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Last post: Jjjerseygirl, 30 Jul 2021 10:12
Got it thanks
Did you? Why today? Thanks
Expected Chal back today...
Maybe next week
Started: Supertag, 15 Mar 2021 18:38
Last post: aej22, 15 Jul 2021 20:28
Approval granted for the reverse takeover to go ahead…
Finally might get to see some money back here by end of July!
Excellent RNS. Clear as mud.
Don't understand how is is so difficult to hold a meeting. Zoom, Teams etc etc, jeez, its not that hard...
Ah, I see. An RNS to say no one turned up again, adjourned sine die. Not very good, is it?
Does anyone know what happened at yesterday (Monday 12th)’s adjourned EGM.
Started: jimumpter, 12 Mar 2021 20:30
Last post: aej22, 14 Mar 2021 14:46
You might be lucky! The anticipated share price was 1.07 GBP (post consolidation of 266:1) following the reverse takeover.
Following this latest RNS I’m not sure what to expect though...
Please excuse my ignorance, I have long forgotten this dog of a share, but are my 104 shares potentially going to be worth something again?!
Last post: aej22, 10 Mar 2021 11:11
Anyone shed some light onto this latest RNS and intended share restructuring?
Shares have already been consolidated by 266 to 1. Are they still planning for 1.07GBP per share?
Well, as suspected. Not completed by the extension date.
However, this is interesting:
"The Boards of Challenger and Cindrigo are investigating an alternative transaction structure to achieve the proposed reverse takeover of the Cindrigo business by Challenger on potentially improved commercial terms."
Something to do with the Chancellor's latest announcement of funding for green energy projects?
Waiting.....
Either way, should be an RNS Monday!
Possibly - although I note that the other longstop extension RNS (29/10) said the same, only to be further extended in the 30/12 RNS.
who knows....would be nice to get something either way :-(
Started: Jjjerseygirl, 1 Sep 2020 17:20
Last post: londondan, 3 Nov 2020 10:36
"Extension of Longstop Date"
Well, it wouldn't be Challenger if they actually managed to close a deal on time.
Wow, so he has. Two or three years too late, but there we are. It's a packed field, but I think StarSanctum has to take the top spot in his 'greatest hits'.
LOL so Mark has finally gone. i guess it was a part of the RTO he step down
good luck to him as he did something right in the end
I'd completely forgotten about this pup, until I saw the shares on one of my dealing accounts and realised that it was still suspended. It would be impossible for any new venture to make more of a hash of things than the CEO did here, so good luck to them; it's the most consistently useless performance I've ever seen from one supposedly senior individual. Looking forward to the relist, when I can finally dump this once and for all.
Brilliant RNS, looks like we will get something back
Started: Casa67, 19 Aug 2020 08:54
Last post: Casa67, 19 Aug 2020 08:54
Potential reverse takeover and suspension of listingChallenger Acquisitions Limited (LSE: CHAL) is pleased to announce that it has entered into a Letter of Intent ("LOI") with Cindrigo Limited ("Cindrigo") and Cindrigo Energy Limited, which are part of a group of companies pursuing renewable energy projects built on broad Swedish expertise and experience in the waste to energy and biomass energy sector (see www.cindrigo.com).
The LOI contemplates Challenger making an offer ("Offer") to acquire all of the shares of Cindrigo, subject to completion of a reorganization between Cindrigo and its holding company, Cindrigo Energy Limited, which requires court approval in Canada. The making of the Offer would trigger the assumption by Cindrigo of the costs of implementing the transaction and obtaining readmission of the Company's shares to the Official List and the Main Market of the LSE along with certain of the overheads and creditors of Challenger, subject to a cap of £560,000. To support this obligation, Cindrigo is obliged to make an initial payment of £450,000 into the client account of the lawyers for Challenger.
On the making of the Offer, Cindrigo will be entitled to appoint two directors to the board of Challenger at which point two of the existing directors will step down. It has been agreed that the two remaining directors of Challenger will step down if requested at any time to do so by Cindrigo.
