Capricorn Energy Share Discussion Threads

[nigelpm] 07/4/2022 12:36

Well quite - in summary it depends...

[loglorry1] 07/4/2022 12:35

They always buy in pathetically small size and sell in the milliions as the old saying goes. My view FWIW is ignore any buys that is not of signifcant size and even then if they buyer is very wealthy best to ignore also. Ignore small sells but if they are big sells then it is a negative unless they have very good excuse.

[nigelpm] 07/4/2022 12:33

Precisely - I really don't see it as a negative at all - I pay far more attention to Director buying than selling unless it's an AIM pile of proverbial.

[loglorry1] 07/4/2022 12:02

Hi Nigel, small negative that the CEO sold. He is selling below cash value which is daft. However liquidity event and all that and to be fair it is all free money to them anyway as I doubt he put much real cash in to buy them.

Getting kicked out of FTSE250 and the ESG thing is probably a much bigger reason for the drop.

[nigelpm] 07/4/2022 11:26

Not really. He's got a shed load of options. Makes sense to cash some out.

[888icb] 07/4/2022 11:23

The CEO sold some of his shares in the tender for £2.23p so it will leave a very bad taste if the share price doesn’t end up above that level.

“ Following completion of the Tender Offer on 6 April 2022, details of which were set out in the circular to Shareholders published by the Company on 7 March 2022, Capricorn announces that, on 6 April 2022, Simon Thomson, Chief Executive, had 451,560 ordinary shares of (21) /(13) pence each in the Company ("Ordinary Shares") accepted under the Tender Offer, at the Strike Price of GBP2.23 per Ordinary Share”

[finkie] 07/4/2022 10:37

Agree with Nigel good news here bought more yesterday at 203p, cash out the door but far less shares in circulation I think those that tendered could regret doing so.

[nigelpm] 07/4/2022 09:21

no problem croas. ADVFN is a funny place at times but it's better than twitter in that you can write longer posts.

[silverstone1] 07/4/2022 09:14

NOW WE KNOW THAT VIRTUALLY EVERY SHARE WAS TENDERED, WHICH EXPLAINS YESTERDAY'S SHARP DROP IN PRICE, BUT IF VIRTUALLY EVERYONE WANTED A THIRD IN CASH, A 77P SPECIAL DIVIDEND WOULD HAVE BEEN LESS EXPENSIVE TO EXECUTE BECAUSE WE WOULDN'T HAVE HAD TO PAY MILLIONS OF POUNDS FOR PROFESSIONAL ADVICE AND A 77P SPECIAL DIVIDEND WOULD HAVE RETURNED MORE THAN A THIRD IN CASH (THE BALANCE OF 8P PER SHARE WAS WASTED ON PROFESSIONAL ADVICE)!

[nigelpm] 07/4/2022 09:09

Morgan stanley dumped the lot. This was their opportunity to get rid of O&G from their portfolios - I made this point earlier but of course it fell on deaf ears. The reason for the tender offer was completely logical with an institutional base that have to pander to ESG mandates.

[nigelpm] 07/4/2022 09:01

Nice to see some sensible posters (many of whom I respect) back on here - it has felt a bit like the land of the loonies on here of late!

[croasdalelfc] 07/4/2022 08:33

The previous buyback : 0.88% of shares for $11m. (1% would have cost ~$12.2)Current buyback: 25m shares (7.7%) at £2.50 average would cost $62.5m - better value. Each 1% share reduction costing $8m - so 50% better value25 million share at £2.25 would cost $56.5m with each 1% share reduction costing $7.3m

[loglorry1] 07/4/2022 08:26

Bought a few today and yesterday. The fall seems overdone. Probably index trackers selling. The buy back starting today should help mop some of this up.

[nigelpm] 07/4/2022 08:22

True - suspect they might have learnt from that somewhat - we'll see.

[xxnjr] 07/4/2022 08:19

Last time round it also meant not buying any shares within the period if the share price goes above x

[nigelpm] 07/4/2022 08:16

Nice recovery in first 15 mins - market is a nutter on acid at the best of times.

[nigelpm] 07/4/2022 07:58

That line is often in place - things like not buying if price goes x% above previous day and no more than 150k shares per day etc...

[xxnjr] 07/4/2022 07:56

"Any purchases of Ordinary Shares contemplated by this announcement will be effected within certain pre-set parameters....."

[nigelpm] 07/4/2022 07:44

Almost certainly would think mgmt saw the share price collapse after reducing shares in issue by c. 1/3 and looked at each other stunned.

[nigelpm] 07/4/2022 07:11

Nice. Confirmation of start of buybacks to be done in 25m tranches. Great management and speed to get it immediately in place.

[zangdook] 07/4/2022 04:58

Over all the numbers and imagined prospects is the shadow of management cluelessness. Oil businesses like this are not Warren Buffett's simple companies that can be run by idiots. Underlying most of the positive posts above there seems to be a sense of short-termism - 'there are grounds to imagine the share price may go to x or y this year'. Wonderful. It's not a share to hold and forget, is it.

Anyway, I'm out. I halved into strength as the tenderers pushed it up and dumped the rest in a hurry when I saw they'd managed to extract all the $500m. I'll keep half an eye because it's interesting to watch. Good luck to all.

[novicetrade68] 06/4/2022 21:36

Going through their accounts they can hopefully bring down their $64.1m financing costs during 2022 to a more appropriate level . Hopefully news on Egypt and PMO royalties soon after such violent moves on the market today.

[novicetrade68] 06/4/2022 21:19

$200m could reduce the number of shares by another 75m, so then there are 250m shares, so with their Egypt operation maturing, 250m shares and a high POO a £3 share price is possible perhaps even this year.

[nigelpm] 06/4/2022 18:47

Other way round I think - they are likely leaving FTSE-250 due to reduction in market cap - might even part explain the tankage today. Hadn't really considered that.