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I haven't received anything from my broker. How and where do I vote thanks
I’ve heard they voted yes but everyone needs to cast their own :-)
Sorry I make 2 bags and my original bag.
At present I have £0 as shares have been suspended. GW has taken Shares at .4p on relist. I bought my shares at .13. GW cannot sell his shares on relist, if he has chosen .4 as the price his shares are issued, he will be expecting to sell them at above.4 when the time comes. Therefore logically he will have given himself shares below where he thinks they will be. (otherwise there is no profit for him). He is not relisting on the casino that is AIM. He could be lining us all up for the SP to be well below .4 but all that would be doing is hitting his own profits. If GW make a fortune out of this then good luck to him, as a by product of that I too should make at least 3 bags (based on .4) but if higher (say 1p) I make 7 bags. Alternative is shares stay suspended and I make -1 bag. Hmmmmm 3 bags or -1 bag. I'll take the 3 bags thank you. All IMHO. I have voted YES to both resolutions. If I am missing something please help me out.
Ginksy: hands up - I admit AIM is not for me - I'm just an AIM ignoramus ! I want out. I'll be "happy" with 0.1 p.
why .1p we have an asset now why not higher say .3p or .4p
you done the right thing, its not the ideal scenario but it is better than not listing at all...
I've reconsidered and voted yes in the hope of getting 0.1 p per share back !
Or actually I have voted yes to both.
Tbh I do not understand anyone voting no or atleast saying as much. Seems to me more like doom sayers.
GW converted shares into INFT at a premium before suspension.
The strike price of Transgas deal is 0.4p. Both are reasonable.
Transgas have more km2 than UKOG and will be the largest landbase onshore UK. UKOG do not own 100% of their licence areas and neither will INFT.
200m barrels conventional
And 11bn barrels unconventional is some number which is going to increase after analysis of the additional two prospects stated in the letter.
The shares to GW as part of the transaction are not available for sale so they are stuck until INFT perform some sort of corporate deal later on but the yardstick has been put down.
It’s obvious from various news sources that Gw has ‘another way’ for
Exploration with possible new technology so this will be interesting as it developes.
There is a CPR for these figures whereas some companies do not have this.
This is really a simple game. Want to make money with the CEO heavily invested and aligned to shareholders then vote yes. It is rhat Simple.
This whole process has taken a long time and Transgas as it is now has been built up over a much longer time frame.
Its not too far from my work so will head go most likely Tuesday. If I can take pics on my phone I will, especially of the CPR.
Will report back once I have.
has been cast and it is yes to both...
The company have E-mailed me and confirmed the CPR is in the underlying documents, Andre is going in next week and I guess they are available for anyone else who is close by. If we can get a thumbs up from Andre and he is happy to vote yes I will also as I am intrigued by the straight to production technique that could be worth a small fortune. I don't think we will ever drill a hole in the PEDL's and an over £40 million valuation is very surprising but I am no expert.
In view of the uncertainties I will vote no. Yes, potentially stuck here for a few more years and lose everything. AIM is a sequence of gambles. A larger stake in Transgas would make the situation sweeter.
2 non-executive directors to be arranged. Waiting...again...would love to know before voting !
"It's a yes from me" ... now where have I heard that?
The last two years hasn't given me much confidence no. Hardly set the deal making world on fire considering it was all in his ownership to start with! How do you bleed as much out of this mess as possible before you lose the last of your licences and turn 70. Getting mugs to vote you in with a majority share holding would be step one surely?
You think so little of the man yet you chose to stay in when it suspended, quite bizarre
Operating expenses like a nice pay rise for the CEO...lets have a vote on that shall we...oh wait...ok let GW have a vote on that himself!
millie99 "seems to me if its a no , GW will be struggling , well out of pocket with all the costs of this so far , and forced to come back however long it may take with a better offer , i,m voting no deal"
The costs for this will come out of INFT coffers, it's INFT company business not GW's, yet another reason to vote it through and have as much cash left for operating expenses, and not let it all get burnt through on future attempts to re-list
He needs our votes, issuing at .002p would have had us all spitting feathers.
You're making my point for me, if he issued the shares at 0.2p and they opened at 0.1p he'd be £5 million up
Work it out . . .
.4 sounds good doesn't it but if it opens at .1 not so good for us and he is still 2million quid up.
Well said ismalia
He converted his loan note at a higher strike price than the SP at the time:-
On 5 April 2017, Mr G L Williams, a Director and Shareholder of the Company, converted his convertible loan totalling £480,000 into new ordinary shares in the Company at a conversion rate of £0.0013, equating to 369,230,769 new ordinary shares. The shares were issued at an amount higher than the par value of the Company's shares at that time of GBP 0.001090 per share.
And now he's taking his payment for 26% of Transgas in INFT shares at 0.4p, 2.85 times the closing SP, hardly the work of someone just feathering his own nest
Me too, yes to both. 11m shares. Good Luck.
That's not a sensible explanation
He could have set the strike price at 0.2p and made INFT issue twice as many shares