Gulf Keystone Petroleum Share Discussion Threads

[urals] 20/4/2020 10:58

https://t.co/cd69rAFs8lPEEL HUNT BROKERS ANALYSIS :BUY :  TARGET 287PThe business is currently having to withstand a volley of unforeseen negative developments, the combination of which has caused the share price to fall -60% in the past month. However, GKP's financial discipline in recent years has ensured the business today is in good health and is therefore in a strong position to weather this period of increased volatility. Having now moved to update our asset model to factor in new production expectations and Shaikan capex phasing over the coming years, our DCF analysis still shows considerable upside to the share price. Our Core NAV for GKP now sits at £622m, equivalent to 287p/share (from 345p). This is where we also choose to set our target price and therefore maintain our BUY RECOMMENDATION .https://t.co/fMaubyPbslhttps://t.co/cd69rAFs8lPEEL HUNT BROKERS ANALYSIS :BUY :  TARGET 287PThe business is currently having to withstand a volley of unforeseen negative developments, the combination of which has caused the share price to fall -60% in the past month. However, GKP's financial discipline in recent years has ensured the business today is in good health and is therefore in a strong position to weather this period of increased volatility. Having now moved to update our asset model to factor in new production expectations and Shaikan capex phasing over the coming years, our DCF analysis still shows considerable upside to the share price. Our Core NAV for GKP now sits at £622m, equivalent to 287p/share (from 345p). This is where we also choose to set our target price and therefore maintain our BUY RECOMMENDATION .https://t.co/fMaubyPbsl

[urals] 20/4/2020 10:58

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[tess_tickle] 20/4/2020 10:48

DNO ORDER MENU NUMBER 100 AGAIN AT THE GKP CHINESE TAKEAWAY

[urals] 20/4/2020 10:40

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[urals] 20/4/2020 10:40

https://t.co/cd69rAFs8lPEEL HUNT BROKERS ANALYSIS :BUY :  TARGET 287PThe business is currently having to withstand a volley of unforeseen negative developments, the combination of which has caused the share price to fall -60% in the past month. However, GKP's financial discipline in recent years has ensured the business today is in good health and is therefore in a strong position to weather this period of increased volatility. Having now moved to update our asset model to factor in new production expectations and Shaikan capex phasing over the coming years, our DCF analysis still shows considerable upside to the share price. Our Core NAV for GKP now sits at £622m, equivalent to 287p/share (from 345p). This is where we also choose to set our target price and therefore maintain our BUY RECOMMENDATION .https://t.co/fMaubyPbslhttps://t.co/cd69rAFs8lPEEL HUNT BROKERS ANALYSIS :BUY :  TARGET 287PThe business is currently having to withstand a volley of unforeseen negative developments, the combination of which has caused the share price to fall -60% in the past month. However, GKP's financial discipline in recent years has ensured the business today is in good health and is therefore in a strong position to weather this period of increased volatility. Having now moved to update our asset model to factor in new production expectations and Shaikan capex phasing over the coming years, our DCF analysis still shows considerable upside to the share price. Our Core NAV for GKP now sits at £622m, equivalent to 287p/share (from 345p). This is where we also choose to set our target price and therefore maintain our BUY RECOMMENDATION .https://t.co/fMaubyPbsl

[urals] 20/4/2020 10:40

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[tess_tickle] 20/4/2020 10:38

HIGHER GRADE OIL BRINGS IN MORE REVENUE DURING LIMITED EXPORTS

[habshan] 20/4/2020 10:32

A meeting was held yesterday in Baghdad between the KRG and Iraqi oil minister Thamir Ghadhban to discuss and agree production cuts in line with the recent OPEC+ agreements.

So the focus of development appears to have now swung towards gas.

"the destructive economic impact of the coronavirus appears to have brought the two parties closer, as they further agreed to develop Kurdistan Region gas fields to be used to generate the electricity needed to fill the country's shortfall.

“We provisionally agreed to develop the gas fields in the Kurdistan Region in a way that benefits both sides and helps with generating electricity,” KRG finance minister Awat Shikh Janab said in the press conference.

Baghdad will send a delegation to Erbil to negotiate further investment in the gas fields and to hammer out the technical details that will allow the agreement to proceed, Ghadhban said.

