ADI - Adelphi Energy

[condog]

I did a quick google search and found chatter from esteon and bishopawn + others

http://www.advfn.com/lse/ShareChat.asp?sharechat=EME

ASF and i take no responsibility for content or safety of external links.

Not sure if its agent one hes referring to , but it seems like it, or its talking about similar contnet.

 

[Miner]

I did a quick google search and found chatter from esteon and bishopawn + others

http://www.advfn.com/lse/ShareChat.asp?sharechat=EME

ASF and i take no responsibility for content or safety of external links.

Not sure if its agent one hes referring to , but it seems like it, or its talking about similar contnet.

Thanks Condog or sparkling gem should I say

Yes, it looks the site you linked is the site Agent referred. Thanks again.

 

[condog]

Thanks Condog or sparkling gem should I say

Yes, it looks the site you linked is the site Agent referred. Thanks again.

Sparkling Gem??? is that a poster somewhere or are you getting affectionate towards me. Not too sure but it sounds funny, wish my boss would call me that

 

[barney]

Lol ... been waiting what seems a million years and now they are gona try and buy us out for 40 cents ..... Half the long term holders will only break even.

If Arc energy see immediate cash value at 40, what is this play really worth

I won't be giving mine away easily.

 

[Hatchy]

This is BS
I cannot believe this could actually happen.
There should be a law against this kind of muscling out.
I will only just break even on a play that I was hoping to be in for the next 5 years.

I didn't see this coming at such a low price.

AWE you are the pits and I hope you don't succeed.

 

[Bigukraine]

hmmmm,

Agentm and condog would like to hear your take on these developments,,thanks in anticipation !

 

[basilio]

Interesting play isn't it ? Just shows that the potential value of the Sugar Cane shales are being realised by the broader market.

So that means that ADI will have to spell out just how much their interests could earn and how that should translate into current /future value for the company. Hopefully that will either raise the offer, bring in new bidders or convince shareholders to stick around. (Depending on whether there are some big guys who want out and can swing the game.)

It will also throw the spotlight on AUT given their share of the Sugar Cane interest. And of course if successful it will give AWE a big boost in value.

 

[Hatchy]

It could be that we are seeing just a low ball first offer. Fingers crossed everyone.

The issue I see is that AWE once establishing a controlling share can just take the rest by force. That's why I think their actions are deplorable.

I would really like to say what exactly i'm thinking, but it's against forum rules for bad language.

 

[adobee]

Seems a bit low and opportunistic to me.. they have done well to pick up an extrat 1% holding without any major share growth .. maybe they are just making an offer to inflate the value of there current holdings .. I wont be selling for less than $1 !

 

[Hatchy]

Seems a bit low and opportunistic to me.. they have done well to pick up an extrat 1% holding without any major share growth .. maybe they are just making an offer to inflate the value of there current holdings .. I wont be selling for less than $1 !

Good to hear adobee, I'm with you.

What's your take on them just taking it by force once all the opportunistic sellers that picked up shares at 6c sell up?

 

[cicak_kupang]

NOT OVER MY DEAD BODY AWE! well, not at 40c. Come back witha $1+....
A bit bloody rude i think, even if they are allowed to do it...

 

[Agentm]

be staggered if management endorse the takeover offer

not close to the potential value this play offers

but it sure is a strong endorsement of how good that sugarkane is

i suggested a takeover myself a few weeks back, use the $10 mill cash to partially fund the payout of the shares

pretty clever move but i cant see it succeeding in its present form..

 

[gdaf]

be staggered if management endorse the takeover offer

not close to the potential value this play offers

but it sure is a strong endorsement of how good that sugarkane is

i suggested a takeover myself a few weeks back, use the $10 mill cash to partially fund the payout of the shares

pretty clever move but i cant see it succeeding in its present form..

There are some questions that need answering:

- Why did they just raise 5m?

- How many shares do AWE need to obtain a controlling stake?

- How many of these potential shares that are trying to be obtained by AWE are owned by directors?

- How many are owned by us? IMO a tally should be started today that illustrates the collective percentage of shares held by ASF and Hotcopper users to give all holders an indication if their shareholding will make a difference to the prospect of AWE gaining a controlling stake. I'm happy to divulge my percentage holding, but would like to see others support this idea first.

