Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company, today announces that on 13 October 2014 Westward Investments Limited, a company which is owned by a discretionary trust of which Adonis Pouroulis, a Non-Executive Director, is one of a number of beneficiaries, purchased 1,029,096 ordinary shares of 1p each in the Company ("Ordinary Shares") at a price of 10.5 pence per Ordinary Share.
Following the purchase, Westward Investments Limited owns 28,454,671 Ordinary Shares representing 10.85% of the issued share capital of the Company. Adonis Pouroulis also owns 100,000 Ordinary Shares representing 0.04% of the issued share capital of the Company. In aggregate, Adonis Pouroulis is therefore interested in 28,554,671 Ordinary Shares representing 10.89% of the issued share capital of the Company.
We know for sure 7% of the new PI's and analysis of the share register means we can guess at a large chunk of the rest- Citigroup etc we also know Paul Welch still has a large chunk as does James burgess (2.25m shares) he was the old CEO prior to Pail Welch ..
Thankyou. I readily confess I know didley squat about oil and gas, but looking at Chariots 'Significant Shareholders:' Barclays, Hargreaves Lansdown, Standard Life, Halifax and Meridian, I'm assuming their 'due diligence' exceeds any amount of research I could ever do. I imagine each company keeps a special spanking paddle for staff who invest in ultimately unsuccessful companies, so their risk-aversion is going to be high. If it's a good enough investment for them, it's good enough for me. I also don't have to pay them a management fee or an advisor's fee for the privilege of giving them my money by investing it directly myself.
Excellent post. We are trading at a discount to cash and are debt free,,have Ben Turney (author of how to make money in oil and gas), Malcy Graham woods (bear turned bull on Chariot) and Paul Curtis (wealthy renowned oil investor) all pro chariot - these guys are not stupid. Yes we are all fed up, and yes Chariot have an annoying PR policy, but with 16 nearly 17 license blocks in 4 regions and with Mauritana having the same geo play as the recent significant Senegal oil find there is everything to play for! Sentiment has been s**t and contrarians are accumulating from weaker holders. Do not give your shares away - a tier 2 farm-out with drill will set this alight and there are plenty of negotiations happening to ensure IT will come. Do not underestimate the YF Finance/ meridian guys - in particular Gavin Wilson ..
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