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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Sibir Energy | SBE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 174.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 174.75 | 174.75 |
| Top Posts |
|---|
Posted at 27/5/2009 09:41 by willessa From Telegraph - note the sentence about averting disaster for PI's. That's why I am glad to get this at £5.Gazprom offers escape route for Sibir investors Hundreds of private investors caught up in the corporate governance scandal at Aim-listed Sibir Energy have been offered a partial reprieve by Gazprom, the Russian state-controlled gas company. By Helia Ebrahimi Last Updated: 12:29AM BST 27 May 2009 Sibir Energy shareholders have been offered a partial reprieve by Gazprom Photo: GETTY IMAGES Shareholders are being offered 500p a share for their investments in the Siberian oil-field operator, valuing the company at £1.9bn. The UK-listed company's shares have been suspended since a corporate governance scandal broke in February. Gazprom had already bought up much of the remaining stake held by institutional investors, including Blackrock and M&G, by the close of trading last Friday as it increased its stake from 16pc to 27.5pc. Related Articles Russia's Gazprom to raise stake in Sibir to 29.9pc Platinum miner Lonmin poised for cash call TNK-BP loses out to Russia's Gazprom Neft in Sibir bid US investor Paul Capital limbers up for HBOS deal with Lloyds TSB Equity group 3i plans £700m rights issueOver the weekend Sibir and its advisers, Strand Partners and JP Morgan Cazenove, agreed a deal which secured the offer for small shareholders. The deal gives Gazprom a waiver on normal UK takeover rules requiring it to make a full approach for their holdings. A source close to the situation said that the eleventh-hour agreement had "averted a disaster for minority shareholders", who are believed to own just over 5pc of the company. The rest of Sibir's shares are thought to be owned by Russian investors. However, despite the huge premium to the 174¾p suspension price, the deal still falls short of last June's trading peak of 814p and saw investors angry at the demise of what was once the biggest company listed on Aim. Sibir's shares have not traded since its founder Henry Cameron stepped down and was later dismissed over controversial "unauthorised payments" relating to property deals with Chalva Tchigirinski, a major shareholder in the company. It emerged Mr Tchigirinski had borrowed $325m (£203m) from Sibir, rather than $115m originally disclosed. He sold real estate assets to the company in return for the money, but that deal later fell apart and Sibir is now suing the oligarch to return the cash he received. Sibir has been able to pay down $80m of the outstanding debt after an additional shareholding held by Mr Tchigirinski was uncovered by advisers and sold to Gazprom. When the scandal first broke, commentators cited it as an example of the sometimes dangerous and erratic nature of doing business in Russia. Major energy giants such as BP have been hit by political machinations in the country which have affected their business. The success of Sibir meant it had become an example for a raft of Russian oil, gas and mining companies which used the lightly regulated Aim market to raise funds. Gazprom's offer, made through its Neft oil arm, has been recommended by the board of Sibir, which is due to report annual results on Friday. Neft bought 16pc of Sibir in April after trumping rival TNK-BP, which had offered to buy the company in a £2.3bn deal last year. Sibir produces oil at the Salym field in western Siberia in a joint venture with Shell and operates a refinery in Moscow alongside Neft. If investors take up Gazprom's offer for their holdings, the deal would give Gazprom's operation control of the 200,000 barrels per day produced through the refinery. Mr Tchigirinski is understood to have fled Russia. |
Posted at 23/5/2009 14:03 by dougie471 i for one wont be rushing to bail out if they are relisted as you will wait to see the orice rise and maybe a time to top up. All articles seem to suggest Gazprom dont intend to cross the 30 percent threshold for takeover bid. (BUT WELL HAVE TO WAIT AND SEE ON THAT ONE-I THINK ITS A MATTER OF TIME)I know some pi's who sold there stake at £4 YESTERDAY MORNING.I tried to through my broker but they couldnt get hold of renaissance so we are locked in no for another while. The time surely will come when gazprom will make a move for takeover? does anyone know what percentage are in private investors hands? |
Posted at 23/5/2009 06:31 by enabler Copy of email that I have sent to the aim regulator, I will let you know if I get a responseAs an investor who purchased shares in Sibir Energy via the AIM market I am concerned that we are being treated as second-class citizens, although the shares are suspended, shares are being traded between institutions at £4 to £5 per share. (Price at suspension £1.74) A number of announcements giving details of the sale and purchase have been made via RNS and are well documented. It is very frustrating to see all this activity but unable to participate. Can you not insist that the shares are re-listed, or at least get the company concerned to make an announcement on when they will be re-listed? It is this type of situation that will put investors of buying shares through the AIM market and will do little to enhance your reputation. gwatson@londonstocke aimregulation@london cdorrian@londonstock |
