Updates

Salamander

August 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Salamander has announced that it is raising US$200m before expenses in a placing and open offer of new shares at 300p. This will be used to accelerate the development of some of its oil & gas fields but more particularly to expand its ongoing exploration program and further broaden its portfolio. Qualifying shareholders are entitled to take up 0.1512 new shares for every existing one, while the offer is being fully underwritten by Goldman Sachs and Oriel Securities. Soon afterwards, it was announced that 3i quoted Private Equity Ltd will invest up to Â£65.5m in the placing, for a stake of up to 14%. This fund raising follows the recent upgrade to Salamander's reserves plus a broadly upbeat AGM statement, which forecast that it ...

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Salamander (October 2008)

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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