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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Westmount Energy Limited | LSE:WTE | London | Ordinary Share | GB00B0S5KR31 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.40 | 1.30 | 1.50 | 1.40 | 1.40 | 1.40 | 10,566 | 07:45:58 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Offices-holdng Companies,nec | -2.7M | -2.97M | -0.0206 | -0.68 | 2.02M |
Date | Subject | Author | Discuss |
---|---|---|---|
22/12/2005 13:04 | BOM I think fill your boots at half price would be right if i can get up early enough tommorrow! They should open @ 1.03 - 50p x 2 in my opinion. | p@ | |
22/12/2005 12:53 | You've done a good job on this Mick. I don't think we'll be disappointed tomorrow. The upside on what we're left holding will become more clearly evident. imho | bomfin | |
22/12/2005 12:50 | Agree Bomfin If I was in two minds about buying the shares over the last month, I would normally have waited until the consolidation was out the way. At the same time, if I was thinking of selling, I would have done so before the cash back as why sell between now and end of January when almost 50% of your cash is tied up doing he haw. I like my thinking on this :>)))))) Mick | mickinvest | |
22/12/2005 12:45 | Been super busy.Christmas being a large part of it! Shares shouldn't drop tomorrow. The price should be pretty unchanged because of share consolidation. We'll have half the shares at a similar share price. If they open at £1.02 - £1.05 tomorrow they are cheap. If they are half the price fill yer boots. IMHO DYOR rgds bomfin | bomfin | |
22/12/2005 12:44 | Looks good to me BLT, I've just called my broker and gave them orders to redeem the B shares in january 2006, that should give me enough time to make around 20% profit on the cash before end of May :>)) Mick | mickinvest | |
22/12/2005 12:25 | Judging by the positive share price reaction the market obviously likes the RNS.... | bitterlemontart | |
22/12/2005 12:21 | MickinVest - agree with you on that....very bullish, eh ? | bitterlemontart | |
22/12/2005 12:19 | The options piece really confirms they are aware that the shares are very undervalued on a longer term view as they are issuing them at today's price. They did mention it was to SUPPLEMENT the low remuneration, guess they think they will go up :>) Mick | mickinvest | |
22/12/2005 12:18 | WESTMOUNT ENERGY LIMITED PAUL ROBERT ANDERSON Date of Birth 03 December 1973 LIST OF DIRECTORSHIPS Name of Body Country of Incorporation Current Colima Limited Jersey Ilford Trustees (Jersey) Limited Jersey Stamford House No.2 Limited Jersey Past 5 Years Blue Circle Services Limited British Virgin Islands Bullion Brokers (C.I.) Limited Jersey British Airways Employee Benefits Trustees Jersey (Jersey) Limited Cable & Wireless (EBT) Limited Jersey Chis 1 Limited Jersey Chis 1A Limited Jersey Chis 2 Limited Jersey Chis 2A Limited Jersey Chis 3 Limited Jersey Chis 3A Limited Jersey Comino Limited Jersey Domus (Residential) 5 Limited Jersey Domus (Residential) 6 Limited Jersey Domus (Residential) 7 Limited Jersey Domus (Residential) 8 Limited Jersey Domus (Residential) 9 Limited Jersey Domus (Residential) 10 Limited Jersey Domus (Residential) 11 Limited Jersey Domus (Residential) 12 Limited Jersey Domus (Residential) 13 Limited Jersey Domus (Residential) 14 Limited Jersey Financial Overseas Holdings (FINOV) Limited Jersey Lafitte Financial Company (LAFFINCO) Limited Jersey Overseas Participations Limited Jersey Maxent Investments Limited Jersey Mirabeau Limited Jersey SERPUT Nominee 1 Limited Jersey SERPUT Nominee 2 Limited Jersey SERPUT Nominee 3 Limited Jersey SERPUT Nominee 4 Limited Jersey SERPUT Nominee 5 Limited Jersey SERPUT Nominee 6 Limited Jersey SERPUT Nominee 7 Limited Jersey SERPUT Nominee 8 Limited Jersey SERPUT Nominee 9 Limited Jersey SERPUT Nominee 10 Limited Jersey SERPUT Nominee 11 Limited Jersey SERPUT Nominee 12 Limited Jersey SERPUT Nominee 13 Limited Jersey SERPUT Nominee 14 Limited Jersey SERPUT Nominee 15 Limited Jersey SERPUT Nominee 16 Limited Jersey Stamford House (Jersey) Limited Jersey The Royal Bank of Scotland (Dolland & Aitchison) Nominees Jersey Limited Mr Anderson has no unspent convictions, and has not been a bankrupt, nor was a director of a company at a time or within 12 months preceding any receivership or creditors liquidation of such company, and there has been no public criticism of Mr Anderson by any statutory or regulatory authority. 22 December 2005 This information is provided by RNS The company news service from the London Stock Exchange | bitterlemontart | |
