this, the Board intends to restrict its use of the AGM Buyback Authority to market purchases
of Ordinary Shares representing a maximum of 10 per cent. of the Issued Ordinary Share Capital as it is after
completion of the Tender Offer. The Board would then expect to seek a new authority from Shareholders to make
market purchases of Ordinary Shares at the 2022 AGM.

[xasy] 05/4/2022 11:51

It does help to read the documents before mouthing off.

ref post 6718, war crimes tribunals should be held in strict order. A tribunal for Ukraine should be held 19 years after Bush and Blair are tried over Iraq, which should happen three years after Bush, Clinton, Schroeder etc are tried over Yugoslavia (or, to save time, the 20 year sentences imposed at the time by the Yugoslav court could be enforced) which should happen nine years after any surviving criminals from the invasion of Panama etc etc etc

If justice is not even-handed it is not justice.

[pendragon2] 05/4/2022 11:44

vwap so far

30 March
220.5451p

31 March
220.6214p

1 April
222.7302p

4 April
225.4530p

5 April
TBA

[silverstone1] 05/4/2022 11:33

"THE TENDER OFFER WILL REDUCE THE NUMBER OF ORDINARY SHARES IN ISSUE, AND SO SHOULD, ASSUMING EARNINGS STAY THE SAME, HAVE A POSITIVE IMPACT ON THE GROUP'S EARNINGS PER SHARE (AS THE COMPANY INTENDS TO CANCEL ALL OF THE ORDINARY SHARES ACQUIRED IN CONNECTION WITH THE TENDER OFFER)."

[pendragon2] 05/4/2022 11:21

for your attention:

[pendragon2] 05/4/2022 11:02

You may want to take into consideration that the shares which have been 'bought back' need not necessarily be cancelled and may be held in treasury as a deep pool of unsold shares to be strewn as bonus' for directors and others within the company, or distributed for other purposes.

With the tender likely to be around 222-224, there is really no reason to buy these for anything higher.

[silverstone1] 05/4/2022 10:40

TRON22, VWAP + 5% IS A POOR DEAL, SIT TIGHT FOR 300P!

[zangdook] 05/4/2022 09:40

Or...they may have had 4.9%, tendered them all, and be buying hard to push the strike price up.

[888icb] 05/4/2022 09:24

Morgan Stanley have just notified a 5% holding completed yesterday having not previously notified a holding. They clearly think it’s a buy and will have helped to move the price up.

[finkie] 05/4/2022 09:13

tinder offer!!!! swipe left haha

[cosmondo] 05/4/2022 09:00

I think we all need to be a little more patient.We don’t yet know the value of the tender offer or how many have taken it up. It might well be not enough to absorb $500k. Once this is known, I would expect a special dividend and an ongoing share buyback. Th3 the share price will find its right level based on its current operations which by then with far fewer shares in circulation, I believe could be in excess of £3. At the moment I think the share price is being manipulated so the major shareholders get the bulk of this $1billion for themselves one way or another.

[tron22] 05/4/2022 08:35

Silverstone or any one else - dividend payment: distributing the $500 million back to shareholders is a clear return of the $500 million.

Tender Offer - allowing shareholder to participate in share buy back, and use the
500 million to re-purchase said shares, with no real premium. How is this returning money to shareholders?

Is the logic: $500 million worth of stock re-purchased, less shares on the market, remaining shares are worth more for those who did not sell? This does not seem like a fair deal?

Now there is nothing to push the price of the stock up. The last regular share buy back did not increase the price of the stock (like I felt it should have). The only thing that pushed the stock price was the events leading up to the india repayment.

Can someone make this make scense? My breakeven point was 2.40 so I could not partake in the tender offer, or I would have lost money... this does not seem fair!

I really am wondering what is going to happen after the tinder offer.....

[silverstone1] 04/4/2022 20:32

ON 13 JANUARY 2022 I POSTED: "CNE SHOULD ACQUIRE CHAR BEFORE IT'S TOO EXPENSIVE!" NOW CHAR ARE TOO EXPENSIVE BECAUSE IT'S MORE THAN DOUBLED IN PRICE!

[silverstone1] 04/4/2022 20:08

TAKEOVER OFFER APPROXIMATELY 300P, TENDER OFFER APPROXIMATELY 230P, THAT'S WHY A TAKEOVER OFFER WILL ARRIVE AFTER THE TENDER OFFER CLOSING DATE!

[silverstone1] 04/4/2022 16:37

WILL A TAKEOVER OFFER ARRIVE AFTER THE TENDER OFFER CLOSING DATE?

[finkie] 04/4/2022 09:36

tron22 the way the stock has moved i can see it falling post tender to continue shaking the tree and parting small shareholders from their stock. Im not selling and wont until we see a much bigger share price here.

[zangdook] 02/4/2022 11:26

Silly

'is a long term strategy, and would not be implemented soon.'

I don't think that describes something which will begin in about five weeks.

[tron22] 02/4/2022 11:24

Will the stock be worth more after the tender offer completes? Or will it drop? Does anyone know?

[tron22] 02/4/2022 11:23

Will the stock be worth more after the tender offer completes? Or will it drop? Does anyone know?

[silverstone1] 02/4/2022 10:36

ZANGDOOK, IT WON'T BE IMPLEMENTED SOON BECAUSE IT NEEDS APPROVAL AT THE AGM ON 11 MAY 2022, SPECIAL RESOLUTION 16!

[jong] 02/4/2022 09:44

Quote :

"The remaining sum of up to US$200m is to be returned by way of an ongoing share repurchase programme in order to provide a continuing value-accretive return of capital to shareholders."

IMHO that should give some support to the share price whatever the timescale. I can't see CNE not implementing the buyback if the shares slip back a lot - that would be in no ones interest.

[silverstone1] 01/4/2022 22:17

NIGELPM, IT TOOK 3 MONTHS TO BUYBACK LESS THAN 4.5M SHARES, SO IT WILL TAKE MORE THAN 60 MONTHS TO BUYBACK 90M SHARES AND THAT'S NOT AN APRIL FOOL!

[nigelpm] 01/4/2022 21:32

Not surprised. Will take a while to buyback c.90m shares! It's going to provide a huge amount of upward pressure though that's for sure.

[tron22] 01/4/2022 18:02

I spoke to Capricorns company secretary. She said the 200million share buy back program is a long term strategy, and would not be implemented soon.