LSELondon South East
IIIInteractive Investor
DTMdiscussthemarket.com
SPH Ambiorix1
23 Nov 2015
Indirect good news today Phizer is taking over Botox maker Allergan (not yet confirmed but it probably will later today). We know Sinclair is selling something similar as Botox (and some pretend it could be working even better than Botox). Waiting to see how the market reacts on this important news. This is certainly going to reactivate the M&A activity.Ambiorix.
CWC idontwanttolose
23 Nov 2015
Recommended Acquisition of Cable & Wireless Communications Plc Why make it so complicated?THE RELEVANT PARAGRAPH the consideration under the Recommended Offer would represent an indicative value of 81.03 pence per CWC Share (including the Special Dividend and using the Closing Price of Liberty Global Shares on 20 November 2015);Recommended Acquisition of Cable & Wireless Communications Plc ("CWC"
byLiberty Global plc ("Liberty Global"On 16 November, 2015 the Liberty Global Directors and the CWC Directors announced that they had reached agreement regarding the terms of a recommended acquisition through which Liberty Global will acquire the entire issued and to be issued share capital of CWC (the "Offer Announcement".Illustrative calculations of Exchange Ratio and Alternative Exchange RatioCWC intends to provide CWC Shareholders with illustrative calculations of the Exchange Ratio and the Alternative Exchange Ratio on a weekly basis until the Scheme Document is posted to CWC Shareholders, and on a daily basis (on business days only) thereafter, in each case until the Exchange Ratio Calculation Time.Accordingly, CWC announces today details of the Exchange Ratio and the Alternative Exchange Ratio as if the Exchange Ratio Calculation Time were 23 November 2015. CWC Shareholders should note that this is for illustrative purposes only and that the Exchange Ratio Calculation Time is not, and will not be, 23 November 2015. The Exchange Ratio Calculation Time, and accordingly the Exchange Ratio and the Alternative Exchange Ratio, will be determined as described in the Offer Announcement and as will be set out in the Scheme Document.CWC Shareholders are advised to read the Scheme Document carefully once it has been despatched, which is currently expected to be within 4 months of the date of the Offer Announcement.Illustrative calculations as at 23 November 2015If the Exchange Ratio Calculation Time were 23 November 2015 (being the date of this announcement), under the terms of the Transaction, the Exchange Ratio and the Alternative Exchange Ratio would be calculated such that:· under the Recommended Offer, CWC Shareholders would be entitled to receive, for each CWC Share, 0.008301 New Liberty Global Class A Ordinary Shares and 0.020321 New Liberty Global Class C Ordinary Shares, as well as the Special Dividend;· under the First Dual Share Alternative, CWC Shareholders would be entitled to receive, for each CWC Share, 0.005593 New Liberty Global Class A Ordinary Shares, 0.013693 New Liberty Global Class C Ordinary Shares, 0.002343 New LiLAC Class A Ordinary Shares and 0.005739 New LiLAC Class C Ordinary Shares, as well as the Special Dividend; and· under the Second Dual Share Alternative, CWC Shareholders would be entitled to receive, for each CWC Share 0.004601 New Liberty Global Class A Ordinary Shares, 0.011265 New Liberty Global Class C Ordinary Shares, 0.002343 New LiLAC Class A Ordinary Shares and 0.005739 New LiLAC Class C Ordinary Shares, as well as the Special Dividend.At such illustrative Exchange Ratio and Alternative Exchange Ratio:· the consideration under the Recommended Offer would represent an indicative value of 81.03 pence per CWC Share (including the Special Dividend and using the Closing Price of Liberty Global Shares on 20 November 2015);· the consideration under the First Dual Share Alternative would represent an indicative value of 75.86 pence per CWC Share (including the Special Dividend and using the Closing Price of Liberty Global Shares on 20 November 2015); and· the consideration under the Second Dual Share Alternative would represent an indicative value of 66.54 pence per CWC Share (including the Special Dividend and using the Closing Price of Liberty Global Shares on 20 November 2015),based on the following:· the Closing Price of $42.79 per Liberty Global Class A Ordinary Share on 20 November 2015;· the Closing Price of $40.86 p
CPX alltold9
23 Nov 2015
Re: NOVEMBER NEWS!! Should hear this week!!
CEB alltold9
23 Nov 2015
Re: 🚀🚀🚀🚀... Not long to wait now!!
PCI Fordian
23 Nov 2015
Egypt sale There are quotes in this weeks MEES magazine (subscription sorry) from PCI saying they are looking to sell their Egyptian acreage."Petroceltic is looking to sell its Egyptian acreage. It “has received a number of conditional proposals and expressions of interest in respect of the potential disposal of certain of the Group’s producing and exploration assets in Egypt. A number of these proposals are currently under active investigation,” the firm says"If this happens then it would solve the debt problem, however, PCI would effectively become a one trick pony with just Algeria on the cards and no excitement until start-up in 2018/19. I would seriously hope they keep the offshore acreage adjacent to Zohr (the biggest gas find in the med and blatantly extending into PCI's block), with a farm down and free carry (BP, ENI or Edison are all contenders in my book, BP most likely).
PRG Pharma Brown
23 Nov 2015
Re: Not good news.....PRG delisted on 16... I read the reiteration of 'there is still material uncertainty...' as a necessary clause enabling trading to remain suspended. If there was no 'material uncertainty' then there would not exist any reason for suspension. Circular, perhaps. But so long as trading is suspended, the lender cannot have any option to take shares cheaper than about 3.75p. Also, we will have the current price, not a lower one, from which to bounce back once the details of an agreed funding package are announced.GLA
MAB II Editor
22 Nov 2015
NEW ARTICLE: Trends and Targets for 23/11/2015 "MITCHELLS and BUTLERS PLC (LSE:MAB) starts our week, simply because we notice it was mention on Interactive Investor front page at a moment when we were looking for inspiration. It's a share which is almost too obviously dangerous as the ..."[link]
PGD robers98
22 Nov 2015
Opposition 'wins Argentina presidency' Centre-right opposition candidate Mauricio Macri has won the presidential election run-off in Argentina, exit polls suggest.Polls by taken by TV stations shortly after voting closed indicated Mr Macri, 56, won, without giving a breakdown.Mr Macri, the mayor of Buenos Aires, was up against Daniel Scioli, the governor of Buenos Aires province.Loud cheers erupted at Mr Macri's campaign headquarters at the news, Reuters reported.[link]
OXS daviduzbek
22 Nov 2015
Re: The long delay. Oxus unfortunately did not complete their side of the agreement as they could not find the necessary finance despite being warned on several occasions that if the finance weren't in place at the agreed period, then there was no deal.The Chinese "concert party" fiasco blew right up in their faces leaving no time to find an alternative solution and having to accept the consequence.This failure to finance is the Uzbek defense and it's rather strong as it is clearly in breach of contractual terms, warnings were also give to Oxus that no finance would result in removal of the asset.This is really a case six of one and half dozen of the other. The longer it goes on, the more complex the problem actually is, and the harder it is to find a fair arbitration, resulting in more delays until a final ruling is published.Oxus and the Uzbek government will know about 10 minutes before anybody else of the ruling, timing and outcome, no more.
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