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Could even see Graham and Simon B have a punt soon!!
QT,
I think, Graham, pretty much acknowledges that the likelihood of extra funds from the OO when he uses the word "hope". I've resiled myself from the notion that this company will ever do anything to the benefit of shareholders and quite frankly Graham needs to do much, much better!
Good luck with that.
Royscot, Looks like the company will say.."we gave you the OO but no one took us up on it" and so next drop if or when placing occurs is down to us! Ummmm?? Need a rabbit out of the hat now...SPV, HOTS??
yeah same here... to be honest what more can be said at the minute #desperatetimes
You getting posts ok all day?
I've had no recent feeds nut noticed mine stopped at 10:57???? Lse..Obviously not working....
What do you mean, QT?
Amazing how quiet this can get with a rise in SP. #excitingtimes
Actually Gary i think there is more chance that they would have struggled to get the OO taken up if it was done at the same time. And i think quite a few would have missed out had they done it at the same time. A lot of people i have spoken to are looking for further news before subscribing. Also it has enabled others to purchase additional shares pre record date. So i do feel there are more benefits to holding it back, but the main benefit would be a derisked take up if they can deliver news, so we wait to see if they can update on the SPV and seed finance or something else in the next week or so.
The only possible reason i can think the delay may benefit the placees is that the delay means the new shares make the record date and therefore the placees can participate as I can't see any notice that they are being excluded from participating in the OO, which might normally be the case to fully ensure only existing holders benefit and the placees don’t get a double dip.
There are 2 possibilities imo 1) The company don’t need the money and have reduced cash burn rate significantly through formation of SPV and such like that will allow separate project financing without dilution 2) Price sensitive (positive) news will be announced that will increase sp and provide incentive for existing holders to buy in. Anything otherwise and I will be scratching my head about why the company has decided on recent sequence of events.
Just my opinion, but had the open offer come at the same time, I think that would at least have helped to form a base at the 0.3p area - by splitting it like this they’ve jeopardised the chance to raise additional funds that they probably needed (who is going to take the open offer when the SP is lower on the open market?). Had it all come at the same time they’d have raised around £500k
Yes Gary.... it looks very much like it was shorted and the company was held to ransom over the placing price. But that is very different to the company delaying the OO for them to flip is it not....... The question I have is why did they wait until the last minute to do the placing? Why did they not do it pre AGM? Why did they not do it immediatley after the AGM? Did they try to give themselves the best chance to deliver news first, were they incompetent or were they complicit?
The fact the price drop is caused by this aggressive action rather than any actual bad news, should be an opportunity, and with the very plausible scenario that the OO was delayed to enable them to deliver something to make this attractive, this should present an opportunity
Only a theory, but did seem strange the way it was aggressively being sold (if they were shorting and were going to offer money at a big discount they wouldn’t care too much about the way they took the shorts). A genuine large seller would not have unloaded in quite so obvious a manner - would make no sense to draw attention to your selling, certainly wouldn’t do it in persistent round number blocks, even on days when there wasn’t much buying pressure
you may of just answered my question.
If that's what happened that absolutely stinks.
does anyone know if there's any way the placing shares could of been forward sold?
Otherwise current share price is pants for those that participated in the placing.
Unfortunately I very much suspect that the constant selling of larger amounts prior to the placing news dropping was placees opening shorts that they then settled with shares from the placing- they may even have approached NUOG, knowing it was short of cash and offered it money, but at a big discount. Selling action just before placing news looked suspicious, lots of round number sells
Yes I do believe in the company and its prospects. The fact the price is down and AIM theatrics and placing has struck us doesnt take that away. And it doesnt mean that anyone talking negatively is correct and thoae sharing research on the prospect is wrong. As i have said many times, we are still in the development phase as much as we all wanted to be in the delivery phase by now.
Where is this flipping of shares by placees?? I cant believe the placees have been selling them at a loss? So I don't buy this theory that the delay in open offer is screwing investors. I am not saying the placing and OO has been handled particularly well. The screwing over was in the short and discount offer of the placing, not in holding back the OO. Of course its possible that the open offer was held back to enable them to time it so that newsflow makes it attractive to shareholders... but we will have to wait a couple of weeks to find out.
I suspect they both still genuinely believe in the company and it’s prospects - you tend to get that with some longer term holders in any company, and sometimes their faith is proven to be correct, but unfortunately on AIM there are more occasions when it is ill-founded. I know some here think that anyone posting negatively, as I have been for the past couple of years on this company (and as far back as 2010), were trying to buy in cheaper or were short (if I’m shorting something I’ll happily say that I am, in the same way as I do if I hold a long position. But some of us have been around a while and seen Minty’s games in the past, and we’re genuinely trying to urge people to be cautious and not get carried away by some of the shameless ramping, claims of inside info (including illegal hints by supposed insiders both here and on private groups), etc. They’ve even managed to screw investors by separating the placing from the open offer - gave placees a chance to flip and suspect why wouldn’t have got that fundraising away if they’d done both together.
There is a suggestion that S Star is Naughty Lion on twitter. Pal of Kevjow and maybe one and the same.
So good luck with that
Sadly that may still prove to be the case, Roy, although I sincerely hope they aren't continuing to kick people while they are down...that would be the scummiest of the scummy scummiest.....
Cobra, with respect I’d go with the latter. Time and again this company has disappointed by clutching defeat from the jaws of victory while peddling lies and promises of panacea to those daft enough to listen. Yes, I am still invested but that’s through stubbornness (and to make my legal case stronger) rather than any sense of hope.
Although I hate the information hierarchy this company seems to attract, I'm assuming and hoping Sharelock and that naughty shiny star know something most of us don't. Neither of them are stupid and it seems odd they are both so posiitve at a point of apparent crisis....they could of course just be pushing personal agendas but let's hope there's finally some substance behind the positivity....
Sharelock I have to say I really admire your commitment and positivity here.
Sharelock
You are a believer and are welcome to that.
Nordic Trustee represents the Norwegian bondholders and acts on their behalf and there is mortgage security in place which means at the moment, right now, Nordic Trustee is effectively the owner of the vessel . That will change with the new English bonds. The complexity of tax haven entities is beyond public scrutiny by design.
I do not recall the Brazil "asset" was still in play, just the Brazil opportunity, which could mean anything or nothing.