Diversified Energy Company PLC (DEC)

[idpickering]

General Meeting Notice & Publication of Circular.

Diversified Energy Company PLC (LSE: DEC) announces that it intends to seek an additional listing of the Company's Ordinary Shares on the New York Stock Exchange (the "NYSE") (the "US Listing"). No new Ordinary Shares are being offered or sold in connection with the US Listing, and there will be no change in the total issued share capital of the Company following the US Listing.

Following its announcement on 5 October 2023 that the Company was no longer pursuing its previously communicated desire to list its Ordinary Shares in the US given the equity market dynamics, the Board and management consulted with their advisors, along with various US and UK institutional investors on alternative paths forward without the need of a structure incorporating a capital raise to achieve a US listing. After careful consideration of the feedback received, the Company has decided to pursue a direct listing of its Ordinary Shares on the NYSE. The direct listing achieves the Company's previously stated goal of a dual listing, without offering or selling any new Ordinary Shares. The Board and management believe they have chosen an approach that both supports existing shareholders and provides US investors the opportunity to more easily access an investment in the Company's Ordinary Shares.

https://www.investegate.co.uk/announcem ... ar/7884454

Ian.

[Padders72]

Looks like there is a consolidation event on the way for these. I guess they think it’s fall into penny share territory is undesirable (which it is) but I’d suggest a way of raising the value rather than just the price figure would be better for all concerned.

[88V8]

Looks like there is a consolidation event on the way for these. I guess they think it’s fall into penny share territory is undesirable (which it is) but I’d suggest a way of raising the value rather than just the price figure would be better for all concerned.

Consolidation likely prompted by the prospect of a US listing with penny cents.

Yes, the SP, it is indeed a pity that the market is so irrational

V8 (large holding)

[Padders72]

If anyone who holds these with ii would like a frisson of excitement, log in and you will see that at present, they have applied the new post consolidation shareprice but not divided your holding by 20, meaning your value total will look very impressive...

[88V8]

If anyone who holds these with ii would like a frisson of excitement, log in and you will see that at present, they have applied the new post consolidation shareprice but not divided your holding by 20, meaning your value total will look very impressive...

I did wonder about selling them this morning.....

V8

[idpickering]

Share Consolidation Divided Impact.

Diversified Energy Company PLC (LSE: DEC) completed the consolidation of its ordinary shares of £0.01 each on a 20 for 1 basis, with the ordinary shares of £0.20 each being admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities, at 8 a.m. (GMT) on Tuesday, December 5th 2023.

All declared dividend amounts will be adjusted appropriately to reflect the number of ordinary shares of £0.20 each held by shareholders as of the respective record dates, with the quarterly dividend payment for the declared dividend amount per ordinary share reflecting the consolidation.

https://www.investegate.co.uk/announcem ... ct/7927002

Ian.

[idpickering]

Diversified Energy Begins Trading on NYSE.

Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) is pleased to announce that trading in its ordinary shares will commence at U.S. market open today on the New York Stock Exchange (NYSE) under the ticker symbol "DEC" as part of the Company's previously announced US listing process. The Company will retain its premium listing and will continue to trade on the main market of the London Stock Exchange (LSE). Further, it is expected that the Company will also continue to be a constituent of the FTSE 250 index in the UK. No ordinary shares are being offered or sold in connection with the US listing.

https://www.investegate.co.uk/announcem ... se/7947541

Ian.

[idpickering]

Diversified Responds to Market Reaction

Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) today is providing a response to the movement in its share price. On December 18, 2023, the Company received a request for information from four members of the minority party (52 member committee) of the United States House of Representatives Committee on Energy and Commerce regarding its well retirement and emissions information. The Company is reviewing the letter and intends to engage in a positive and open manner, as it has continuously done, by providing information regarding the Company's peer-leading environmental and operational actions that underpin its responsible asset stewardship approach.

One of the reasons cited for the information request was a 2021 media report that broadly speculated and inaccurately described numerous items, including how the Company addresses emissions and well retirement. Diversified has previously provided information on these topics and continues to transparently disclose all sustainability-related information, including emissions and well retirement, in its filings and annual sustainability reports. The Company has been awarded a Gold rating by the Oil & Gas Methane Partnership (OGMP) and Project Canary, two of the leading independent emissions monitoring programs for its measurement-driven approach across its asset footprint. The company has also dramatically reduced its reported Scope 1 emissions by more than 25% compared to 2020 and continues to deploy emissions best-in-class detection equipment and protocols, which includes completing emissions detection surveys on all its natural gas wells.

https://www.investegate.co.uk/announcem ... on/7951778

DEC are down 20% as I type.

Ian (No holding).

[idpickering]

Diversified Closes Value Enhancing Asset Sale

Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) is pleased to announce that it has closed an innovative transaction (the "Transaction") that has allowed the Company to unlock additional value from its current asset base at an attractive multiple while further enhancing liquidity and reducing leverage.

