Now as for this recent RNS, logic says they will simply announce the other BOD’s holding probably tomorrow. Why do I think this……BECAUSE THEY SAID IT IN BLACK AND WHITE! Also, it has been said Hugh and the others planned on applying for the full excess to the tune of £190k, which would lead you to believe they had the money ready for this. Now that it has been scaled back so drastically, I imagine that Hugh may purchase more shares with the rest of the cash he had ear marked??? This being the case it probably needs the relevant broker to confirm before official RNS is released. Do you really think that they could keep their holding a secret or simply not mention it!!
I am personally now looking forward to the possibility of a news feed tomorrow telling us how some BOD's purchased more shares above their entitlement at yesterday's/todays price.....if this is the case we could see 10p. Back where we started, no harm no foul
First off, no I am not a BOD, don’t post much but if you check my history going back a while you will know I am not.
Why I am so touchy? Well the main reason is you speak a lot of nonsense, not all but most. I can see that you obviously aren’t the typical deramper/shorter but rather a unexperienced investor who has been caught out out/annoyed by the placing so you can be forgiven for that.
The problem is, and one of the big problems this and other AIM companies face is that this market is very corrupt, easily manipulated and is all fuelled by people who invest with no research, no experience and simply follow the crowds using discussion boards as there main source of info. So when you are spouting rubbish, continually, you really are not helping and possibly stifling our progress. Very very sad but true, mm’s take sentiment straight from these boards and use it to help create the market.
Now I genuinely don’t have a problem with balanced opinions and negative posts, it’s what makes this a decent board, but some of the stuff you come out with…...
You really need to understand how a placing works, we even had the ex CEO on here the other day explaining it. Do you really think the BOD were sitting there at 10-10.5p thinking I know, lets do a placing at 6p??? NO THEY DIDN’T!!!. The corrupt market place and insider trading dragged this down to 7p issh as AIMinvestor rightly said meaning the placing came out at 6p. Placing’s used to be a legit way for companies to raise funds for the good of the company, but over time it has become a curse word. Mainly because, directors used the cash to pay themselves fat wages/bonuses and other overheads etc. The fact is here, all the proceeds are going to help drive this company forward, no bonuses, no pay rises, simply drilling! You sound like a typical ‘told you so’ after the fact. I guess you have no real senior management/decision making experience?? I gather this from posts like, ‘we should have waited until after the whole shale thing so we were at a higher price’……unfortunately the crystal ball company directors use, to look into the future is a myth. Everything is not so black and white or easy as you seem to keep saying. Things like ‘wait until after Wressle success then do the placing’…..well if Wressle failed (63% chance), then we would possibly not be able to raise the funds and it would be at 12 month later before we drilled Kiln if we did. Imagine what that would have done to our SP, believe me, a duster, with not another well for 12 months, 6p would be a great result.
I have no problem with you posting a more negative veiw here, there are many here that will ramp things up and or have a different more positive opinion. A more ballanced veiw is welcome.
The share price speaks for itself, a long term downward trend in a market where it's main product sold (oil) has risen in price. This based on a 8, 5 or 3 year period. I acknowledge it's potential which keeps me interested.
I've noted you've been here for a while, post as you feel, I welcome both sides of the argument.
What do you think the share price would be today if they had not placed shares (without shareholder approval) at 6p, given the boost to the share price with the shale gas announcement? I can make a guess, probably between 12-15p. Which would you rather have, shares worth 8p or double that.
Oh and don't forget that there are still a very large amount of shares bought at 6p which makes it very difficult to get the share price moving ahead and staying there because like it or not people will take a quick profit.
I agree with Karl, painful post to read from you there Clampetts - read the RNS before posting. Also part of the oversubscription was due to the share price being 7p at the closure date of the open offer, i.e. this was always going to result in a large influx of people applying for excess shares (myself included) and hence a factor in the resulting oversubsription. If the sp had dropped below or stayed at 6p do you really think it would have been as well as subscribed for? Anyway - the 6p was extremely low to place but it got the job done, cash is in bank, and we are ready to go for a big 2014, thank goodness for the shale update giving the sp a good kick start !
You seem a bit touchy. I wonder if you are a BOD, as everytime I make a comment you get annoyed. I just stated the simple fact that there should be no doubt how many shares they received as it clearly stated how many they applied for in an RNS and we know how many were allocated by the ratio so wonder what the mystery is.
If you are a BOD why don't you tell us why you placed shares at 6p to non shareholders when existing shareholders were not able to purchase shares as the BODs used a cash box instead of a rights issue. Clearly, the existing shareholders would have bought the shares as it was oversubscribed.
Your constant negative drivel is wearing thin now, it clearly states further announcements regarding the over BOD's shares once their relevant brokers have confirmed things.
Most likely seems as they never got full entitlement, they have or will use the excess to buy more shares at current levels which would be a great confidence boost..... And possibly stop you calling them every 2 seconds
Hmm!! I see that they haven't announced how many shares HM and RC have. That seems very strange since we know how many they had prior to the placing and how many they applied for, should be very easy to work out. What are they playing at?
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