Eco (atlantic) Oil & Gas Share Discussion Threads

[greenisgood] 10/6/2009 17:55

Wonder if Credit Suisse might be interested at all themselves, though I guess they'd have had to declare and interest? They have a long relationship with ECO and so i assume are supportive of present management and ownership and happy to help make any hostile approach more difficult

[greedy rooster] 10/6/2009 17:23

Credit Suisse account for just over 16% of ECO after buying a further 490,000 odd on Monday.

Looks like we sit and wait for the responses from the suitors.

[greenisgood] 10/6/2009 09:38

That FT comment Greedy refers to reads;

"Rival's stake aids EcoSecurities

By Neil Hume and Bryce Elder

Published: June 10 2009 03:00 | Last updated: June 10 2009 03:00

EcoSecurities , the carbon trading specialist which has knocked back two bids in the past week - one of them pitched at 75p a share - added 2.9 per cent yesterday to 79¾p.

The gains came after rival Trading Emissions , up 1.7 per cent to 103p, declared the purchase of 1m shares and a stake of 1.5 per cent.

With a market capitalisation of nearly £260m, and £200m in the bank, brokers reckoned Trading Emissions could afford to launch a bid for its smaller rival, which is valued at just over £90m. Trading Emissions declined to comment on the motives behind its purchase."

[greedy rooster] 10/6/2009 07:48

Nice comment in the FT this morning re ECO and Trading Emission stake. Stock marked modestly higher.

[greenisgood] 09/6/2009 19:05

Not the price suggested as fair value here and the expectation of more bidders tom come, don't sell....yet!

"Bidders in for Ecosecurities

A takeover battle has emerged between France's EDF Trading and Dutch company Guanabara Holdings for Irish environmental project developer EcoSecurities.

On Friday last week, Guanabara, owned by Pedro Moura Costa, the founder and former managing director of EcoSecurities, made an indicative offer of 60p per share, which was followed by EDF Trading's announcement on Monday this week that it was considering making an offer of 75p a share for EcoSecurities.

EcoSecurities' board has said both offers would not be acceptable because they undervalue the company. London stockbrokers Mirabaud Securities has estimated EcoSecurities' fair value at 143p per share.

An EcoSecurities spokesperson said no other companies have entered the bidding yet, but they expect bidding action to continue."

[greenisgood] 09/6/2009 18:58

From yesterdays' FT;

"Takeover battle as EcoSecurities rejects bids

By Philip Stafford

Published: June 8 2009 17:52 | Last updated: June 8 2009 17:52

A takeover battle has broken out at carbon trading specialist EcoSecurities. The company has received two takeover approaches in consecutive working days, although the board has rejected both of them.

The Ireland-based group said an indicated 75p-a-share cash offer from EDF Trading, a subsidiary of the French energy group, was "wholly inadequate" as it fell short of an indicative conditional proposal of 96p EDF made last month. The 75p offer values EcoSecurities at £88.5m ($141.7m).
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On Friday the board turned away an indicative offer of 60p a share from Guanabara, a Dutch company owned by Pedro Moura Costa, a founder of EcoSecurities, and BTG Investments, an investment company. Guanabara now owns 12 per cent of EcoSecurities, having added to its holding on Friday.

EcoSecurities shares rose 18p to 77½p on Monday. They have risen by 74 per cent in the past week.

Agustin Hochschild, an analyst at Mirabaud Securities, said both offers undervalued the company. He said that a "bare bones" valuation of EcoSecurities was 121p a share, based on cash worth €0.46 cents a share, and the company's portfolio of carbon credits. "An offer has got to be over a pound," he said.

EcoSecurities invests in projects that generate carbon credits under the Kyoto protocol, which are sold into carbon trading markets. Prices for UN carbon credits have dropped sharply in the recession, down from a high of nearly €20 ($28) last year to about €13.

EDF's approach highlights the extent to which large energy groups are taking an interest in emerging independent renewable energy businesses. Last year the South American subsidiary of Suez trumped smaller rival Trading Emissions in a £39m bid for Econergy International.

Development of the carbon trading market has been hit by delays in the UN's processes for certifying emissions projects. As a result, EcoSecurities has had to cut the expected size of its portfolio from 163m to 130m carbon credits by 2012. "

[greedy rooster] 09/6/2009 12:23

Trading Emissions has acquired 1.5% of ECO through market purchases at 74p.

Could this be the wanted third possible suitor?

It shows that TRE must be vulnerable if EDF don't get ECO.

[greenisgood] 08/6/2009 15:48

Will be interesting to see if Credit Suisse enter the fray, seem to recall that ECO and they have a close relationship

[greedy rooster] 08/6/2009 15:41

Guanabara hold the key. If they or a further party enter the frame i'd say 105p or there about could be possible.

[greenisgood] 08/6/2009 15:29

Any thoughts on how this could end up? Last RNS spoke of company having turned down an off record approach from EDF at 96p, my guess is that offer would need to come in at around 125p before the company thought might be of interest. However, any other views?

[greedy rooster] 08/6/2009 07:21

Lovely stuff.

[greenisgood] 08/6/2009 07:14

EDF considering bidding 75p, still too low imho but getting to be quite interesting now

[greenisgood] 05/6/2009 11:17

Great response

[greedy rooster] 05/6/2009 10:38

Nice response from the board.


Response to Possible Offer

EcoSecurities Group plc ("EcoSecurities")

Response to Possible Offer

The Board of EcoSecurities has noted the unsolicited approach made
this morning by Guanabara Holdings B.V.

The Board considers it to be wholly inadequate and strongly advises
shareholders to take no action.

[matt123d] 05/6/2009 08:32

Very nice, worth the wait.

[daytraders] 05/6/2009 07:58

will this move up much today you think then ?

[greedy rooster] 05/6/2009 07:22

Potential offer announced this morning at 60p per share. Looks very opportunistic to me. Still, nice profits!

[greenisgood] 05/6/2009 07:15

The possible takeover bid would suggest that the founder of ECO's recent departure was not as ammicable as had previously been suggested? Unless a strategy to affect a de-listing via a takeover by a friendly company? Either way, undervalued in my opinion

[greedy rooster] 03/6/2009 07:34

ECO marked up this morning. Looks like the buy signal is confirmed.

[greenisgood] 03/6/2009 06:58

"Ecosecurities registers largest 'Gold Standard' project
Published: 02 Jun 2009 16:44 CET Last updated: 02 Jun 2009 16:47 CET

A windfarm in Turkey has become the largest project to be registered under the Gold Standard."

[greedy rooster] 21/5/2009 08:57

ECO AGM statement reassuring, CERs in line and cash up to €53. Market Cap £46m - I don't think so. Momentum improving and chart looking very good. I'm taking more if the price breaches 43p. Cheap stock!

[matt123d] 20/4/2009 23:13

Still looking good here, uptrend forming with a recent higher low and a higher high today.

Rising 50dma also.

[matt123d] 19/3/2009 11:38

Looking good.

Rising 20dma and the 50dma is starting to level off.

Seller appears to have been cleared now - 50p target.