Subsea Resources Share Discussion Threads

[william47] 02/10/2007 07:39

well my 30 grand is now 100 grand.your right im wrong.

[sicilian_kan] 02/10/2007 07:38

Price it goes for doesn't bother me Ed, I've just sold up at a 50% profit. Moving on elsewhere now.

[2magpies] 02/10/2007 07:28

Could be someone with DEEP pockets, who's cast an eye on various 'secret' locations and seen the possibility of hidden treasure.


Well, if he's got the money .....

[edmondj] 02/10/2007 07:23

Yes but at what price?

[sicilian_kan] 02/10/2007 07:21

Ditto re comments suggesting I was wrong when I said that there would be a takeover

[william47] 02/10/2007 07:19

come on all the ones who called me a ramper.own up.

[william47] 02/10/2007 06:46

as predicted.

[edmondj] 02/10/2007 06:43

RAB hasn't received an approach, it may just be doing the carving...

What is the liquidation value on this piece of cr*p I wonder; better than Northern Rock?!

[ariane] 02/10/2007 06:36

Rab Capital SubSea Resources says has received approach for possible offer for company


LONDON (Thomson Financial) - SubSea Resources PLC said it has received
approaches regarding a possible takeover of the company.
The underwater engineering specialist added the approaches include a
possible change of control or sale of the business of the company.
It said the discussions have been of a very preliminary nature, adding a
further announcement will be made in due course as appropriate.
On Sept 27, SubSea Resources said shareholder RAB Special Situations Master
Fund Ltd bought 10 mln shares, raising its indirect stake to 29.74 pct in the
company.
The fund now indirectly holds 105.75 mln shares in the company. RAB Capital
PLC acts as investment manager for RAB Special Situations Master Fund.
[e-mail]
kkb/ms1

[edmondj] 02/10/2007 06:35

1.75p?!

Do they think they can asset strip the thing and reverse another resources company into the quote, I wonder.

[euanmebabe] 02/10/2007 06:33

Looks like my post last night was well timed. What do you consider as not generous Edmond?

[edmondj] 02/10/2007 06:22

Assuming it is RAB making the bid, they are unlikely to be generous!

[ariane] 02/10/2007 06:22

Subsea Resources Re: Approaches


RNS Number:9371E
SubSea Resources PLC
02 October 2007


SubSea Resources plc


SubSea Resources plc (the "Company") announces that it has received approaches
regarding a possible change of control arising from a placing of new ordinary
shares of the Company, or sale of the business of the Company. One of the
approaches received by the Company also contemplates the possibility of an offer
for the entire issued share capital of the Company.


These discussions have only been very preliminary and a further announcement
will be made in due course as appropriate.


Number of Relevant Securities in Issue:

In accordance with Rule 2.10 of the Takeover Code ("the Code") the Company
confirms that its issued share capital consists of 355,586,541 ordinary shares
with a nominal value of 1 pence each ("Ordinary Shares"), each share having
equal voting rights, together with 210,118,201 deferred shares of 4 pence each
("Deferred Shares"). The Company does not hold any Ordinary Shares in treasury
and therefore the total number of Ordinary Shares with voting rights is
355,586,541.

The Company has 26,761,568 warrants (the "Warrants") (exercisable at 40p and
valid between 5 November 2005 and 5 November 2010).

The Ordinary Shares and the Warrants are admitted to trading on AIM under the
following UK ISIN codes :-

Ordinary Shares: GB00B03CKQ88

Warrants: GB00B03CKT10


For further information please contact:


ENQUIRIES:

SubSea Resources plc Tel: [phone]
Ric Piper, Chairman
Edward Cox, Chief Financial Officer

Canaccord Adams Limited Tel: [phone]
Robert Finlay/ Ryan Gaffney

College Hill Tel: [phone]
Gareth David/Mark Garraway


Dealing disclosures requirements:


Under the provisions of Rule 8.3 of the Code, if any person is or becomes
'interested' (directly or indirectly) in one per cent. or more of any class of
'relevant securities' of the Company, all 'dealings' in any 'relevant
securities' of the Company by such person (including by means of an option in
respect of, or a derivative referenced to, any such 'relevant securities') must
be publicly disclosed by no later than 3.30 p.m. (London time) on the business
day following the date of the relevant transaction. This requirement will
continue until the date on which the offer becomes, or is declared,
unconditional as to acceptances, lapses or is otherwise withdrawn or on which
the 'offer period' otherwise ends. If two or more persons act together pursuant
to an agreement or understanding, whether formal or informal, to acquire an
'interest' in 'relevant securities' of the Company, they will be deemed to be a
single person for the purpose of Rule 8.3.


Under the provisions of Rule 8.1 of the Code, all dealings in 'relevant
securities' of the Company, by a potential offeror or by the Company, or by any
of their respective 'associates' (within the meaning of the Code), must be
disclosed by no later than 12.00 noon (London time) on the business day
following the date of the relevant transaction.


A disclosure table, giving details of the companies in whose 'relevant
securities' 'dealings' should be disclosed, and the number of such securities in
issue, can be found on the Panel's website at www.thetakeoverpanel.org.uk.


'Interests in securities' arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.


Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website.


If you are in any doubt as to whether or not you are required to disclose a
'dealing' under Rule 8, please contact an independent financial adviser
authorised under the Financial Services and Markets Act 2000, consult the
Panel's website at www.thetakeoverpanel.org.uk or contact the Panel by telephone
([phone]) or by fax [phone]).



This information is provided by RNS
The company news service from the London Stock Exchange
END

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[euanmebabe] 01/10/2007 18:38

Well, it is a shame given the share accumulation that went on last week that there was no more news today. Although the shares were bought at about half the current share price this hopefully signifies that there is some kind of bidding war going on behind the scenes which might lead to a further rise.

On another note, the annual report wasn't pretty reading but I suppose that just one decent piece of news would be enough to lead to a slight recovery given that the current price presumably reflects the fact that the company may not exist in a few months time?

[isis] 01/10/2007 16:08

Lots of hedge funds going bust at present - I doubt they ever give any bonuses back though.

[jfishy] 01/10/2007 16:05

"lost 90% of their value and the CEO has resigned."

CEO's resignation CAUSED the 90% drop - he was they key guy in many of their funds. Investors invested because it was him running the show.

RAB also blew a load on Wiggins / Planestation before it went bust.

I suspect William has pumped & now dumped.
Can't see as how he would have made much though, the rise wasn't very big.

[loverats] 01/10/2007 15:47

And where is the resident ramper, William. Has he dumped and moved on ?

[loverats] 01/10/2007 15:45

RAB also bought loads of this dog at 10p didnt they ?

and they made a massive balls up in AEN, lost millions

so this comment

" RAB make VERY few mistakes!!!"

is total nonesense.

[isis] 01/10/2007 15:32

Not sure that counts for much in this market. Absolute Capital were named 'Hedge Fund of The Year' last year and nearly went bust last week - they have also lost 90% of their value and the CEO has resigned.

[blue59] 01/10/2007 15:26

Philip Richards and RAB make VERY few mistakes!!!

[isis] 01/10/2007 15:19

RAB also bought a large stake in Northern rock recently which I think they have doen their b'lox on.

[gwr7] 29/9/2007 08:14

Had a good drink last night?