Hydrodec Share Discussion Threads

[petoil] 07/11/2013 13:41

Yes the dilution is correct.But you have had to buy 76.7% more shares to remain pro rata shareholding.Firm placing of 1 for 12 shares(8.33%).So you would have to buy extra 68.4% in excess placing to maintain % holding.

[capricious] 07/11/2013 13:13

If I recall the previous share capital was around 422M, so the enlarged amount of 746M, does end up with dilution of approx 43%

[petoil] 07/11/2013 12:59

Thought it was 43.4% dilution from placing news.But seems to be 76%.
So if you did not buy 76 % more shares your % holding in company is reduced.

[dirty75] 07/11/2013 12:45

that's the whole point of administration, isn't ?!?!?

[capricious] 07/11/2013 11:21

www.insidermedia.com/insider/north-west/102254-creditors-set-miss-out-oss-admin

[capricious] 07/11/2013 11:03

So it seems there were no 'extra shares' as I first thought. I can't understand the distinction between 35 million and 17 million in the excess, mentioned in the previous RNS?

It's confusing because I actually talked to Peel Hunt and I asked about the 35 + 17 million, and that was confirmed

Scaling aside, it's great news, if previous open offers are anything to go by, with a defined profit path, it should now give a boost to the share price longer term.

[dirty75] 07/11/2013 10:57

Brilliant news on the over subscription but naturally annoying that you don't get want you want and now having to buy a few more with the resulting refunded proceeds (not that I've had them back yet) from the over subscription in the open market at 13p+.

[mortimer7] 07/11/2013 10:52

Good news that there has been an over subscription, albeit from a selfish viewpoint it's tempered by not getting the quantity I hoped for.

[alanrussell] 07/11/2013 10:45

60.2% allocation of additional applications. That suits me rather well though I'll have to buy a few more to get a round number - hate holding odd numbers of shares, mental maths is hard enough!

[capricious] 07/11/2013 10:38

Results out, oversubscribed


I must confess I'm a little confused, I thought there were 35 Million + 17 million that Mr Black put into the pot for excess. So 49 million is under that?

[capricious] 07/11/2013 10:05

I thought the same, maybe the accounts are not updated, but the broker has knowledge that the clients will receive the full amounts.

There was one poster who I presume didn't take up the offer, as they ranted that we were all fools and denigrated management, at Hydrodec and OSS.


I had wanted twice the extra I applied for, but due to my broker being useless, things got messed up, I'll be pleased if I get my full request, but peeved at the same time.

[alanrussell] 07/11/2013 09:58

I am not sure how shares can be allocated before the motions are passed at today's General Meeting.

I have applied for a very considerable quantity of additional shares rather expecting the allocation to be scaled back. If indeed such applications are met in full I will become a distinctly nervous shareholder!!!

[capricious] 07/11/2013 09:47

I think from what has been said on other boards, posters have received there full requests. Anyone else have theirs, but then I'd expect that would've been posted here.

I did some analysis of previous open offers, take up of the fixed ranged from 7-95%. Excess requests most often exceeded supply, which I would expect as those taking up the fixed are more likely to want more.

The difference here is that Hydrodec offered 'extra shares' in the excess, the others I looked into, only offered those not subscribed for in the fixed.

Share price post offer was generally positive in the short term. Even those that saw the share price drop to the open price, which obviously would lower the take up.

Those that saw a rise after the offer announcement, performed best post offer, probably as you'd expect.

Oil based companies had the most oversubscribed excess element, but again they did not make any 'extra' shares available.

I don't know why the decision was made in Hydrodec's case, but I like to think that the board and Mr Black had the interests of the small investor to mind.

[sueyou1] 04/11/2013 20:03

Could be a Flagpole and Pennant forming on the chart, the end of the Pennant would be end of 2013, so I will keep an eye and post the chart if it progresses.

[capricious] 01/11/2013 21:22

My broker has the cash, but no allocation, well I have but it's a huge amount (placeholder) simply set by admin, which is the exact figure if you minus my request... which means I was the only one to do the open offer through my broker.

[eclair] 01/11/2013 16:56

Thanks both.

[tongosti] 01/11/2013 16:25

absolutely - capped at £4m

[chorister] 01/11/2013 13:40

--> eclair - try reading the RNS. The allocations will be announced on 7 November and the open offer will be capped at £4m

[eclair] 01/11/2013 13:38

--> Chorister.

In a way I hope you are right and our applications are scaled back - at least that would mean there is a high demand.

The Open Offer is to raise up to £4m - does anyone know if it is strictly capped at that? If we all subscribed for £5m, could they actually decide to raise that amount instead?

[tongosti] 01/11/2013 11:17

checked my stockbroking account and my account has not been debited yet.

themariner - did you receive the letter confirming the amount you oversubscribed for? if so, what % of your initial excess subscription did finally get?

thanks a lot

[chorister] 01/11/2013 10:28

I think you will find that your accounts have been debited to cover in case you get everything you have applied for - if you look at the timetable of events (the last RNS) you will see that the actual allocations will be announced on 7 November, after a General Meeting.

[themariner] 01/11/2013 10:14

I too seem to have had my full request fulfilled, and I applied considerable additional stock. Happy days!

[eclair] 01/11/2013 09:57

Just noticed that I got my full additional allocation that I applied for. At least the money has disappeared from my account (can't see the actual shares yet!).

[luminoso] 31/10/2013 13:37

Big trade at mid price gone through in last hour. I thought someone should break the radio silence !