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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Xceldiam | XLD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 2.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.00 | 2.00 |
| Top Posts |
|---|
Posted at 08/8/2007 22:04 by chancer6 The mining business was bought by Petra Diamonds at 50 pence per share in March 2007. The company retained the AIM listing and the dive in the price happened to reflect the value of the current assets i.e. machinery + cash. Since then the company has made noises about the kind of investments they will be working on. The below director is the key here and he has stayed on the XLD board.-------------------- The Remaining Directors have the following expertise in respect of evaluating and acting on the investing strategy: - Michael Nunn is a South African mining entrepreneur, recognized as the pioneer of the worldwide tanzanite industry. He was the founder and CEO of AIM quoted Tanzanite One and remains the major shareholder. Mike also founded and developed Afgem Limited of which he is also the major shareholder. Mike is currently Chairman and CEO of AMARI (African Mining and Resource Investments) which he founded in 2006 to consolidate his various mining interests and pursue a wide spectrum of resource opportunities throughout Africa. He is the founding member of Xceldiam. |
Posted at 08/8/2007 20:02 by chancer6 Xceldiam Investing StrategyXceldiam's shares continued to trade on AIM following the disposal. The directors of Xceldiam continue to pursue new investment opportunities in the mining sector in accordance with Xceldiam's investing strategy. The US$1.25 million cash reserves in Xceldiam, less the Company's operating costs over the next 12 months, which are expected to be approximately US$600,000, will be invested by the directors as follows, whereby the Company will: * either (i) invest by way of purchasing shares in diamond companies, or other resource opportunities, which hold exploration or mining licences in the sub-Saharan region of Africa, most notably the Democratic Republic of Congo (" DRC"), or (ii) acquire the assets held by these companies. The recent democratic elections in the DRC, and the revision of its mining legislation, makes this country in the opinion of Michael Nunn and Mark Summers (being the remaining directors after completion of the Disposal) (the "Remaining Directors") a good target for exploration and mining activities; * make an investment or acquisition within 12 months of the date of the EGM, failing which it will return all funds held by the Company to its shareholders by way of dividend; * make only one or two key investments or acquisitions with the funds it currently holds; * if it chooses to invest, by way of purchase of shares, rather than by way of acquisition of assets it will be an active investor in the way that it manages those investments; and * if it chooses to acquire further assets it will be the intention of Xceldiam to initially rely on the corporate finance, legal and geological skills base along with the investor base that is available from companies associated with Michael Nunn to facilitate initial assessment of new projects and investments. Following which, Xceldiam will appoint full time staff to the projects should it be deemed appropriate. |
Posted at 24/5/2007 11:38 by latifs100 are these still trading..xld |
Posted at 03/4/2007 09:46 by din007 Not really sure.XLD\Petra are the only Diamond Company in my Portfolio. That is nice for divisifaction, I supose. But Petra are a to large a company, that stand out for my other stocks. That are all much smaller and that was what I was aiming for. Not that Petra dosn`t have great prospects, even more with XLDs assets to add. So maybe sell some Petra and keep the rest. |
Posted at 22/3/2007 12:45 by beaufort1 Relax guys. Petra Shares will be issued by XLD as a special dividend on 30 March. Tax implications may be dodgy as this will be treated as a distribution for UK tax purposes, therefore ?25% effective income tax on amount of distribution. |
Posted at 01/3/2007 11:10 by din007 I to was holding out for an all cash deal, as mentioned in previous News flows.All share offer - I wanted to move the cash into another Sector. New Share issued via Special Dividend - As they are buying key assets not XLD. Still hold XLD shares - Near worthless as they`d be stripped of anything useful. |
Posted at 01/3/2007 09:24 by lizafl I'm disappointed that we're going to get shares rather than cash - but we should still see some uplift from the current price. Trying to work out what it's worth to us - we'll get 368.65 Petra shares for every 1000 Xceldiam shares - by my calculations that works out at 58.25p per XLD share at Petra's current price of £1.58 per share. As I understand it these shares will be issued as a dividend, so we'll still retain our original XLD shares - though they won't be worth anything. However Petra is issuing a lot of extra shares (13%), which will presumably lead to a drop in their value. There'll also be downward pressure on the PDL share price when XLD owners start to sell out - but hopefully this will only be a temporary blip. I suppose the question is whether to sell out now, or hang on till after the takeover. |
Posted at 01/3/2007 08:51 by din007 Xceldiam Proposed AcquisitionRNS Number:0927S Petra Diamonds Ld 01 March 2007 JOINT NEWS RELEASE For release: 1 March 2007 Petra Diamonds Limited and Xceldiam Limited Proposed Acquisition of Frannor Investments and Finance Limited Petra Diamonds Limited ("Petra") (AIM / ASX: PDL) and Xceldiam Limited ("Xceldiam") (AIM: XLD), the diamond mining and exploration groups, announce that they have entered into a conditional agreement ("the Agreement") whereby Petra will acquire the entire issued share capital of Frannor Investments and Finance Limited ("Frannor BVI") from Xceldiam Limited ("Xceldiam") ("the Transaction"). Frannor BVI and its subsidiary hold Xceldiam's interests in the Luangue diamond exploration project ("Luangue"), which borders Petra's Alto Cuilo project ("Alto Cuilo") in north-eastern Angola. Highlights * The Transaction, which is conditional on the approval of Xceldiam shareholders at an extraordinary general meeting ("EGM") scheduled to be held on 19 March 2007, is an all share transaction and Petra will issue 19,674,584 shares ("the Consideration Shares"), representing 13.1% of Petra's current issued share capital, to Xceldiam in consideration for the sale of