Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Ocelot, once the new shares are issued the percentanges will drop again for the 3% holders unless they buy more shares,
Lost 1 major holder, gained 3 larger.
In RNSs on 2 successive days, Angus's share capital structure has been totally transformed. This is how it looks this morning, following yesterday's exit of the biggest shareholder until then, GP (Jersey) Limited:
Shareholdings in Angus Energy of greater than 3% are as follows:
Name Percentage of Enlarged Share Capital
Knowe Properties Limited 7.05%
Spreadex Ltd 3.51%
Sebastian Marr 3.48%
The above information was accurate as at 23 May 2022 and is based on TR1 notifications received by the Company.
1/ It looks as if Forum has accepted the discount on the sale of its 49% in exchange for obtaining shares in a quoted company, Angus.
2/ To support the Acquisition, AND THE COMPANY's GROWTH AMBITIONS (my capitals), and to manage general working capital and Saltfleetby project capital expenditure in particular, Angus is pleased to announce that it has secured a group of strategic investors with whom the Company has completed, by way of a direct subscription, a conditional issue of 546,000,000 new Ordinary Shares (the "Subscription Shares") at 1.09896011 pence per share to raise GBP6,000,000 with a group of family offices and private investors led by Aleph (the "Direct Subscription").
Ā£6m is the largest injection of cash into Angus I have seen.
GP Jersey 'appear' to have wanted the SOU deal because they would've benefitted via profit (and probably future promises for backing the bid). They failed, therefore based on the bio of the chap who heads the firm, he probably spat his dummy out and then had to sell because his horse and cart was required in another stock to try something similar.
They are gone now so let's see if any new groups get involved by grabbing some of these placing shares in anticipation of a bid for the whole company.
All the best
Bobrad, P.S. I posted months ago that it wouldn't surprise me if Angus bought the other partners out. If you look at Doriemus giving up the stake in Lidsey,you will find that they now own a percentage in the whole company like this deal.
Blinded by the xhite.
You're being sold a pup if you think the beneficiary is going to be invested here. Quick buck made and gone and selling into all and every rise for months to come. Should have been able to get bank finance instead.
"The Initial Consideration Shares and Additional Consideration Shares are to be issued on the day prior to Admission. The 91 million Initial Consideration Shares can be disposed of immediately but Forum has undertaken not to dispose of any Additional Consideration Shares for the first 3 months from the date of Acquisition and not to dispose of more than 25% of the 546,000,000 Additional Consideration Shares in each 3-month period thereafter."
Crocqman, I think the TR-1 yesterday, GP Jersey bailing out is unrelated to this. GP is now piling in to CEG.
Looks like they made their money here (30% to 50% profit on a few Ā£million) and moved on. It is clear from the TR-1 that they started selling some time ago.
bobrad, if Angus bought out the 49% once gas is flowing the price would be a lot higher, you obviously don't understand how to do business so be a good boy and shut up.
Told you so
Maybe jersey sold as they knew they could get in again lower.
Not sure what to make of the TR1 selling out only days ago on the back of this.
Were they aware of this potential deal and not being offered a slice of the pie themselves? Was it the dilution they were unhappy about?
Surely they would not have just sold out on a whim and this deal is pure coincidence?
Note middle of June for 1st gas. So a slippage of at least 2 weeks on what was being touted on here also.
Still to read through the details in in full
One thing though, ANGS certainly never disappoint, or make anything easy!!
gla
... With a conservative estimate for wet commissioning we are confident of being able to make initial nominations, or First Gas, toward the middle of June. We aim to focus on new opportunities as soon as this milestone is achieved."
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It's the 2nd sentence which interests me as much as the first.
It sounds as if they have other projects in mind and that Angus may become much more active on the acquisition front.
70% unhedged. Anyone done the math. Wow thatās great.
Think it's clear that management has considerable ambitions for Angus.
Also think it's profile may begin to interest institutional small cap funds.
Like I said company maker boommmm
Ps sorry couldnāt help myself as a long term investor gla
Angus need the cash just now and the vendor is retaining upside through discounted shares so it looks like a win win to me. How much gas and when is key issues.
Back in jan I said if things go well they could be producing in July and that is looking more certain imv.
For once I am in complete support of the acquisition and the placing. The acquisition is at a huge discount and shares are going in tight hands./long term investors. and its being funded by partial placing and future gas revenues which will begin in June. 70% of the total production will be unhedged. 10 pence in the near future IMHO.
Big transaction, Angus has just become a much bigger company.
100% ownership of saltfleetby for 14 million
Hell hath no fury like a woman scorned.
I'm grateful to Ocelot for linking that in
I know 1 or 2 perhaps justifiably doubted my naming of her repeatedly
Nasty individual as two faced as they come in the industry....
lol and there in black and white Is Ruth writing the article
The disinformation and quite deliberate gaslighting from this woman is extraordinary as regards her agenda
Truly astonishing.....
https://drillordrop.com/2022/05/23/brockham-oil-production-resumes-and-water-reinjection-begins/