Sibir Energy Share Discussion Threads

[gatdecor] 23/4/2009 11:41

miti where is that info?

[josels] 23/4/2009 11:38

Miti
do you have link? thanks it is urgent read below

TDW called just me saying that they can arrange to sell the shares. I said not thanks (based on the recent developements)

[miti 1000] 23/4/2009 11:32

Gazprom offering 70p more than TNK/BP......just out

[gatdecor] 23/4/2009 09:59

Bohemia ring them yourself... they told me they were working all night on a deal, and obviously the price would be higher.

[josels] 23/4/2009 09:45

I just spoke to TDWaterhouse, they said that one of the possibilities is that today this share is temporarily traded on LSE to take advantage of the Credit Suisse offer. The other possibility is that TDW could be sending a email to clients inviting them to sell the share through them.
Noting decided yet.
Apparently they are discussing things within their legal team.

Now shall I sell? What would be the value of the alternative offer, I wonder

[bohemia] 23/4/2009 09:41

Even if that were true, the idea that JPM would tell you is ridiculous.

[gatdecor] 23/4/2009 09:33

Ok just spoken with J. P. Morgan,
I will hold out from the £4.30 as they are putting another bidder in at a higher price, this is just the start IMHO and a bidding war should take the price much higher, good luck to all holders!!!
PS so glad that COCO had already sold KARMA HAHA

[cyberpost] 23/4/2009 09:07

Appointment of Adviser (Sibir Energy)


TIDMSBE

RNS Number : 0379R
Sibir Energy PLC
23 April 2009


Sibir Energy plc ("Sibir" or "the Company")


Sibir is pleased to announce the appointment of its corporate broker J. P.
Morgan Cazenove to act as joint financial adviser to the Company alongside
Strand Partners Limited, with a specific remit to protect the position of
Sibir's minority shareholders.

[cyberpost] 23/4/2009 08:20

You wouldn't have had a chance to tender your shares. The book building closes today.

"Books close/pricing: Thursday, 23rd April "


It would have been virtually impossible to find a non uk broker, fill out necessary forms, and then transfer the stock over to the other broker. Would take days just.

[bohemia] 23/4/2009 08:17

You might want to try your broker again if you want to sell:

Crazy that this RNS isn't properly linked to SBE.

[waggle] 23/4/2009 07:47

so perhaps crest and nominees are not the best way of holding after all!!!Progress,?!!

[gatdecor] 23/4/2009 07:40

pablo yes you can

[pablo1969] 23/4/2009 07:15

HI,

I hold all my own certificates, can i sell mine directly to them.

Regards

[josels] 23/4/2009 05:15

lol makes sense, it is very good though

[yf23_1] 22/4/2009 23:19

I think the bookbuild is directed at Mr T.

The shares not in the hands of MOGC, Mr. T and the tobacco guy only amount to 20%, and those in UK will be offlimits till unsuspension.

[quattro44] 22/4/2009 22:48

Surely this is all about Tchigirinski ultimately getting a large price for his shares so that he can both pay back his debts to the company and still be quids in? That way the Russians save face by the legal action being dropped; the assets become Russian; the Russian is saved and our man Henry gets it in the neck. Perfect Russian business model!
q44

[josels] 22/4/2009 21:13

thanks
well we need to wait

[gatdecor] 22/4/2009 21:12

josels yes correct you cant sell them

[josels] 22/4/2009 21:05

We have some few shares in TDWaterhouse. For what I read above it seems to me that I can't sell them, correct?

Many thanks

[davidwilkin] 22/4/2009 19:25

ok cheers, lets hope for more than that then if theres a bid, shame about chigirinskys large stake, that could prove a major obstacle or it could be a positive in that everything has its price and £8 just may prove to good to turn down. Could Chigirinsky get his money out of Sibir before having to clear his debts to the company and selling his property interests ?? or maybe he could use his stake in Sibir as collateral for the banks to lend him more money to save him selling his property interests...............who knows, im comforting myself with the thoughts of everything has its price and SBE has world class assets not to be given away on the cheap.

[cmabey] 22/4/2009 19:07

dw, I doubt it. Talked to my nominee about this today and he had already been onto Suisse about backdoors, but no dice.

[davidwilkin] 22/4/2009 18:38

is there any way of transferring our UK listed shareholding to take advantage of the bookbuild, mine are in a nominee account with interactive investor ??

This question does not seem to have been fully answered on previous posts.

[steveofsw19] 22/4/2009 18:33

Above the crippled carcass of the wildebeast, the vultures circled....




I think a first bid of 430p means we can expect around 600p a pop for our ill gotten horde.

[gatdecor] 22/4/2009 16:15

from FT.com

Hurry, special offer for Sibir investors
Posted by Neil Hume on Apr 22 16:12.
It's BP-TNK and they are prepared to offer 430p for each share. (And no, that's not a typo).
But don't hang about as this once in a lifetime offer, which values the scandal- hit Russian oil explorer at a cool £1.6bn, ends on Thursday.

From a stock exchange announcement released on Wednesday afternoon:
Credit Suisse International has launched a fixed price reverse accelerated bookbuild to purchase shares in Sibir Energy plc at GBp 430 on behalf of TNK-BP.

TNK-BP is seeking to acquire a significant minority stake and has not reached any agreement to acquire shares from the controlling shareholders.

Sibir Energy plc is listed on AIM (Ticker: SBE LN). The shares are currently suspended and Credit Suisse International make no representation as to the accuracy or completeness of public information regarding Sibir Energy plc.

RESTRICTIONS:
* Member firms of the London Stock Exchange are prohibited from trading the shares while suspended * Reg. S Outside the US * No offer to the US, Canada, Australia and Japan

INDICATIVE TIMETABLE
Books open: Immediately
Books close/pricing: Thursday, 23rd April

For further information please contact:
Matthew Duggan, Credit Suisse [phone].

The background here is that shares in Sibir were suspended at 174.75p in February after the company discovered Russian businessman Shalva Chigirinsky (who is the co-owner of Benefield) had "borrowed" $325m from its bank account.

Sibir then launched a high court action against Chigirinsky and another director to recover the cash, and rather curiously issued this statement last week:

The Board of Sibir notes press articles reporting that the Russian joint venture oil company, TNKBP, is preparing an offer to acquire Sibir shares. The Board confirms that it has not received any approach or any offer from TNKBP.

Of course, what is interesting here are the motives of TNK-BP.

Presumably, TNK wants to get some sort of leverage over Sibir's Salym oil fields in western Siberia. But there is one problem with these fields, which are world class and producing 160,000 barrels of crude a day: they are held in a 50-50 joint venture with Royal Dutch Shell.

However, Shell might welcome a local partner such as BP-TNK. After all, most of Sibir's current problems are to do with political risk and corporate governance issues. These could be much less of a problem with TNK on board.

Still, tempting as it might be, Sibir shareholders might want to resist selling out just yet - because the company has received another approach:

The Board of Sibir (the 'Board') notes the announcement of a fixed price reverse accelerated bookbuild to buy shares in Sibir by Credit Suisse International on behalf of TNK-BP at £4.30 per share. The bookbuild is a market operation which does not involve the co-operation of Sibir.
The Board confirms that no approach has been made by TNK-BP to Sibir or to its advisers. However, Sibir has received an informal approach from another party in relation to a possible offer for Sibir. Discussions with that party are at a very preliminary stage and there can be no guarantee that an offer for Sibir will be forthcoming.

But then again...perhaps they should bite the arm off BP-TNK.