> http://www.investegate.co.uk/Article.aspx?id=200804020701443743R
http://www.imperialenergy.com
http://www.investegate.co.uk/Article.aspx?id=200807040700042799Y




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img src="http://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=IEC&Size=700&Skin=BlackBlue&Type=2&Scale=0&Span=YEAR1&MA=&EMA=&OVER=&IND=&XCycle=&XFormat=&Layout=2Line;Default;Price;HisDate&SV=0">
cyril

OFFER DOC POSTED TODAY.... BUT HOW MUCH?????

Offer docs are out, but not been able to access a copy yet.
Offer runs until 30th Dec '08. Share price has now picked up which I assume means that the offer is above the current price.

cynic is one unhappy bunny as bit the bullet at 806 s deal looked dead, but bought back some again at an average of 925 ...... hey ho!

How much ?

12.50 according to Bloomberg, no further confirmation though.

http://www.bloomberg.com/apps/news?pid=20601080&sid=ae_np1QsMnW4&refer=asia

I can't see any shareholders not accepting the 12.50 offer, yet the sp is still hovering!

why are people still selling?

Maybe they were short?

short and selling?????? ....... i don't think so - lol!
this stock is still a bit of a gamble, though slightly less so now, as 90% acceptance is required by 30th december or ONGC can walk away

Just testing to see if anyone is awake Cynic, which you obviously are! I had expected a barrage of protests but maybe there are not that many investors messing with this share which might more explain the apparent apathy. Sure, it is still a bit risky but at best I don't think IEC is worth more than 11 per share in the present climate, so why would holders walk away from the deal? 90% acceptance IS a high percentage though.

As for short selling, well, I'm glad I didn't! ;o)

I'll now finish the sentence "Maybe they were short?"....of balls! We've needed 'em over the last couple of days! Well done for buying back Cynic.

only well done if i remember to cash in a profit .... if not, i'm just a total greedy dickhead!

i am travelling so would be useful if someone else could check major shareholdings and report back

Cynic, I'm working on that, I know that the percentage holders used to be:-

Baillie Gifford 11.86
Schroders - 9.05
Deutsche Bank 6.84
Peter Levine (CEO) 6.13
Legal & General 4.65
London & Amsterdam 3.46
Directors of IEC 3.16
Sloane Robinson 2.78
HBOS 2.59
Blackrock 2.39

but at the moment I don't know the latest figures. They probably all need the cash however!

offer doc now available for download pdf from imperial energy site. 12.50 cash !!!

at least i have recouped a slab of my losses, as could not afford to buy back all ..... may buy a few more tomorrow

Don't forget that 90% acceptance may not happen, so maybe worth considering cashing in before 30th Dec, depending on the sp.

all sorts of possibilities ..... even selling at say 1125/1150 and hoping to buy back cheaper

this morning's tumble is surely just a reflection that Rosneft are strapped for cash and therefore are unable or unwilling to buy a stake in IEC.

however, i would ask if that really matters at all as surely ONGC are tied in to the deal provided that 90% of the current holders accept the deal ..... of course, if ONGC hold >10% themselves, then they could scupper the deal on their own, though whether that would be permitted is a moot point.

there is also a report that they may just go for 51% of the company see below

i think is gonna be jitters given all the chat, but hopefully IEC will get on the phones this week and drum up the 90%......


ONGC Videsh (OVL), a wholly owned subsidiary of the Oil and Natural Gas Corporation (ONGC), is likely to pick up only 51% stake in Imperial Energy, if Imperial`s shareholders do not offer a minimum of 90% stake by December 30. Shares of ONGC closed down Rs 18.5, or 2.78%, at Rs 646**.

i would have thought that holders would be hammering on the doors to deliver their acceptances!