sorry Onion missed a button you are correct, not 1/100th its 1/1000th of the value as you say ,they are nothing but crooks with no management skill what so ever, happy to waste shareholders money on themselves.
1/100th correct,the sheriff of Nothingham would have been proud of IGS, this performance, puts Robin to shame, who in their right mind could fund this plonker moving forward ,maybe the unwarery who haven't heard of Ian the muppet....
Two years ago, this share was 10p. Then it dropped to 1p, and then there was the 10:1 rollback, and soon after the new shares had dropped again to 1p. Then along comes this proposal, which would drop the new shares to 0.1p. So the shares are worth 1/1000 'th of their value 2 years ago. A proud record indeed for IGRS. I guess he might now drop in a half mill at 0.1p to end up with 50% of the ongoing company, with all other existing shareholders effectively diluted right out.
guys,in this scenario there is nothing for the shareholders the BOD and IGS have overseen to this but by the smell of it there is still plenty of upside for them, I would go as far as calling them deserters, you know what the punishment was for deserters in the old days but nowadays its the shareholders tough luck for believing the bull****.nothing left here now not even for a chip butty. we need to actually be informed what they plan to do with the investment company and the subsidiaries, some tax losses in there that will have some value.
880k barrels 1c with potential 3
even with a minimum of 880k barrels at a low price $60 equates to $52.800000 = £35.2 million the total value that could be achieved for the PUKA field not forgetting the Shannon Prospect which they believe has a high chance of 20%.. so it seems like they have sold all the info including 3d 2d seismic + Infrastructure everything for .2 of the total value of the company in a fire sale.. why was it a fire sale in the first place? I would ask everyone to reject this proposal as it does not give any value to us shareholders at all. Why are we being sold so cheaply is the question. I know we are tight..get rid of all your directors and fully rent the west minister office... work from home.. worst case I will approve the sale but no further funding or anything for the directors to continue the business.. we will not get any value back no where near what we could have got... we should have retained a small amount of stake in the PUKA license even 10% would have done us fine. but nothing for nothing ain't gonna work.. IRGS if your reading this.. you need to do better than this?/
MEO own 30% of that license.. so KEA have sold the remaining interest for £222,550 having spent 20 million this is completed Bull**** deal.,, next to nothing!!.. I'm sure the 800k barrels are worth more in the ground and the potential 20% chance of success is worth a lot to a company.. what about all the up front costs to KEA that were encountered.. one of the worse deals out there.. I am not approving any of the deals.. and then wants to raise another 1 million as an investment vehicle.. it's like they were writing a large RNS to contain all the bull**** in there head.. complete farce.. not getting any off my support anymore.. let it go... but I will research on this 'Caliera Fund Limited' too see if is anyway linked to these scumbags.. so if they drill Shannon and hit we all lose out.. as we have no interest we do not even get any royalty at all.. that's how i'm reading the RNS unless i've missed something obvious!!.. MEO benefit is well.. if that company hits they will get 30% of the revenue is well.. we shareholders are left with nothing.. there is no shareholder value here.. everything happens at a snails pace here.. my 97% is better off nothing having anything rather than approving the EGM and they use money to invest in other sectors and take wages and leave us with nothing.. even if they do we will not get anywhere near the value that has been lost.. so not worth it.. about financing well they said they could not do it under a penny they are now saying we are overvalued and cannot do it at 1p.. is this a joke!!.. i've seen many companies raising capital at less than 1p like SOLO and SER.. how come we have not done this.. even if that meant having more than 1 billion shares don't care.. this is the worse deal for 222k.. IRGS shove it up your arse!!
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