As part of your Board of Directors efforts to continually communicate openly with shareholders the FAQ below will be regularly updated to address questions and concerns raised by shareholders as your Company pursues the transaction towards its focus as a natural resources company.
3. How did IBD determine the offer price, 18 pence/\225?
IBDはどのように売り出し価格を225 18ペンス/円決定しましたか?
The exchange ratio of 1.599 new IBD shares for every 10 shares of Lodore shares was based on a conservative analysis of the potential value of Lodore including a review of recent acquisitions of US oil and gas companies, particularly where the consideration was paid for in stock.
Despite this transaction being a purchase for consideration in kind, there is a small amount (approximately Yen 30 million) of cash that IBD may need to pay to purchase the shares of some Lodore shareholders that hold less than 1 lot (or 1,000 shares).
This cash requirement can be met from IB Daiwa's existing cash resources.
IB大和の既存の現金資源からこの現金必要条件を満たすことができます。
5. How many new shares will be issued by IBD?
いくつの新株がIBDによって発行されるでしょうか?
How will the existing shares be diluted by this?
既存のシェアはこれによってどのように希釈されるでしょうか?
Assuming that 100% of all Lodore shareholders, including all option holders, accept the offer from IBD, approximately 102 million new shares will be issued to acquire Lodore and these new shares will represent 25% of the enlarged share capital of IBD.
6. How will the possible decline in IBD's share price affect the TOB?
IBDの株価の可能な衰退はどのようにTOBに影響するでしょうか?
A possible decline in IBD's share price could affect the level of acceptances received by IBD in the general offer and, if IBD receives less than 51% of acceptances, IBD has the right not to proceed with the takeover.
Lodore is a UK listed oil and gas exploration and production company with a market capitalisation of approximately GBP 74 million (Yen 14.65 billion at GBP/Yen 198).
Lodore currently has interests in 20 identified prospects with total gross UNRISKED reserves of approximately 2.2 trillion cubic feet of gas equivalent ("tcfe").
Based on its current portfolio of high quality prospects, Lodore is on the verge of realising its strategy of becoming a substantial oil and gas exploration & production company focused on the worlds' largest and most valuable gas market.
They both have a detailed understanding of the geology and prospectivity of the Gulf of Mexico gained from operating assets in the region, both onshore and offshore.
Dr. Williams' reputation and extensive relationships provide Lodore with exclusive opportunities to participate in world class development and exploration gas assets with premier partners.
1. What kind of business areas is IBD interested in, in addition
IBDはさらに、どういうビジネス・エリアに興味を持っていますか?
to its existing businesses? 既存のビジネスに?
In addition to the existing trading businesses (such as textiles, food and real estate), IBD plans to initiate new investments in promising and/or undervalued businesses in the natural resources sector.
Energy - Oil, Gas and Coal etc. and Base Metals, such as Copper and Gold.
エネルギー--CopperやGoldなどの油、Gas、Coalなど、および基地のMetals。
2. What is the purpose for IBD to acquire Lodore's shares?
目的はIBDがLodoreのシェアを取得する、何ですか?
The new IBD management intends to enhance IBD's existing businesses with those that are fast growing, undervalued and offer good potential for significant profit.