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I too watched and listened to the Lloyds AGM today.
I found it quite shocking that some individuals were prepared to stand and accuse the Board of Directors being Liars and Criminals, not off the cuff remarks but genuinely serious allegations.
Sadly the critical though plausible arguments o f the Shareholders were very poorly rebuffed in my opinion, the Board either hiding behind lack of knowledge or some form of judicial review.
I cannot believe for a moment we are supporting a bunch of Criminals as suggested by those individuals. I do believe however the Board was put to an ignominious display by the statements made by a few individuals with the Board offering a very poor retaliatory response. What do you think ?
Nige. The film Atomic Blonde I watched this evening, lived up to my expectations. She was brutal. Killed/maimed everyone all the time. Better than 007.
Importantly, she grabbed my attention; unheard of these days as I have a short attention span now since I started getting older. Not tonight, I watched every minute of the 90 minute film. I actually dont like violence but did tonight. Yes, because it was a blonde doing the killings. :-)
Great stuff. Lol
P.S. I appreciate the fact you like Loadsadoughs stocks but please take the discussion into their respective bb, not in the ACTA bb. Weve had enough, honestly. And Im being polite here. Best wishes.
Temu, nowadays.... Surely Temu .... folk like TW & Temu ..... Temu used to....Temu is
Still obsessed with me Lawrence Thought you'd had counselling for that and the fantasy world you live in.
As for VOG, well what's to say, it started to go wrong when the drilling went from bad to worse, $40m to $90m, and a stuck gun to boot.
ENEO pulling the plug (no pun) was an unexpected kick in the revenues. Both of those have cost the company $10's of millions in a single year. It's almost a surprise the SP has held up so well. All is far from lost with VOG, but the grand plans have taken a severe knock.
I still have an investment in VOG, but it's 4th biggest now not 1st, but even if I sold all my shares here, I've enough respect to existing holders, or new ones, not to Tr0ll the board. It's called having class, something I doubt you'll ever understand, or have
I shouldn't have said anything I do agree word by word with what you say but ..I should just avoid commenting ! I don't want to start the usual bb war lol .
Apologies to all . We all have as much right to ramp or deramp I suppose . I just feel that there should be some disclosure in advance . Not after the fact . Some rationale . Otherwise it appears a bit false even if true
Sorry Elena and Shugg1e . I too trade CFDs and have quite a position long as posted live ( the 4 positions between 65 and 71 are all posted live ) .
PTN - I don't think Trump has pushed Kim into a corner. I think "little rocket man" has retreated to his own corner because he thinks Michael Pence is stupid and he has been totally peed off by the "Libyan" comments from warhawk John Bolton. Effectively Kim is the achiever. He still has powerful allies, he has demonstrated his nuclear and ballistic missile capability , he has an iron grip internally and he has recently been "courted" by the South Korean regime. He can't surrender any of his advantages because they are his leverage (present and future) and the passport to financial aid (or pay-off).
Then there is the hatred by Trump and the GOP of "all things Obama" and their constant rapacity for repeal, replacement or total destruction. Rather than rabbit on (and upset those who disliked anything OT on this board) just take a look, ptn, at today's comment from Huffington Post sources... There's where it all stems from.
While I dont think that Barclays will lose their licence, I do agree with your sentiments. I loathe everything about Barclays with a passion. For a long while now they have had a very bad culture. My local branch is particularly bad on attitude. I have a long running dispute with Stockbrokers over a much delayed transfer to another broker where they are nickelling and diming about paying our losses never mind compensation. I have other examples of past bad behaviour. They are just awful in every respect. I would be ashamed to say I work for them.
This has been going on long before Staley but he does seem a wrongun. Looking for a whistleblower is just bad behaviour.
Culture starts at the top and whilst Staley is there just what example can he set now? Anybody listening to him trying to improve matters would fall about laughing.
My guess is Johnny Mac would like to get rid and one of the benefits of a link up with STAN would facilitate this as Winters would take the top job. Bye bye Jes.
Unlike others, I do think there is a fit but I dont think the time is right just now. In due course it could be a challenger for HSBC.
Maybe later when STANs Deferred Prosecution Agreement is behind it and the Quatari nonsense is past.
