Lochard Energy Share Discussion Threads

[utrecht_00] 23/5/2013 11:04

wbodger, they could do a deal similar to the one when the acquired VPP.

[wbodger] 23/5/2013 10:59

"control over 60%" GS is correct, it would make a mockery of the market if it were the case.

If James Brookes' holdings was additional to HGI etc, and he declared opposition the bid would be dead. If he declared in favour it would be a fait accompli, and TC would say so. This is still about mustering 25% opposition.

The share price is below 4.9 pence because the market is protecting itself - no-one wants PMG paper and if it goes through there will be a giant overhang (11.1% dilution!), not because there is no chance of a counterbid.

To match this bid with paper of their own IAE would have to dilute their shareholders less than 4%. More likely they would make a cash-alternative offer which would also suit those shareholders who want PMG paper, because they could use that secured cash to arbitrage the overhung PMG market.

PMG would fight back against an IAE response with an improved offer. Not near what has been mooted here, but better than this.

[giant steps] 23/5/2013 10:34

Therealdeal5, do you understand the reminder as noted below ?

Your understanding of Jamie Brooke and Henderson's holdings is a nonsense.
You have double counted - do you agree ?

Using your rule they would control over 60%, and that is not the case.



Reminder

"
Whilst none of the Lochard Directors are directly interested in any Lochard Shares, Jamie Brooke, a non-executive Director of Lochard, is also an employee of Henderson Global Investors Limited. Funds managed by Henderson Global Investors Limited and Henderson Alternative Investment Advisor Limited are interested in 93,926,577 Lochard Shares, representing approximately 31.4 per cent. of the issued ordinary share capital of Lochard. Parkmead has received irrevocable undertakings from Henderson Global Investors Limited and Henderson Alternative Investment Advisor Limited to vote, or procure the vote, in favour of the Scheme and the resolutions at the Court Meeting and the General Meeting in respect of such 93,926,577 Lochard Shares, representing approximately 31.4 per cent. of the issued ordinary share capital of Lochard.
"

[utrecht_00] 23/5/2013 10:33

realdeal- its down because the 4.9p is tied to the shares of PMG when they were 12.5p or whatever the deal is, LHD will now rise or fall in line with PMG's price.

[utrecht_00] 23/5/2013 10:32

realdeal- good question, part of me would like to vote no just based on the economics but I'm guessing without a counter bid that could throw LHD into turmoil. The other half thinks vote yes, as once a deal is closed there's a reasonable chance PMG could rise and I can get to breakeven (I need 6p in old money) so say PMG to hit 14.5p, which I think it could easily do.

[therealdeal5] 23/5/2013 10:27

What i can't get my head around is why are Lochard lower than the offer price parkmead have made? anyone got any answers? normally a company goes up on anticipation that another BID could well come in, are they assuming no other bid will come in by holding this down? or are they trying to mop up shares cheaply to cement the deal?

[therealdeal5] 23/5/2013 10:23

How will you be voting if asked?

[therealdeal5] 23/5/2013 10:20

utrecht i agree, there is the possibility very slim but still possible that it could get blocked, maybe the Ex CEO smelt a Rat and was trying to top up but got locked out, i said he wasn't Privy to any info that the board was doing on this deal, i do think it's shocking how they have acquired this company outing the old management to get this under their belt, as a PMG holder i do feel you have been robbed blind, i suspect Athena is a going to be a GREAT play for the future, i also said people know just how large this field is, why else would a nwely formed company buy into this with so much cash available to them? Spike Explortion is more than it seems i reckon, who are they working with or for?

[utrecht_00] 23/5/2013 10:12

realdeal- yes that thought has crossed my mind. However, how would Hendersen's who forced him out react? There's a pretty good chance that 25% could vote no.

[therealdeal5] 23/5/2013 10:05

What you need to ask yourself is can the EX CEO better the offer? will he want to? are hendersons banking on this? i doubt it, i warned that hendersons work very closely with Tom Cross, they need 75% of shares, what do they hold right now 40%? i don't get why it has fallen to be honest lower than 4.9p as any other company would go higher on the possibility of a higher Bid, but this has been rigged i'm afraid to say, hendersons have total control here, GLTA

[giant steps] 23/5/2013 10:03

utrecht, certainly seems to be some strength in PMG s/p,
now 12p bid offer 12.25p and folk happy to pay premium
(observe trade 81,038 @ 12.26p)

The "0.385p conversion rate" may well have a suction effect on LHD
(currently 4.5p-4.75p)

[cwa1] 23/5/2013 10:01

FWIW, I'm a big fan of TC BUT I think PMG paper is, to be polite, very fully valued, so to take an all paper offer from PMG at below the prevailing market quote is very disappointing.

