LK Hyman
28 Jan 2016
Re: BG shareholders back £35bn takeove... Idontwantto,No surprises that 99.5% of the votes were in favour of the deal. I wonder why any BG shareholder voted against it.LKH on the flybridge
picstloup
28 Jan 2016
Re: worse to come £8 target 638<<<my software STILL quoting this..perhaps the offer to be withdrawn??__________ __________ __________ __________ Wonder if lambrinigirl's software is the same one that had her tipping National Grid at £6.50 (now £9.60), Unilever at £20 (now £30), Reckitt Benkiser at £40 (now £60) and Admiral at "a tenner" (now £17.50).
idontwanttolose
28 Jan 2016
BG shareholders back £35bn takeover by Shell 28 January 2016Results of Court Meeting and BG General MeetingBG announces that at the Court Meeting and the BG General Meeting held earlier today in connection with the recommended cash and share offer made by Royal Dutch Shell plc ("Shell"
to acquire the entire issued and to be issued share capital of the Company (the "Combination" to be effected by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme", BG Shareholders voted to:- approve the Scheme at the Court Meeting; and- pass the Special Resolution to implement the Scheme, including amendments to the BG Articles, at the BG General Meeting.Details of the resolutions passed are set out in the notices of the Court Meeting and BG General Meeting contained in the scheme document published on 22 December 2015 in relation to the Combination (the "Scheme Document".Voting results of the Court MeetingThe table below sets out the results of the poll at the Court Meeting. Each Scheme Shareholder, present in person or by proxy, was entitled to one vote per Scheme Share held at the Voting Record Time.Results of Court MeetingNo. of Scheme Shares voted% of Scheme Shares votedNo. of Scheme Shareholders who voted% of Scheme Shareholders who votedNo. of Scheme Shares voted as a % of issued ordinary share capitalFOR2,082,190,67199.5353,83887.3260.92AGAINST9,839,7870.477,82012.680.29TOTAL2,092,030,458 61,658 61.21Voting results of the BG General MeetingThe table below sets out the results of the poll at the BG General Meeting. Each BG Shareholder, present in person or by proxy, was entitled to one vote per BG Share held at the Voting Record Time. FOR*AGAINSTTOTALWITHHELD**Special ResolutionNo. of Votes% VotesNo. of Votes% VotesNo. of VotesNo. of VotesApproval of the implementation of the Scheme, including amendments to the BG Articles2,081,924,65999.559,360,5650.452,091,285,2245,131,084The total number of BG Shares in issue at the Voting Record Time was 3,622,568,678 of which 204,570,932 were treasury shares, which do not have voting rights. Consequently, the total voting rights in BG at the Voting Record Time were 3,417,997,746.* Includes discretionary votes** A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'For' or 'Against' the Special Resolution.Effective Date and TimetableAs Shell has announced, Shell Shareholders passed a resolution to approve the Combination at the Shell General Meeting held yesterday. Following today's approval of the Scheme and the Special Resolution by BG Shareholders, completion of the Combination remains subject to the satisfaction or waiver of the remaining Conditions set out in the Scheme Document, including the Court sanctioning the Scheme at the Court Hearing, which is expected to be held on 11 February 2016. Subject to the Scheme receiving the sanction of the Court on that date, the Scheme is expected to become effective on 15 February 2016.The expected timetable of principal events for the implementation of the Scheme remains as set out on pages 17 and 18 of the Scheme Document.A copy of the Special Resolution passed at the BG General Meeting will shortly be submitted to the National Storage Mechanism and will be available for inspection at www.morningstar.co.uk/uk/NSM. Capitalised terms used but not otherwise defined in this announcement have the meanings given to them in the Scheme Document.In accordance with Rule 26.1 of the City Code on Takeovers and Mergers, a copy of this announcement will be available on the website of BG at www.bg-group.com by no later than 12.00 p.m. (UK time) on the business day following this announcement.Notes to Editors:About BG:BG (LSE: BG.L) is a world leader in natural gas, with a broad portfolio of busin
II Editor
28 Jan 2016
NEW ARTICLE: The Oil Man: Shell, Kosmos, Victoria "WTI $32.50 +85c, Brent $33.10 +$1.30, Diff -80c -45c, NG $2.19 +1cThe market remains full of chatter about an OPEC/non-OPEC meeting to discuss production cuts, but is acutely aware that expectations should not be raised too much.The Energy ..."[link]
shovelier
28 Jan 2016
Re: Share Price LK,'Appen thee's right. Fast modest buck against longer term bigger buck.I too wanted to increase my holding in Shell as BP's not doing much at the mo.Although having said that it has ticked a tad of late maybe on the back of this Shell/BG business.
