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OK - they drill & your JHI shares go up in value - how do you sell them ?
Buff,
They will be drilling....wait & see
Arg will get 6% on a fully diluted basis of an unlisted entity that may never drill a single well or
ever list on a public market.
Terrible and sad outcome for loyal shareholders.
All IMHO DYOR
Happy
Market-Dealer - your reward will be JHI shares - what will you do with them ?
Just dropped in here to see why the big drop. Looks like another con job. Wouldn't invest here
They are offering 8M JHI shares for ARG. Do we know what proportion of JHI that is?
Silver,
Holding till death do us apart.
Rig will be in the falklands in 2026+....They will drill Argos Acerage and the area between rkh and Argos....ATB
its been a nightmare on bor -- rkh etc only survived because i traded it .. looks like game over
They've stuffed the private investor.
MD
Whats your take
so it doesn't sound like there's any option of a counter bid as they've already been paid some money?
The important bits:
"If the Cancellation proceeds, Shareholders who wish to buy or sell the Company's Ordinary Shares on AIM must do so prior to the Cancellation date, which is expected to be 6 June 2023 (with the last date for trading being 5 June 2023)."
And
"Shareholders should be aware that following the Cancellation there will be limited opportunities to trade in JHI Common Shares as JHI is a private company whose shares are not listed on any stock exchange. Furthermore, any transfer of JHI Common Shares will be subject to the approval of the board of directors of JHI in accordance with JHI's constitutional documents."
JHI's management has confirmed to the Board of ARL that it is their intention to complete a liquidity event concerning JHI within 5 years of Completion, however there is no guarantee that a liquidity event will take place within this period, or at all."
Basically, if JHI Associates intend to list within 5 years, which may eventually give you a way to sell your shares. But that is not certain and it'll be a very long wait.
All IMHO DYOR
Happy
what does this mean in practical terms for existing shareholders please?
Now 4 months since RNS announcing sale of FI interest. Why no update?
Why the need for constant rns price monitoring its not changed also same price in morning sayin 23 % down but come 4 o'clock it will say it's up no change in sp ????
Fair enough M-D, as to RNS no idea, except one thing I have learnt in over ten year invested in the FI oilers, is that things tend to take way longer than anyone would expect! and invariable cost 10 times what anyone would think they would.
I am still scratching my head as to where Rockhopper spent the what was it now, $320 or $380 million dollars they got from Premier Oil. Does it really need to cost that much? I have my doubts.
Any way I did buy 50K shares here a few weeks ago FWIW.
TBH, I am guessing (have no idea at all) but.
WHY NO RNS ?
Have added few more this week just in case.
ALL IMHO-DYOR
Hey M-D are you thinking that the deal may not go through with JHI? gut feel? or something more substantial.
Unless they been poked the neighbours...wait & see
Now over 3 months. RNS released re. sale of FI interests dated 15 December.
It will be, eat your heat...IMHO
I cannot believe it's still not 5p yet Garby....
Tbh, Argos should issue an RNS . ATB
Yes. My mistype.