Kurdistan Region gas fields have already seen moves made to increase their capacity in recent times"

Stuart Catterall has already told us that if circumstances were different and the gas infrastructure more developed then it may make more sense not to reinject but to sell the gas, and now we have Baghdad sending a delegation to Erbil to discuss investment in and development of that infrastructure.

From the last Ops update 4 weeks ago:-

"The gas management plan now envisages the export of sweet gas instead of gas reinjection. This follows the results of the SH-9 well,

A revised Field Development Plan ("FDP") is currently expected to be submitted this year, reflecting the new gas management project. Upon FDP approval, planning will commence for FEED ("Front End Engineering and Design")."

There's a lot going on.

hxxps://www.rudaw.net/english/middleeast/iraq/190420202

[urals] 20/4/2020 10:27

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[urals] 20/4/2020 10:27

https://t.co/cd69rAFs8lPEEL HUNT BROKERS ANALYSIS :BUY :  TARGET 287PThe business is currently having to withstand a volley of unforeseen negative developments, the combination of which has caused the share price to fall -60% in the past month. However, GKP's financial discipline in recent years has ensured the business today is in good health and is therefore in a strong position to weather this period of increased volatility. Having now moved to update our asset model to factor in new production expectations and Shaikan capex phasing over the coming years, our DCF analysis still shows considerable upside to the share price. Our Core NAV for GKP now sits at £622m, equivalent to 287p/share (from 345p). This is where we also choose to set our target price and therefore maintain our BUY RECOMMENDATION .https://t.co/fMaubyPbslhttps://t.co/cd69rAFs8lPEEL HUNT BROKERS ANALYSIS :BUY :  TARGET 287PThe business is currently having to withstand a volley of unforeseen negative developments, the combination of which has caused the share price to fall -60% in the past month. However, GKP's financial discipline in recent years has ensured the business today is in good health and is therefore in a strong position to weather this period of increased volatility. Having now moved to update our asset model to factor in new production expectations and Shaikan capex phasing over the coming years, our DCF analysis still shows considerable upside to the share price. Our Core NAV for GKP now sits at £622m, equivalent to 287p/share (from 345p). This is where we also choose to set our target price and therefore maintain our BUY RECOMMENDATION .https://t.co/fMaubyPbsl

[urals] 20/4/2020 10:27

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[tess_tickle] 20/4/2020 10:25

GKP shares continue to fall a week after launch of Open Offer





Norwegian oil exporter bids on GKP
Shortly after the announcement of the restructuring plan, Norwegian oil exporter DNO ASA made an offer to buy GKP for $300 million, conditional on the successful completion of the restructuring plan. The offer exceeds the companies likely post-restructuring valuation by $50million.

[chinese_takeaway] 20/4/2020 10:08

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[chinese_takeaway] 20/4/2020 10:07

https://t.co/cd69rAFs8lPEEL HUNT BROKERS ANALYSIS :BUY :  TARGET 287PThe business is currently having to withstand a volley of unforeseen negative developments, the combination of which has caused the share price to fall -60% in the past month. However, GKP's financial discipline in recent years has ensured the business today is in good health and is therefore in a strong position to weather this period of increased volatility. Having now moved to update our asset model to factor in new production expectations and Shaikan capex phasing over the coming years, our DCF analysis still shows considerable upside to the share price. Our Core NAV for GKP now sits at £622m, equivalent to 287p/share (from 345p). This is where we also choose to set our target price and therefore maintain our BUY RECOMMENDATION .https://t.co/fMaubyPbslhttps://t.co/cd69rAFs8lPEEL HUNT BROKERS ANALYSIS :BUY :  TARGET 287PThe business is currently having to withstand a volley of unforeseen negative developments, the combination of which has caused the share price to fall -60% in the past month. However, GKP's financial discipline in recent years has ensured the business today is in good health and is therefore in a strong position to weather this period of increased volatility. Having now moved to update our asset model to factor in new production expectations and Shaikan capex phasing over the coming years, our DCF analysis still shows considerable upside to the share price. Our Core NAV for GKP now sits at £622m, equivalent to 287p/share (from 345p). This is where we also choose to set our target price and therefore maintain our BUY RECOMMENDATION .https://t.co/fMaubyPbsl

[chinese_takeaway] 20/4/2020 10:07

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[tess_tickle] 20/4/2020 09:51

DNO OFFER, THE ONLY OFFICIAL ONE

[chinese_takeaway] 20/4/2020 09:48

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[chinese_takeaway] 20/4/2020 09:48

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[chinese_takeaway] 20/4/2020 09:47

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED . 

