Global Natural Energy Share Discussion Threads

[ken123rose] 16/1/2009 11:21

richgit:

Please tell me something 'pirate' Ratcliffe has done to enhance the share price during his short tenure.

If you see a buyback at circa £1.90, with the RNS stating:-

the Company is intending to purchase ... at the middle market
closing prices for ..the five business days .. immediately preceding etc

why is he taking almost positive steps to drive the price down if he wants to give us £1.90?

My conclusion, he doesn't.

-------

Is there anything to prevent GNE3 investing all it's cash in Microgen where the pirate has a bigger holding?

[richgit] 16/1/2009 11:12

To make my stance clear---

I too would rather have received my £2.80 per share which we would have got
if everything including the remaining assets had been sold,and all the money
given back to us.... ..

However I currently am just accepting the inevitable,as we were doing with
the GNE2 idea.

We are not going to get our £2.82 as I am sure some large shareholders truly
back Mr R.
So I am only trying to see things in a positive light based on "what is".

Thus the "what is"--- is that you can currently buy £2.80 (when the remaining assets are sold off-
for £1.90.If that was for cash we`d all say "No brainer"

I reckon Mr R is going to turn that £2.80per share into £3.50 easily unless he is a total crook,and judging by what Microgen may achieve,I dont see a problenm,in fact with the right moves the £2.80 may be worth a multiple,if he gets this right.At a later date when we finally know our assets £ per share,
some commentators may just say- GNE3 is a total no-brainer with huge potential,
as some have had good opinion of MR R in the past.

Like many-if I lose my nerve I can sell.


Kooba- Yes thats my point,those that dont sell become owners in a Company
with now even less shares,and as many will possibly have been bought back
under the asset value- ie discount to their cash value- our shares are worth More

and in fact closer to my £3.50 target which looks a walk in the park.(or should do)

The rest is down to the so called Market and Mr R grabbing a potentially exciting Company,yet truly undervalued purely because of the stupid Banking situation.

In the coming months his opportunities are going to be plentiful,whereby you could
pick up good potential Cos that have been purely stricken by frozen overdrafts,far
below their true worth..

[richgit] 16/1/2009 10:49

Model,

I truly understand some of the angst,on the basis we were looking forward to the divi of £1.50 and the assumption that GNE2 (Petrol stations again or similar)would have eventually(hopefully)have turned our £1 balance into £2 or £3 in years to come.

There was of course the inevitability that some would have imediately become bored with GNE2 and the ludicrous yet possible scenario that some would have dumped their stock leaving the £1 cash per share being valued at 40per share in the shorter term.

Thus many smaller & impatient PI`s would have "possibly" considered a total of £1.90 as the scenario for clearing off,and I daresay that is still the scenario
for some.

On the basis that the now new GNE3 will have cash assets of minimum circa £2.80 per share and then the possible buy-back that may let some PI`s get their £1.90 - for those taking the shorter term option)

I dont see a lot of difference other than some of us would have happily taken £1.50 and let the rest ride,though I have no doubts some would have started dumping once they got the divi.

Why does nobody believe that GNE3 wont in fact turn circa £2.80 of cash assets (at this point)into possibly more than GNE2 would have done- I dont see why not.

Mr Cronk bought some more at £1.95 when it was seemingly apparent that the divi plan was dumped,so maybe he believes GNE3 will be truly exciting,yet on cash
its a no brainer for now.

In conclusion_I always saw (before the bid)the chance of getting outof GNE1 at £3.50 -so if my divi was £1.50 I would have held the rest until they were worth £2.00

Now I have to hold until GNE3 turn (currently) cash of £2.80 into £3.50 and
of course for the Market to value at £3.50

That doesnt look too difficult,and in fact who knows that the so called Market
wont take a liking to what GNE3 will eventually be offering when all is
sorted out.Maybe £3.50 will be peanuts)

Would I buy into an investment strategy that was based on £2.80 cash per share?
Why not, if I liked the story-and even moreso if the so called Market valued that cash asset of £2.80 at less !!!!!!!!

If the buy back takes place and several accept circa £1.90 then the company is buying £2.80 for £1.90 and as a shareholder that seems fantastic.Those that sell wont think so,but if they want to sell £2.80 for £1.90 thats their decision.

The rest of us will then have a stake in a co with very few shares around
that will be worth even more pro-rata to any stock bought at the discount to cash.


All assuming there are no crooks.

[model635] 16/1/2009 10:09

I can't see GNE2 being on any buy list the problem with arrogant self-interested management is no serious money will back them.Why would it?The new boys have made it quite clear that their efforts and ambition are only for their own reward.Unless some David comes along with a lucky sling shot I guess all we'll see over the coming months is a gradual price erosion.What a different story it could have been if our board had done their duty and liquidated the company following the sale of 92% of its assets.

[model635] 15/1/2009 19:08

Shame Cronk doesn't post his views he must feel cheated

[model635] 15/1/2009 19:06

kooba - it means that when the company buy back the shares Ratcliffe and concert party holdings will because of the dilution go over 30% which force them to bid for the company.They don't want to do that because that would mean giving shareholders true value.So they'll apply for an exemption.

[chrismez] 15/1/2009 18:17

Glad I didn't give up the day job last year and in fact right now I'm glad that I've got a job.

