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Friday 3 October 2014
Morning Mumble: Afren Plc (AFR)...increase in holdings for South Atlantic Petroleum Limited (SAPETRO)
Having had a teleconference not quite via the local payphone/phone box, I thought I would share something circling on Afren. Its clear there's opportunists on AIM, after all that's the nature of the markets. There's allegedly a 150+ bid for Afren that's been tabled. Obviously it's difficult for a business to assess in the circumstances in addition to the difficulties of being able to appoint a new CEO. It's cheap, its low ball (in my view) so one will await Afren's update (if ever on the matter). Atb Fraser
Fraser- thx- it would be nice if recipients of a bid were force to disclose the offers and, if at a premium, then let shareholders decide, rather than most boards making decisions based on their own personal gains or losses. I thought that shareholders own the company and the boards should work for their benefit but that was in the dim and distance past and Ive see the opposite so often to be cynical nowadays. I guess that SAPetro will carry on buying, which we will see via RNSs over the next few weeks. Im still adding as I see value, and they are much closer to the scene and both sides than me.
This could explain it "due to an error and misquote Worthington Group (WRN.L) was an invalid trade." Gee they won't make payment on valid trades due to their errors. So the old rope can vanish after the fact...? Anyone smell burnt fingers? Atb Fraser
Having had a teleconference not quite via the local payphone/phone box, I thought I would share something circling on Afren. Its clear there's opportunists on AIM, after all that's the nature of the markets. There's allegedly a 150+ bid for Afren that's been tabled. Obviously it's difficult for a business to assess in the circumstances in addition to the difficulties of being able to appoint a new CEO. It's cheap, its low ball (in my view) so one will await Afren's update (if ever on the matter). Atb Fraser
ReplyDeleteFraser- thx- it would be nice if recipients of a bid were force to disclose the offers and, if at a premium, then let shareholders decide, rather than most boards making decisions based on their own personal gains or losses. I thought that shareholders own the company and the boards should work for their benefit but that was in the dim and distance past and Ive see the opposite so often to be cynical nowadays. I guess that SAPetro will carry on buying, which we will see via RNSs over the next few weeks. Im still adding as I see value, and they are much closer to the scene and both sides than me.
ReplyDeleteHave a great weekend. Cheers. The Leggie
Yes indeed, but then that's AIM...its shocking how many deals never happen but would add value anyway. Smoke and Mirrors.
ReplyDeleteHope your weekend is good! I'm going Peppa Insane. Just closed my Worthington short, money for old rope!
TC F
Is someone tell us the risks have changed on Worthington, to even requote there is now no offering? Hmmmm Smells of something? Atb Fraser
ReplyDeleteThis could explain it "due to an error and misquote Worthington Group (WRN.L) was an invalid trade." Gee they won't make payment on valid trades due to their errors. So the old rope can vanish after the fact...? Anyone smell burnt fingers? Atb Fraser
Delete