the entire issued share capital of Frannor BVI to Petra. It is proposed that, subject to the approval of Xceldiam shareholders, the Consideration Shares will in turn be distributed to shareholders of Xceldiam (excluding Petra), by way of an interim dividend ("the Interim Dividend"). Xceldiam shareholders will therefore maintain an interest in Luangue, as well as having an interest in Petra's other operations. * Based on the number of Consideration Shares, each Xceldiam shareholder (other than Petra which holds 1,555,555 Xceldiam shares that it subscribed for when Xceldiam was admitted to AIM in November 2005) is expected, assuming none of Xceldiam's quoted warrants ("the Warrants") or warrants held by WH Ireland (that were issued to WH Ireland at the time of Xceldiam's admission to AIM) ("the WHI Warrants") are exercised before the record date, to receive (subject to rounding) 368.65 Petra shares for every 1,000 Xceldiam shares held. Petra has waived its right to receive any Petra shares by way of the Interim Dividend. Certain of Xceldiam's shareholders will be subject to a twelve month orderly market undertaking in respect of the shares they will hold in Petra. * Based on Petra's mid market closing price on 27 February 2007 of 157 pence, the Transaction values Frannor BVI at #31.79 million. Taking into account the US$1.25 million cash that will remain in Xceldiam when the Transaction is completed, the Transaction values Xceldiam at #32.43 million, representing a 20.5% premium to the Xceldiam share price on 27 February 2007 and a 44% premium to the Xceldiam share price on 19 January 2007, being the trading day prior to Xceldiam's announcement that it was in advanced stage negotiations which may lead to an offer being made for Xceldiam or one of its subsidiaries. * Timothy George (Chairman and CEO, Xceldiam), Robert Kaplan (Finance Director, Xceldiam) and Richard Rice (Technical Director, Frannor BVI) will work with Petra to ensure a smooth and effective integration of Frannor BVI into the Petra group. Timothy George, Robert Kaplan and Tobin Prior, who are currently directors of Xceldiam, will resign from Xceldiam when the Transaction is completed. * It is proposed that Xceldiam's shares continue to trade on AIM and that Xceldiam pursues new investment opportunities in the mining sector in accordance with an investing strategy, details of which will be announced separately by Xceldiam in due course ("the Investing Strategy"). Xceldiam acknowledges that on 21 February 2007 it announced that it had received an unsolicited second offer for either Xceldiam or its subsidiaries which was being considered by the Board. However, on 27 February 2007, Xceldiam received a letter formally withdrawing that second offer and accordingly the offer by Petra is the only offer available for consideration. Xceldiam Extraordinary General Meeting The Transaction requires under the AIM Rules (as a disposal resulting in a fundamental change in business under AIM Rule 15) the approval of a simple majority of Xceldiam's shareholders. A notice of EGM (the "EGM Notice"), including an explanatory letter from the Xceldiam Board, will be dispatched by Xceldiam to its shareholders and a further announcement confirming that it has been sent will be made in due course. The EGM Notice will include three ordinary resolutions ("the Resolutions") as set out below: (i) that the Transaction be approved; (ii) that the Xceldiam Investing Strategy as set out in the Xceldiam circular be approved; and (iii) that the Interim Dividend in specie of the 19,674,584 Petra shares be approved and declared payable to Xceldiam shareholders on record as at 9 March 2007 in proportion to the number of shares held by such Xceldiam shareholders. It is also a requirement, under the AIM Rules, that following a fundamental disposal which results in a company holding only cash, it must adopt an investing strategy which outlines, inter alia, the nature of the investments it intends to make over the next twelve months. The Investing Strategy will be included within the EGM Notice and explanatory letter from the Xceldiam Board to be dispatched by Xceldiam to its shareholders in due course. The directors of Xceldiam have confirmed to the Petra Board that they intend to unanimously recommend to Xceldiam shareholders that they vote in favour of the Transaction and have themselves irrevocably undertaken to vote in favour of the Resolutions in respect of a total of 16,950,000 Xceldiam shares, representing approximately 30.8 % of Xceldiam's issued share capital. The Company holds irrevocable undertakings from the holders of a further 11,646,555 Xceldiam shares to vote in favour of the Resolutions, which together with the Directors' irrevocable undertakings, represents in total approximately 52% of Xceldiam's issued share capital. Adonis Pouroulis, Chairman of Petra, said "We are delighted to announce the proposed acquisition of Frannor BVI which will significantly enhance our presence in Angola. We are confident that Luangue has the potential to match the exceptional exploration developments announced at the neighbouring Alto Cuilo. We believe that Angola offers substantial potential for the discovery of major new diamond deposits, a view which we believe is shared by majors who are now focusing their diamond exploration programmes in this area." Timothy George, Chairman and CEO of Xceldiam, commented "Our progress and promising exploration developments on Luangue have been followed by Petra since we started activities in Angola. It is sensible now that Luangue continues to be developed alongside Alto Cuilo, improving the potential for the development of a kimberlite mine in the area." |
Posted at 21/2/2007 15:50 by jason8466 Interesting stuff guys. throw yer hats in for a big premium on todays share price. I suspect that those in the know within xld have alerted there friends within the diamond industry to as yet unreleased information concerning deposits of gems. Xld should end up in an auction, but do not be surprised if the management decide to go it alone. |
Posted at 11/1/2007 15:57 by lizafl XLD gets a very brief mention in today's Shares mag, in a feature on takeover prospects for 2007. They mention Petra Diamond's strategic stake, and suggest that Petra might be interested in taking XLD over if they find significant resources. Doesn't tell us anything we don't already know, but it's nice to see that XLD are on some people's radar. |
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