Posted at 22/5/2009 15:23 by martinmulberry I have a horrible feeling that private investors are going to get stuffed. You cannot buy Gazprom Neft shares in the UK or on any European market - although you can buy ADR's on Frankfurt and Berlin.With Tchigirinski appearing to sell (some) of his assets to get out of trouble I suspect that Gazprom will acquire enough stock/form alliances to effectively control the company, manipulate the share price and essentially tell the PI's to take what may be on offer or be left holding on to shares for which there will be no real market. I hope I'm wrong but if not why hasn't Gazprom made an offer - because it wants to get Sibir on the cheap and it can do so because of our shareholders structure. |
Posted at 20/2/2009 12:20 by protean From today's FT Alphaville:Trading suspended after company reveals Tchigirinsky's debt to it three times higher than previously declared Topic: Trading in Sibir Energy shares was suspended yesterday at the company's requestafter it was revealed that the company had severely underestimated the key shareholder's debt to it. After the suspension, the company reported that it now believes Tchigirinsky owes USD 325mn to the firm, instead of the previously disclosed USD 115mn. No further explanation of the error was given, prompting wild market speculations. In addition, Sibir stated that the upcoming February 27, 2009 shareholders meeting will be delayed indefinitely while the company studies its ability to recover the debt and the reasons for the material errors posted in the circular to shareholders on 11 February 2009. Our view: While we await official disclosure on the course of events that have led to the emergence of the additional debt, we note that the amount due to the company falls in line with the total debt owed by Tchigirinsky to Sberbank. We continue to think that the debt pertains to his non-oil-related activities, although we cannot rule out that new circumstanceshave emerged, complicating the situation even further. Conclusion: The news confirms our previous cautious stance toward the company. We reiterate our view that investors seeking exposure to Russian independent integrated producers will be better served elsewhere. Our estimates show that the company's value estimates would decline by 21% if the firm is unable to recover the money borrowed by the shareholder. In our opinion, a strong share price correction is unavoidable, and we believe the stock may lose over 30% in value once trading resumes, as the markets tend to overreact to negative surprises of this kind. In addition, we believe the story will remain unattractive to all but the most adventurous investors, hampering performance even if the company manages to recover the debt. We reiterate our view that only a change in shareholder structure will unlock the value of Sibir's core assets. |
Posted at 15/2/2009 10:43 by a3477681 In response to my request for his AGM presentation to be posted to the SIbir website Stuard Detmer, Sibir CEO repled very promptly thus:- A copy of the presentation that I made at the December AGM has been posted to the website and is available under "Investors / Company Presentations". Please also note that we have also posted to the website a new video about the Salym project. You can find it under "Investors / Video Gallery" or by clicking on the large icon entitled "Video Gallery" on the right side of the home page. I am sure any readers of this board potential investors or holders will be pleased to read it. Banj please could you add the link to the header? |
Posted at 14/12/2008 21:41 by coco Well after a weekend of thoughts,and for what its worth and I may not be correct but -You have got to ask yourself several questions as I have done :- 1) Why has Igor agreed to take in Chav's bad debt on the property as he could have just purchased the shares direct from the bank in a distressed sale at a very reasonable price he CAN afford too. 2) Why Is SBE selling its stake in The BP. service stations - they are the most profitable in the world. 3) Why didnt the company go for a main listing in this last year. 4) Where is the oil price going in the future. 5) Why did Gazpromneft team up with Sibir on the Moscow oil refinary and where did Gazpromneft think Sibir was going to get the money from for the multi - billion $ upgrades planned. 6) Where Was the Money going to come from to upgrade the MTK network Of service stations. 7) With all this captal expense planned how is the company going to fund planned dividends. 8) How did Sibir plan to fund an aquisition to grow the company by a substantial amount. Well after alot of thought, especially about the way of doing business in Russia and being pro Russian, I will answer my thoughts they may not be correct but hey thats what being a private investor is all about. 