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Update 8th February
https://icsid.worldbank.org/cases/case-database/case-detail?CaseNo=ARB/22/21
DYOR
Can someone give me a very simple guide to vote? I am not a clued up shareholder and bought these shares a long time ago and have hardly followed them. No negative comments please! Many thanks
Wrong Bobby. That is why it pays to read the fine print! Ex entitlement was set after the close of market so Monday is the day.
1800 hours
Just a reminder that the ex-date is today Friday 16th February.
Meaning that one can sell their ordinary AST.L shares and still get the non tradeable dividend preference shares.
The ones who buy today will get only the ordinary AST.L with no dividend share attached. To get them the only option is go back in time and buy yesterday as they are not going to be tradeable.
(because trades are actually T+2 etc)
If a ship is in dry dock do you need a Captain or two? Do you need a chief engineer ? Do you need a purser ? do you need any officers ? may be one!....So is this company is a nonsense in every way......?
What absolute baloney!!! Hence the question then why does this company need to award such ridiculous salaries to a top heavy BOD!!!???
Will this nightmare ever end!!!
To those that love to gripe there is no promised battery metals strategy etc, you are missing the point. This is a special situation investment that revolves around the ECT case. The rest is just noise, so buckle up and enjoy the ride. Much better returns on offer here than punting a mining project.
And yes when you have your asset expropriated by a sovereign government, your stock price goes to zero as mining investors bail out and slowly the special situation investors move in…
No credit at all to this current shower of a BOD! They've been waffling on for the last 2 years about a strategy in Cuba which despite being a key strategy has produced absolutely nothing!!
Let's hope the lawyers release long term holders from this nightmare as Mr Parsons & Mr Dennan have taken more than ÂŁ500000 combined in salary!!
Never ever would I touch any company associated with these 2!!!!
@ 19:58 thats patently not true.
At the time of the initial planning an EIA was not required for the fracking AST intended carrying out and was subsequently required when planning law was changed by ministers in the Slovenian government when they banned ALL fracking.
Clearly ASTs planning was in before these law changes. Its pretty obvious their intention was to delay AST for this reason and to subsequently subject AST to these 'new laws' is what this whole case in based on plus the behaviour of Slovenian Politicians leaking market sensetive information to the press against AST.
Whichever way you look at it somone didnt want AST making a success of this gas field whether this was xenophobic, environmental or russian reasons is yet to be determined.
Ascent is done in Slovenia, done in Cuba, done in South America, basically just done.
To win the law suit they will have to prove that Slovenia refused to give them a permit to frac the PG wells, which is not the case. Slovenia just requested an EIA be done and submitted with the application. Ascent decided not to do that and therefore Slovenia could not issue a frac permit.
I have trouble seeing where Slovenia is responsible for Ascent's decisions.
In the meantime what is this company up to. Why does it have a couple of well paid executives and a rather large board for what really is dormant company
Just saying that it might be plenty of reasons to sell but not getting paid if they win is not one of them. ICSID is no joke. Is signed by 163 countries. If they refuse to pay, Slovenian assets in any of those countries can and will get seized.
Ok Bobby…only time will tell! 🤔
[link removed] just google search "Air Tanzania plane seized in the Netherlands" for a recent example
@Kashdog case is against the Republic of Slovenia under ICSID (International Centre for Settlement of Investment Disputes). If they lose they will have to pay. They have no alternative. What happens when they refuse to pay is they get their assets seized, i.e.: [LINK REMOVED]
Bobby, please tell us who is going to pay that 750-800 mil
@BillyBob99 the award if won, is up to €656.5M, plus interests, plus litigation costs = probably around 750-800M gross.
51% of net proceedings is reinvested in the company and goes to the ordinary AST.L shares; and 49% of the award distributed as a dividend in the new preference shares (this new dividend preference shares will be given to the ones that are holding ordinary AST.L stock on Monday 19th February 2024 at 6pm, -as in if you hold 1 regular share on that date you will receive 1 preference share on top-)
@oldblue1973 I was talking about the trial against Slovenia. If they get awarded full claim they get 650m cash as what they are asking is for compensation for damages.
Err dont know if any off you noticed this but...
https://www.lse.co.uk/rns/AST/upgrade-in-estimate-of-revenue-recognition-1fg0s83j82pnd6h.html
On 25 October 2023, the Company announced receipt of a positive Arbitration Tribunal binding interim decision, confirming Ascent Slovenia Limited (ASL)'s entitlement to proceeds above the baseline production profile from all wells in the concession area (except for PG-1 which is entirely included as part of the baseline production).
err theres a tool stuck down the well...still...max production last time i checked was 1-1.5 million per year
so the DAMAGES will be calculated in regards to the flow rate THAT can be obtained
if it is awarded....
so ill doubt it will get near the 50 million spent
maybe 25-30 max 50 % 10-15 million? maybe a 4-5 bagger but could be years to wait
How much do shareholders get? How is it worked out?
Bobby, should it work out along those lines, as you suggest and I don,t doubt your working knowledge, the total asset value that the claimant could seize would not include any cash as the defendant is in receivership. This leaves the “gas field” which we know is a poor producer without the option of fracking / stimulation. It would not be considered as a value asset by any Operator in the region and would therefore be difficult to unload for anything other than a bargain basement price. Any cash raised would have to be split between all the recognised creditors. I am sure that when and if that happens, Geoenergo will ensure that the asset is not liquidated as a going concern.
I do worry just a smidgeon that the article link is promoted by a marketing agency and AST do seem awfully keen for shareholders to take advantage! (A bit like Sound Energy!!). As per share price recovering, another big investor and promoter Align Research still seem to think share price should be in region of 20p so make of that what you will??
I wonder why James Parsons hasn't been recruited by a FTSE company given his impeccable record??. Lets just see what materialises...I'm a long term investor so really have nothing to lose!!!
Slovenian government does not need to underwrite anything. That's the beauty of ICSID disputes, they are not appealable and claimant can and will just seize defendant assets if not paid on time (and Slovenian government cannot declare itself bankrupt so...)
Also noticed that warrants are at 5cents so they can be ignored for award distribution purposes (if SP doesn't go to 5 cents before 19th February) making it a lottery ticket of 10000% potential
“Record Date for eligibility for potential proceeds from the claim against the Republic”
It’s a blag!…pathetic attempt to inflate the SP.
AST think they can fool the market by maximising the word “potential” when there is the reality that the Slovenian government are not going to underwrite any compensation!… they know it… you know it… we all know it… dry your eyes and move on!