Just come home from work to what is without doubt the worst, the most crude, the most conceited, the most obviously deceitful and shameful RNS i think I have ever had the misfortune to read.

Think about the words : "The company hopes to be able to issue an update in due course"

Not by end of the month or say within six weeks BUT "IN DUE COURSE"

Just appalling - absolutely awful language. Looking at it another way, the company seems to be questioning its own ability to issue any updates from hereon in.

I agree with those on here who spotted the obvious threat contained within it re insurance which the company simply doesn't need. When those petrol stations were sold caveat emptor applied and doubly so since the purchasers took so damn long doing due diligence and examining in minutiae every last detail at every last gas station. They bought knowing the risks etc etc.

I wouldn't be surprised if Ratcliffe's catchphrase is "Greed is good"

Prepare yourselves Gentlemen because we're about to be raped.

[kooba] 15/1/2009 17:48

not too sure what this means in release today,

"In addition the Circular will, amongst other matters, seek the approval of
shareholders for a waiver of the obligation under Rule 9 of the City Code on
Takeovers and Mergers to enable the Company to buyback in the market up to 15
per cent. of its issued authorised share capital. It is intended that up to 5
per cent of such authorisation will be used to provide liquidity for small
shareholders"

so 10% of the 15% is not being used to provide liquidity for the small shareholders..not sure how that works as any straight forward market purchasing would be open to all sellers to participate if they so desired. maybe a deal for the company to buy 10% from vaiman as a sweetener for voting with the boarding party may well be what we see which would have no market impact,they were mean't to have made a buyer for that holding and failed so this would be a way of placating him.he will expect at least 190p so we may well see the shares nudged up to that level to enable the transaction...if i'm correct all very slippery.

[goml] 15/1/2009 16:58

model, completely agree with the points you make today.

[model635] 15/1/2009 16:48

Richgit - I have little doubt that GNE2 will make a good long term investment but then again so will most of the market on a 5 year view.There was no need for Racliffe to include a "spoiler" in the RNS.He's got control on the cheap it wouldn't have hurt his long term ambitions to let the "small shareholder" have a decent exit.Greed and deceit are not great qualities to attract a following.

[zoo123] 15/1/2009 16:48

The way the Banks are going Mr Ratcliffe could buy one...............

[richgit] 15/1/2009 16:39

We all have to make decisions,and I was looking forward to the divi,however
I can see that the return "could" be far above what I expected from GNE2.

However considering some have been paid 190p and Mr Cronk last paid 195p
for some more stock-I cannot see any logic in selling at these levels.

I am contemplating buying some Microgen stock as overall it looks well run
and its core investment appears to have a rather good future potential,plus
Microgen has a healthy cash balance.

Considering the view is to list on the Main Market with all the cash that will
be at hand, I am looking forward to the ride on the basis that Mr R just may
pull off some coups in a battered Marketplace with some potential bargains
purely due to the stupidity of the general Bank situation.
All will note he has already tested a couple of bids yet has sensibly held to his maximum offer prices,and may well get other opportunity as some will
no doubt yet succumb from the Tortoise attitude of the Banks,as opposed to truly
being dead in the water operations.

IMHO (naturally),unless someone finds any true flaw in the argument,and I daresay my risk will be whether MR R turns our Cash assets into a multiple -
longer term of course.

[model635] 15/1/2009 15:33

Currypata Kai - Well if he really cared about the share price he wouldn't have tried to spook the market with the enviromental liability rubbish

[currypata kai] 15/1/2009 15:06

although as a big holder he obviously has a lot to lose if he doesnt perform ?

[model635] 15/1/2009 14:35

GIOVANNINA - I believe one of the proposed names for the new company is "We Shaft You PLC" and the business model is based loosely on "Northern Rock"

[giovannina] 15/1/2009 14:27

so let me get this straight...we r f######.....again..:0(

[kooba] 15/1/2009 14:21

currypata kai.you are correct, unfortunately the discount to nav and the large offers of stock in the market do not reflect well on investors confidence in mr ratcliffes ability to turn 280p+ cash into something worth more.this lack of support should encourage mr ratcliffe and co to liquidate the company and take a turn on their holding...but it will not.

[model635] 15/1/2009 13:49

No I think he's an opportunist with scant regard for shareholders rights or interests.The share price since he announced his involvement speaks volumes for what the City thinks.Hes only been involved a few weeks and we're already down more than 10%!

[currypata kai] 15/1/2009 13:30

so let me get this straight...one will get shares in a technology investment trust at possibly 40-50% of possible nav(if they do buybacks at this level)...doesnt seem like a good time to sell....Do you think Martyn Ratcliffe is a reliable manager ?

[model635] 15/1/2009 13:23

Currypata - unfortunately nobody wants to!

[currypata kai] 15/1/2009 13:17

one can buy a full 20k at 168

[model635] 15/1/2009 13:06

On reflection I think that big trade first thing was yet another transfer.We should get an RNS in the next couple of days.Looks like the MMs are getting tired of all the small sells.

[model635] 15/1/2009 12:12

Ratcliffe's attempts to keep the share price low by talking of possible enviromental liabilities speaks volumes for his attitude to shareholders.Such issues would have been high on the agenda when Petrol Express was sold and there will be no ongoing liability, it is purely and simply an effort to stop shareholders getting true value.I'd love to see investors with deep pockets crank the share price fast and high and teach our pirate boarders a lesson.