In summary, the Transaction consisted of the Company executing a sale of producing assets in Appalachia (the "Assets") to a Special Purpose Vehicle ("SPV"; DP Lion Equity Holdco LLC) in which Diversified retained a 20% minority interest and operatorship of the Assets. The Transaction generated proceeds to the Company of approximately $200 million, comprised of an Asset Backed Securitization placed at the SPV and a sale of an 80% equity interest in the SPV for approximately $30 million. Proceeds (net of transaction-related costs) were used to repay outstanding borrowings under the Company's Sustainability-Linked Loan (revolving credit facility), resulting in an approximate 12% reduction in net debt, and for general corporate purposes.

https://www.investegate.co.uk/announcem ... le/7969780

Ian (No holding).

[88V8]

Diversified Closes Value Enhancing Asset Sale....

Traded c5% of their assets for a 12% debt reduction.

Further analysis from the Oak Bloke for those that like delving into figures.

V8 (large holding)

[idpickering]

Comment on Share Price Action

Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) today notes the recent decline in its share price and confirms it is unaware of any operational or company-specific reason for this share price movement. The Company further confirms there has been no material change to its financial and operational condition.

The Company intends to issue its fourth quarter and year-end 2023 Trading Statement during the customary timeframe at the end of this month.

https://www.investegate.co.uk/announcem ... on/7990596

Ian (No holding).

[csearle]

Does this is happen often? A firm sees an unexplained share price movement and feels compelled to announce it knows not why. C.

[88V8]

Does this is happen often? A firm sees an unexplained share price movement and feels compelled to announce it knows not why. C.

Probably not. But there has been quite a spectacular decline in the SP, and DEC's lenders may be getting twitchy.

V8 (not twitchy)

[idpickering]

Diversified Responds to Share Price Movement

Diversified Energy Company PLC (LSE: DEC; NYSE: DEC) is providing an update regarding the recent movement in the Company's share price. The Company and Board of Directors are aware of the recent opportunistic report published by a short seller which repeats previously stated claims that the Company has already transparently and proactively addressed with investors and other stakeholders. This report contains numerous inaccuracies, ignores specific financial and operational results and sustainability actions, and is designed for the sole purpose of negatively impacting the Company's share price for the short seller's own benefit.

https://www.investegate.co.uk/announcem ... nt/8003260

Ian (No holding).

[Arborbridge]

Does this is happen often? A firm sees an unexplained share price movement and feels compelled to announce it knows not why. C.

Probably not. But there has been quite a spectacular decline in the SP, and DEC's lenders may be getting twitchy.

V8 (not twitchy)

I'm not twitchy because I don't own it. It does look like there's something nasty in the woodshed.

A good reason to stick with mega-stocks?

Arb.

[88V8]

Probably not. But there has been quite a spectacular decline in the SP, and DEC's lenders may be getting twitchy.

I'm not twitchy because I don't own it. It does look like there's something nasty in the woodshed.
A good reason to stick with mega-stocks?

One has to be walked very carefully through the woodshed, looking into all the nooks and crannies, to see that there's nothing to see. Most traders don't bother, just glance at the regurgitated dross put out by shorters and eco freaks, which is unfortunate for the SP but this week provides the opportunity to top up at a 30% gross yield.
If the six figures I have in here gave me sleepless nights then I agree it would be better to abstain.

V8

[idpickering]

Trading Statement and Annual Results Call Details

https://www.investegate.co.uk/announcem ... nt/8011695

Ian (No holding).

[idpickering]

Return of Capital Option for 3Q2023 Dividend

Diversified Energy Company PLC (LSE: DEC; NYSE: DEC) is pleased to announce that, following the announcement on 15 November 2023 of the interim dividend for the three-month period ended 30 September 2023 (the "Third Quarter Dividend"), the Company intends to offer shareholders with an opportunity to elect how they will receive the return of capital of approximately US$42 million, in aggregate (the "Return of Capital"). The Company will return the same amount of the previously declared Third Quarter Dividend, but shareholders will be offered the optionality as to how they receive that payment.

https://www.investegate.co.uk/announcem ... nd/8039021

Ian.

[clissold345]

I've been trying to read up about DEC. It's an interesting puzzle. Who's right, the Bulls or the Bears?

Here's a link to Snowcap's shorting report (published on 23rd Jan 2024):

https://static1.squarespace.com/static/ ... cap+vF.pdf

[idpickering]

Return of Capital to Shareholders by way of Dividend Payment or Acquisition of Shares via Tender Offer

Diversified Energy Company PLC (LSE: DEC; NYSE: DEC) announces that further to the announcement of 15 February 2024, the Company has today published a circular (the "Circular") in connection with the Return of Capital, details of which are set out below.

https://www.investegate.co.uk/announcem ... en/8054834

Ian (No holding).