Alaric..this looks like someone in suncrust has been over cooking the original deal to their members!!..as sle have done their due diligence with this deal.. and crusty with their over cooking has now leaked over .. maybe the cook as been found out and their kitchen is in turmoil..their recipe spoilt and the cover up of that mess now cannot be hidden.. whats the saying!..too many cooks/crooks!!.
imo sle has done nowt wrong..Ive read that aim doc up&down.. suncream have received cash & shares..they accepted them at 45p..
maybe they should look at those non holder/s who have stated manipulating sle sp and running a tirade against sle and its shareholders .
Trump is just the ringmaster of the evangelical and money-making circus bought and paid for by big organizations like NRA, Koch Bros, Adelson etc etc. ==================================desertjoe
All really worrying why would anyone even Trump push this KIM nutter in a corner so he has nothing to lose.. Nuclear war is no good to the winner or loser..
Think I can top you. After the warehouse fire at Buncefield I thought ASOS were over sold at 70p. Bought 10,000. Thought I was a smart ar*e when I sold them at £1.50.Hate looking at their sp now.
"My hope is Congress will stop Trump damaging the economy." Wishful thinking, stutes ol' buddy.
Trump is just the ringmaster of the evangelical and money-making circus bought and paid for by big organizations like NRA, Koch Bros, Adelson etc etc. You are looking at oil ( there's a fortune invested in US shale which now needs a ramp up in prices to recuperate the development costs), arms sales (remember Dubbyer's VP, Dick Cheney?). Scrap all controls on environmental pollution and regulations in general ( Hello Kochs -that'll save you $ millions). You can see where the moneymen's lobbying has taken us ( Netanyahu is embedded with tRumpo and Iran is real bad news).
Meanwhile the "top dogs" in Congress are set up as millionaires for when they eventually drop gracefully out of power. ( your former PM, John Major, went thataway I believe, with appropriate directorship from Carlyle Group ).
Perhaps even Senhor Osório might star in a future episode of "Game of Thrones" to top up his retirement so we can all get a bigger divvy?
In part I think too many traders expected fireworks, some sort of revenue figure pulled out of a hat. BOD were never going to do that as it is too risky for the long term prospects. The other sell pressure is most likely CoreSpreads forcing their client (me being one) to close their position in OPTI. This is likely to continue until the end of May, being the cutoff.
There is of course the conspiracy bailout funding, which is not going to happen. There is no way SOH would do this as it would be worse then offering revenue guidance and missing them forcing a profit warning. So I don't see OPTI selling and SBTX for additional funds and I don't see a II placing for the same. £1.25m plus £200k from warrants will be enough to see us through.
S&U present at our London seminar on the 13th June which may be of interest to shareholders or potential investors, limited places available: hTTps://www.sharesoc.org/events/sharesoc-growth-company-seminar-in-london-13-june-2018/
is not guaranteed as it is not something they have to do.
I had a chat with HQ this week and i gather they have been fielding a number of calls from
none too happy shareholders.
It was mentioned to me that the last rns which talked about our prospective pipeline being at an all time high had seem to be ignored.I pointed out that prospective did not necessarily mean done deals.
Was also told that there is a lot of work going on behind the scenes and that we have secured global patents - again this is no guarantee of anything as the patents are secured
in the hope that deals will follow.
I was also told that any material event would necessitate an rns and as there has not been one...
Was also told that DSM still regarded FF as a star product.
!!!NO PRICE SENSITIVE INFORMATION WAS DIVULGED!!!!
The update still shows advertising revenue soft. I hold the view DMGT should break itself up and return surplus cash to shareholders. Each business should only be part of the Group if it adds value otherwise it should go.
ZPG and Euromoney holdings sold or probabily sold down yet the paper side remains as part of the Group - should it receive investment or not?
Short interest has increased this month quite a bit. Maybe theyve had an effect on the sp recently?
The biggest short AQR has steadily reduced, now down to 1.79%.
Lot of other shorters going the other direction.
Joining the party late ?
Total reported shorts now up to 7.74% so back up from 6%.
Lets hope they get burned for it.
