Ithaca Energy Share Discussion Threads

[hew] 01/3/2011 17:14

Bill,

Yes, I too wonder what is going on. As a private Co. I don't suppose there are any restrictions imposed re such matters.

On the basis of the improving financials and international opportunities, I'm in no rush provided that we do get a fair deal in the end. I must say that given a decent cash offer, I would be minded to accept, rather than continue holding under new ownership.

[biggest bill] 01/3/2011 09:44

Hew, that is quite a disturbing post.

It is taking a very long time for any bid to arrive. In fact, this is the longest period of time I have ever waited for a proposed bid to materialise or be abandoned.

[hew] 28/2/2011 18:57

A thought provoking piece in IC for 18 Feb, p22.

In answer to a letter, it seems entirely legal for an unquoted company to squeeze out holders with only a few shares by the strategem of voting a large ratio consolidation. Example is NRG going for 10,000:1. Any holding that thus becomes less than single share is forced to accept whatever price the directors care to offer.

I trustingly believe that the calibre of our directors is such that any such grossly immoral procedure would not be contemplated, particularly given that I expect those of us still holding have supported the Co for many years.

If a buyout does happen though, it may be as well not to discount the possibility in respect of any new owners

Sorry to raise a disconcerting thought - better forewarned though!

[johnamill] 15/2/2011 16:06

That's exactly what i've been doing dd776, though it is a virtual mattress of course. I just hate not knowing what's happening, I don't feel in control of my investment at all. Let's hope there is good news downstream anyway!!
Cheers

[dd776] 14/2/2011 08:45

just keep the shares under the mattress for a rainy day. Happy valentines day

[biggest bill] 10/2/2011 16:11

There is nothing new on the Itis Holdings website. Presumably, talks are still going on. If the discussions had finished without result, an announcement would almost certainly have been made.

[johnamill] 10/2/2011 14:41

All went very quiet on this one of late.....anyone with any info at all??

[biggest bill] 14/12/2010 14:48

I see that the interim results are out. The profit for the first six months of the year came in at just under one million pounds which is a big improvement on last year.

"Discussions are now continuing with a number of parties" regarding a possible offer. It certainly sounds as if there are at least two possible bidders for the company. This sounds quite promising; a bit of competition for the company might result in a reasonable offer being made.

[sydney4] 25/11/2010 15:08

Thanks for that - I'll start holding my breath in the morning !

[biggest bill] 25/11/2010 13:43

The last two interim results were announced on 18/12/09 and 26/11/08. So the results should be announced in the next three weeks.

[sydney4] 25/11/2010 11:47

B B So what's the answer about interims any ideas ?

[biggest bill] 25/11/2010 11:05

I see that the company has made an announcement about the resignation of its international business director. No mention of any bid.

[sydney4] 24/11/2010 17:42

Is there anybody there... ! Any knowledge about interims date ?

[sydney4] 22/11/2010 09:54

Presumably bound up in the as yet unannounced interim figures - due when? November/ december.

[biggest bill] 19/11/2010 16:06

Well, that's now two months since the company announced that preliminary approaches had been made; not a word since. Of course, if discussions about the price of an offer were taking place right now, the company might not be legally allowed to say anything.

Possibly, the silence is good news. If the approaches had been abandoned, the company would have announced this.

[hew] 25/10/2010 11:16

Let's hope the current lot are equally keen to hang on.

[biggest bill] 25/10/2010 10:51

According to the Manchester Evening News on 15th September, there is more than one interested party and they appear to be trade buyers. This is good news because some competition would certainly increase the value of a bid.

[jab118] 23/10/2010 12:23

any news on the bid front anyone ?

[hew] 01/10/2010 12:29

Bill, A meaningful price requires some liquidity. Is anyone trading now? If you do call for a price, please ask re buys and sells since the bid possibility was announced. I suspect no sales! Hence no buys! I'm sure you will post whatever you find out though - and I might be entirely wrong! After all, I'm prepared to sell at 100p now. Offers?

[jab118] 30/9/2010 17:00

Bill,

I think you need to phone the broker, to get the correct share price. I phoned him a while back, now can't find the number, think I rang Itis holdings and the secretary gave me the number. He was very helpful and said I could ring at any time for the latest price..

[biggest bill] 29/9/2010 11:29

I have looked at J. P. Jenkins website for Itis Holdings. The only price quoted is 11.5p. This is an old price and I cannot find any recent share trades at all for Itis Holdings. I don't believe for a second that I can buy shares at this price; nobody in their right mind would sell shares at this price.

[jab118] 29/9/2010 09:08

Hi chaps

Has anyone phoned the house broker recently as to what the price the shares are trading at ?

[hew] 29/9/2010 09:03

Bill, unfortunately I agree with you entirely.

It's tricky to convey a tongue-in-cheek tone in brief posts!

Let's hope any approach is rejected now and look to a far stronger trading position actually realised in the next year or two.

[biggest bill] 28/9/2010 12:30

Hew,

I am not that optimistic about the level of any bid. This sounds like an opportunistic bid by someone chancing their arm trying to get the company on the cheap.

[hew] 27/9/2010 09:30

A few posts back I suggested we should be looking for 100p/share from any bid. After reading the AGM report I now regard that as the minimum acceptable!

However I hope there is no bid for another twelve months at least; should the international prospects develop as the Statement hints, we should then be looking for 200p!