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The company is valued at just over 1.3 million pounds at the moment so if Larry Goodman paid 13 million pounds for Lansdowne that would value the shares at one pence each. A relatively small investment from Larry Goodman would really increase the share price by multiples from its current price.
I think somewhere between 5 -10P would be more realistic. Would LG really offer as much as LOGP could get under ECT? Maybe LOGP will be asking for more than $100m. Can anyone see him offering less than 5P per share? Any views?
I'd be happy with 15p!
Just wishful thinking, but should LG want the whole caboodle, and the direct right to sue the government under the ECT, surely buying LOGP, and leaving them a net profit interest would be a neat solution. He would have LOGP’s losses as well, as an offset. BEY should really have been left with 18% rather than 5% to align them more proportionally to San Leon. It’s a ghastly irony they are left with only half a percent more.
Just for fun, what should he buy LOGP for? I would suggest 15-20p plus npi of 1.25% would be fair
No doubt LG would like to be sole owner of Barryroe. My question is whether tax considerations make it more attractive for him to become sole owner?
Boldy is probably waiting for LG to declare his intentions before the end of this month.
If LG comes knocking on his door, Boldy wants to be at no disadvantage. Hence the changes to be passed on 29th of this month. Good to know from Swizz
that shareholders are presenting a united front.
On founding the farmers alliance back in the spring the following comment was made:
"McLaughlin said that it is too early to say if the Farmers’ Alliance will run candidates in the next elections but the idea is not being discounted at this stage."
With an election due in the next twelve to fifteen months the possibility is that a proper farmer alliance party with potentially twenty members plus Sinn Fein would easily form a majority.
At that point Varadkar, Martin and Ryan will be for the birds and with a proper Farmer's Alliance seeing the benefit of Barryroe it will definitely be developed. The only issue is that Goodman now holds all the cards for Barryroe with the exception of the 20% Lansdowne owns and the 4.5% nett interest that San Leon owns.
So Larry and the farmers who are his bread and beef will be the beneficiaries except what we can get from Lansdowne.
We have all be scr*wed by Larry. Perhaps he will do the good think and revise the miserable 5% he promised us in his takeover.
It will never happen but I would love the o&g companies to just stop supplying for a while and let them all walk to their next climate knees up.
A spade’s a spade and Ryan’s insanity is insanity - on crusade business-class round the world. Never mind no steel, Varadkar and Martin have no balls at all to let this happen on their watch.
Https://twitter.com/FarmAlliance1/status/1733132316015260125?t=kmgyS0r1YIZN1w-pMOZB3g&s=19
No problem Flashgarden. This is a high pressure share to be in. I haven't worked out the increase in the number of shares myself but I would say you are right. I suppose the good news that is been overlooked a bit is that the company reaffirmed yesterday that they are going to sue the Irish government and they are putting together the legal action that will be announced in due course and that is the reason for the fundraiser and expansion in the number of shares, so the 12% increase in share capital should be easily offset for shareholders once the details of the legal action are announced.
Apologies for yesterday guys - bad day.
Only bit of rns I have an issue with now is the figure of 8%
if after the firm placing we are at 1233m ( 40/1233 = approx 3%) then surely an additional 160m conditional shares takes us to 1393m.
160m new shares will be approx 11.5%
Thank you very much Swizz. You are a Gentleman. Regards
Spud, it is an official date, it is within the scheme of arrangement document that was submitted to the high court and approved by the high court, as part of the confirmation hearing process, I have copied and pasted the two pertinent points from the SOA for you below,..GL S
Plus, the effective date was November 8th and I understand from someone close to the situation, they are a few days behind schedule.
4.16 The Investor will allocate to the Other Shareholders 5% of any net after-tax profits realised by the Company from the Barryroe field either through its sale or operation at any time in the 10 year period after the Effective Date (“the Proposal”).
4.17 For the avoidance of doubt, the Other Shareholders shall not be required to commit additional funds to participate in the Proposal. The documentation giving effect the Proposal will be prepared and distributed to Other Shareholders within 30 working days of the Effective Date.
One Question Swizz. I have seen a 30 day period mentioned for the SOA for Barryroe Energey. Cannot find it mentioned anywhere in any document. Is this an offical date or one that can be moved and will be delayed as per the minor procedural delays. Just wondering when we might expect to see some news - rough idea !!!
Thanks very much Swizz. It seems that at least there is fair play and general respect for the smaller shareholders here. BOE/Providence was a nightmare. Will be interesting to see the forthcoming news. Take care
Do not see any dillution apart from the new shares that will be issued
Total Voting Rights
Following admission of the Firm Placing Shares, the Company will have in issue 1,233,618,337 ordinary shares of 0.1 pence each. No ordinary shares are held in treasury. Therefore, the total number of voting rights in the Company will be 1,233,618,337.
No ordinary shares are held in treasury. Therefore, the total number of voting rights in the Company will be 1,233,618,337.
The above total current voting rights number is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
Another LG-style mugging? I think Swizz has got this right. Maybe you are praying he has got it right! LG’s moves in the business world are enough to make a lot of people paranoid but LOGP has to plan for all eventualities and not be caught out unable to raise cash, with LG hovering in the background ready to hoover up any further tasty morsels that become easy prey.
So in a glass half empty perspective my opinion is that my holding is being devalued by 90%
My opinion is that the defferred shares are going to get wiped at some point.
Spud, I would suggest Lansdowne are being very strategic with the content of their comm's, not having a meeting is not an indicator, that discussions are progressing, plus it is vitally important that the litigation/compensation pathway remains very robust,
Today's comm's are predominantly dominated by wording and process to satisfy the Nomad and Aim regulations, due to the capital reorganisation, I also understand that there are some minor procedural delays with BOE and I am sure we will gain a much greater understanding of the future plan, when all of the key aspects of the SOA are squared away,
The positive from today, is that without exception all of the key stakeholders of Lansdowne are unified and supportive, myself included, I would also add, that the Irish Times article posted below is digested by anyone with any interest in the project, ..GL S
I know it says the conditional shares represent 8% but is that the case?
At present c1.2b shares at c0.1p
on 12th dec c1.24b shares at c0.1p
On 29th dec this becomes c1.24b shares at 0.01p and the deferred shares can be wiped out so are essentially worthless.
So does that not really equate to 124m shares at 0.1p
Hello Mamms. Agree with you. Let us hope that things will speed up once Vevan issue there new plan for Barryroe Energy. Perhaps that has been delaying things. It is the only reason I can see for not having instigated procedings to date.
FFS. Why are expenses so high? They are issuing 200m new shares every 6 months (plus warrants etc), how long will that continue? We had 1bn shares in issues, then 1.2bn soon to be 1.4bn (has anyone any idea what the level of warrants that will be converted are if there was ever a settlement?). Seems to me that Boldy and co. need to either settle soon or else pass it over to a 'no foal no fee' legal firm that goes after compensation.
So it appears that nobody from the Decc or the Government has shown any willingness to discuss anything. This should provide more ammo for a legal case. What is yoyr opinion Swizz ?. What are you exoecting regarding Vevan and any potential dealings with Logp ?
Dividing each share into two is just a way of raising new capital if needed as they are technically unable to raise anymore capital using the existing share capital
The Directors of the Company independent from the LC Loan Agreement Extension and Warrant Amendments, being the full Board, consider, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, that the proposed terms of the LC Loan Agreement Extension and Warrant Amendments are fair and reasonable insofar as the Company's Shareholders are concerned.