There are a few.. (Elena, and Shuggle) are the latest two here who post pure guesswork but attempt to dress it as fact.
I have said all along $100 Oil..
That to is a guess, but its a guess based on Middle East tensions.
China, India development... etc etc..
Just as Analysts are guesses..
And just as your charts are... BUT.. with much input into research of historical trends etc..
But these 2 try to play the people... The people who may be gullible enough to fall for the spiel... Truth is.. It aggravates me no end..
Much like yourself, I really have no need to be here, except I like it when plans go right..
I am fuming about past 2 days drop, yet am able to see the ridiculousness of it..
"If" I were a trader I would be playing this now...
I very likely would have bought in tranches from the fall from £1.30p
The two mentioned play the people... Its all hindsight..
Ask them outright... What and where will the price be tomorrow... Next week... ask them to tie themselves down to a point and to clearly state where their buys and sells will be placed prior to the events.. Not After..
Heck, both their comments have as much credibility as me saying I went short at £1.29 and closed it at £1.17p today... We all know I didnt, because I make it clear I do not SB nor trade CFD's...
My opinion - before I looked at these numbers, I just assumed that MKS was a basket case, probably heading towards eventual failure. The figures & narrative paint a very much more positive picture.
Store closures (of loss-making sites) could increase profits considerably over the coming years. New management seem focused on delivering a serious reorganisation of the company. I'm amazed that MKS doesn't seem to do a proper Ecommerce food offering. All I could find was party food that you had to pre-order about 5 days early. How ridiculous! Why doesn't it do a proper groceries delivery service?
Most people seem to agree that MKS clothing is lamentable these days. So that's another potential area for improvement.
With all these problems, that MKS is still generating EBITDA of £1.25bn, says to me that there is a cracking business here, which is partially obscured by all its well-known problems.
I can scarcely believe myself saying this, but based on my review of these figures, I'm minded to go long of MKS shares - for the divis, and the recovery potential, plus the highly cash generative nature of the existing business.
Short covering? Here is the FCA latest list of disclosed short positions in MKS. It adds up to 12% of the whole company.
I reckon those shorters could well have got it wrong, and could become forced buyers, if they come to the same conclusion. That could create a very interesting short squeeze, and take the share price up considerably, as those shorts try to buy back 12% of the company. Just look at the short squeeze which happened at Ocado (LON:OCDO) recently.
I think MKS could have maybe 20-30% upside on it from the current price of 307p. The very generous divis, which are comfortably covered by cashflow, is also likely to attract buyers I think.
As usual please do your own research. I'd particularly like to hear from anyone who disagrees with me, and views MKS negatively, and your reasons why.
EDIT: I opened a long position on MKS the following day, after writing the above.
indeed linksdean and as far as sun trust is concerned two words spring to mind: 'clutching' and 'straws'. depending on which bits of the Nigerian press you read, they seem to be having a pop at everyone.
Question: "We have a say in what type of Brexit we have, don't we?"
Answer: "to be blunt, in a democracy, the answer should be no."
Temujiin, I thought that would be your answer and although it's predictable it's also disappointing. You obviously don't know how our democracy works or perhaps you would like it to function in a way that would suit your agenda better. I think your version would be closer to a dictatorship.
You believe that anyone who voted to remain should be disenfranchised from the Brexit process.....unfortunately for you that isn't how parliament works. The UK voted to leave the EU....that will happen.....but that's as far as the referendum vote goes. Brexit means Brexit.....but it also meant an undefined Brexit. Everyone (well actually MP's) is involved in shaping the Brexit we take. Brexit cannot be controlled by a cadre of Brexiteers who have their own vision of Brexit.....a Brexit 'at any cost' where
the economy can go to hell in a handcart.
I think you are afraid that Parliament will start to take control of Brexit once it becomes clear that the cabinet is making a mess of things.....which based on the customs options under discussion looks to be the case. The problem for 'Leavers' is that the commons majority could well be for a soft Brexit (or a softer Brexit than you would like). I can understand why you are worried but that doesn't mean that the democratic process can be usurped. All the threats about 'blood on the streets' if Brexit isn't hard enough is poppycock and again a sign that some people don't understand what our democracy means.