 

[adobee]

Does ADI now stay in a trading halt ? If so for how long ?
How does the on market take over work .. they have a bid in at 40c for 10000000 shares .. people just sell now and they buy them up or they fill out a form ? It doesnt allow others to take it higher on the presumption of a higher bid etc ?

 

[lemontree]

From my understanding, starting from next month, whoever decides to sell their shares to AWE can do so at 40c until the offer closes in july. Since it's unconditional i think you can just sell it off the bat, with no strings attached. Until next month, ADI will not be open for trade.

 

[noco]

Will ADI share holders have a choice or will it be TAKE IT OR LEAVE IT?

I'm with the others, $1.00 minimum or they can shove it where the sun don't shine!

 

[gdaf]

Macquarie to buy Adelphi for AWE [MQG] [AWE] [ADI]
Mon 17-May-2010 09:07


Investment bank Macquarie Group Ltd has offered to buy petroleum explorer Adelphi Energy Ltd in cash on behalf of AWE Ltd, an oil and gas company.

Macquarie will pay 40 cents per Adelphi share on market in an unconditional offer, the Sydney-based investment bank said in a statement on Monday.

Shares in Adelphi, in which AWE already has a 33.8 per cent stake, closed at 28 cents on Friday, meaning that Macquarie's offer represents a 43 per cent premium.

Macquarie said it would accept Adelphi shares up to the close of trading on July 9, up to a maximum of 112 million shares, the number not already owned by AWE.

The offer period could be extended and the price may be increased in accordance with the corporations act, Macquarie said.

AWE chairman Bruce McKay encouraged Adelphi shareholders to accept the cash offer as soon as possible.

"As the Offer has no conditions it is able to be accepted immediately on market, with cash payment three trading days after your acceptance," Mr McKay said in the bidder's statement.

"I believe that AEL's Offer... is a compelling proposition."

 

[adobee]

what date would we expect to see some feeback from the directors .. this will obviously have a bearing on whether the offer will be increased. ..

I am a bit perplexed as to why we did the cap raising which if not done would have meant an offer price of 50c + and why the directors were buying more shares very recently.. will be interesting to see what they recommend ..

 

[basilio]

From my understanding, starting from next month, whoever decides to sell their shares to AWE can do so at 40c until the offer closes in july. Since it's unconditional i think you can just sell it off the bat, with no strings attached. Until next month, ADI will not be open for trade.

Whoa!!! I would have thought there would need to be an immediate response from ADI management regarding the offer. In the circumstances that should outline the results from the current drills and the evident potential of the fields.

It is a very cunning play. The market is falling through the floor so suddenly almost any offer looks good. The highlighting of the "43% increase in value" for the shares is IMO quite misleading. It translates into just 12 c a share difference between the last sale and the proposed buyout. Given this is an oil play which is already showing excellent results with possibly very big profits the extra 12c seems miserly.

On the same theme I am surprised and bit suspicious at the way ADI shares have actually fallen over the past week or so. Given the drilling results a realistic expectation is that there would have been net buying pressure to push the shares to the low/mid 30's or higher. But they have actually fallen - and coincidentally there is now a takeover over bid theoretically based around a low SP of 28 cents.

Now why does that smell fishy when Maquarie Bank is the takeover merchant? I think it would interesting to see the trades made over the last couple of weeks.

It is also not unusual for a small mining company with a big brother to eventually be taken over. Happened to PES, could easily happen to ESG. The important point is to somehow ensure that current ADI management ensures that other shareholders get a fair return and sufficient information upon which to make a decision.

 

[philly]

Does ADI now stay in a trading halt ? If so for how long ?
How does the on market take over work .. they have a bid in at 40c for 10000000 shares .. people just sell now and they buy them up or they fill out a form ? It doesnt allow others to take it higher on the presumption of a higher bid etc ?

ADOBEE
ADI is not in a trading halt
if someone wants to sell ADI then they tell their broker to sell to Maquarie and they get the 40 bits of silver in T + 3 days as normal. No forms to fill.

Memo to AWE pay up your subscription fees to Hartleys and come back to us when you are serious