Broncomaniac
28 Jan 2016
Re: Share Price Just to add my view in case anyone is interested (and isn't that why you visit a BB?); My portfolio is currently sitting at 6.3% BG, 4.7% BP and 3.3% BHP. Nursing heavy paper loses on the BHP natch...I will be taking the default option and deploying the cash elsewhere. I think my oil exposure is high enough currently, in fact I increased the BG holding back in August to ensure that my eventual Shell weighting would be reasonable post cash distribution.I will perhaps use some of the cash to prop up my BHP holding, but I'd like to see some clarification of the dividend policy first (i.e. wait until they cut it before buying more). the time we get the cash perhaps other good opportunities will come to my attention.
LK Hyman
28 Jan 2016
Re: Share Price Shovelier,"Unless the RDSB price goes rocketing up after the deal completes surely I'd be better off selling them now? Wouldn't I?"Not necessarily. If it is true (and it probably is) that numerous hedge funds went long on BG and shorted Shell when the deal was announced, because they felt that Shell was overpaying but that the deal would eventually complete, that particular trade is now over. So it's logical to believe that Shell has been oversold and has a reasonable chance of rising rather than falling from here on in.I certainly intend hanging on to the Shell shares which I will receive for my BG shares and might well use the cash element as well to maintain my weighting to Big Oil which would otherwise fall.That massive Shell divi, combined with Ben's assurance that he'll maintain it through 2016 (which I assume means until the divi paid in April 2017), is mighty reassuring. And it'll still be a chunky divi even if he has to halve it thereafter, which provides pause for thought.LKH on the flybridge no point selling after a big fall unless you think worse is to come
PIE-EATER
28 Jan 2016
Re: Share Price Why not just complete the circle?Autumn....sold RDSB for BGNow....(presumably) vote passed and cash subsequently receivedLater re-buy RDSBYour asset allocation hasn't really changed - all you have done is take advantage of the discount of one half of a deal. If you didn't believe in it fully long term then gambling on a perhaps 10% discount uplift isn't something I would do, especially with an unpredictable oil price but then each to their own thoughts.I already had a small position in RDSB and wanted to increase slowly so saw the BG deal as a slightly leveraged way of doing it.GLAPE
picstloup
27 Jan 2016
Re: Share Price So, my BG shares are 11% up on my purchase price. Unless the RDSB price goes rocketing up after the deal completes surely I'd be better off selling them now? Wouldn't I?__________ __________ __________ __________ __________ _______Possibly. But where else would you get near 10% divi income and some hope of decent capital gains, unless everything really does end up down the drain?I switched my Shell into BG in the autumn, and have therefore lost a bit less money than if I'd stayed put, but not much. When the Shell dosh arrives in my account, I have really no idea what to do with it - roughly 2.5% of my wad.
shovelier
27 Jan 2016
Re: Share Price So, my BG shares are 11% up on my purchase price. Unless the RDSB price goes rocketing up after the deal completes surely I'd be better off selling them now? Wouldn't I?
idontwanttolose
27 Jan 2016
Re: Share Price The important thing to think of at all times is not what happened in the past but what will happen in the future. I think Shell at the current price represents an attractive opportunity for the future, but we shall see ... in that future.My thoughts exactly LKH, I will be buying RDSB once this BG. deal has gone through!!
LK Hyman
27 Jan 2016
Re: Share Price Bobb,"Guess I should have sold them last April. 
"Don't knock yourself out, m8, it's easy to be wise after the event. No-one foresaw the extent of the oil price fall, otherwise the share prices of Shell and BG would have fallen more quickly than they did.I managed to call it right from the point of view of the deal going through (and therefore the relative price movement of BF versus Shell) but, despite a lifetime in the oil business, I didn't foresee that the share prices of both companies would fall in absolute terms. That is what what really matters.The important thing to think of at all times is not what happened in the past but what will happen in the future. I think Shell at the current price represents an attractive opportunity for the future, but we shall see ... in that future.LKH on the flybridge
Bobb the Builder
27 Jan 2016
Re: Share Price Thanks LKH,Guess I should have sold them last April.
LK Hyman
27 Jan 2016
Re: Share Price Bobb,"Shouldn't the SP be closer to the £13 offer?"Alas, no, m8. The Shell offer is £3.83 per share in cash, plus 0.4454 Shell shares for each BG share. So, based on today's closing price of £14.62 for Shell, each BG share is "worth" £3.83 +0.4454*£14.62 equals £10.34, which is, as near as a toucher, the closing price of BG today.Your BG shares would only be worth £13 if the Shell share price had been the same today as it was back when the offer was originally made in April. Sadly it has tanked horribly, in line with the fall in the oil price.LKH on the flybridge
Damp Seaweed
27 Jan 2016
Re: A minute to go! LKH,"the arbitrage opportunity as regards the mix of shares and cash that BG shareholders should go for."Now I know a lot can happen in 2-3 weeks but, as of close of business RDSB is at 1462 and that arbitrary figure quoted was ~1469. So currently there is no arbitrage I will keep one eye cocked on 9th Feb, but I doubt I will be bothered changing the default option currently in place. RDSB price < 1400 or >1540 might change my min