The consideration payable under the Offer will be the issue to Cindrigo shareholders of shares and/or convertible loan notes of Challenger such that, following completion, and conversion of the convertible notes issued as part of the consideration, the existing shareholders of Challenger together with the Company's existing holders of convertible notes will between them hold 3% of the share capital.
The current board of Challenger has unanimously approved the LOI and there is, subject-to-contract, agreement between the Company and all the convertible noteholders to facilitate this transaction.
Should the Offer complete, it would constitute a Reverse Take Over ("RTO") under the Listing Rules. Therefore, at the request of the Company the FCA suspended the Company's listing on the standard segment of the Official List and trading on the Main Market of the London Stock Exchange has also been suspended pending either a further announcement on specific details of the RTO, the publication of a prospectus, or an announcement that the RTO is not proceeding.
Challenger Acquisitions Limited (LSE: CHAL) is pleased to announce that it has entered into a Letter of Intent ("LOI") with Cindrigo Limited ("Cindrigo") and Cindrigo Energy Limited, which are part of a group of companies pursuing renewable energy projects built on broad Swedish expertise and experience in the waste to energy and biomass energy sector (see www.cindrigo.com).
The LOI contemplates Challenger making an offer ("Offer") to acquire all of the shares of Cindr
Started: Jjjerseygirl, 27 Jul 2020 15:44
Last post: Jjjerseygirl, 27 Jul 2020 15:44
Up each trade...
Started: Alan2017, 9 Jun 2020 12:56
Last post: OofyProsser, 24 Jul 2020 11:34
Rastuss - I agree it does seem very strange when you are quoting the companies accounts / RNS and adding up their liabilities and yet folk will go out of their way to say you're wrong....with no counter evidence (links, page numbers).
I do find it takes up our time and Admins time to filter the wheat from the chaff.
Rastuss - seems I have missed some action on the Chal board? I see my comment has taken collateral damage. Was it my analogy of Mr Von Tidswell drilling from the wrong well was the equivalent of siting the London Eye on the wrong side of the Thames?
What unpleasant allegations?
What has Alan been accused of doing?
In fact Jonathan Tidswell was forced to resign after not informing the board about his share dealings during a closed period.
5 separate occasions he conversed with America 2030 during the closed period and only got found out when they started selling his shares.
The strange thing is we still haven't found out why he was doing this in the first place, considering some folk call him successful.
He also staged a shareholder revolt (just him) which further crashed the SP. He actually turned Angus into a circus and they even ended up being front page of The Times....for the wrong reasons.
Sad to say his track record is very poor.
http://www.angusenergy.co.uk/wp-content/uploads/2019/03/Angus-Energy-Board-Changes.pdf
Rastuss - there would be dilution in an RTO as well. Whatever happens next there is going to be dilution. The point is that the value of the asset that is put into the company should increase the share price enough to outweigh the cost of the dilution - not necessarily instantly but over time.
Also, what is the alternative? CHAL remains here with no income and no substantial assets? It would have to raise money anyway just to keep the lights on.
Has anyone had any luck communicating with the company ?
Started: barnetpeter, 27 May 2020 16:30
Last post: MarketGunslinger, 9 Jun 2020 13:37
Rastuss - there would be dilution in an RTO as well. Whatever happens next there is going to be dilution. The point is that the value of the asset that is put into the company should increase the share price enough to outweigh the cost of the dilution - not necessarily instantly but over time.
Also, what is the alternative? CHAL remains here with no income and no substantial assets? It would have to raise money anyway just to keep the lights on.
There are a number of ways that this could be done:
FIRST
The company would do a raising at a fixed price (but hopefully one that is higher than where it is today). It would be done wholly to a selection of private investors who would be made inside (ie aware of what the asset that was being vended in was). They would look at what they think that the asset could be worth in the future and make their investment (at a premium) based on this. The reason that they would buy in a placing as a premium instead of on-market is so that they could buy shares in significant quantities.