[chinese_takeaway] 20/4/2020 09:47

https://t.co/cd69rAFs8lPEEL HUNT BROKERS ANALYSIS :BUY :  TARGET 287PThe business is currently having to withstand a volley of unforeseen negative developments, the combination of which has caused the share price to fall -60% in the past month. However, GKP's financial discipline in recent years has ensured the business today is in good health and is therefore in a strong position to weather this period of increased volatility. Having now moved to update our asset model to factor in new production expectations and Shaikan capex phasing over the coming years, our DCF analysis still shows considerable upside to the share price. Our Core NAV for GKP now sits at £622m, equivalent to 287p/share (from 345p). This is where we also choose to set our target price and therefore maintain our BUY RECOMMENDATION .https://t.co/fMaubyPbsl

[chinese_takeaway] 20/4/2020 09:46

https://t.co/cd69rAFs8lPEEL HUNT BROKERS ANALYSIS :BUY :  TARGET 287PThe business is currently having to withstand a volley of unforeseen negative developments, the combination of which has caused the share price to fall -60% in the past month. However, GKP's financial discipline in recent years has ensured the business today is in good health and is therefore in a strong position to weather this period of increased volatility. Having now moved to update our asset model to factor in new production expectations and Shaikan capex phasing over the coming years, our DCF analysis still shows considerable upside to the share price. Our Core NAV for GKP now sits at £622m, equivalent to 287p/share (from 345p). This is where we also choose to set our target price and therefore maintain our BUY RECOMMENDATION .https://t.co/fMaubyPbsl

[tess_tickle] 20/4/2020 09:44

DNO OFFER OF 100 PENCE LOOKS GOOD

30% PREMIUM

[chinese_takeaway] 20/4/2020 08:43

#GKP Sale implementation agreement made June 2019.Buyers China =Beijing based new CFO.Buyback ended 3/13 with $50m buying 19.6m sh = 8.54% shares which took out major shareholder of 2016 Restructure Capital pre agreed terms Straight after 3/13 to 1/4 in just 2 weeks Lansdowne buy further 2.1m shares and JPMorgan +4.65 mDeal incoming

[chinese_takeaway] 20/4/2020 08:43

GKP AND BUYERS implementation agreement Jun 2019, hence buybacks, and CFO change, were conditions of the agreement, EXECUTION of the agreement announced shortly. Initial ApproachThe first step in the scheme process will typically involve the bidder approaching the target with an indicative offer to propose a scheme under which bidder would acquire 100% of target.Due DiligenceIf the target is amendable to the bidder's offer, the target will typically grant the bidder a period of due diligence (either on an exclusive or non-exclusive basis) so that the bidder can confirm its interest in the target and the amount of consideration to be offered by the bidder.Scheme implementation agreementBEFORE the scheme proposal is PUBLICLY ANNOUNCED , the bidder and the target will typically enter into a 'scheme implementation agreement' which: sets out the terms of the scheme and commits the bidder and the target to the scheme transaction;obliges the target to propose the scheme to target shareholders, and to ensure that the target directors recommend that target shareholders vote in favour of the scheme in the absence of a superior proposal; andsets out how the bidder and target will work together throughout the approval process.( New buyers CFO) The scheme implementation agreement will typically contain 'deal protection mechanisms' such as:'no shop', 'no talk' and 'no due diligence' obligations on the target to seek to prevent the target from proactively generating rival bidders;a notification and matching right for the bidder to be notified of and have the opportunity to match any third party offer for control of target before target directors may recommend that third party offer to target shareholders; anda break fee (generally not exceeding 1% of the equity value of the target) payable by target to bidder if a third party is successful in obtaining control of target or if the target directors change their recommendation to vote in favour of the scheme in certain circumstances.The scheme is typically publicly announced for the FIRST time when the scheme implementation agreement is EXECUTED .