1505186 shares traded so far between iseq and aim today. 34240976 free float shares. 4.4% of shares traded. Thats a lot. Wonder what they know that the rest of us don't? or is it just pannicked
I just hope small shareholders aren't been panicked into selling now. This is the best position pvr have been in in the last 6 months. Shares should be going up. But lack of confidence is letting very low volume collapse the price
Not sure, a lot will depend on what long term price they agree oil will be at. That will give a value to Barryroe. From this they will then agree what portion of this Sequa want to buy and agree a split of the money into cash and the rest into Sequa having to pay all costs etc. So the key will be the oil prices agreed. I also think that the delay over the last few years has some positives as well as negatives. Negative in that the price of oil has fallen, however that seems to have reached a bottom, and positive in that it shows PVR have been holding out for a good deal. I don't see any reason for them to take a bad deal now when they wouldn't six months ago.
A year ago there was nearly a one billion pound deal done. I would think that the deal will have reduced a good bit from that value. But not in terms of percentage of the deal remaining but in the value the oil to come up reducing and therefore the perceived value of the deal. I think the cash element will still be quite high. A lot higher than you think as either they will have to be paid enough to pay for their share of the barryroe development or carried by the partner for it and also receive enough cash to fund SP and repay the loan and function into the future. I don't see the point of doing a deal if that wasn't achieved. So I think Loan and spanish point 65m plus running costs into the future and other plans another 20. So I think Tony will have been looking for a good bit of money upfront and a carry on all future costs in Barryroe
Its amazing how the pieces of the puzzle are slotting in Sully. There are a lot of people talking this down but you have to think they are doing it for a reason. After all last week they were giving out that no deal was done and now we have a deal they are complaining about it. Sure none of us know the terms. They must be decent enough if the third party has to get finance for it. And why bother doing a deal if you don't think you can get the money. Waste of their time. So I think this news is all very positive
I just can't believe that there are people out there who would sell their shares for 58 pence after this mornings update.
Anoa Capital are the firm engaged to issue the bond for Sequa. According to their website they have raised substantial funds for Sequa so hopefully they will come through again
I would like to thank our issuer clients, investors, staff and commercial partners for what has been a truly exciting year and for allowing our brand equity grow steadily stronger. Against a backdrop of increasing regulatory restrictions on large banks and further pressure on their business model, Anoa Capital has deepened its franchise as a profoundly innovative and specialised firm focused on advising, structuring and placing illiquid securities for small/ midcap clients. We placed around €1bn in primary business in 2014 in 24 transactions across the entire spectrum of asset classes, which is more than the doubling of our business in 2013. Our fee earning corporate governance/advisory business based on 5 year contracts is also starting to build. If I had to highlight a few outstanding transactions in 2014 , it would be the Marché Libre listing of Sequa Petroleum N.V. for €700m and the €250 million Air Berlin bond as sole book runner.
Davy article values pvr at 592p or something like it. At a long term price of 70 or 80 dollars for a barrel of oil.
Haha Jimmy worrying about Spanish Point and equity dilution. Sure we are going to be rolling in it from Barryroe.