Rockhopper Exploration Share Discussion Threads

[buffit1] 27/6/2022 16:08

rns June 15.

[gaffer73] 27/6/2022 16:08

Apologies, I've just checked HL and you can buy more.

[gaffer73] 27/6/2022 16:05

Which RNS?

[trop2] 27/6/2022 15:35

Just arrived, am i intime for AGM? Id's a bit soggy lol mustapha dover

[gozzie2] 27/6/2022 15:26

Then WHY are you HERE?????

[gozzie2] 27/6/2022 15:15

HalifaxROCKHOPPER EXPLORA - OPEN OFFERROCKHOPPER EXPLORA is proposing an Open Offer on the following basis:1 Open Offer Unit for every 8 Existing Ordinary shares held at an Issue Price of 7 pence per Unit.Each Unit comprises of 1 New Ordinary share and, for every 2 Open Offer shares subscribed for, 1 Open Offer Warrant.In addition to this, you may apply for excess units. If you wish to apply for excess units then you must enter the total quantity of units you wish to apply for, e.g. if your basic entitlement was 100 units and you wished to apply for 20 excess units, then you would enter 120 as the total quantity of shares required.

[buffit1] 27/6/2022 15:14

Arlington - you are correct. Anything else need clarifying?

[arlington chetwynd talbott] 27/6/2022 15:02

But the RNS says "The Open Offer will include an excess application facility to enable Qualifying Shareholders to apply for additional Units in excess of their entitlements under the Open Offer."Additional "Units", not additional "shares".

[gozzie2] 27/6/2022 14:47

All I know is I am buying my allocation.I will get half the number again in warrants.They are only worth something if they get over 9p lolSimples

[gaffer73] 27/6/2022 14:36

"1 Open Offer Unit for every 8 Existing Ordinary Shares held by Qualifying ShareholdersEach Open Offer Unit will comprise one Open Offer Share and, for every two Open Offer Shares subscribed for, one Warrant." That's my understanding.

[trop2] 27/6/2022 14:33

5th covid wave on the way,geezer here waving a monkeypox hankie lol pike dover

[arlington chetwynd talbott] 27/6/2022 14:09

In that case AJBell and Interactive Investor have given me the wrong impression. If you are saying that the warrants attached to Open Offer shares are ripped off when unclaimed shares are thrown in the excess bucket, they do NOT make that clear. At all.

[gaffer73] 27/6/2022 14:06

"Yes, but as I explained you sell additional existing shares to go after excess shares on top of your entitlement, thereby increasing the amount of warrants you are allocated. In theory you could cash 250k shares out entirely, take your entitlement and add additional cash to get as much of the excess as you can, ditch all the ordinary you end up with and have 250k warrants! In theory anyway." You can't buy excess open shares, you can only buy 1/8 of your original holding. You could sell all ordinary shares and buy back to your original holding accounting for the free warrants though.

[gozzie2] 27/6/2022 14:03

I've taken the warrants, as I have to get as many shares to average down that my dad gambled on lol.This now doesn't have to get anywhere near 88p to get the money back.

[gozzie2] 27/6/2022 13:58

And there will be plenty as godders apparently has millions and no cash for anymore lol.

[arlington chetwynd talbott] 27/6/2022 13:47

One thing I like about an excess facility is that those shares end up in the hands of folk who, rightly or wrongly, really want them.

[gaffer73] 27/6/2022 13:46

Ahh I see what you mean. Should have sold last week!

[arlington chetwynd talbott] 27/6/2022 13:42

Yes, but as I explained you sell additional existing shares to go after excess shares on top of your entitlement, thereby increasing the amount of warrants you are allocated. In theory you could cash 250k shares out entirely, take your entitlement and add additional cash to get as much of the excess as you can, ditch all the ordinary you end up with and have 250k warrants! In theory anyway.

[gaffer73] 27/6/2022 13:30

You only get one open share per 8 ordinary and one warrant per 2 open shares. If you had 250k shares you'd only have 31250 shares and 15625 warrants.

[gozzie2] 27/6/2022 13:12

Exactly. A no brainer .That's the majority of this board lol.

[arlington chetwynd talbott] 27/6/2022 12:33

Thanks. So the current offer (entitlement and excess) will be the only way of getting hold of the warrants. What may be happening here is a bit of risk management. Folk could be selling some or all of their existing shares to pay for their entitlement shares and what they reasonably think they can get by way of excess shares. This would maximise their warrant allocation and at a 9p exercise price and with a duration that should cover the OM result and some significant decisions by the partners, the allocated warrants would give them most of the upside but, being essentially free, none of the downside.

In theory you could convert a holding of 250k ordinary into 200k ordinary and 50k warrants, taking some of your capital off the table but still having almost all the upside. There may even be a tax angle for some folk.

Of course the whole idea is less attractive if you cannot get reasonably close to 7p for your existing shares.

[trop2] 27/6/2022 12:27

Nowt wrong wiv dat laddie lol pike

[buy2sell1] 27/6/2022 11:10

The Rockhopper Warrants will NOT be admitted to trading on AIM or on any other stock exchange.