Serica Energy Takeover Rumours (SQZ)

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Serica Energy Takeover Forum Posts

30-11-2018
But the effective date for the takeover was 1st Jan, today was the completion date.
But it’s not our tax. It’s notional because before the selling company’s financial year is over they can’t actually calculate what the attributable tax actually was...Basically BP etc will be paying taxes on these income streams; which they are notionally calculating and then deducting before giving us our cash. I had understood this not to be necessary as technically BP etc haven’t earned that income this year - we have. But it looks like for this year prior to the reverse takeover date; the taxes are attributable to the original organisation.I don’t expect this to be the case from this point forward; as the cash comes to us directly and is taxed as such (after our payments back to BP etc)
26-11-2018
May not be able to trade SQZ on 30 Nov unless relisting is immediate... (see RNS) As the BKR Acquisition constitutes a reverse takeover under the AIM Rules, admission of the Ordinary Shares will be cancelled on completion of the BKR Acquisition ("Completion") expected on 30 November 2018. Application will be made for 264,757,819 Ordinary Shares to be re-admitted to trading on AIM on or around 30 November 2018.
20-11-2018
Lord Gnome - no, my post is/was in broad agreement with what you wrote. I don't see it as feasible at all that Serica can get a FTSE listing - especially while under AIM rules for the reverse takeover. My point about listing on other exchanges is that at one point, Serica were dual listed in Toronto as well as AIM in London - they voluntarily delisted in 2015 to both save money and streamline their brokerage efforts. My question therefore is whether Serica would countenance a return to TSX or another foreign exchange to make themselves more marketable?
19-11-2018
Some folks on the other board are convinced that Serica will make a move to the FTSE index once the BKR deal completes. However, reading the admission document, it appears that AIM Rule 18 & 19 specifies the generation of 3 reports, June 2019, Sept 2019 and June 2020.My initial thought would be that if Serica have to provide these reports as a result of the reverse takeover, they can't very well leave AIM while under the auspices of its rules, can they?I do however recall that we were listed on the Toronto stock exchange for a while. Is a listing on another exchange a feasible outcome to attract investors?
16-11-2018
It mentioned a reverse takeover??
20-09-2018
Re SDX what a novelty - a reverse takeover of BP assets - shares suspended pending publication of an admission document - now where have I heard all that before!!! (hold quite a few of them for me given my diversification strategy ;0) http://uk.advfn.com/stock-market/london/sdx-energy-SDX/share-news/SDX-Energy-Inc-Recent-press-speculation/78298830
13-09-2018
The reverse takeover deal outlines that BP are funding the cost of the R3 workover in exchange for a greater share of any production increase. The longer it takes to build and flow R3 - the smaller BP's share is.
20-08-2018
Lol fardels, no, not American. Mold is my phones mistake. On another related note, reading through the RNS and agreement over BKR, it's not beyond the realms of possibility that even though OFAC don't issue a license waiver that the handover will still occur, albeit under different terms to those laid out in the reverse takeover proposal. The longer the handover process churns on and it approaches its climax, I can't see either party backing out, even though lack of an OFAC license is termed a red line. In other words, I still see this deal going through, either with a waiver as planned or a modified deal without one. BP can't afford to hang onto a jointly owned asset that will attract sanctions enforcement, and with £10bn freshly invested in the US shale business, it beggars belief that they'd scupper that instead of tailoring a deal to suit serica. Just all my own thoughts, as always, DYOR.
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