Gulf Keystone Petroleum Share Discussion Threads

[gkp_over_100quid_at_takeover] 30/10/2023 11:59

There are often two agreements in the context of an amalgamation or merger. The main transaction agreement (the “Agreement and Plan of Merger/Amalgamation” (in the case of US transactions) or “Implementation Agreement” (in the case of English law transactions)), which will be subject to the law of the parties’ onshore counsel or the jurisdiction in which the company is listed or where the company conducts the majority of business, which sets out the terms and means of effecting the transaction and which will include comprehensive warranties, indemnities, conditions precedent, deal protection mechanisms (if any).
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When conditions are met deal is announced publically.
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In addition, a statutory merger or amalgamation agreement will also be used, which sets out that which is required to be approved by the shareholders under section 105 of the Companies Act.

[gkp_over_100quid_at_takeover] 30/10/2023 11:57

Not at all Sales implementation agreements are not disclosed.
When both sides are content that all conditionality has been met , the deal is announced.

[arcadian] 30/10/2023 11:55

Stranger things have happened but a contract for the sale of the company not even mentioned to the shareholders at the AGM is going a bit far. The City takeover Code would surely expect more open disclosure. An understanding maybe but "contract" is going too far.

[gazebo79] 30/10/2023 11:51

Another 101 in the pot. Did that to wake the Dog up.

[arcadian] 30/10/2023 11:22

Doctor and pseudonyms.

I don`t know how new to the fray you are but the current dilemmas are not new. For many here over the years GKP has become part of the family. To illustrate the long term nature of our quest I ask you to read what I wrote in TK`s time many years ago. Our faith is not new and our decisions not always good ones hence my call for patience.





Fabius Maximus taught us that the time to strike the enemy was when the enemy was weak or off guard.

The time to hit GKP will be when some perceived weakness can be exploited, not now when the share is strong.
When would you strike? What event or rumour will cause doubt and weakness?
How deep will the spike down be and how many will sell?

TK has given his St Crispin`s Day rallying cry to the ordinary investor especially as he seems to anticipate the efforts of the institutions to acquire PI shares in a tight market.
"And gentlemen in England now-a-bed
Shall think themselves accurs'd they were not here"
How many will still be here?
Fortunately recent evidence seems to suggest that many here are made of sterner stuff in that the early assaults have been thwarted and later reversed causing a shedding of shorting blood in a rising market.
GRH is right. Selling is not a neutral act and can have the effect of weakening the bargaining power of the BOD at any bidding table. PI votes could make the difference between £8 and £18 ps
GKP will have moments of perceived weakness and those moments will be waited for by those TK has in mind. Battles have been won but the final price war is still ongoing.
The bard warned us, "look like the innocent flower but be the serpent under it" TK obviously has read Macbeth as well as Henry V

[doctortakeover] 30/10/2023 11:14

Key condition

[highlander7] 30/10/2023 11:12

It could be that the HCL is one of the conditions.

[doctortakeover] 30/10/2023 11:04

HTTPS://twitter.com/ChicagoJack5/status/1718918478084604279?t=u-GLw8PDxAhRs0gAp39uQw&s=19

[hugetakeaway] 30/10/2023 11:01

Takeover by SGM vote I favour of mergerRequires merely a 50% majority to vote through.

[arcadian] 30/10/2023 10:54

I do hope that you are right and that the clouds clear sufficiently to give buyers more certainty as now is an opportune time when the share price has been hammered. The current price is low for a reason and we need that HCL to point a safer path to the future.

[hugetakeaway] 30/10/2023 10:43

A huge takeover obviously.The reason Baghdad is capitulating is because it is being demanded of them so the seven sisters can buy up the Indy's and FUND the GROWTH, as Iraq. can't afford too, and Europe post Putin needs it .

[arcadian] 30/10/2023 10:43

Section 102(1) of the Bermudan Companies Act provides that where an offer is made by a company for shares (or any class of shares) in a Bermuda company and, within four months of the offer, the holders of NOT LESS THAN 90% of the shares which are the subject of that offer accept it, the bidder can, by notice, require the remaining shareholders to transfer their shares under the terms of the offer

We need to look again at GKP Bye Laws on takeovers as they seem to be accepting The City Takeover Rules. The question of price and shareholder approval come into play and what we don`t know are the terms of any agreement should one have been made.At the moment its a definite possibility of a firm maybe so let`s not take it as read.
There are still too many unknowns and uncertainties epitomised in the HCL etc

[petebreeze37] 30/10/2023 10:39

Short position, walleye up 0.1%
and worldquant down 0.12%, total short 1.46%

[mmt1] 30/10/2023 10:35

Forget takeovers or any such thing. I want an agreement between the IOC's and Baghdad - and the pipeline to resume.. We have special dividends after - what more do we need?

[hugetakeaway] 30/10/2023 10:17

There are normally break fees + imo if they are in such an agreement it would explain why they haven't been able to make any in mkt buybacks for over 3 1/2 years.

[highlander7] 30/10/2023 10:07

A conditional sale is a type of contract for the sale of goods, where ownership of the goods does not pass to the buyer until after a set time, usually after certain conditions have been met. Although the buyer is committed to acquiring ownership.

[johnbuysghost] 30/10/2023 10:06

Accumulation continues.

[habshan] 30/10/2023 09:57

Somebody just bought 50,000.

[hugetakeaway] 30/10/2023 09:36

HTTPS://twitter.com/ChicagoJack5/status/1718918478084604279?t=u-GLw8PDxAhRs0gAp39uQw&s=19

[arcadian] 30/10/2023 09:16

Doctor and pseudonyms

I agree with your stance that buying now or at least buying some with a preparedness
to fill your boots does make some sense. We all have our own risk gauge and looking for the answer three. Potential buyers also have theirs as we wait for more certainty exemplified by the much proclaimed HCL etc.However seeing the mess they made handling the budget etc some of us are not yet prepared to to go all in.

We can agree that timing is everything and as Richard said " Now is the Winter of our discontent" and for several here that Winter has been particularly long.

[doctortakeover] 30/10/2023 08:35

Their own testing could only be done under a contractual , NDA basis.Cnpc did the work clearly in 2017/2018.I believe the SINOPEC approach in Dec 2016 that was never denied, led to the company's agreeing a "sales implementation agreement."That is normal in Bermuda M+A.When all conditions of that agreement have been met ( and the key one ICG legitimising the Kurdish PSC is imo now inevitable)the parties publically announce and formally complete the acquisition.

[sharesiq88] 30/10/2023 08:24

It’s looking a bit perkier this morning, ooh err, missus.

Can’t be long until some form of news, surely? Even if it’s just an update on local sales.

[highlander7] 30/10/2023 04:51

Yes any buyer would do their own due diligence and their own testing.

According to Simon Murray, the then CEO, they had 18 visitors to the original Data Room. So plenty of interest then , and probably now , as we edge closer to the HCL.