MikeyAdmin
14 Feb 2020
Level 2 Brent doing bit better . . . $56.96 . (+0.83) . (+1.47%) . . . (15mins delayed) Close . . . . 182.20 Open . . . . 185.00 High . . . . .185.00 . . . 08.00.10 . . UT Low . . . . . 182.40 . . . 09.51.44 . . AT MD Auc . . 2 @ 183.20p Full 252,063----263,828 47----46 LSE Vols . . . . 220,269 . . . 168 trades AT trades . . . 136 OT trades . . . 32 . . . 12.02.02 Spread 182.80----183.2 . . . Mid 183p
MikeyAdmin
14 Feb 2020
Opening Prices Pre opening Screencast.com 2020-02-14_0752 Shared from Screencast.com
MikeyAdmin
14 Feb 2020
Opening Prices FTSE100 . . . 7,452.03 . (-82.34) . (-1.09%) Brent Crude . . . $56.14 . (+0.43) . (+0.77%) GKP . . . 54,051 @ 182.2p . . . . . . . . . . . . . . . . . . . . . . . . . . . . FTSE100 . . . 7,448.85 . (-3.18) . (-0.04%) Brent Crude . . . $56.46 . (+0.12) . (+0.21%) . . . (15mins delayed) OP . . . 4 @ 185p 1,000 @ 180p, 2,000 @ 179, 178 & 177p, 5,000 @ 178p, 10,000 @ 175, 173 & 170p, 20,000 @ 160 & 158p = 102,000 15,000 @ 188, 189, 192, 193 & 196p, 25,000 @ 202p, 40,000 @ 23p, 12,000 @ 249p = 152,000 Book at c.8.03am 186,284-----245,833 36----34
ValueSeeker8
13 Feb 2020
Transactions in Own Shares RNS - Transaction in Own Shares Best Regards @ValueSeeker8
ValueSeeker8
13 Feb 2020
UBS, HL and Hof Hoorneman topping up! @MikeyAdmin, The total value of the Secured Notes was $250 m, of which only $150 m were swapped for 65.5% equity. While the value of the CBs was $325 m, all of it was swapped for 20% equity. In addition and Open Offer to raise $25 m for 10% of equity while 100% pre-restructuring shares were squeezed to just 4.5% of equity including Capital Group’s holding of 124,067,316 shares representing 12% of GKP’s equity prior to the restructuring. This is fully explained below: image.png863x233 8.59 KB From the above CG got an allocation of 1,835,436,538‬ shares for debt equitisation. Be that Senior secured notes or convertible bonds. CG ended up holding just 8.54%. According to the 31/08/2016 prospectus the allocations were as detailed in the second column of the table below: From the above circa 100 shares were issued for the equitisation of every $1.00 worth of senior secured note. And in that context, CG was only a minor player compared to at least 3 others with regard to senior secured debt. Compare CG’s allocation with that of Sothic Investments: image.png881x234 7.87 KB Sothic had 0 shares and ended up holding 14.01%. That couldn’t all have been from CBs could it? or Lansdowne Partners: image.png860x234 8.26 KB they had less than 5% of GKP and ended up 9.83% GKP. or Taconic: image.png860x233 7.81 KB they also had less than 5% of GKP but ended up with 13.79% of GKP. There are also many other minor players: Cowell and Lee Asia Credit and GLG partners. So, as you say Senior Unsecured Notes had first shout and most of it was held by Entities other than Capital Group. In fact, if anything Capital Group had the most to loose as they were holding 12% of GKP. Best Regards @ValueSeeker8
MikeyAdmin
13 Feb 2020
Closing Prices Close . . . . 186.80 Open . . . . 186.60 High . . . . .189.60 . . . 08.00.14 . . OT Low . . . . . 182.20 . . . 08.49.54 . . AT MD Auc . . 38 @ 186.2p LSE Vols . . . . 659,120 . . . 329 trades AT trades . . . 254 . . 77.2% OT trades . . . 75 CP . . . 54,051 @ 182.2p FTSE100 . . . 7,452.03 . (-82.34) . (-1.09%) Brent Crude . . . $56.14 . (+0.43) . (+0.77%) . . . (15mins delayed) Sorry. my PC decided to update its self
MikeyAdmin
13 Feb 2020
UBS, HL and Hof Hoorneman topping up! All the Bonds where Secured against the Asset >Shaikan< GKP’s Funders exchanged money for Shares on the Primary Market and those Shares where sold and bought by PI’s through Secondary Market. Shares or Share Holders “do not†have any claim against any Assets a Company Holds as the majority of Shares Holders bought their Shares on the Secondary Market. If GKP went bang today . . . only the Bonds would have a claim against the Company Assets Shares are not secured against any Assets
MikeyAdmin
13 Feb 2020
