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Yup recent rns 27th nov.
Thats from the recent RNS isn't it? Not from an email inquiry?
"The Board remains confident that it is on track for the Egyptian sale as per the Company's earlier guidance and further announcements will be made once definitive legal documentation has been signed to effect the sale."
Bought a few pennies more this morning like you ned. If the deal doesn't complete, it will eventually, with the interested party or with others...
Deep pockets full of shares to sell ned!
Its on £20k worth, probably an daytrader hoping for the deal to happen but it hasnt happened yet.
They still expect to sell egypt asset by month end.
Why do you need deep pockets to sell ?
This seller has deep pockets - makes you wonder about what is coming.
And 24m us dollars ?
My guess.
At the end of june sdx has $6.7m cash in egypt.
They had $18m receivables in egypt.
Last year they sold 1/3 of their 55% interest for $5.5m. So remaining will be worth around $11m but they will get less.
They own 50% WI in West Gharib. Thats worth at least $5m.
So do the maths, 50% of the total ther is $18m. But i think they should get $15m..
Lets seen..
Hi
Where does your figure of 10-12m come from ?
Remember this
"It is envisaged that the Disposal, if completed, would constitute a fundamental change of business pursuant to AIM Rule 15 - the consideration, as currently calculated in the Heads of Terms, will significantly exceed the market cap Consideration Test threshold. The Disposal would therefore also require the consent of SDX shareholders being given in a general meeting. Upon signing a sale and purchase agreement, the Company will issue a further announcement and publish a circular containing details of the Disposal and convene a general meeting."
I think the disposal is near, looking between £10m-£12m for the disposal. Sdx will likely let the buyer keep the cash in egypt and receivables. Finally we can get closure from egypt.
I can assure you once it lands we will get alot of daytraders. We may even touch 10p on the day..
The sales declared are the trades they've entered into within the applicable period. The 8.3 form has to be issued as per the previously rns, the disposal means a change of terms to sdxs business
It's another sign the deal will complete and we should see some more of these. The disposals notes are not material given the overall size of their holdings.
Get it?!
Then what is the reference to a sale on each document ?
Take over ?
I think you chaps need to google what a Form 8.3 is - its NOT a TR1 and its not a sale announcement!
The secrecy will be a condition of the deal until contracts signed.Quite normal
Why sell if this sp is going to double in the near future as many say. Who is buying these shares, as from recent weeks transactions someone is. Maybe aleph
Doh, share reductions.
It looks a quite a large couple of sells at a time when we all expect a better share price soon. But I only have a record of their share holding percentages not shared held. Percentage may have changed if more shares issued as part of the aleph? Guessing or hoping!
Its just a statutory declaration of how many shares they have ahead of a takeover - see AIM rules - expect a few more in the next couple of days - sounds like sale will happen next week
If you say so, Littlened will put a positive spin on this. This company needs to tell and show its shareholders the facts. Egypt sale , why all the secrecy on sale details.