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Firstly sorry for any Holders in above 42, total shocker.
Not holding and saw the rns and thinking quite a bit of upside current SP, am I missing something here…
The buyback figure mentioned seems to equate to all the shares in free float (20%) so assume they can’t not offer you the 42p? Other than the delay or the move being voted down which is just further upside.
Very happy for those with experience of this sort of thing to correct my assumptions!
Cheers
@ 18:11 - 'fraid you're right. I was absent this afternoon and deserve to take a hit tomorrow. A great pity all round but we know what these charlatans are like . . . Eclairs' case history says it all and many of us still went ahead.
After this signal lesson very few will ever again support a Ukrainian venture. Very short-sighted by the so-called board who have timed their ploy to perfection. I'd say the step has been executed at a moment when the minutiae coalesced. Totally opportunistic but also dishonest.
5p under the offer price so was probably a bit rash. But if you having better places to put the cash then good on you. I'm going see the price acts over the next few days/weeks. The offer price should act as a bit of a magnet and you never know, maybe one of the big iis will push for a higher buyout price?
Have they held back news about the new well too? Was expecting something at least either good or bad.
Feeling gutted about this 42p offer, would shake their hand at 60p
'Who would sell their shares for 42p?'
Bit annoyed at another BoD or think that they can treat their shareholders like sh*t! But I bought in at an average of 20p, so can't grumble. Wasn't planning on being a LT holder but did have a target of 60p in mind. Fingers crossed that the offer has to be raised! ;)
‘The Tender Offer would have a basic entitlement (subject to possible reduction to ensure the Tender Offer does not exceed 40,096,476 Ordinary Shares) per Qualifying Shareholder of 500,000 Ordinary Shares. The basic entitlement is intended to ensure that Shareholders with interests in Ordinary Shares equal to or smaller than this basic entitlement are able to tender their interests for cash in full should they so choose.’
This entire paragraph is stating that anyone that has up to 500,000 shares or £210k will get fully filled in the tender at 42p if they so wish, is that correct?
So, assuming your holding is below that threshold, anyone that wants to sell 100% in the tender can sell 100% in the tender. I think.
Tony Alves did something similar with another gas one in Russia I recall, Cadogan possibly, send him a message tell him what you think of his efforts here to mug you 07842 884342. As far as I'm concerned JKX has been one of the most P*ss poor pi companies out there, I had 1% a while ago, got irritated with 2pm RNS and a total lack of interest in addressing some questions. Been robbed here, issued this news just at the price was heading back up. Top 5 are in on this it will go ahead.
Ofcourse you will lol
Might get moved up the tender price
ii will be buying up all shares for sale below 42p and then vote against the resolution, forcing a renegotiation of the "buyout" price.
The iis may not all want to be in a private co in Ukraine in fact im sure they wont so they may do some selling.If the sp had been 60p or over it wouldn't have been too bad but this is rock bottom
Raise funds? They're sat on 56m dollars !
I think it seems likely that the funds are agreed this is worth staying into on a private basis.
If not they won't get the votes.
Which means that you can almost certainly sell for 42p in the tender up to 500,000 shares.
Just my thoughts.
I have no doubt this will be passed,apparently this has been going on for some time with the FCA
what a **** story this turned out to be. And coincidentally, right when the company really started get moving. I got in right after the last q results rns, at about 53 p. Has the company ever mentioned the "discussions with the FCA wrt the 25% rule" in the past? If I would have known that this was being discussed, I would not have bought shares until it was resolved.
what are the chances of a rejected privatisation ?
am I right to assume that if privatisation is successful the minimum price will be 42p ?
Best to lay out the options we have. 3 as far as I see it.
Approved privatisation, Accepted tender - 42p a share
Approved privatisation, Reject tender - sell on match bargain facility, a lot of unknowns here
Rejected privatisation - share price likely increases significantly
Oldholder,
Would that not mean that either:
These funds are in cahoots with JKX on this and as such won’t be competing with us in the tender offer.
Or,
They will vote against the resolution and JKX won’t get anywhere near the 75% they need to pass this anyway?
They are giving very poor excuses for leaving. They could easily raise funds if the need it via placings. Just look at companies like ZEN and UKOG and 88E.
They just want all PI's out so they can reap the benefits. Lessons to be learnt here.
If that was the case surely they would be considered part of the "free float" and therefore way above the 25% threshold.
The only reason this delisting can occur is the free float is below 25% FCA limit. Otherwise the IIs could torpedo this and vote against it. Push for higher sale price. Half of the market cap is in cash, even before this current blowout Q4. The IIs must all be on board at delisting at this price, knowing they'll get huge dividends soon as they go private. The excuse about financing is a joke now they have huge amounts of cash
Yes, but so is everyone else. Withh prices where they are, this SP would be much higher soon, imv, and this is outright fraud on all PIs. Lesson learnt ; AIM shares in dodgy jurisdictions with majority shareholders holding controlling stakes will screw you over.
Selling at this price might be crazy, but by doing what they have done the management have shown what they are. I'm just happy to be out. It's a shame because I'm leaving with over 10 grand profit but feel like I've been robbed. Still life goes on, lets just hope they lose all there court cases!
And who will be first in the queue begs the question
Florence141414
No becuse it is posible the institutions like Eclairs Group Ltd 47,287,027 shares 27.54% or Bridgewater Holdings Corp. 34,288,253 shares 19.97% or the rest of them as Neptune Invest & Finance Corp , Keyhall Holding Ltd and Interneft Ltd to sell their shares
so anyone who bought above 42p is basically scr8wd ?