22/12/2005 12:17 | Result of EGM RNS Number:1097W Westmount Energy Limited 22 December 2005 Westmount Energy Limited WTE Result of EGM, appointment of Director and Share Options 22 December 2005 Westmount Energy Limited Result of EGM to approve Return of Capital of 50 pence per Ordinary Share (in aggregate approximately #7,500,000) to shareholders and 1 for 2 Share Consolidation Announcement of the Appointment of a New Director At the Extraordinary General Meeting of Westmount Energy Limited ("Westmount") held in Jersey today, the shareholders approved the proposed return of capital and share capital reorganisation of Westmount. As set out in the Circular to Shareholders dated 25 November 2005, all enabling resolutions were duly passed. Capital of the equivalent of 50 pence per Ordinary Share will be returned to shareholders. Shareholders will also receive One Consolidated Ordinary Share for every Two Ordinary Shares held. Dealings in the new Consolidated Ordinary Shares are expected to commence at 8.00 a.m. on Friday, 23 December, with the first opportunity to receive the agreed return of 50 pence per B share expected to occur on 31 January 2006. The Board of Westmount is also pleased to announce that Mr Paul R. Anderson, aged 32, who has been residing in Jersey for over 9 years, an associate member of the Institute of Chartered Secretaries and Administrators has today been appointed to the Board. Paul is a Trust Manager of Bedell Group, Jersey, a position he has held since September 2003 when the Bedell Group assumed the role as Secretary of Westmount from The Royal Bank of Scotland Trust Company, Jersey, where Paul had been a Corporate Trust Manager and employed since June 1996. He was formerly with The Royal Bank of Scotland Group, Edinburgh, as a Securities Associate since December 1991. Commenting on his appointment Mr Derek G. Williams, Chairman, stated: "I am especially pleased with the timing of this appointment now that Westmount has reached such an important stage, following the Share Capital Reorganisation and the return of substantial capital to shareholders. Paul has been involved with Westmount's business for over 9 years and I have worked with him closely during this period. Paul will now be able to play a significant role in the future development of Westmount." The Board also announces today that to supplement the low level of directors' remuneration and in view of the increasing time and effort to be put in by the Directors, the Board is proposing to grant options over a maximum of 750,000 of new Consolidated Ordinary Shares expiring on 31 December 2012. Initially the Board intends to grant options or rights equivalent to options over a total of 600,000 Consolidated 20p Ordinary Shares of Westmount, with effect from today's date at a subscription price equivalent to the opening middle quoted price on the AIM market, of the Consolidated Ordinary Shares. As a result the Directors of the Company, Derek G. Williams, Peter J. Richardson, Marc S.D. Yates and Paul R. Anderson, will be allocated 150,000 share options each. Westmount Energy Limited Tel: 01534 814209 Derek G. Williams, Chairman Oriel Securities Limited Tel: 020 7710 7600 Andrew Edwards | bitterlemontart | |
22/12/2005 12:16 | esult of EGM to approve Return of Capital of 50 pence per Ordinary Share (in aggregate approximately £7,500,000) to shareholders and 1 for 2 Share Consolidation Announcement of the Appointment of a New Director At the Extraordinary General Meeting of Westmount Energy Limited ('Westmount') held in Jersey today, the shareholders approved the proposed return of capital and share capital reorganisation of Westmount. As set out in the Circular to Shareholders dated 25 November 2005, all enabling resolutions were duly passed. Capital of the equivalent of 50 pence per Ordinary Share will be returned to shareholders. Shareholders will also receive One Consolidated Ordinary Share for every Two Ordinary Shares held. Dealings in the new Consolidated Ordinary Shares are expected to commence at 8.00 a.m. on Friday, 23 December, with the first opportunity to receive the agreed return of 50 pence per B share expected to occur on 31 January 2006. The Board of Westmount is also pleased to announce that Mr Paul R. Anderson, aged 32, who has been residing in Jersey for over 9 years, an associate member of the Institute of Chartered Secretaries and Administrators has today been appointed to the Board. Paul is a Trust Manager of Bedell Group, Jersey, a position he has held since September 2003 when the Bedell Group assumed the role as Secretary of Westmount from The Royal Bank of Scotland Trust Company, Jersey, where Paul had been a Corporate Trust Manager and employed since June 1996. He was formerly with The Royal Bank of Scotland Group, Edinburgh, as a Securities Associate since December 1991. Commenting on his appointment Mr Derek G. Williams, Chairman, stated: 'I am especially pleased with the timing of this appointment now that Westmount has reached such an important stage, following the Share Capital Reorganisation and the return of substantial capital to shareholders. Paul has been involved with Westmount's business for over 9 years and I have worked with him closely during this period. Paul will now be able to play a significant role in the future development of Westmount.' The Board also announces today that to supplement the low level of directors' remuneration and in view of the increasing time and effort to be put in by the Directors, the Board is proposing to grant options over a maximum of 750,000 of new Consolidated Ordinary Shares expiring on 31 December 2012. Initially the Board intends to grant options or rights equivalent to options over a total of 600,000 Consolidated 20p Ordinary Shares of Westmount, with effect from today's date at a subscription price equivalent to the opening middle quoted price on the AIM market, of the Consolidated Ordinary Shares. As a result the Directors of the Company, Derek G. Williams, Peter J. Richardson, Marc S.D. Yates and Paul R. Anderson, will be allocated 150,000 share options each. | mickinvest | |
