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Fanks Scrodingerscat..........!
There's certainly a lot of big words there for me to translate.......! :)
All the best (I'll be back next week..........! :()
Chesh I know you type like you are from another planet but the special resolution allows modification of section 551 ( covered by ordinary resolution 6 which I'm not opposing). The allotment of shares and equity raises have no pre-emption for existing shareholders. See b.) below For info.
570(1) Where the directors of a company are generally authorised for the purposes of section 551 (power of directors to allot shares etc: authorisation by company), they may be given power by the articles, or by a special resolution of the company, to allot equity securities pursuant to that authorisation as if section 561 (existing shareholders' right of pre-emption)–
(a)did not apply to the allotment, or
(b)applied to the allotment with such modifications as the directors may determine.
570(2) Where the directors make an allotment under this section, the provisions of this Chapter have effect accordingly.
570(3) The power conferred by this section ceases to have effect when the authorisation to which it relates–
(a)is revoked, or
(b)would (if not renewed) expire. But if the authorisation is renewed the power may also be renewed, for a period not longer than that for which the authorisation is renewed, by a special resolution of the company.
570(4) Notwithstanding that the power conferred by this section has expired, the directors may allot equity securities in pursuance of an offer or agreement previously made by the company if the power enabled the company to make an offer or agreement that would or might require equity securities to be allotted after it expired.
Hey rxdav.........!
The point to my post was that I reckon we already know which way certain posters here will vote re: res 2........!
but res 7 was the confusion for me........!
All the best (we could start a sweep on how much of a majority PH will be retained by ........! :()
Chesh, As long as PH is CEO, the market (both PI's & II's (both have suffered badly during his tenure)) will continue to treat BLOE as something very nasty and suspect to be kept at the end of a long sick. New leadership is what BLOE has been needed for a long time - the SP has been saying that to anyone who will listen for years now (deluded happy clappers are exempt obviously!). IMO of course.
I understand the res 2 feeling, that was pretty obvs from ya both.........! :()
but res 7.......? firstly the shares for salaries are already issued and held in a trust.......! aren't they........? and secondly res 7 "Directors decide to allot unissued Ordinary Shares in the Company the shares proposed to be issued be first offered to existing shareholders in proportion to their existing holdings", this is always desirable....! isn't it........?
All the best (I'll be voting to retain PH, and be offered a part in any future issues................! :()
I will be doing the same.
Well AGM proxy is available now, for those wishing to vote the 2 resolutions of note are:
Resolution 2 - To re-elect Paul Haywood as a director of the company
Special resolution 7 - To authorise the directors to allot equity securities pursuant to Section 570 of the companies act 2006.
There have been plenty complaining about the leadership and salaries for shares scheme so this is the opportunity to directly show these frustrations. I have emailed my broker this morning asking them to submit my opposition to both resolution 2 and 7.
I'm wiv tarbs on this one..........!
I was being quoted 1.45p when they dropped the price......!
2,250k shares @1.438p delayed was a sell, and is now outta way...... :)
They'll not keep the Ask down if their is appetite to buy, that's fosho..... :)
All the best (hopefully seller is finished......! :()
Topped up at 1.45p
Today all buys
That was yesterday late trade ..
Crikey, how long have you been here? Do your own research!
What red flags did you see ?
"there were red flags all over the place."
Scooby it doesn't make me feel better, so it's unnecessary to be sarcastic. I have followed this since the IPO, clocked out and got my money back at 4p because there were red flags all over the place.
Nothing has changed in fact it's got worse, look at the diluted SP now.
I'm not invested, nor likely to be unless a miracle happens with PHs predictions and something comes true. In the meantime I will continue to comment. If you don't like it there is a filter button.
Hmmm … I could have bought shed loads at 1.45 today… all buys today me thinks to cover the sell at the end.
The mm's can have some of mine at 20p. Not a penny earlier. If we can get oil production up to 1000bopd (over $30mill a year revenue) with a few successful sidetracks and with up to 1TCF to go after then 20p will be blown away IMO. Then next stop 2k bopd all funded with existing cash. Not so far fetched with all the drills coming up. Come on Bloe, let's get the party started with a positive Q2 update!!!! And of course the long awaited spud!!! Onwards and upwards.
Bobby
look back over the last 10 days, MM's had been acquiring stock, clearly they were expecting news that is overdue longer than expected, they have reduced their holding with the the large fill orders.
This is a good thing for incoming positive news, the less play stock the MM's have the better IMO.
bedex, you cant compare two different companies by posters on a BB, BLOE's outcome is dependent on the next results and what cash they have accumulated to fund the drilling program. If bloe can fund the next 6 months activity with drills and sidetracks from generated cash that is a very different situation to FRR.
but of course point to a failed company that you invested in to make yourself feel better.
The 8k buy at the end of yesterday mopped up yesterday's sells. Even so sells yesterday were 1.52. why would mm's buy at 1.52 and sell to someone today at 1.44? Come on PH get this drill bit turning and crack on with the plan.
look at the trade price, anything 1.45 or below was a sell, the only red trade was someone who doesnt know how to trade on AIM. Mostly sells today to feed that large buy order with remaining coming from MM stock. Blue day tomorrow. MM's did well today on a slow day.
anybody that sold today just fed a largish buy order, if they had to buy on market we would of gone up 20%. ultimately MM's received a large discounted buy order on open, dipped the bid to feed it and it worked. How do I know. probably 80% of my holding has been acquired this way.
Yesterday's sells
This BB resembles so much the frr board as the SP slowly sunk. Any excuse for a drop put forward by the locked in, it's painful to watch. Nobody believes PH ( well apart from a few) that's why the SP is on it's knees.
I hope for your sakes I am wrong but the patterns the same.
Good Luck
Buy order filled with what? I didn't see any sells.
That was a nice buy order filled Explains why they dropped the price..Roll on tomorrow..
Hahaha very true!
.....an Greta is a perfect example to use on an O&G stock Deeez...........! :() lol
I'm as surprised as anyone is as to the drop, the £300 sell is the only 'real' sell I see....... :)
All the best (what could it mean......? :()
The 185k was my add on earlier, surprised it dropped further.