Again, FWIW, I think this deal will go through and the choices are to get out or take the PMG paper ahd hope ole Tom can weave some magic(which is not beyond the bounds of possibility!).

Hendersons must be completely in awe of TC/happy to digest a mountain of PMG paper with a longer term view as the deal, on the face of it, certainly doesn't look attractive for them.

[utrecht_00] 23/5/2013 09:55

The realdeal, you have sold out so enough please.

So 4 scenarios- deal goes through, deal collapses, counter bidder or TC sweetens the deal.

We will be range bound now and tied to PMG's share price This looks a good deal for PMG so once things have been digested we may see PMG's share price rise and drag LHD up with it.

[falklands] 23/5/2013 09:53

Yes giant but profits would be over cap by end of year pe 1 I heard there is going to be a battle over this lots unhappy

[falklands] 23/5/2013 09:51

Mmm the fruits cakes gone mad cheered me up on a frustrating day.

[therealdeal5] 23/5/2013 09:51

I could go on but i won't he is a Moron, he has no clue how to read markets or how to trade, i feel sorry for his family if he has one, he must be losing their money hand over fist, pmsl, now you can all see what a tool he is, hence why he has now put me on IGNORE for the 2ND time, pmsfl

Falklands you TOOL!!!

[giant steps] 23/5/2013 09:51

I agree utrecht, focus on the company.

[giant steps] 23/5/2013 09:50

Falklands, shame they became overstretched as the dual approach of services
and exploration looked an exciting business model - just got messy with Zeus.

Hendersons will need to go into the market to complete the deal imo.
(watching for announcements)

[falklands] 23/5/2013 09:50

Indeed UT only need 26% to stop this at the AGM !

[therealdeal5] 23/5/2013 09:50

Falklands - 03 Apr 2013 - 08:19:12 - 979 of 1483
Alex yes core nav is 13p Re trap it's fully valued however the main point is we are all here for full takeover of lhd where it be next few months or six months all the other north sea oilies have large costs and at present not going to be taken out.

Is funny how trap in debt now and no one mentions it.

[therealdeal5] 23/5/2013 09:49

Falklands - 03 Apr 2013 - 12:08:36 - 1010 of 1482
Bitter no I am not playing games on here the bottom line let the Market decide on trap and lhd which you and your trap posters give forth on lhd thread

Falklands - 03 Apr 2013 - 10:58:53 - 1001 of 1483
Rapier your playing games as others I have a feeling your on twitter.

Even Paul Curits did an interesting article on fool oil companies thread on what the outcome of trap would be medium term if trap next exploration is a duffer cough aey experience anyone ?

As for lhd debt it's reducing and hardly no one wants to sell at the present even the ex CEO of lhd is buying in, more to the point I tried three times to top up and there are none about in volume.

Falklands - 03 Apr 2013 - 10:19:23 - 987 of 1483
Frankly trap boys go back to your own thread if it's so brillant you don't need to come and rubbish lhd.

You always seem to start a fight again over trap look at YOUR share price what is it with you lot non of us go and rubbish on trap thread even if we have views ?

We can all stay here and wait for a nice big pay day takeover while what have you got ? Duff well no takeover and lots of aey type prospects.

[utrecht_00] 23/5/2013 09:49

So, if its 75% to get the deal through, then with Gardner and a few others this deal could be stopped.

BTW lets stop the bickering on this site as there is important stuff to debate please.

[therealdeal5] 23/5/2013 09:47

Falklands - 03 Apr 2013 - 16:40:58 - 1021 of 1482
Bomfin shut up please we agreed to disagree in the last message Hours ago can you move on playing games ?

Core nav of trap is 13p go figure concord cut it's target but I am fed up of talking about trap which you seem to bring up as we agreed let the Market decide.
I feel trap posters should mind their own bloody business and post on their own thread period you lot must be more worried than I thought on this duffer well to try and make lhd posters sell and put their money in trap.

[therealdeal5] 23/5/2013 09:47

Falklands - 04 Apr 2013 - 08:14:03 - 1033 of 1477
What are you on about pmg all the time ? They have no cash left we have been through this before there are several private companies about.

[therealdeal5] 23/5/2013 09:46

Falklands - 04 Apr 2013 - 08:54:52 - 1035 of 1477
There deal please dont over react reread my last post and no I never posted on lse try twitter under another name.

All I ment was if you look pmg has limited cash on last updated RNS so how are they going to buy lhd by diluting themselves by a significant percentage?