Lochard Energy Share Discussion Threads

[giant steps] 24/5/2013 07:09

Reminder

RNS 24th May 2013 - Irrevocable Undertakings 41.4% - James Brooke not in the list

[giant steps] 24/5/2013 07:08

Reminder

RNS 24th May 2013 - Irrevocable Undertakings 41.4% - James Brooke not in the list

[wbodger] 23/5/2013 22:23

Here is the same story from TheScotsman:

[giant steps] 23/5/2013 19:20

Your reminder :



Giant Steps
21 May'13 - 07:53 - 1858 of 1870 0 0 edit

Therealdeal5, why do you persist to double count the same holding
re Jamie Brooke and Henderson Global ?



LHD Reminder from 12th September 2012



Note 1: James Brooke's interest relates to his position as investment manager with Henderson Global Investors Limited which holds 86,651,883 shares in Lochard

Therealdeal5
21 May'13 - 07:56 - 1859 of 1870 0 0

GS, how is it the same holding? please explain? numbers are totally different here, percentages are different, i spoke with TD Investments they have confirmed what i have said, so you are wrong. why do you persist to say it's the same holding?

[giant steps] 23/5/2013 19:15

Therealdeal5, i await your apology





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.
"

[wbodger] 23/5/2013 18:46

If that clown (trd5) is going to come back from a parallel universe every few minutes with another nutty opinion based on bizarre facts I rather hope this is concluded sooner rather than later. I don't think I can take much more of it!

Anyway to more sensible matters. There is no reason for IAE to play their hand too early. I always thought the first bid would be a low-ball. If TC gets LHD for peanuts fair play to him but if he plans to get to 75% by the end of June he has to get more than half of the shares he does not currently have. He needs another 35%, and the shareholders who don't want this only have to get 25%.

He has carefully reserved the right to make a Takeover Offer which would mean a proxy fight but presumably a lower majority. Doesn't sound too confident.

[utrecht_00] 23/5/2013 18:27

I know IAE were looking at LHD as well a few months back.

[wbodger] 23/5/2013 18:12

Idiot.

IAE is not Dyas. Edit your error.

[therealdeal5] 23/5/2013 18:08

your best bet is that previous management manage to get in a higher bid than 4.9p Gardner will want his company back by hook or by crook me thinks, lol but will he even get to get a bid in? I did say all the secrecy and back room deals were dodgy here, I also knew TC was pulling the strings here, it's how he works. Your best bet is Hayden Gardner gets his wallet out even 5 p is better than 4.9p lol would that buy it?

GLTA

[utrecht_00] 23/5/2013 16:48

Come on Ithaca. A shares and cash deal please. Would be happy with shares as they have a decent portfolio.

[giant steps] 23/5/2013 16:02

Reminder of the deal


LHD 4.9p vs PMG 12.625p, conversion rate 0.385
(298,865,616 Lochard Shares for £14.5m)
So shares required to be issued by PMG is about 115m

PMG ords 921m (@ 28MAR 2013)


So PMG forecast dilution is about 12.5%


Current prices : LHD 4.75p-5p, PMG 11.75-12p
LHD conversion equiv 4.52p-4.62p (using 0.385)

[kev0856153] 23/5/2013 15:44

Falklands
14 Jan'13 - 09:34 - 39 of 1513 1 0

Yep the thicko mob are selling lhd getting blocks back just with a new operator.

Cannot understand in under three months time offer on the table.

Best to not look every day this week and come back

[giant steps] 23/5/2013 15:34

Great - thanks for the updates

[falklands] 23/5/2013 15:30

Cheers few city mates tweeting me on chrisoil twitter iae bid rumours on the cards.

we going to proxy fight Tom !

[wbodger] 23/5/2013 15:21

Its a very small break fee. Probably just PMG's assessment of how much they have spent on schmoozing.

(Thanks for #1507, F)

[utrecht_00] 23/5/2013 15:08

maybe there will still be a counter offer here.

[giant steps] 23/5/2013 14:12

hendersons will simply have to pay 5p+ in the market to get control imo

edit : perhaps Haydn Gardner has a plan.

[falklands] 23/5/2013 14:10

yes i phoned round and iae are interested still imo hence why no ones really dumped shares today

[utrecht_00] 23/5/2013 12:19

Agree with IAE's watchest it would not make a dent. Interesting times ahead.

[wbodger] 23/5/2013 11:18

Ut, I always thought the structure of the VPP deal was about JEC. IAE could have offered more paper if they'd wanted, but JEC would just have used it to increase their holdings of IAE.

IAE could offer all cash here, and simply absorb the balance of the Gemini debt, or if they think JEC has gone away, all paper. Or most likely a cash-alternative paper offer. It still looks awfully cheap for Ithaca to increase their share of a good field.