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Igas Energy Share Chat (IGAS)



Share Price: 15.625Bid: 14.75Ask: 16.50Change: -0.375 (-2.34%)Faller - Igas Energy
Spread: 1.75Spread as %: 11.86%Open: 15.25High: 16.50Low: 15.25Yesterday’s Close: 16.00


Share Discussion for Igas Energy


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BB12
Posts: 20
Off Topic
Opinion:No Opinion
Price:15.625
RE: Top up
Today 19:54
"doing that at anything less than 135p would bankrupt him" - let me just clarify that point (for da lawyers!): I'm saying that if one decided to buy back your shares for 135p that are each now only worth 15.5p you may feel a bit poorer... I'm not saying that this would have actually bankrupted AA. It was just a turn of phrase. (I thank-you!)
 
BB12
Posts: 20
Answer
Opinion:Hold
Price:15.625
RE: Top up
Today 19:51
From what I understand the Equities First agreement that AA had was different to the one that various shorters had seen so they kept incorrectly stating he would have to be margin called. AA insisted that per the agreement he had the absolute intention of buying the shares back in 2017 or whenever the 3 year loan time was up... except that doing that at anything less than 135p would bankrupt him and with the ability to cash in and walk away the 'absolute intention' looked to everyone like a weaselly way of getting around AIM rules and selling shares without looking like you'd sold them to cash in to the tune of £7.5 mil.

So in other words AA has sold the shares and since he is not on the list of majority shareholders there are no shares left to be dumped on the market. That will have happened in the weeks after the EF deal by Equities First that would have dumped them like hot rocks. The only reason AA looked to still have them is that he had voting rights attached to those shares as long as his promise to buy them back was there. Since he is no longer with the company he has, (I assume), decided not to bankrupt himself and instead is being spoon-fed fresh Beluga caviar in a champagne bubble-bath surrounded by bikini-clad Slovakian supermodels..... okay, maybe not, but if I had £7.5 mil that easy then that's where you'd find me!
BRB1
Posts: 1,051
Off Topic
Opinion:No Opinion
Price:16.50
RE: Top up
Today 16:23
Vernony, totally agree, so what happens with these shares ?
Firing79
Posts: 795
Off Topic
Opinion:No Opinion
Price:16.50
Got back in yesterday!
Today 13:33
Personally I think a fantastic buy in rate !!
Vernony
Posts: 1,753
Observation
Opinion:No Opinion
Price:15.25
RE: Top up
Today 12:39
135.38 pps ? Why would he do that ?
MarktheSpark
Posts: 1,115
Observation
Opinion:Buy
Price:16.00
Nuclear safety falsification.
Today 09:39
Reports this morning that Areva, the French nuclear power station designer, may have been falsifying quality control documents (would anyone really be that stupide). Puts the new Hinkley plant under even more threat....tell you what, gas fired power stations could be built quickly and powered by UK (or French) shale gas. I can envisage a scenario now where the UK government might need to support shale development justified as a response to a national emergency if either French (from where we import 5% of our electricity) or UK nuclear stations need to be closed.
wordog
Posts: 1,847
Off Topic
Opinion:No Opinion
Price:15.00
RE: Top up
Tue 10:57
He already shorted them through a third party, remember?
BRB1
Posts: 1,051
Off Topic
Opinion:No Opinion
Price:15.00
RE: Top up
Tue 10:01
16/01/17. 7.5 million shares.

???

Just around the corner, discuss.
BRB1
Posts: 1,051
Off Topic
Opinion:No Opinion
Price:15.00
RE: Top up
Tue 09:40
Sold out off this share a while back. Looking to buy back in but am concerned about A. Austins shares.
IGas (LSE: IGAS), one of the leading producers of onshore hydrocarbons in the UK, has received notification that the Chief Executive Officer, Andrew Austin, has purchased 300,000 ordinary shares in the Company ("Ordinary Shares") at a price of 135.38p pence each.

To fund the acquisition of shares Andrew Austin has entered into a loan facility, and has transferred up to 7.5 million shares as security. Andrew Austin is required to redeem the shares at maturity when the loan is repaid at the end of the three year term and it is his full intention to do so. Under the terms of the facility the lender is contractually prohibited from short selling or voting the shares during the term of the loan. The loan facility has been arranged by Meridian Equity Partners and the funding provided by Equities First Holdings, a securities-based capital provider for institutional and individual clients.

What will be the consequences if these shares are dumped onto the market or used to short the company ?

Discuss.
wordog
Posts: 1,847
Off Topic
Opinion:No Opinion
Price:15.00
Top up
Tue 09:05
Been sitting on a 36p average for some time, might be ready to top up but I think this will go lower before it goes back up. I think that good news on the Cuadrilla front will notch it up but the only thing that will really recover the SP is evidence that the company is making enough money to service its debt and have enough to recommence exploration. At this point they are hibernating, let's hope it wakes up soon!




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