22/12/2005 11:30 | Looks like a positive outcome to the EGM ! | bitterlemontart | |
22/12/2005 11:18 | Have you seen the reply to my question Moyle, hopefully that has answered things, I thought I had better check if there was a chance of offsetting a tax loss, as expected no chance :>( Right, so if you have recently bought the shares and paid fairly close to the current share price, I presume there is no incentive to wait for the money and best to take the option for the cash in January? I will do this and if the shares have a wee run between now and April will sell them so that it simplifies the tax issue and look to buy them back in the Mrs name(ie all the paperwork can get stapled together under one deal for the same tax year and no need to split the damn stuff). As there is no stamp duty and if you time it properly, its possible that you could do this without losing money. Then again, if your timings out then you could miss out on a decent gain but I like to simplify my paperwork and seems like the best option for me. Mick | mickinvest | |
22/12/2005 08:40 | EGM today ? | bitterlemontart | |
21/12/2005 16:29 | Mick I just read your post above. Your tax implications are not correct. When you receive the 50p cash per share, this will be deemed to be a part disposal for capital gains tax purposes. Moyle | moyle | |
21/12/2005 16:27 | The advantage of taking the cash in May is you defer any capital gain on the part dispoal of your holding until 2006/2007. If you have no CTG problems in 2005/2006, you take the cash in January | moyle | |
21/12/2005 11:05 | The answer seems pretty straightforward and thought I would be chancing it for a tax dodge. With regards the "B" shares, are there any advantages in taking the cash in May as I fail to see any and may as well opt for January . What is everyone else doing ? Mick | mickinvest | |
19/12/2005 11:51 | I think someone asked about the tax implications regarding tax on the cash that is returned. I've posted the following and hopefully someone will put us right as I have no idea(unless any of you have?). Worth a try as could buy a shed load and take a loss so I can sell off a few more oils this year. Could then buy the shares straight back in Mrs M's name to avoid the 30 day rule, can't see it but if you don't ask you don't get. Can anyone answer the CGT implications for the following scenario? Regarding Westmount Energy returning cash to shareholders, using the following figures which I've rounded up or down to simplify things. They are channel Islands based company and there is no stamp duty when buying if it makes any difference to things. Buy 10,000 shares today at £1 each total outlay £10,000 At end of week, you will receive a "B" share worth 50p and I understand the default date for receiving the money is May 2006 although you can have the money end of January 2006 if you request it. All things being equal, the shares should drop 50p when trading resumes next week. Question If you sell the shares before the new tax year in April 2006 at say 50p, would you be able to incur a CGT loss of £5000 for 2005/06 and once you receive the cash for the "B" shares in May 2006, would that be a straight £5,000 gain for 2006/07. | mickinvest | |
19/12/2005 10:29 | DESsie up 4% on this... Loads of tubing and nothing to use it on... To be fair, though, this bit was interesting... At the recent conference in London on Commercial and Technical Strategies for Managing Exploratory Risk in Frontier Regions Ian Cross, Vice-President of IHS Energy presented a paper entitled ' What can we really expect from unexplored areas?- Global elephant hunting. ' In this paper he highlighted the significant exploration wells to be drilled in the World in the next 18 months ie wells with the potential to find a major field with 250 million barrels or more of recoverable oil. In this category he included Desire's wells to be drilled in the North Falkland Basin. He also noted that there are very few areas in the World where oil fields of this size can now be found with discovery levels now back at the levels last seen in the 1950s. IHS is a leading global provider of consultancy services and technical information to the oil and gas industry and as such are well placed to provide a global overview of the oil exploration scene. Always thought that DES was the runt in Westmount's litter but who knows, maybe one day... | cwa1 | |
17/12/2005 10:07 | Might even get Des saying they've found a rig about the same time. OK. That's a longer shot.:-) | bomfin | |
17/12/2005 08:07 | What would it do for the New consolidated WTE if Eclipse floatation roughly coincided with first production from Chinguetti? Sterling and Eclipse could both be on a roll. imho rgds bomfin | bomfin |
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