Put in buy order for 3m some time ago but then spread leapt so exceeded my limit.Perhaps there are legs in the RTO rumour involving the company that has just made the biggest onshore US oil find this century! May try again if spread/price reverts.Anyway holders I am doing myself no favours but it seems you have some serious ramping ammo!!
These results include a 100% provision against our investment in Evergreen Oil Plc which stood at £176,798 at the end of last year following their announcement on 15 August 2012 that trading in their shares has been suspended pending clarification of their financial position. Without the write down on Evergreen there would have been a small profit on our portfolio return for the half year. This would compare quite favourably with a fall of 6% in the FTSE AIM All Share Super Sector Oil and Gas over the period of the interims. The complete write down of Evergreen, however, means there is a loss on the portfolio of £166,000. We await further news from Evergreen.
Also, keep an eye out for Maven NR this Autumn, a new initiative in the Natural Resources arena and something we have been working on for some time. Through MiningMaven we have been privileged to work with many superb and knowledgeable contacts. If you have awareness of, and access to, widespread opportunities in this sector, it is a privilege, especially if that can be combined with sources of traditional and innovative finance. For further information on developments you can sign up for updates on our website.
We wish you all the very best in the coming autumn trading season, we believe it could be most interesting!
-------- The Company is currently undertaking a number of discussions with certain existing creditors and is exploring various potential short term funding options designed to provide access to immediate working capital. The Company is also considering calling General Meeting with shareholders to discuss a cash call
our current board have recently issued a lot of shares to take a portfolio off of griffing two . the portfolio included POSSABILY evergreen oil and global brands .
both companies are represented by ADS and two members of our bod are also directors of ADS .
it shows ( A ) the ineptitude of our current BOD or ( B ) it shows what the current BOD think the shareholders of ADI
----- another thought
IF it was evergreen oil the BOD were talking to regards RTO because they were short of funds the blocking of resolution 8 was a nail in the coffin . why ? well the sinario i see was evergreen reverse into ADI . issue shares which allow them to continue trading . meanwhile share holders can touch there toes because they have something coming to them .
anyway where does that leave them now ( ADI ) .
no assets worth having £13000 worth of RGT shares that dont trade there 8 million od shares in GBR the loan note and the loss making trading portfolio. and a few grand in cash
i think todays news with evergreen could put the BOD under yet more pressure with regards there failings .
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