Ithaca Energy Share Discussion Threads

[thegreatgeraldo] 05/5/2017 09:33

Why?

From the initial RNS announcing the takeover,

.."Take up and payment for the shares is subject to a minimum tender condition that requires more than 50% of the common shares being deposited pursuant to the Offer (excluding common shares already owned by the Delek group) (the "Minimum Tender Condition"). There is no obligation on Delek to undertake any form of subsequent acquisition transaction to acquire the remaining common shares of Ithaca. "

[bulltradept] 05/5/2017 09:14

Can they really do that?

I don't hold, and was lucky trading it yesterday, but surely they need to take the existing shares from everyone who didn't take the offer.

[hopeful holder] 04/5/2017 21:42

I was lucky and sold mine during the offer on the open market so was able to re invest elsewhere. I feel sorry for anyone who are now caught in this sad tale.

[jonals] 04/5/2017 18:26

Famous poem by C P Cavafy. Perhaps he had some shares.

Keep Ithaka always in your mind.
Arriving there is what you are destined for.
But do not hurry the journey at all.
Better if it lasts for years,
so you are old by the time you reach the island,
wealthy with all you have gained on the way,
not expecting Ithaka to make you rich.

Ithaka gave you the marvelous journey.
Without her you would not have set out.
She has nothing left to give you now.

And if you find her poor, Ithaka won’t have fooled you.
Wise as you will have become, so full of experience,
you will have understood by then what these Ithakas mean.

[whiskeyinthejar] 04/5/2017 17:51

As I understand it, in uk a minority shareholder can force a bidder when they've acquired 90% to make an offer at bid price for their shares even after offer closes.



But Ithaca is incorporated in Canada so rules are likely different.

[bountyhunter] 04/5/2017 16:16

yes I'm expecting ~£1.10 at today's rate

[rk23] 04/5/2017 15:21

Im confused - what will we get the agreed price? Or is the new price 85p, Cheers

[bulltradept] 04/5/2017 14:17

Says it is "under no obligation to carry out a compulsory acquisition or subsequent acquisition transaction to acquire any Common Shares that were not validly deposited"

Really?

[whiskeyinthejar] 04/5/2017 13:59

Fall due to Delek announcing expiry of offer imo.

Says it is "under no obligation to carry out a compulsory acquisition or subsequent acquisition transaction to acquire any Common Shares that were not validly deposited"

[jm2009jm] 04/5/2017 13:43

why the sharp falls since 1.30pm ?
thanks in advance

[jimbobaroony] 04/5/2017 13:42

Bigdazzler,


I was accused of being a stooge for the company when I suggested was pointless to fight .

J

[bulltradept] 04/5/2017 13:26

Still possible to trade it!

[rogeka] 04/5/2017 13:06

1.95 Canadian dollars per share

[grumps] 04/5/2017 11:16

Does anyone know when the company will pay out for shares ?
Does anyone know what the payout price will be. ?

[whiskeyinthejar] 04/5/2017 09:03

I'll be interested to see what happens with Vorlich now. Drastic change in tone went from FDP is being developed, to BP have other options and hub strategy is a big risk.

[galeforce1] 04/5/2017 08:59

So farewell then Ithaca Energy.
I have known you many years.
Definitely seven. Perhaps more.
You have soared. You have slumped.
Your finale has underwhelmed,
But for all that I'm grateful to you Ithaca Energy
Over the years you have made me money aplenty.
Which is more than I can say for most of my junior oil investments!

TJ THribb (17
Apologies to Private Eye

[bountyhunter] 04/5/2017 07:05

now it is all over - Delek have 94.2% following the mandatory extension period

[bountyhunter] 03/5/2017 09:12

at the current exchange rate $1.95 CAD = £1.10 GBP

Of course anyone who knew that would happen could have made a fortune purely speculating on currency movements so that could not be foreseen.

[bountyhunter] 03/5/2017 09:05

gf, not so sure about 'clever' as if the rate had gone the other way or there had been a higher bid things would have been different, however it would have been a decent 'hedge' ;)
...I must now check my account just in case the cash is there as if it is already then I will have a pleasant surprise!
..
...no surprise for me - the shares have gone but there's no cash ...yet