The company would pay for the asset in a mixture of cash (from the placing) and also shares (at the placing price). The seller of the asset would agree to this as they would be in receipt of some instant cash and also share that would likely go up in value.
SECOND
They could farm-into a project where they agree to take, say, 50% of the asset in exchange for paying for all of an oil drill (if it was an oil project) and giving the owner a free-carry (where they do not have to invest any more money) through to production. The company would still need to raise money but the share price should increase once they show that they have a potentially valuable asset and they can raise capital at a premium to the current share price in the way described above.
In the first instance the seller of the asset is able to generate revenue by receiving cash and being able to sell shares on the stock market. In the second instance, they know that they are going to be funded through to production without it costing them any further money.
There are a number of other options as well but these are the first that spring to mind. The bottom line is that whatever happens the company will need to raise capital by issuing shares. If they have a very good asset then they may be able to issue these shares at a premium of the current price but failing that they may have to issue at a discount. Either way, they will raise the capital based on the fact that the value of the company with the asset in it will be far greater than it is today.
barentpeter - I don't think that this will be a takeover by a private company. It is far more likely (99.99% IMO) to see an asset vended into the company at the behest of Tidswell-Pretorius.
That is what I am have invested for anyway as Tidswell-Pretorius has been very successful at doing this in the past - and making early investors an awful lot of money along the way.
Yep. Always a bounce here. Full listing so no threat to delist. Lots of private companies must want to list and raise cash and this is cheap basically.
0.1p is clearly the magic number if you want to be in the game with the same risk-profile as Tidswell-Pretorius, but like I said the other day even 0.2p will be a multibagger over the next 12 months if Tidswell-Pretorius can do the same thing with assets here as he did with Horse Hill for UKOG and Angus.
Started: Wressmycase, 22 May 2020 14:35
Last post: itisagame, 26 May 2020 22:34
end of the day the RTO target doesn't have to be a good one, just good enough to justify a capital raise that pays for setting it up and a little extra for a bit of debt repayment, wages and create enough volume to bump the sp up for some conversions, better to keep the company alive to extract some new cash from shareholders and maybe restructure the debt then it wipe out and take a complete loss on the convertible debt.
look at wdc icon and the never ending conversions, it was rubbish for shareholders but the legacy debt (and a heck of a lot of financing fees) has been repaid with funds extracted from new shareholder funds over time.
Plenty of negatives but while its trading there is still a chance for a little upside.
Its not for me but i still keep an eye on this.
You make a fair point about the CEO but I'd suggest you check out George Lucan who was appointed as a director. He is a finance professional. It also states in the latest RNS that the company are searching for a reverse takeover candidate. It could not be any clearer.
The CEO has failed to execute a single successful project throughout his time here, so I have significant doubts about his ability to find a suitable RTO candidate before the company's ever-dwindling cash pile runs out. Time will tell anyway. One of us will be right!
Dan, the issue is you actually cant always buy shares. This rose significantly yesterday and has spent today consolidating at a higher price. I look at the company and the market cap and know it should be a lot higher. It is much more valuable than its market cap with a main market listing.
There is a book's worth of reasons why one might be negative about this company, but I haven't the inclination to write it (nor I imagine, does anyone else to read it).
I think we're all agreed that this company has nothing to do with wheels or indeed any other kind of project any more. It's now a zombie company running on fumes. They'll either manage to find a RTO candidate before the music stops, or it's game over. If the results are any guide, it's almost out of cash now. It's a punt, as we all acknowledge.
What irritates me is the kind of rampy rubbish which gets thrown around on shares like this, which is clearly designed to fool the gullible. All this 'can't buy a single share' drivel is easily disproven by putting through a dummy trade. You can buy as many as you want - tens upon tens of thousands of shares at any time. There's nothing wrong with saying 'I'm trading this dog share as a punt'; just cut out all the lies.