1) Igor needs chav its not what you know its who you know so he will vote in favour of the property and from a Russian point of view it means that the property including the tower will be built eventually by a Russian Company with Russian investors,the new modern symbol of Russia and its prosperity will not fail and probably political pressure was applied to Sibir including Igor for probabal favours to be passed their way in the future. 2) Lets just say that the share holding in BP. service stations is a conflict of interest and Sibir can grow and invest in its MTK network to rival the standard of the BP. stations. Note conflict of interest. 3) The company may not have gone for a main listing last year due to the company not being in its Final structure and as we all know the market does not like uncertainty so It was better left until all the I's and the T's are crossed. 4) Where the oil price is going is anyones bet, But the world thrives off oil, we need it and in Russia theres plenty of it so a good supply over a long term means investment over the long term which in turn will give a long term average and lets face it no one will produce oil if its not profitable - so over the long term oil producers will always be profitable - enough said. 5) The Refinary is a Jewel in any companies crown - Its amazing how such a small company can team up with Gazpromneft for a 50 - 50 share. The investment has got to come from a company that has deep pockets and not from a company that is relying on this years profits and lets face it oil companies profits go up and down. Also the investment and expansion of the Refinary will be politically welcomed By Russia - It needs external investment. 6) External investment - Russia needs it. 7) An investor invests in a company in the hope of getting a return on their investment - this is what makes the world go around monetery wise. Also the big investors need demand for their stock (so in Chavs case he can borrow againt it) - Thats why Sibir wants a main listing and remember investment funds require a regular weigh in. 8) I think with the growth in e an p companies in the last five years one or two companies over borrowed - take Urals for example high reserves and alot of borrowings - I think Sibir was probably looking to take out this company or another very similar and would take on another major investor to do it. Obviously if Sibir can remain strong it will have the political power and the potential to take out these reserves for the cost of the borrowings - dont forget Sibir will have made a few good friends by removing the debt risk from Chav's bankers - remember its who you know and not what you know in Russia - they are pro Russian remember but also they know they need external investment, From quality companies. So to recap Sibir is a vehicle to attract major investment in to Russia for the benefit of everyone involved - and I think this external investment is going to be Shell - the sale of the Bp. stations was what cracked it for me. Its a win win situation for Shell and Russia and everyone involved. Please dont invest in this undervalued company, come back in six months when things are alot clearer and the stock is more expensive. Regards Coco |
Posted at 04/12/2008 22:39 by l2e been following this story with amazement and had to post.....Is this what investors here are buying into? I have no position here but I do with Tman recently and it does make you wonder what these controlling investors can do with their power....no shame or pride. I hope Tman's recent white Knight does not turn into a nightmare down the line like this. Back to SBE surely a London listed stock with investors small and large should get together and literally Veto, ,this absolute scam. Good luck holders I hope it works out and SBE concentrates on its oil business and not this nonesense...good grief |
Posted at 15/11/2008 09:47 by jonny flame By Claudia Assis Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--As Russian stocks sink deeper into the red, fund managers specializing in the country's stocks are still keeping their cool. Russia's massive natural resources and huge cash reserves should keep the economy afloat near term. But the sailing will be extremely rough. The dives in crude oil and metals prices, along with renewed concerns about state intervention in private companies, have sent Russian equities plumbing the depths. Russia's two stock exchanges shut down Wednesday following share prices plunges. The bourses reopened Thursday, but in fits and starts. The largest stock exchange, the MICEX, was reopened on the regulator's orders. The stock sales intensified following hefty central bank currency market intervention, a slightly devalued ruble, and an interest rate increase. Rather than reassuring them, the actions spooked investors further. The RTS stock index has fallen 24% this week. The country's stocks are down 19% in dollar terms this month, and down 72% so far this year, according to the MSCI Barra Russia index. Despite the losses, dedicated Russia investors are sticking to their guns, focusing mainly on companies benefitting from Russia's growing middle class. "Russia is being punished right now," but will still grow 3% to 5% next year, said John T. Connor, manager of the Third Millennium Russia Fund, which has about $100 million in mostly Russian