Pan Euro Share Discussion Threads

[smokyjoe] 30/10/2013 13:36

BTC/PAN has zero history of returning shareholder value - people keep pointing out that 22p is a derisory offer yet, in the absense of any concrete impirical data or announcement from PAN to dispute this value, 22p is as reasonable an offer as any. I agree with fellow investors, the offer appears derisory based on various ASSUMPTIONS and will, hopefully, be denounced as such but the longer this silence from PAN continues the more credibility it gains.

Yes, Friday will see news, it has too, but once again PAN is leaving it until the 11th hour before commenting. "Dont sell your shares" is all they've said, fair enough but why should we support a company who have done f--k all to support our interests over the years...it just sounds like a desperate plea to me.

OK, rant over. No doubt many will have a different view of things to me and I apologise to any i may have offended but this really gets me heated up.

Smoky - by name and by nature

[mark1000] 30/10/2013 11:26

Why R the board so quiet and is there a link to the Chairman and FD`s exit are they part of the coupe? or did they see this coming and did not like the smell. Hope this is not a case of PI`s being thrown to the wolves when deals are already in place to break up the assets with short term funding supplied by the likes of Alpcott + Hurley surely my mind is wandering I am being paranoid but lack of communication from SE does nothing to reassure me.

[oli12] 30/10/2013 09:28

I hope the company will update us tomorrow pre EGM.(although most of the votes will have been cast) I assume PAN will recommend we REJECT this low ball offer of 22p (unless we have lost Rosbunker)...

Assuming they recommend we reject the offer (I could be wrong) I guess the company is very confident it has enough support from Utilico and other holders in order to vote down the conversion of the Loan Note...

I am surprised that they have not issued pre EGM advice as to convert the loan to shares is IMO giving the company away....

[pantastic] 30/10/2013 08:10

That's pant-tastic!

[king of bongo] 29/10/2013 20:58

M&S undies dept. sold out.

[silverlandfinance] 29/10/2013 10:49

AAA
Agreed with what you state.
I am taking a similar action

[aaainvestment] 29/10/2013 10:07

Well I've cast my votes, in view of the lack of guidance I must vote against the BoD's earlier recommedation on both points, I'd sooner carry the debt and even take part in a placement than give my shares away at 22p.

I suspect the BoD could be between a rock and a hard place over this, eager to get rid of the debt but not wanting this bid to progress - so I'd sooner kill it and wait a little longer to sort out the debt.

I reckon Mr E doesn't realise the resolve of the remaining shareholders to stick with PAN, he must feel betrayed by major shareholders.

[king of bongo] 28/10/2013 22:11

Has AAA really sold out as pantastic suggests, and invested in M&S instead? What IS going on?

[king of bongo] 28/10/2013 20:53

Have our management finally worked out what their/our company is worth yet? Have they found the pocket calculator simply isn't up to the job? Have they been forced to order Excel to try to work it all out? What is going on?

[aaainvestment] 27/10/2013 08:06

KATKEL12 - don't take offence at anyones comment, it is merely one opinion and there are lots of other posters and I suspect even more casual readers that appreciate all reasoned comments.

Everyboby (many in for the long haul) is a little concerned at the moment - the tension on this BB is nothing compared to other boards when some companies are under threat.

Lets not forget who the enemy is!

[yobstol] 26/10/2013 21:06

Registered my vote on Friday to my Broker.

NO to both resolutions :)

[katkel12] 26/10/2013 02:14

Smokingjoe

It Is quite clear to me that you have very little knowledge of how the Stock market works. I came on here to share advice but you reply with a totally offensive response. ( and no factual input on PAN )So i'm out of here and my only advice to you is stick to the Gambling machines in your local Pub as that is how you are only going to be a success. Good luck..IAN

[bangers for bucks] 25/10/2013 23:09

44p and at that Dell boys ad me over..

[pantastic] 25/10/2013 20:28

Indecent Proposal.

According to the 1993 Robert Redford film "Indecent Proposal", everything has a price. Remember the script? IMDB helped me out...here goes...

David: I guess there's limits to what money can buy.
John: Not many.
Diana: Well some things aren't for sale.
John: Such as?
Diana: Well you can't buy people.
John: That's naive, Diana. I buy people every day.
Diana: In business, maybe, but you can't buy people not when real emotions are involved.
John: So you're saying you can't buy love? That's a bit of a cliché don't you think?
Diana: It's absolutely true.
John: Is it? What do you think?
David: I agree with Diana.
John: You do? Well let's test the cliché. Suppose... I were to offer you one million dollars for one night with your wife.