I also find it slightly ironic that you (amongst others) are using the argument that 'everyone' knew that Brexit would be costly because of all the dire predictions that came from the 'Remain' camp.....which were described as 'Project Fear' and were classed as scare mongering. But now you are almost suggesting that there was perhaps some truth in 'Project Fear'.....'Leave' voters must be confused. First they were told to expect back £350m per week as a Brexit bonus for the NHS, now you are saying that people should obviously have listened to 'Project Fear' because it was obvious that Brexit wasn't going to be a bed of roses, despite being told continuously that all the negative talk was scare mongering.
The sooner the House of Commons takes control of this mess the better. It can only be a matter of weeks before the wheels fall off the government customs arrangements.....perhaps then they can start talking sense and some back from their holiday to 'Fantasy Island'.
Let's hope so. I hope we don't have cause to regret them not running the deal past the govt anyway despite the legal advice.
Suntrust's motive is a puzzle. The original article that kicked this off referred to monies they claim they are owed. Are they now trying to get the deal revoked?
In reply to DW's original question, 1kg of hydrogen can produce 39.4kWh of energy. Assuming 80% efficiency in the fuel cell, we would get around 32kWh of electricity. If that kg of hydrogen could be produced for 2 Euros, that would be around 6 Euro cents, or 7 USD cents per kWh. Adding the 5 to 10 cents for running the fuel cells, that sounds fairly competitive to me.
"San Leon Energy plc, the AIM listed company, focused on oil and gas development and appraisal in Africa and Europe, has been provided with a copy of correspondence between SunTrust Oil ("SunTrust") and the Nigerian Department of Petroleum Resources ("DPR")."
" The correspondence relates to a requirement under Nigerian law for the Minister of Petroleum Resources to consent to any assignment of interests in oil and gas assets in Nigeria and the fact that such consent was not obtained prior to the purchase by the Company of its indirect interest in OML 18. "
"San Leon obtained legal advice prior to the purchase which confirmed that, owing to the way that the transaction was structured (and specifically the nature of its indirect interest in OML 18), it was not necessary for Eroton to obtain prior consent from the Minister."
I think it is the beginning of the auction.
All the cies operating in Kurdistan want to take part in the restructuring of the kurdish oil industry and there is only one valuable asset to sell: Shaikan. The DNO, Genel, Lundin all want in together with the majors.
They dont need the 2nd amendment and an upgrade of the reserves. This will be done behind closed doors.
More than a fifth of investors either voted against remuneration report or abstained
Lloyds Banking Group suffered a shareholder rebellion at its annual meeting on Thursday, after an influential advisory group complained about the chief executives high pay and a lack of transparency around the banks bonus scheme.
More than a fifth of shareholders either voted against the lenders pay report or abstained not enough to stop the report being approved, but still marking the largest shareholder revolt against a British bank so far this year.
Institutional Shareholder Services, the worlds largest proxy adviser, told shareholders to vote against the report, citing an unduly complex bonus framework and concerns about the alignment of pay and relative performance.
António Horta-Osório, Lloyds chief executive, was paid a total of £6.2m in 2017, an 11 per cent pay rise on the previous year, and receives a benefits package worth 12.5 per cent of his salary. That package includes a car allowance.
ISS estimated that Mr Horta-Osório was paid 95 times more than the average employee at the bank, and added that the benefits paid to Lloyds directors were very generous compared to other listed UK companies.
The raise in salary for Mr Horta-Osório came as Lloyds finally completed its return to the private sector after being bailed out by the taxpayer after the financial crisis.
The completion of the privatisation led to speculation that Mr Horta-Osório would soon leave the bank, but he has since said he intends to help carry out a new three-year plan.
Glass Lewis, a rival proxy adviser, backed the pay at Lloyds and recommended shareholder support.
Lloyds said it had already made significant enhancements to levels of disclosure about its pay policies in recent years and said it welcomed the broad shareholder support for its remuneration report.
However, it also acknowledged that a significant number had voted against it, saying: Going forward, we will engage further with all shareholders and proxy advisers to discuss the groups approach to remuneration with a view to further simplifying and enhancing our disclosure.
