In today’s briefing:
- AAG Energy (2686 HK): Adjourned Scheme Meeting Points to a Close Vote
- A Pivotal Moment In Exxon Mobil’s Quarterly Results
AAG Energy (2686 HK): Adjourned Scheme Meeting Points to a Close Vote
- The 27 April vote was adjourned as Aag Energy Holdings (2686 HK) Board was notified by “certain beneficial owners indicating that their latest voting instructions were not duly processed.”
- The meeting would not be adjourned if the YES vote was going to sail through. A delay helps the offeror as these owners will vote YES and deal fatigue sets in.
- Risk-Reward is still unfavourable at the last close. The deal break fair value range is HK$1.37-1.45 per share, with 16.0%-11.0% downside. This compares to the 13.5% upside from the offer.
A Pivotal Moment In Exxon Mobil’s Quarterly Results
- Exxon Mobil is about to report its Q1 2023 results, investors should keep their long-term view and dismiss any quarterly noise.
- Management is now becoming increasingly aggressive in its expansion efforts and should provide more information on that during the quarter.
- If you bought Exxon Mobil Corporation (NYSE:XOM) back in 2020 when I laid out my investment thesis on the company, then most likely you wouldn’t be bothered by the quarterly fluctuations of the stock.
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