Lochard Energy Share Discussion Threads

[sea7] 08/5/2013 10:20

do not forget that hendersons took 20 million shares in the placing in jan 2012 at 7p. That must have brought their average down considerably.

[therealdeal5] 08/5/2013 10:05

I reckon they will want to stuff gardner as there is no love lost there obviously, but what will Henderson let this go for? how much does this company actually owe them in hard cash terms? i know 10p has been mentioned in the past, but it's probably more like 7-8p now with all the buying they have done of late, i am well in profit but i would like to see at least 8p a share here for my investment/returns.

GLTA

[utrecht_00] 08/5/2013 10:04

realdeal- I believe their average is 9p. So you would have to think they would act in their own best interests and get a deal thats profitable for them and us.

[therealdeal5] 08/5/2013 10:00

Guys that's all fine & dandy but what does it all mean? are we in a vulnerable position with Hendersons or not? they hve us all over a barrel, they ousted the old management, they can do whatever they like now, we are mere spectators here,

[falklands] 08/5/2013 09:55

UT there are a few oilies now on aim with over 30% interest they have to sign an agreement not to do a hostile bid themselves but have to agree to be in line with management both agree they want to sell lhd within next 12 months

[utrecht_00] 08/5/2013 09:51

Sea- thanks- should have read the RNS properly.

[wbodger] 08/5/2013 09:48

Comparing it with the previous TR-1 HGI have added 4,764,000 shares. I suppose from another Insti. Wonder who?

(Edit: Ignore. Re-reading sea7's post answers me.)

[sea7] 08/5/2013 09:43

from the rns.

The change to the percentage of voting rights held by Henderson Global Investors relates to the change in fund manager of "Henderson Value Trust plc" (formerly SVM GLOBAL) as announced on 6 February 2013. Given that the increase in shareholding is due to a transfer in of funds under management to Henderson Global Investors,the Takeover Panel has agreed on an ex parte basis that
this transfer has no Rule 9 consequences for Henderson Global Investors.

[utrecht_00] 08/5/2013 09:39

This is what the company stated back in September when it put itself up for sale

"The Takeover Panel has granted a dispensation from the requirements of Rules 2.4(a), 2.4(b) and 2.6(a) of the City Code on Takeovers and Mergers (the "Code") such that any interested party participating in the formal sale process will not be required to be publicly identified as a result of this announcement (subject to note 3 to Rule 2.2 of the Code) and will not be subject to the 28 day deadline referred to in Rule 2.6(a), for so long as it is participating in the formal sale process."

I don't know whether the above rules exempt a company which acquire 30% from making a bid.

Otherwise its game on.

[utrecht_00] 08/5/2013 09:35

taken from the takeover code of which LHD is under. This could be interesting.

"When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced (30% of the voting rights of a company is treated by the Code as the level at which effective control is obtained)."

[utrecht_00] 08/5/2013 09:32

Falklands, I was under the impression that under the takeover code any company that acquired over 30% was required to make a full bid for the company?

[therealdeal5] 08/5/2013 09:14

Just as long as Athena keeps flowing this is looking strong, we are in a far better place that Trap with Athena, i say that because we don't make any repayments if it stops flowing, but Athena loses it's cash cow & still has Financial obligations where as we have none now with the de listing of ASX, we are now ring fenced on spending & will have cash building up from here on in at a decent rate each month, could/would Hendersons want to own this company it's not what they do, they will want another company to take control & sit with shares in the new company, Hendersons are not oil men.

[falklands] 08/5/2013 08:59

Henderson adding is confidence about the balance sheet and the number of bidders in the formal sale progress.

UT also reduces 10p average to 9p around the hoped for takeover price

[utrecht_00] 08/5/2013 08:57

Real deal, does seem like Hendersens could be up to something.

[therealdeal5] 08/5/2013 08:09

utrecht i believe that as well, it seems between them they can now make a move on the company, let's hope we don't get stuffed here, Hendersons Parkmead is my fear, as TC does like to steal a company like they did with DEO, i would like a decent return on this now, but i can't see a cash offer coming for us from anywhere, i hope i'm wrong but i see more shares heading our way if i'm being honest,

[utrecht_00] 08/5/2013 08:05

Here and there. Lhd is under the takeover rules currently.

[therealdeal5] 08/5/2013 07:55

Well that's good news i hope, it seems they have enough why would they want more?

With jamie Brooke & henderson being more or less the same person it would seem they own almost 60% of the compoany, so what is going on here? will they make a bid for the company? i guess they will continue to add until they get to 60%, as the Aussies sell Hendersons will buy i imagine, it doesn't seem to take the share price up any when we get an RNS like that which is a great RNS,

Major Shareholders
Shareholder Type Amount % Holding
Henderson Global Investors Limited - 89,182,577 29.84
Jamie Brooke - 86,651,883 28.99
R J Barby Esq - 19,880,671 6.65
Gardner Marketing Party Ltd - 17,528,421 5.86
H L Gardner - 16,428,422 5.50
Seren Capital Management Limited - 14,002,000 4.69
Director Holdings
Name Type Amount % Holding
Mike Rose - 3,781,570 1.27
Peter Youd - 40,000 0.013

[utrecht_00] 08/5/2013 07:23

Yep. Don't they now have to bid?

[here and there] 08/5/2013 07:21

it sure is, they continue to accumulate....good news

[bomfin] 08/5/2013 07:18

Is that Henderson's over 30%?