Sdx Energy Share Discussion Threads

[4mrb] 19/8/2019 22:56

‘Reminding them of their mid August...’
Tut tut as if they need a reminder from a shareholder. What next ?

[greenrichard] 19/8/2019 18:16

Sent an email to SDX last Thursday reminding them of their mid August date for arrival of CFP on site. Requirement to update shareholders either way if arrived or a delay as it is a 2nd milestone. Not heard back. Mid August could be stretched to end of this week I guess, but poor show if no news by then, bearing in mind the importance of gaining shareholder trust back.

[lptuf93] 19/8/2019 17:21

Just bought in. Was involved prior to SD-1 and think this is very cheap IF the board can deliver SD by Q4. Hopefully half year results (out by end of aug) should highlight progress at SD (2nd milestone hit maybe?)

[cwmwillis] 19/8/2019 14:22

Hope not or i will be working till i am 75!!!!!

[shakeypremis] 19/8/2019 13:46

Hopefully it's not actually us who are the crazy ones.

[cwmwillis] 16/8/2019 16:11

Be greedy when everyone else is crazy ;)

[neo26] 16/8/2019 15:59

mkt has gone crazy. :)

[neo26] 16/8/2019 15:51

i can imagine we would get update in 6 month results which will be out shortly.

Cant believe this is valued under UKOG....

[shakeypremis] 16/8/2019 15:46

I'd be happy to just be updated saying it has reached customs. At least we'd know it was in Egypt.

[neo26] 16/8/2019 15:44

maybe letting us know they have cleared customs with the CPF skids and compressors will increase confidence.

"Preparations for the second key project milestone, the shipping of the CPF skids from Abu Dhabi and compressor from Houston to Egypt, have commenced and arrival on-site is anticipated in mid-August 2019, subject to satisfactory customs clearance in Egypt."

[cwmwillis] 16/8/2019 10:35

MR was there and probably done a PW on them and spun a yarn with timescales. Good news is that they have not sold any shares so hopefully they are just sitting on their hands & waiting for SD and the future drilling. Remember they have a lot more info than ourselves!!

Bad scenario is they increase to 30% then look for the takeover. 50% of the 70% is only 35% (of current)which would be obtainable i recon.

Was involved in both IAE & FMP and found that when somebody is intent in the takeover it happens. The FPM article highlighted how well the Board done out of the Delek deal even if they didn't want it.

Although i am now getting into if/buts/maybes so i will now stop.

[shakeypremis] 16/8/2019 09:36

"The deal requires that holders of more than 50 percent of shares not held by Delek accept the offer."

If that would apply in the case of SDX and it's Waha looking to buy out then they'll need another 40% (50% of 80% remaining shares is 40%) of outstanding shares to vote along with them.

If Waha don't want it but and want to sell the company as they in affect control the company then any suitor would simply need 50% to vote in favour of any takeover offer recommended to shareholders by the board. Doesn't make sense for Waha to sell like this though as they could have just dumped earlier at a higher price than today.

[cwmwillis] 15/8/2019 19:56

Shakey

Bit of reading for you

[shakeypremis] 15/8/2019 17:17

hxxps://www.burges-salmon.com/news-and-insight/publications/guide-to-public-takeovers-in-the-uk/#offer-structures

Not sure where I got the 66% percent figure from but found the below;

===================================================================================


1. Contractual takeover offers and schemes of arrangement
Public takeovers in the UK are implemented by either a contractual takeover offer or a scheme of arrangement.

Under a contractual takeover offer, the bidder makes a general offer to all target shareholders. Shareholders are sent an offer document containing information on the bid and the bidder. The bidder must secure acceptances over shares representing more than 50% of the target’s voting share capital to declare the offer unconditional. Acceptances over shares representing 90% of the target’s voting share capital are required to squeeze out the minority (and thereby enable the bidder to acquire all of the target's voting share capital). Given that bidders typically aspire to acquire 100% of the voting rights in a target company, it is therefore usual for the acceptance condition to be set at 90% (rather than 50%), but for the bidder to have the option to reduce this threshold to shares carrying over 50% of the voting rights.

A scheme of arrangement is a statutory mechanism which is an alternative to a contractual offer. It is a formal arrangement between the target company and its shareholders, which is governed by the Companies Act 2006. A scheme of arrangement must be approved both by the shareholders of the target company and the High Court. In particular, a scheme of arrangement requires approval from shareholders who constitute a majority in number of each class of shareholders who are subject to the scheme of arrangement and who are voting at the meeting. This majority must also represent at least 75% in number of those shares which are voted.

The main advantage of a scheme of arrangement is that, if successful, it will bind all shareholders (regardless of whether, or in what way, they voted). However, due to the High Court’s involvement, schemes of arrangement are less flexible structures than contractual takeover offers.

[tournesol] 15/8/2019 17:11

shakey

Sorry but I think you are wrong

it's just 50% + 1

same as in a parliamentary election

or a vote in the House of Commons

a simple ,ajority will suffice

[shakeypremis] 15/8/2019 16:58

I don't think it is when it comes to takeovers.

[tournesol] 15/8/2019 16:48

Shakeypremis

66%?????

How so?

Surely it's a simple majority ie 50% + 1

[neo26] 15/8/2019 16:06

Will be taken over before it gets to 10p.Imho