UBS, HL and Hof Hoorneman topping up! VS8 The “Senior†Bonds got the first shout over GKP’s Assets in the event of Bankruptcy and the normal Bonds then got the rest. BUT, the KRG would not have signed Shaikan over to a group of Hedge Funds, so while Capital with their Senior Bonds would at least get a few hundred thousand Dollars all interest parties would have lost, Capital Hedge Funds and Private Investors If GKP folded Capital would loose the Shares they held and a good part of their GKP Bonds, so Capital holding the Ace Card with the Senior Bonds forced the Hedgey’s to accept Shares in exchange for the Bonds, when the Hedgey’s had caused to drop in value and bought up on the cheap The Hedge Funds bought the Bonds because they where the “only†part of Debt that Shaikan was secured on that they could Buy, and I watched on the Zurich Bond Market buying the Bonds as they come up for sale. The Hedgey’s actually bid against one another to buy the Bonds and the more powerful or richer Hedgey’s ended up with the most Bonds, which where Lansdowne and Sothic Capital They then where forced to exchanged the Bonds they had bought from the original Bond Holders for Shares, as they had no choice . . . it was take the Refinance package or get nothing. As it happened, the Hedge Funds got less than 50c in the Dollar for there Bonds while Capital got $100,000,000 (the full value) of their Senior Bonds . . plus . . got another 5 year extension at 10% per year as a thank you . . . and even after the present Bonds mature . . . Capital will get Shares in exchange for their Bonds or $100m in Cash
ValueSeeker8
13 Feb 2020
UBS, HL and Hof Hoorneman topping up! MikeyAdmin: I think you will find that the old Guaranteed Senior Notes where held by Capital I don’t think so, all those hedge funds who got 65% of GKP’s equity for a mere $150 m, ex-shareholders such as Taconic, GLG etc. as well as current ones: Lansdowne Partners, Capital Groups have their fingers in the pie. Best Regards @ValueSeeker8
MikeyAdmin
13 Feb 2020
UBS, HL and Hof Hoorneman topping up! And remember that Capital was run by a chap that was booted out, so the new chap in charge is a new brush
MikeyAdmin
13 Feb 2020
UBS, HL and Hof Hoorneman topping up! I think you will find that the old Guaranteed Senior Notes where held by Capital, which is why they managed to force through the Bond Vote, so by the same token the new Issued Bonds will have covered Capitals surrendering the old Notes in exchange for a longer lasting Issue
ValueSeeker8
13 Feb 2020
UBS, HL and Hof Hoorneman topping up! They might be UK based, but some are not UK companies. GKP’s largest shareholder Lansdowne Partners, for example, holds shares on behalf of Morgan Stanley: image.png776x174 6.35 KB also BlackRock Inc: And then we’ve got the issue of the needless $100 m bond with 10% coupon. The bond was issued in mid-2018 to pay off the $100 m Guaranteed Notes with 10% coupon (what a coincidence! they both have 10% coupon ) at a time when GKP had more than $250 m cash sitting in the bank doing nothing! I think this bond is an intimidatingly large American flag on a long pole still wavering over GKP. Best Regards @ValueSeeker8
MikeyAdmin
13 Feb 2020
Level 2 IMO its looking like it will be a level day . . poss up 2 down 2 Close . . . . 186.80 Open . . . . 186.60 High . . . . .189.60 . . . 08.00.14 . . OT Low . . . . . 182.20 . . . 08.49.54 . . AT MD Auc . . Full 209,518----259,501 39----49 LSE Vols . . . . 146,075 . . . 72 trades AT trades . . . 46 OT trades . . . 26 . . . 10.00.00 Spread 182.60----183.20 . . . Mid 182.9
MikeyAdmin
13 Feb 2020
UBS, HL and Hof Hoorneman topping up! VS8 if you check out the GKP Hedge Fund shareholders you’ll find that they ain’t US Co’s. Lansdowne Partners are UK & Austria based Sothic Capital Management is UK based Capeview Capital are UK based Taconic Capital is an International Co’ and its hard to nail down just where they are based. G&G Capital are based in Delaware USA There’s two more I can’t remember but the main base for GKP Hedge Funds are the UK
ValueSeeker8
13 Feb 2020
UBS, HL and Hof Hoorneman topping up! MikeyAdmin: disproving the claims that GKP has “arranged a takeover†or is being taken over soon are completely false. I agree, it is both disgusting and disturbing that some think GKP is/about to be sold! What is noticeable from the shareholder analysis that a complete reversal of shareholder base type is taking place: the American, hedge-fund like type is reducing while the independent individual private investor is topping up! Very positive IMO. Is that an early signal that a complete reversal of GKP fortunes is taking place? Has the interfering American hedge funds lost control of GKP? I can’t tell for sure, but time will tell. Best Regards @ValueSeeker8
