IntelliAM aiming for significant growth with £5 million Aquis IPO. Watch the video 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.
Of this transaction?
BDMinefinder- if you’re still on here this am, does CGP still foot the $400m bill they would otherwise have had to pay IF Solg went to production? Or do we as a joint enterprise now pay it (ie Solg).
Secondly someone worked out earlier that this will cost an extra 500m share dilution?
So is this a good deal guys?
Z
Zoros what alternative did we have? We were hitting the buffers in weeks. The BoD had no plan or direction, tge SP was heading to 5p.
THe big boys have knocked our heads together and told us what we need to do prior to a sale. The old SOLG has run its course, up a blind alley. This is the beginning of the endgame whether we like it or not.
Indeed Sean
One of the biggest obstacles to M&A action has just been removed
"This is the beginning of the end game"
I think the above statement is bang on . How this will end for LTH is anyone's guess !
So Sean, after years of bemoaning the devil that is dilution, you are now all of a sudden fine with, because there's the premise that it leads to a sale.
I'd love to see your reaction if no sale materialised. That would be for the comedy channel.
Presumably Zoros that debt will be forgiven.
So CGP shareholders get 15 of our SOLG shares for every one of theirs and no further obligations to pay for any costs accrued to date.
It's a good deal for someone and it ain't SOLG shareholders, who are the ones who have paid for everything every step of the way.
There are no costs. Just CGP's share of the costs which of course they will not have to worry about now as they become SOLG shareholders. All these costs will no doubt be factored into the the sum a 'buyer' has to pay for a 15% stake or a 100% stake. SOLG can farm out 15% to Mitsui if they like in return for £X. That's when the 'costs' come back to SOLG.
If I deal was done with Mitsui for 15% then it's a kind of round a bout way of Mitsui taking out CGP but without the obvious issues involved.
SOLG's options in terms of ENSA have increased considerably post this deal. It's also very easy to finance when you have 100% as there are no risk elements of other partners involved.
Many dismissed Irwin being quiet. Now you know why.
He wouldn't sign up to the deal if he thought he was going to be diluted to heaven and back. He signed up as he knew a deal was or is being planned.
I expect things to move pretty fast from here on as no point playing delay games now. Lets get Rio, Anglo, Fortescue, BHP, Codelco and Barrick in an auction and see where that ends up.
Greatest copper/gold discovery in last few decades. Mmm.... they all want it the monster that is cascabel.
Not sure what you are so bitter about Bozi - again I can only assume that you sold recently on the expectation it was going lower.
And yes, I hate dilution - but frankly if it's part of the endgame and not to pay for endless drilling (and certainly not going into production) and simply keeping 800 people employed - then I will swallow it, because whatever short term dilution we see it will be worth it if it leads to a sale.
And if there is no sale mate, it won't be Comedy Central, because we are screwed. Finished. Right back to the 2p you all fondly remember. Without a sale we are nothing but a cash burning exercise.
The big boys have had enough - they've told us to merge prior to a sale. As long as they follow those orders, our management are now redundant and we are on a pre-ordained path to a sale. Not the outcome many LTHs would have wanted, but we've screwed things up so badly in recent years that this is the best we can hope for - and it's not a bad outcome.
Fort - why would we merge with Cornerstone to then farm 15% out with Mitsui?
Do you not realise how daft that sounds?
Sean... lots of good things to come here now so just ignore the negativity - it's been obvious what their game has been for yonks now. Just lately it's become more clear which is embarrassing for some. You can see they are rattled.
The ENSA issues had to be resolved at some point and this deal prevents an outsider from forcing control or gaining upper hand as minority holders can be a pain in the @rse.
It's a bit like GGP offering to buy a stake off NCM and then shortly after, farming it out to Wyloo at an increased value. Unfortunately for GGP, it didn't work out that way... more like Wyloo got 10%+ for the value of 5%.
DBW the fly in the ointment for years has been Cornerstone.
We were always forced to say "If you want to do business with me, my annoying little brother has to be involved."
Talk about off putting.
Latest from Irwin
“ obvious next step prepare Cascabel for sale. Had to be done, should have happened years ago”
Fairly unambiguous I’d say
Fort, this entire BB is for shareholders to express their views on SOLG. Wanting to hear from an outfit who does this for a living makes a lot more sense than listening to the likes of you or me on here.
Yep... I'm still no fan of the man personally but Irwin is right. It's time to pull the sticking plaster off in one go and stop wasting time and money putting off what is inevitable.
We've had 5 or 6 completely wasted years now. Fine if you are on a salary, not so great if you are a shareholder.
Get Cascabel sold asap.
It may not be the first choice of those who thought they'd be getting a £1.32 payout one day, but that is never going to happen now - ad the sale of Cascabel will be transformative, both for us poor bloody infantry and for the leaner meaner SOLG going forward.
Get it done.
Morning all....wonder if he will be one of the two nominated directors to our board !!
Pinot
:0)
Careful DBW, you know that will invoke the wrath of you-know-who.
good point pinot. BHP, in theory, wont like that.
SharketMare, sure agreed. But I prefer to listen to the likes of Norges, Blackrock, Franco, Mitsui and so on. Berry street capital? Who!!??