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Quite a lot of doom and gloom on the other BB about the company's prospects now. I can only remind folk that the crrent board said they would put the company into admin at end Oct last year. They didn't. They then said it would be insolvent by the end Oct last year. It wasn't. Then that Allenby would resign such that the comany would be delisted before the EGM. It won't be. That the new directors would be unsuitable. Allenby conspicuously did not resign for that reason. And now that any financing proposal will fall through if they are voted out. Well, we'll have to wait and see.
Honestly, given Kononov's voting power, I can't see how the Board ever thought they could win this one. Trashing the share price felt deliberate, to punish Kononov. And they seemed genuinely surprised when the EGM was requisitioned.
We're in Kononov's hands. But we have been for years. I personally don't think he will want to delist. There may be an early placing though. That would be a carrot for prospective new nomads.
Yes, new Board, new nomad, new strategy, financing secured, suspension lifted. A week tomorrow.
And in the meantime, the current board can't bomb the share price any lower, so this is the base for the rerate.
It wouldn't suprise me if money doesnt miraculously reappear in one way or another. I dont think this takeover of management would be if all wasnt carefully planned. I think they have a nomad and finance in place already for a flying start.
It is interesting that Allenby did not resign because the proposed directors are unsuitable. If anything it looks like a bit of a cooked up pretext for them to go.
As for the rest of it, looks like the Biard have been deliberately running the Company down. Production down, not bothering with workovers, South Dagi left hanging. Disgraceful really. Whatever Kon has done wrong at least he was actively, and successfully, securing control of the Port.
It does look though like the Company has over-reached itself. If it can't come up with a good plan to get on a secure footing for sustainable growth, i really think Arcticneft should be sold, freeing up resource to concentrate on Sakhalin. It's next door to Japan for gods sake, it should be a gold mine.
I think the EGM will be called off and they will resign beforehamd, his is their last tantrum.
There we have it. My broker was right and a new NOMAD was proposed by Mr K then. I just can't see any more the current BOD can do to save their job, let along any grace !! Expect the Pitch from Mr K shortly before EMG fir sure I think.. GLA
Interesting DrWho. I haven't had any info from my broker, Barclays, who don't have a corporate action listed even now. I've bought some more since I gave my instruction to vote in favour of the resolutions. Have to chase them up tomorrow.
It would make sense for a new board to get a new nomad. Allenby have been a bit derelict in allowing the RNSs threatening administration and then insolvency by the end of October last year, and then that they might resign such that the shares would be delisted before the EGM. But and having said that I wouldn't want them to think they have nothing to lose in resigning immediately upon all resolutions being passed. We've had enough unpleasantness around this sorry debacle, and I for one would just like to see things get back on an even keel.
I asked my broker to cast my vote of "in support of ALL resolutions proposed by the Requisitioner, Adler Impex S.A. " yesterday. My broker's mentioned about " suitability of new BOD', as well as a New NOMAD. Was wondering if any of you have same info? If a new NOMAD was proposed by Mr K, it seemed Mr K is well prepared for any trick the current BOD may play and determined to use a New NOMAD for the final knock-out at EGM, which makes a lot of sense ....GLA
Sorry you are right. Before consolidation he held that, so yes 127k is about right.
Urraca, post consolidation Shrager held 2.54million shares!
Post consolidation, Shrager had around 127k shares. He's gonna need to hold some back so he can do a big dump a week Friday when he gets the boot, and has one final go at crashing the sp. childish petulance, like we've seen in the RNSs making threats that he couldn't follow through on.
Current director probably selling up.:)
Yrs, 20k sells in the space of a minute.
And someone is determined to sell into any rise
Someone's buying. Could be the prospective board are about to say something. Although if they've already got it in the bag, they don't really need to. Would be reassuring though.
Correction, bid now gone to 32p.
Interesting that the bid hasn't changed at all since at least last Friday even though the offer has risen substantially.
I dont know what to read into that.
Going to need another apocalyptic RNS from the desperate Board then. I think they've got one or two more in them. Nothing new though, so diminishing returns, seeing as how the company didn't go into administration or insolvency, and Allenby didn't resign in time for delisting before the EGM. All of which they have threatened, and which have not come to pass.
Still can’t buy but can sell all
I bought a handful at 8.04. Couldn't get any big volume though, without going NT, which I'm always wary of.
tried to buy a small amount and being quoted 0.365
Anyone going? I did check flights, but I'd have to fly on the Thursday and I've got domestic commitments. Be interesting though.
Less than 700 shares sold, far fewer than buys today, and the price gets marked down over 3%. So tempting, lol.
We were valued at a quid a share, before the south dagi drill. The value destruction the current board have caused is shocking. And what the hell is happening at South Dagi? They said they'd hit 9 zones. When are they going to test the damn hole?