off topic
was AT ANCHOR when hit now on fire in North sea |
Enq should just keep paying their debt off. Keep it simple. |
Didn't really look into recent jog announcements but could Enquest be thinking of using their fpso on Buchan? Could it be done? |
May be out of date Re: EVs just posted. Bloomberg may differ.
EV is a key metric used to assess a company's worth, and is often used in acquisitions. |
According to the respective Enterprise Values are much closer than their respective share prices:
SQZ 660M
ENQ 653M |
Now it's a bit quieter
Shuttle ATD: 2025-03-07 11:48
So 29 days with the wait on weather.
I won't be doing this much longer, if the deal goes through. Getting long in the tooth and not in the best of health. Over to you when I hang my boot up laser? |
Reverse takeover simply means that a smaller company by Mkt Cap is taking over a larger company by mkt cap. |
hoping for enq offering 18 shares at the least maybe more, brokers over the last year brought down targets of sqz from £4 to £3 then to £2 sqz divi returns something like 19% its whether sqz will pay dividend & return some capital possibly if they use all the cash per share 65p i hold both enq and sqz so will have to see how it plays out sqz produces more gas than oil and is in a strong position with its balance sheet
mkt cap yesterday
Serica was £475m
Enquest was £204m |
It depends on the split, how many ENQ shares to one SQZ share? |
Fabulous deal by Enquest if they can pull this off...maybe not as positive if you're a SQZ holder |
As sqz will be the majority shareholders they will appoint the board I suspect |
Most of Sqz board are getting on a bit so many will step down. Besides Sqz board hold very little equity so it will be Enq board steering the ship |
Good points Jak. |
ROBIZM,
"Enq is doing the reverse takeover"
Yes, the RNS notes:
"... it is currently envisaged that the Possible Transaction will be structured as an all share offer by EnQuest for Serica by way of a reverse takeover under the UK Listing Rules."
With a standard "Takeover" you expect the acquiring company to boot out the directors of the company being acquired.
But with a "Reverse Takeover" (ie the whole point of putting the word "Reverse" in front of the word "Takeover") you would expect that the company that is being acquired then ends up having the majority of the board seats. Hence I think that it will be predominantly the Serica board that remain.
JakNife |
Enq is doing the reverse takeover |
nigelpm,
"Good for everyone except current board of Serica but they'll get well rewarded no doubt."
I was expecting that, as a Reverse Takeover, then it would be predominantly the Serica board that remained?
JakNife |
Good for everyone except current board of Serica but they'll get well rewarded no doubt. |
should give value on going forward hopeful to get some cash out of sqz but that could affect any dividend due shortly its a reverse takeover mainly for the tax losses EnQuest has until April 4 to announce its intention |
Staggering! |
i'd say good for enquest bond holders too |
So will it be a transformational deal? |
well thats interesting i hold both shares sqz have significant amount of cash Triton should be back on line end of this month if this goes ahead it would increase the tax losses combined |
Finally!!! |
 Statement re. media speculation
Serica notes the recent media speculation and confirms that it is in discussions with EnQuest plc ("EnQuest") regarding a possible transaction to combine Serica and EnQuest (the "Possible Transaction").
The Board of Serica believes there are substantial potential benefits to the Possible Transaction, including increasing scale and diversification, unlocking significant synergies and providing a stronger platform for further growth.
Although discussions are ongoing, it is currently envisaged that the Possible Transaction will be structured as an all share offer by EnQuest for Serica by way of a reverse takeover under the UK Listing Rules. It is expected that the Possible Transaction would involve a return of capital to existing Serica shareholders conditional upon completion of the Possible Transaction (the "Expected Return of Capital"), and that Serica shareholders would hold a majority of the shares in the enlarged company with shares listed on the ESCC market of the London Stock Exchange. There can be no certainty either that an offer will be made, nor as to the terms on which such offer will be made. A further announcement will be made when appropriate. |
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