Diversified Energy Share Discussion Threads

[greygeorge] 08/2/2023 21:54

spangle93, I've seen wholesale book builds done and dusted before any RNS is even published, never seen one for a retail offering though, not one that closes within a couple of hours of being announced. It will be interesting to see if anyone here got the opportunity to apply, did apply, and what their final allocation will be when it's announced.

Obviosuly, for me, I missed the announcement, so applied for zero, and will receive zero.

Edit to add - Also, they knew how many shares they were issuing, and know how many shares are currently issued, so why not make the offer a 1 - 100, or whatever the ratio would be, for everyone to have the opportunity to participate ?

[spangle93] 08/2/2023 21:35

GG - if the retail offer is oversubscribed, there will be a scaling back, which I assume will be pro-rata though other forms of scaling have been used by other companies.

It's stated in the RNS. There's a maximum of $3MM available for retail investors

[greygeorge] 08/2/2023 21:20

appollocreed1, not only 'unfair' but possibly illegal ? As it's a retail bookbuild, the normal procedure, if it was over-subscribed by the notified close time, additional shares should have been offered, or the shares offered should have been reduced on a pro-rata basis. something is rotten here.

[greygeorge] 08/2/2023 21:09

spangle93, not just HL but II too. Something's not right here.

[greygeorge] 08/2/2023 21:04

Yep, nothing fishy about this at all, lol. I thought they had lots of cash for acquisitions, a small gobble like this should hardly cause a burp in those funds available. Maybe they just want someone associated with the company to buy in at a very advantageous price. Who knows ? You lot don't, for sure, lol.

[scrwal] 08/2/2023 20:39

The May 2021 raise was done at a 2.5% discount to the 30 day volume weighted average price and an 8.3% discount to the closing price.

[hiddendepths] 08/2/2023 20:01

Well, I missed it by 90 minutes it seems (II). Looks like a small tranche for shareholders anyway. I agree that buying in the market won't be much more expensive....

[1knocker] 08/2/2023 19:54

Blink, and you have missed it. I did anyway. Tough on those building positions, as buying this way would have saved on stamp duty and dealing charges, if not on price. As I have a full (over full) holding already I am relaxed as I would not have taken up the offer even if I had known of it in time.

If anyone has missed out and wants to buy, I suggest putting in a limit order a bit below today's closing price. The opening price sometimes jumps around a bit when this sort of thing is bounced on the market after the previous close, so there is a fair chance such an order will trigger. If it does not, you have lost nothing by trying.

I agree that it is quite likely that this has been spooking the share price recently, and that a rise over the next few weeks is very much on the cards. All we need now is a collapse in the gas price so as bring some wells to the market for DEC to buy cheap!

[podgyted] 08/2/2023 19:49

That was quick, as the actress said to the bishop.

Sorry, I'll get my coat.

[owenski] 08/2/2023 19:05

To be honest, it's not a problem to ignore the offer and still buy in the open market, if the divi is the attraction.

I only saw the email after the event too, but as said, it suggests the book is already done and dusted especially since it's taken place after UK market hours and finishes before market open the next day. That's a big positive considering some companies have struggled to raise money in current environment. Validates the team at DEC - who are shrewd financiers at heart anyway.

If, as I suspect the price is pitched at about where we are now, I'm happy to pick up stock during normal hours at around these levels.

[apollocreed1] 08/2/2023 18:50

I'm really annoyed they closed it before I saw the bloody email. Not at all fair on retail investors.

[owenski] 08/2/2023 18:48

The timing is tight, I'm already too late, I'd guess they've already had the book filled.

Good to see enlarged share base will attract same divi rate, I'll suggest price will start to recover in the days ahead??

[owenski] 08/2/2023 18:45

I guess that's why the share price has been trending down of late. didn't really make sense now it does.

[spangle93] 08/2/2023 18:36

podgyted and others

HL not quite on the ball (so what's new there?) as just had an email to say applications have closed, not 7pm as I agree they had originally said

[laurence llewelyn binliner] 08/2/2023 18:35

#podgyted, how long the book is open for is at the discretion of the book runners and how heavily it is subscribed, also IF the subsribers for the placing want it at a discount to VWAP of today to fill the book (or not), we will find out either way tonight or 0700..

Interesting development, and time to add in the morning.. :o)

[king suarez] 08/2/2023 18:30

Expect this placing explains some of the share price drag lately, so likely not significantly below the current price? We hit 108p intra-day the other day? Maybe around that level..

[renewed1] 08/2/2023 18:30

May have been the reason for the price weakness lately!!!

[apollocreed1] 08/2/2023 18:27

Isn't this going to dilute the price? Maybe I bought at too high a price then....

[podgyted] 08/2/2023 18:08

Thanks LLB.

My platforms are asking for my order pre-close so I won't know the price. So I've decided to have a nibble anyway.

[podgyted] 08/2/2023 18:06

Hargreaves L. by 19:00.

[laurence llewelyn binliner] 08/2/2023 18:00

#podgyted, last 1 I was involved in went through an accelerated book build, closed same day, the retail offer went through a platform called Primary Bid, where you registered your interest but it was hassle inside a SIPP/ISA and easier to simply buy on the open market the next day..

[holts] 08/2/2023 17:59

Response required by 18 30 for II and AJ Bell .

[spangle93] 08/2/2023 17:57

It's rare to see "Dunderheed" and "reserved" in the same breath ;-)

BM, you have PM

[dunderheed] 08/2/2023 17:55

Reserved for DC

[dunderheed] 08/2/2023 17:54

Reserved for monte1