Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
These sales may be connected with coming year end, and Canadian tax on assets on 31 Dec, I have heard on other forums of dual-listed oilies e.g. TXP that many Canadians will get out of their holdings for the month of December to escape that liability, and jump back in on January 1st. Or in the case of these big guys, are they selling a chunk to cover the year end tax liability? The timing (and the fact it is two separate holders) seems to back this up. Presumably if they had major concerns over SDX they would have sold more!? But if anyone has a better explanation, happy to hear it!
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.
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
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!
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
The secrecy will be a condition of the deal until contracts signed.Quite normal
I think you chaps need to google what a Form 8.3 is - its NOT a TR1 and its not a sale announcement!
Then what is the reference to a sale on each document ?
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?!
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..
Hi
Where does your figure of 10-12m come from ?
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..
And 24m us dollars ?
This seller has deep pockets - makes you wonder about what is coming.
Why do you need deep pockets to sell ?
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.
Deep pockets full of shares to sell ned!