Seen assets ... Out of this world . He doesn't want to be ceo he wants the whole company . Arranges placing cheap as possible,buys all shares under nominee account now 29.9% shareholder,all at rock-bottom price.
All the big trades past week not shares being forward sold but bmd and oil loading up . What about that then lol
I wish I knew more than I do, my friend. What is clear is that the money we raised the other day is not enough to buy any asset. so if we are to raise that sort of money to pay for the asset cash there will be enormous dilution and somehow with the developments over the last few days I don't think that will happen. I do think that there was a danger over the last few weeks that the Indonesians if it si indeed them might have been pulling back from the deal when they looked at who was running SER or not running it as was the case and the emergence of JE, but with BMD back hopefully the chance of a deal is growing again. I do honestly feel very bad about BMD playing us shareholders in the way he did but it might help the SP now to make BMD another sack of money. If I should guess some sort of reverse would be my favourite but I don't know.
as to the value of SER after the deal there are so many unknowns that it becomes speculative, but a 250 asset at $60 should be wirth something between 0.20 and 0.30 maximum. Other things of course come into the SP but any dreams of 1 p or anything close to that is so far fetched now that I t is not worth speculating about. Maybe a 0.20 party would be the ambition now.
It has become a very strange share, a traders paradise. cant recall any other share in recent times that is being traded and talked about so much without actually having any asset or generating any income for so long. In a hospital they would have switched of the life support long time ago but in the world of sharedealing this cat might have a 1 or 2 lives left
llowing the Placing, the Company will have a total of 4,101,381,534 Shares in issue (the "Enlarged Share Capital"). The new Shares issued pursuant to the Placing represent 29.99% of the Enlarged Share Capital.
When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced (30% of the voting rights of a company is treated by the Code as the level at which effective control is obtained)......
out of interest what do you now think the shape of any asset deal is likely to take - a reverse and share swap or raising more cash and dilution? Most of all what do you think any value will be attached to SER when evaluating the deal for those asset?
I honestly don't think Raylene has made all the decisions here. If she has it is even worse than I thought as she no background or experience to do so. of course the placing was awful but BMD knew that, he should have done the placing when the share was flying high. I am convinced the original idea was that the asset should have been bought and the CEO in place long ago and that would have meant revenue beginning to flow and maybe no need for a placing at all. As nothing has happened still because of things going on behind the scene we were probably in a situation where we had to get more money, so no choice left.
Reylene was left with the keys ,when she found about about placing she should have done everything in her power to stop it. So I'm afraid the buck does stop with her and advisers .
To then find out we was offered 0.20 is even worse . I don't believe sheppard ever intended to join and there may be history between him and bmd/oil so he was very happy to stitch then with placing price . ....
This should defo start creeping up next week. BMD will b tweeting again no doubt. KK will b doing his blog n pumpin it up. I bought £15k at 0.085p adding to my previous buys so v excited about the week ahead.
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