Last post: londondan, 22 May 2020 13:30
People say stuff like that a lot on Twitter, to create the impression of demand.
Someone on twitter just posted they can’t buy, not sure if true, but I can sell ok?
It would be a bit crazy to sell this right now. It's on the cusp of something huge. Look at the share price movement and the value of the company. It's worth so much as a RTO. If you've lost in the past then I think this could be a chance to make some money back here.
Iain, you haven't posted here in months! Good to see you're still clinging on.
I echo that sentiment.
LondonDan.... lol!
This pants company is very busy .
Best of
on the flip side does anyone else remember the day that this dropped to under a £100k mcap intraday? think that was about the only time people made money trading this.
Limp finish to the day. Hardly surprising given that the ramp was based on thin air.
Could at at 0.16 today ,
Which would be nice.
Best of
London....this has gone from 45p to ten a penny. How can you not trust the amazing talent of the CEO? It takes real talent to do that you know!
Started: Joinedtherush, 21 May 2020 12:32
Last post: londondan, 21 May 2020 13:00
Why do you think that the market cap is so low? It's because everything that this company has ever attempted has failed. That isn't an exaggeration for effect - literally all of its projects have failed. A wild RTO punt is all that remains it seems.
The market cap is so low. This has to be a worthy RTO. Look at the board, all cleared up and ready now results have been released.
Started: barnetpeter, 18 May 2020 20:04
Last post: londondan, 19 May 2020 11:48
Yes, that made me laugh as well. Stretching optimism to its very limits. No one could possibly be pleased to deliver (or indeed read) such a shoddy set of results.
That they stagger on. How do they meet day to day costs? They have had loads of money over the years..,done the lot
Started: bbr391, 15 May 2020 11:03
Last post: bbr391, 15 May 2020 11:03
And sponsored by Barings Bank .
What could possibly go wrong ?
Best of
Started: draft, 14 May 2020 15:34
Last post: londondan, 14 May 2020 18:12
'The remaining balance of US$25,000 is still outstanding and being pursued by the Company.'
I knew it. Exactly as I've been saying for months now. They've been stiffed on the last payment and presumably don't have the means to chase it through the courts. What an embarrassment.
That might be the worst set of results I've ever seen from any company. 'Final results' is an apt title, as I can't see this dog being around when the next set is due.
Challenger is actively searching for an appropriate Reverse Takeover candidate in order to create long-term value for its shareholders.
The hunt for Utopia remains.
Best of
Story on their rns. What a waste of cash
Started: maxarch, 13 May 2020 09:52
Last post: londondan, 13 May 2020 19:56
Some people learned some tough lessons yesterday by the looks of it. They're now either sitting on a big loss, or trapped in a worthless share.
I've heard Chal is like Apple in the 80s lolzzz
Ouchy. Also, £300k mkt cap!! I might buy this company
One can only hope yesterdays 0.2p is a prelude
Of better things .
Best of
Welcome to our new LTHs, who got spiked in to this yesterday and are now trapped here. You're in for a wild ride.
But no matter how s***e this company is, the regulars here turn up and have been doing so for years ??
Last post: londondan, 12 May 2020 13:59
0.165 finish may be In order .
Unless news drops.
Best of
Top up
Last post: TheTruth., 12 May 2020 13:32
Keeps going up
Last post: TheTruth., 12 May 2020 13:31
What price on Twitter?
Yearly high is a possibility.
Best of
45 per cent now but if chal can place they def will. No idea what they do now after the wheel dreams ended. Must be skint I would think....holding just a few and this has spiked hard in the past. Have sold at over 2p in the past.
i would be happy to dump my stock of this piece of S*** but i dont need the 10p i would get
It is garbage, learn the hard way.
Started: TheTruth., 12 May 2020 13:29
Last post: TheTruth., 12 May 2020 13:29
So the herd could take this up more but if they don’t still made a little profit
Last post: TheTruth., 12 May 2020 13:00
Excellent