The bank also came under fire from TV presenter Noel Edmonds, who is seeking compensation from Lloyds over an alleged fraud carried out by former HBOS employees. Lloyds acquired HBOS in 2009.
Thursdays vote was the latest in a series of recent protests over pay at large groups such as Royal Dutch Shell, AstraZeneca and Unilever.
There has been particular anger directed at high pay for bosses at companies that have benefited from taxpayer money.
Earlier this year Persimmon, the UKs second biggest housebuilder, was forced to cut bonuses for its top executives, as was UK outsourcer Serco.
While Persimmon has been criticised for paying bonuses while benefiting from the governments Help to Buy equity loan scheme, the revolt at Serco reflected concerns about pay levels at companies providing public services.
Last month ISS encouraged investors to vote against the pay report at FTSE 250 group Metro Bank. Another adviser, Glass Lewis, criticised its chairman, but the bank weathered the criticism without losing the support of shareholders.
Very well attended AGM. Got to ask all the questions we wanted and Directors answered all questions during meeting and after in foyer.
1. Magnus very profitable and recent new well excellent.. 3rd longest in NS.. Historically previously drilled but didn't reach target// Enquest have done it for a third of the cost and results are excellent. Onto the next one.. This is a major asset.
2. Cash and cash equivalents looks weaker compared to year end.. but the company is very profitable at this time.. Current hedging was 2/3rd 1H 2018 and 1/3rd 2H 2018 on those hedged.. about 7.5m barrels.. balance is on the open market.. Discounts range from $4 to $6 depending on timeframe of customer.. You basically can say as a rule of thumb, every tanker that leaves Kraken is worth $30m . Cashflow looks weaker now due to timing of payments..eg: interest/suppliers invoices, but the cashflow is much better now. Wouldn't give current net debt position or movement in net total assets from 1 Jan to 30 April to ascertain increase in shareholder wealth creation..
3. Receipts from Kraken are about 30 days from loading.. 15 days from pipeline SV. Kraken is still being tested, so the timeframe between loads varies.. Those that watch tankers and see a few days over the last one should not be concerned.. Some will be quicker than others. Expect 50K/day, but no more.. to protect the wells/equipment. Kraken farmout process started earlier in year.. sort of gave the impression it was still being looked at.. if someone was interested.. Didn't think there was anyone at the moment.
4. DC4 planned for Q4 etc as per RNS.. but signoff on Kraken not dependant on this.. Signoff is close... but no date given.. but it's coming.
5. $50m debt repaid in May 18 so, Oct 18 tranche is that much less with small interest saving, but depending on receipts, it's possible to make another earlier to establish a trend the market can take note of.
6. Debt is still too high, but focus over 12 mths is to reduce it as quick as possible , then perhaps a chance in 12/18mths of restructuring it.. when it's a more comfortable level. Banks very supportive of Enquest. Resolution 18 regarding share buy backs was approved, but basically the discussion confirmed repayment of debt came first, and share buy backs unlikely over next 12 mths.
7. Decommissioning is a business they will expand into, but not a priority.. makes money , tight margin.
8. When we get the sign off Kraken RNS , don't expect the SP to jump up by that much.. The lack of institutional investors is what's creating the lull in SP.. Even though the SP was higher last year with less production and lower Oil prices.. the SP isn't higher now, because II''s especially in Norway and others have sold out..
Definitely sentiment seemed positive.. market cap of about £500m seemed like a good place they wanted to be at.. hard for them to be more bullish.
Thanks to those who I met there, and Enquest etc. Seems like we need to get past the Oct debt repayment and attract more larger II's who can see the cashflow in 2019 and beyond. Target 50p., imv.
CAML and JLP are stocks Ive dabbled. Made a profit on CAML and broke even in jlp and moved on
Waiting for FFR to bloom and QFI to bounce back. I dont have much capital to invest on a regular basis so what I do is take profits from one and invest in a new stock. Sadly I did this on here when I had 80k shares when I should have stuck. Whatever lol
I didn't read it fully and thanks for highlighting this, and I feel a little more positive but understand anything could happen -tbh I wish the delisting doesn't go ahead as shareholders will have even less say . I will he voting against it and might good to drum up more support.
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