Share your resentment but a Restructure could possibly be the only way you would be able to recoup your losses. After a Restructure SN could announce JV that would be worth multiples of the share price and with reduced volatility you would be able to capitalise on the gains. All is not lost here IF a Restructure occurs and BoD change the way they communicate with shareholders and actually start producing some tangible results. However IF after a Restructure they continue as is then I think it would be time to call it a day. MEGA news can land any day and a rerate could possibly be on the cards so I suggest you think long and hard before calling it a day here and never investing again. The decision is however yours... ATVB
DD maybe you've s bright idea, or maybe your happy with the way things are going ? FOF with the large percentage of shares held, should be able to put some pressure on the BOD to explain exactly what the are trying to achieve, with the way they are running the company into the ground. Accountability is something even this BOD will have to come clean about, if legally challenged which I think is long overdue, the longer we wait the Less chance we have of getting any info out of this company. 187tcf SN please explain, What is your agenda when stating such figures, surely sounds price sensitive or is it just to pull more buyers in, if so surely misrepresenting the situation of the companies future for who's benefit, ???
Who else would be tempted to vote for admin oblivion against getting a tiny proportion of new/ enlarged equity if it meant we wiped out SNs and boards investment? Dilution to 10% would leave me with bugger all so i would prefer to shaft them too. Appreciate others have more to lose and i shouldnt get personal about an investment but if we are shafted i would hate to see the people responsible prospering off the carcus of the company and our money. Some may say "better to get 10pc of future success" but clearly in this scenario the board could not be trusted to deliver us anything. After this (following rrl, mwa and a few others) i am unlikely to invest in AIM again, thankfully most of my retirement pot is in bricks and mortar. A few months ago i thought i knew what this company was about but nothing adds up anymore and looking back over past RNSs everything seems to go into a blind alley with nothing stated ever concluding successfully. Rant over, popping a bottle of Malbec as far too late in the eve to be wound up!
All the posters crying and winging about the sp should surly have the 5% to call an EGM????So Instead of crying as you are doing daily why not put your money where your mouths are and call an EGM to once and for all find out what the state your investment is in......
The 10% placing run by YA this time last year. Jimzi ... forget their name now but they were London based - the name provided a bit of merriment during last years long decline. The MM vultures will gather for dinner whether its going up or down!
Balrog - I've been investing in AIM for a while so I'm used to the rough and tumble but my tolerance for some of the Directors is wearing a bit thin at the moment and as time passes the large losses start to hurt in tough market we have had the last few years. Back to FRR.....
We have had annual notes rolled over the directors and YA I recall have done that. But the CLN's look a different proposition. It may come down to whether SN is still on good relations with them after they lost a packet on the equity! I find it hard to believe they would just rollover without some re-negotiation on the price they could be exercised at in the future back into equity so that they could get back more of the equity value they lost previously. If we are in a poor cash position but big potential when they fall due they would be daft not too!
I think the oil is closest to redemption here as that campaign is clearly 2016. I still hope to do very well here but the gas play is a complete mystery and I would not like to place any timelines on that at the moment as I don't think we have any definite timelines apart from an unfunded campaign in part of the field in 2017!
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