Wentworth Resources Share Discussion Threads

[wbodger] 12/6/2023 16:11

Body blow? Not for people who didn't like the deal.

Gary1966 where did you get that info in #707? If correct it's this Thursday. Last year results came out on April 6.

[sunbed44] 12/6/2023 10:56

Big body blow very late in the day!

[cowie19] 12/6/2023 10:46

Well this isn't cricket, delayed reaction to Friday's news.

[russman] 10/6/2023 05:21

maybe that is what the Gov thinks as well.

[rolo7] 09/6/2023 17:41

Late new deal concerns with local government maybe we will be able to pick these up cheap if rejected

[gary1966] 24/5/2023 12:13

2022 year end results and divi announcement on 15/06.

[boystown] 16/5/2023 13:11

Can anyone tell me what the liklly timetable is here? I've read the RNSs but still can't figure it out.

[wbodger] 19/4/2023 09:56

People should email M. De Langavant at M&P if this takes any longer to complete. The WEN shares will not be suspended until the conditions are met and that timing is in M&P's hands.

The final dividend for 2022 is overdue, and there is no good reason why it cannot be paid to Wentworth shareholders, with an ex-entitlement date some date before Completion.

[wbodger] 28/3/2023 12:05

M&P know everything they need to know about Wentworth and the Scheme does give them the right to waive some of the conditions.

I think they surely have enough to waive approval by Tanzania, and pre-emption by TPDC, because both of those are easy to sort.

If they are really going to take another three-months they should pay the 2022 final dividend to WEN shareholders.

I am emailing M&P to ask for that, or to at least waive the conditions and declare Unconditional so we can move on.

[russman] 25/3/2023 07:03

trading costs & small chance of divi makes it worth the wait for me.
Downside appears limited.

[1hercule] 23/3/2023 10:14

and possibly a divi?

i think the way oilers are performing at present this represents a decent option.

[gb904150] 22/3/2023 09:59

I think the deal is cut and dried but some investors will be impatient to release funds.

You can sell at 30p or you can hold on for a few months and get 32.5p.

Some people would rather get that 30p today than wait.

But for a few months wait to get an extra 2.5p....that's just over 8% bonus, so I think with all that uncertainty around I'll happily hold on. EOY is the long stop date for the deal but hopefully we are just talking a few months.

[russman] 22/3/2023 06:39

Strange. share price fell yesterday. Maybe the deal is not "cut & dried"

[gary1966] 21/3/2023 12:32

Hopefully they will be honourable and appreciate that cash balances will have grown considerably since the initial offer and so they aren't losing out by not deducting the dividend.

[wbodger] 21/3/2023 09:33

Here's the announcement of December 5th:


It includes this:

General

· If any dividend, distribution or other return of value in respect of the Wentworth Shares is declared, paid, made or becomes payable on or after the date of this Announcement and prior to the Effective Date, M&P reserves the right to reduce the consideration payable for each Wentworth Share under the terms of the Acquisition by the amount per Wentworth Share of such dividend, distribution or other return of value. In such circumstances, Wentworth Shareholders would be entitled to receive and retain any such dividend, distribution or other return of value, which has been declared, made or paid.

Last year the results for 2021 came out on April 6th. TPDC are shareholders and their holding is not dependent on the offer M&P are making for Wentworth, so they will expect the accounts and final dividend in the usual way.

[jimmladd1] 21/3/2023 09:10

If it is, it'll be taken off the sale price

[gary1966] 21/3/2023 08:09

I wonder if a dividend will be paid in July if the takeover hasn’t happened by then as the cash pile is growing ever more with the protracted timeframe.

[gary1966] 20/3/2023 08:31

Amazing how more upbeat the co are now that the takeover has been approved. No mention of problems with being paid in $ or large expenditure required to maintain production. Seem to be firing on all cylinders.

Completion of takeover not until Q2 or 3 seems very protracted.

[wbodger] 27/2/2023 10:02

Agreed, it's over. Brown envelopes help expedite things. I only posted the conditions because the share price will creep to 32.5 as they are met and the Scheme is sanctioned.

Do you think Fidelity just registered enough votes to be defeated? If they did vote all their 21 million against they surely could have killed it. Only 44% carried it through. The Board earlier announced Irrevocable Undertakings (FIL excluded) to accept from holders of 22.32%, so they only got another 22% in favour.

[gary1966] 26/2/2023 07:53

I can’t really see the other conditions being a problem given that M&P are well known to the Tanzanian powers that be.

[russman] 25/2/2023 06:54

75.26% was tight!

[rolo7] 23/2/2023 19:19

Halifax sent paperwork as it's and agm vote not a corporate action

[loglorry1] 23/2/2023 18:43

Thanks. Close to £1m profit good for her.