equities. "I'm happy with the hand I'm holding now," he said. "Consumer demand is still pretty good in Russia." The economy should still grow about 7% this year. Connor's hand largely consists of domestic-oriented companies such as cell phone companies Mobile TeleSystems (MBT) and Vimpel Communications (VIP), and Russia's largest food retailer, X5 Retail Group NV (FIVE.LN). In addition to focusing on domestic-oriented stocks, managers at Los Angeles' Metzler/Payden, a $180 million fund dedicated mainly to Russian equities, have been concentrating their resources on large-capitalization companies. "(They) are less likely to run into liquidity issues," analyst Vladimir Milev said. Third Millennium's Connor returned Monday from a trip to Moscow and Ukraine's capital, Kiev. In Moscow, people didn't seem afraid for their jobs and were not in a "panic mode," he said. "I didn't get a sense it was 1998 all over again," Connor added, referring to Russia's currency crisis and debt default a decade ago. "Stocks have been punished, but it doesn't mean the economy itself will collapse." Russian authorities are moving aggressively to prevent just that. The central bank said Thursday its foreign reserves fell $9.2 billion to $475.4 billion in the week to Nov. 7, down from almost $$600 billion in early August. The government can also draw on a Reserve Fund worth an estimated $130 billion to sustain public spending now that oil prices have fallen way below the budget assumptions. "They still have quite a treasure chest there, which they can use to protect themselves," said Citi emerging Europe, Middle East and Africa analyst Andrew Howell. "But still, fear has set in." Russia has been dipping into its savings at a break-neck pace that concerns investors, but the central bank said capital outflows peaked in September and October, so the need to use reserves to support the ruble is likely to decrease significantly in the coming weeks. Perhaps, but investors also worry about the country's bloated banking sector and foreign currency debts weighing on many companies' balance sheets. Political risk remains an issue as well, which has been demonstrated by government threats against firms and their owners. Earlier this year, Prime Minister Vladimir Putin issued veiled warnings against coal and steel giant OAO Mechel (MTL), reviving fears of another Yukos - the once-giant oil company destroyed by allegations it owed back taxes. OAO Uralkali (URKA.RS), Russia's second-largest potash producer, also fell earlier this month when the government reopened a two-year old environmental case against the company, which also re-ignited investors fears over a Kremlin move against a company. To calm worries, Russian President Dmitry Medvedev said Thursday the government has no intention to nationalize companies. Despite all the negatives, redemptions from Connor's fund have been "moderate," as most of its investors understand they'll have to weather the storm, he said. Most clients of Harold Warren, head of sales trading at Russian brokerage Uralsib in New York, are sidelined, waiting for the dust to settle. "Things are quite difficult," he said, "but Russia is going to survive. It's not going to stop operating." Others agree. While energy and commodities prices have fallen hard, Russia remains a top producer by volume of oil, natural gas and metals, global consumption of which won't disappear altogether. That means Russia's commodities will continue to generate income, albeit at lower levels. The market is already pricing in much of that decline in earnings, Citi's Howell said. Valuations are now cheap - the average Russian company is trading at price-to-book ratios around seven times, versus their peak in 2006 P/E ratios stood at 16 times. The market swoons and political risk concerns may have made Russia a tougher sale, but Warren sees stabilization in the first quarter of next year. By most accounts, the country still has enough money saved and coming in to get from here to there. -By Claudia Assis, Dow Jones Newswires; 201 938 4385; claudia.assis@dowjon |
Posted at 21/6/2008 14:32 by grumr INESTORS CHRONICLE/FINANCIAL TIMES - AIM INVESTMENT AWARDS 2008Winners AIM Investors International Company Of The Year SIBIR ENERGY AIM Investors' International Company of the Year For the company that has done most to give UK investors access to an attractive overseas market, and to explain why that market is attractive. We're looking for a company that has gone that extra mile to impose UK standards of corporate governance. -------------------- 2008 Winners Best Investor Communications Spice Best Private Investor Relations Goals Soccer Centres Analyst Of The Year Jim McCafferty Broker Of The Year KBC Peel Hunt Float Of The Year CVS Group Alternative Energy Investment Of The Year Romang Holdings Natural Resources Of The Year BowLeven Best AIM Website Faroe Petroleum Analyst of the year Charles Hall Panmure Gordon Property Investment Of The Year Hansteen Holdings Chief Executive Of The Year Rupert Lewin - Aero Inventory AIM Investors International Company Of The Year Sibir Energy AIM Investors Company Of The Year Domino's Pizza -------------------- It all helps, Cheers |
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