Ok.. so what is Pantsy going on about?

Well...according to Belphar Limited, PAN's price is 22p per share. Twenty two new English pence.

Without the share conversion and assuming no further issues of shares, we have 106,325,110 shares in issue (not a lot by AIM standards) and that means the price of PAN according to this one cheeky chappy is £23.39m. Just over 23 million quid.

The acquisition RNS for Dan Balt (before recent pump improvements) stated the rebuild cost to be $42m (current exchange rate, £26m). Just for something identical to the original Dan Balt, not our improved Dan Balt and not with a business attached to it with deals from Oil Majors and Monjasa. Just this one asset - £3m more than what Belphar are offering for Dan Balt, PBI, Baltic Top and our half share of Rosbunker (regardless of what you think the status of that is - we all differ on that one).

Myself and also, hopefully, many other long termers here value the whole company somewhat higher than £23m even without Rosbunker sorted out and possibly without Rosbunker existing at all.

Don't post your answers here, it's your own business, but I imagine we all have a price per share where we would walk away and take the money. Or a nice lump sum to disappear. Imagine that, a PAN discussion board without my relentless witless banter. I have a price, you have a price. If we are absolutely honest.

For me it's waaaaay above 22p per share. Just think about that if you're thinking recent news is not a big deal or this attempt to vote against the share conversion is not worth doing.

22 pence = £23 million for the lot. Many PIs and institutions will come out with a loss, and many of those people will have taken the risk and the rough and the smooth hoping to bag many thousands of pounds or tens of thousands (or in the case of some instituations MILLIONS of pounds worth of profit).

Have a think about what your price is - per share or bottom line walk away figure. If you're not voting or don't care or are happy with 22p - is that really your price?

Everyone has a price.

[pantastic] 25/10/2013 18:28

Noticed 75k sell at 20p. Strange.

[aaainvestment] 25/10/2013 17:39

smokyjoe - you certainly are smokin today, remember that our interests are aligned (most of us a least) to simply get the highest return possible on our investment. I personally think voting against the resolutions and winning is entirely plausible, bearing in mind the potential bidder still doesn't have the loan conversion shares, only 35% ish

I really can't tell anyone which way they should vote, but today I rang both my brokers to ensure my votes could still be cast on Monday. I favour hearing the BoD response if at all possible, as they advised doing nothing, if I dont get more advice I will vote against, I will probably even vote against even if they do issue a statement.

Incidentally, everyone should always expect surprises in these circumstances - it is a fight and queensbury rules don't apply, dirty tricks prevail.

Even if the votes go in favour of conversion, IMO all is not lost. Who knows, the potential bidder may even want us to vote against the resolution in order to retain a highly lucrative loan, as once approved they either don't exercise and are seen to be a paper tiger or exercise and make a bid - then they get 0 interest on the loan, have shares upto their eyeballs, no BoD representation and the company is immediately in a strong position to raise cash elsewhere to clip their wings.

I also recall that if someone mounts a bid and fails then they have to sell down - stalking a company post bid is not acceptable - I think they need 90% acceptances to force us to sell. Does anyone in the know care to advise?

[pantastic] 25/10/2013 17:31

No need for such rudeness surely?

They need 75% to get share conv so hopefully other institutions will make 20-25% and us PIs tipping the balance in our favour.

Giving up without trying is silly.

[pantastic] 25/10/2013 13:26

Its up to smokey what he does but those wishing to help try stop this can vote using our instructions. It is not for us to suggest how to vote.

Maybe 22p is fine for some just like some people buy Citroens. Personal choice. Some people enjoy losing maybe?

[katkel12] 25/10/2013 12:34

Smokey
Let me try and explain it like this. You have 4 working days left before the G/M
at which a vote will be taken ( and if won ) will allow Belphar Ltd to gain control and launch a Bid which will in fact be able to buy your Shares at 22p each.
If / when Pan sell Rosbunker ( which will be before April 2014) your Shares will double in price, can't you see why Mr K Shakhidi is doing a hostile move

Smokey I suggest you go and read the last few RNS'S and work it out yourself.
If you can't see what is happening.
I did write earlier don't leave it to every body else.
Please don't come on here next Fri afternoon bleating "we have been ripped off why didn't somebody do something about it "
Over to you

IAN