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FTO Fortune Oil

10.50
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Fortune Oil LSE:FTO London Ordinary Share GB0001022960 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 10.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Fortune Oil Share Discussion Threads

Showing 17976 to 17999 of 18150 messages
Chat Pages: 726  725  724  723  722  721  720  719  718  717  716  715  Older
DateSubjectAuthorDiscuss
14/2/2015
10:31
Never undertsood this CVR thing. Could someone spell out what is required to happen and what incentive anyone in FD has to make it happen. Sounds like if, buts and maybes to me
johnives
14/2/2015
04:54
Thaiger...quote..."buying us out with 10p now and 5p CVR in the next 12 months still make them millions."

When budgeting for the coming year...I would "suggest" you don't use that hoped for cvr bearing fruit...
All the best to all on here... Going on a holiday now for a while....

del44
13/2/2015
23:23
there was 13% who voted against the offer so although they did get the majority they required to push the offer through there was a serious dissent among the ordinary shareholders.
tel5
13/2/2015
23:15
Why are you all so pessimistic?! The net tangible assets per share is well over 20p. Think they were also fed up that the market never valued FTO probably.......buying us out with 10p now and 5p CVR in the next 12 months still make them millions!!
thaiger
13/2/2015
21:28
totally agree been here since 2004 what a waste of faith, never again shall I invest in the Chinese
lexus880
13/2/2015
21:14
The biggest stitch up since the Bayeux Tapestry.

This saga truly shows why the markets have distrusted FTO and old Danny boy for all these years and they have been proved right!!

oohrogerpalmer
13/2/2015
20:53
Well done to those that held out for 10p - you got it. I honestly thought it might get voted down.
topvest
13/2/2015
20:49
Celebrate, soon we will no longer be tied to an organisation which does not have our best interests at heart. Following the last report I couldn't wait to be free of this.
pieball
13/2/2015
19:00
I think it is only reading through the document proper that you understand that the cvr is "unlikely" or the other word "remotely" got a chance of been paid. Also they state the investment is a "Long term strategic investment".... All adds up to...they pay £250 million for assets worth in excess of £600 million...

Bloody annoying that...:-(

del44
13/2/2015
18:22
Appreciate a report from any one who attended the meeting today.
thaiger
13/2/2015
17:32
Effective Date

Completion of the Acquisition is conditional upon the satisfaction of the conditions to the Scheme. Following satisfaction of these conditions, the hearings of the petition to the Court to sanction the Scheme and to confirm the related capital reduction are expected to take place on 4 March 2015 and 6 March 2015, respectively.

Subject to the Court sanctioning the Scheme and the satisfaction of certain other conditions, it is expected that the last day of dealings in, and for registration of transfers of, Fortune Oil Shares will be 3 March 2015 and that the Scheme will become effective on 9 March 2015.

Settlement

If the Scheme becomes effective on 9 March 2015, it will be binding on all Fortune Oil Shareholders, whether or not they attended or voted in favour of the Scheme and the Special Resolution at the Court Meetings and General Meeting.

If the Scheme becomes effective on 9 March 2015, payment of the Cash Consideration to Fortune Oil Shareholders will be made by 23 March 2015.

del44
13/2/2015
17:27
We are no more....Overwhelmingly passed...
Binding on us all now...

del44
13/2/2015
14:53
There has been no share price collapse...so I am wondering if the scheme got voted through??....:-)
del44
13/2/2015
14:28
once again the daily T states what is obvious to all!
another 'nothing new' day!

mutantpoodle
13/2/2015
14:24
Looks like the market got it right

Dec 18, 2012
From Tempus....Telegraph
On yesterday's deal for FTO

"The market does not trust Fortune Oil. That is the only conclusion to be drawn after yesterday’s $400 m sale of its natural gas business in China, Tempus believes. Why? That asset sale will leave the company with approximately £100m in cash in the bank and a stake in Hong Kong listed China Gas worth another £280m. To those assets one can add several others and yet the company´s market capitalization is now just a little above £200m. The market’s problem is a deep mistrust of a company regarded as exposed to the ups and downs of the Chinese economy. Its fans, such as Malcolm Graham-Wood at V

lexus880
13/2/2015
13:15
same here but the institutions will probably have been sounded out already and a yes vote looks the one for the money
tel5
12/2/2015
23:24
Voted no with my holding but I'd expect around 90% approval
bam bam rubble
12/2/2015
11:52
Hi all

Well after pondering on it for a couple of weeks I have finally decided to sell my holding in FTO. It was only 90k which I got 9.79 for, so only £200 difference between that and holding out for the 10p ( as I cant see the 5p extra happening ).

For me it was down to the uncertainty that might happen should it get voted NO, and I would rather have the cash in the bank. I cant complain as I am well up on what I paid initially ( around 3p in the late 90s ), and have bought and sold on the highs and lows odd times.

I do hope for people with larger holdings that are voting NO and looking for a better deal do get one, for me this is now one less thing to worry about !!

Will keep looking in to see how its going for you all.

All the best

T2

t2
12/2/2015
11:16
Funny my first wife said that
johnives
12/2/2015
10:28
Thanks John, further moral? take the cash on offer here, and 'move on'. I firmly intend to (do both). ex
exel
12/2/2015
08:59
Very interesting "nut case" trial in South Korea. Here all major businesses are family owned (including Samsung) by chaebols. Apparently the owners daughter ordered a plane to turn around when she threw a wobbly.

She got 12 months and their society has started to question whether this is the way to do business ongoing.

Meanwhile he who pays the piper calls the tune. Sound familiar. There has been much talk of honour with FTO but as the man said "there is no such thing as honour in business". Moral of the story? Asian stocks are risky

johnives
09/2/2015
07:42
yes on high volume as well.
godin
09/2/2015
07:38
CGH having another good day at the moment.....
del44
08/2/2015
19:23
they all seem to have different deadlines according to their systems.
tel5
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