Nice to see Adonis loading up on the back of no news and, I now presume, nothing imminent. It would be a foolhardy thing to do if his insider knowledge suggested the SP might slide. If he is topping up, I will follow suit.
Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company, today announces that on 13 October 2014 Westward Investments Limited, a company which is owned by a discretionary trust of which Adonis Pouroulis, a Non-Executive Director, is one of a number of beneficiaries, purchased 1,029,096 ordinary shares of 1p each in the Company ("Ordinary Shares") at a price of 10.5 pence per Ordinary Share.
Following the purchase, Westward Investments Limited owns 28,454,671 Ordinary Shares representing 10.85% of the issued share capital of the Company. Adonis Pouroulis also owns 100,000 Ordinary Shares representing 0.04% of the issued share capital of the Company. In aggregate, Adonis Pouroulis is therefore interested in 28,554,671 Ordinary Shares representing 10.89% of the issued share capital of the Company.
We know for sure 7% of the new PI's and analysis of the share register means we can guess at a large chunk of the rest- Citigroup etc we also know Paul Welch still has a large chunk as does James burgess (2.25m shares) he was the old CEO prior to Pail Welch ..
Thankyou. I readily confess I know didley squat about oil and gas, but looking at Chariots 'Significant Shareholders:' Barclays, Hargreaves Lansdown, Standard Life, Halifax and Meridian, I'm assuming their 'due diligence' exceeds any amount of research I could ever do. I imagine each company keeps a special spanking paddle for staff who invest in ultimately unsuccessful companies, so their risk-aversion is going to be high. If it's a good enough investment for them, it's good enough for me. I also don't have to pay them a management fee or an advisor's fee for the privilege of giving them my money by investing it directly myself.
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