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any news re OBT anyone?
Today - looks like good news as will be invested in new machinery which will continue the slow rise in profits.
Notice of General Meeting
Obtala, the African focused forestry and timber trading company, announces that it will today be posting a circular to shareholders comprising a notice of General Meeting (the "Notice") to be held at 118 Piccadilly, London W1J 7NW on Wednesday 20 March 2019 at 10:00 am.
The purpose of the General Meeting is to seek shareholder approval to change the name of the Company to Woodbois Limited as proposed in the announcement of 30 October 2018. With the Company's strategy now focused on building a best in class African forestry and timber trading platform, this will bring the group under the banner of the stronger and more recognised Woodbois brand.
The General Meeting will also seek shareholder approval to an increase in the Directors' authority to allot equity securities following on from the issue of new ordinary shares and grant of warrants to Volantis and deferred consideration shares for the Montara Continental Consolidation as per the announcement of 10 January 2019 and the resulting dilution of the conversion ratio of the Argento Preference shares announced on 1 December 2016. 75,000 Preference shares were issued by Argento Ltd, Obtala's wholly owned forestry subsidiary with the option, at the Preference shareholder's choice, of converting into either Argento Limited ordinary shares on a 1-for-1 basis or into Obtala Limited ordinary shares on a 1-for-1,435 basis. The conversion ratio is currently on a 1-for-2,275 basis.
The full text of the Notice will be available on the Company's website at www.obtala.com later today.
For someone who claims such brilliance, your BIOM buy wasn`t exactly perfect timing was it. I`m surprised you bought a stock that has not long ago broke a rising trend thats been in place since Apr `17!!
You were hoping for support around 445p and price is now 388p!
You didn`t wait for the old adage..`the trend is your friend until the bend in the end`!! Upside down!!
So you tried to catch a falling knife!
Even though I check out these discussions on LSE I don`t make my decisions on someone`s views which are clearly affected by previous `connections` with the likes of TW.
You may have been sucked in and burnt by TW in the past, but I prefer to make my own decisions on the company announcements, not make those decisions because of previously damaged followers who finally realised they were being duped.
I doubled my money previously on this stock and sold half, so any free carry I had was easy to play with.
I`ve moved on and traded plenty since I sold OBT.
Suggest you do the same and stop trying to claim some higher ground of brilliance just because you called one sell decision right.
Its time to stop celebrating your genius..patting yourself on the back and all that.
I certainly won`t be following you for tips in the future.
Unless you`d care to share some nailed on no brainers of course?
Ecowarrior? It sounds like you are confusing me with the poster called 'ethical' who was probably the ecowarrior that you refer to. That wasn't me so you were wrong about that. My reasons for warning people away from this stock were quite different if you ever wanted to look back although I have never approved of destroying African hardwood forests..
Obsession to hate TW? Hardly. Look at the stocks he tips and note which ones also pay to attend his shows. You will see that so many of them are utter dogs it would be embarrassing most people. Obtala pays to attend his shows and duly receives the positive ramping from TW. Amongst other factors, this is a glaring red flag. Pointing this out is hardly an obsession of hate. You're are wrong again so I guess that keeps your 100% wrong record intact.
I note that you eventually sold OBT and agree with your reasons. It's a pity you left it until after the SP collapsed don't you think? I did try to warn you - but you just abused me. There's something quite Darwinian in that.
I gave you abuse because you were singing the ecowarrior save the forests..song!
And I didn`t sell because of your obsession to hate TW either.
I sold because of the increasingly confusing RNS`s of jiggery pokery regarding funding and who owns what % of what part of the company...and the stagnant share price...amoungst other reasons.
Miles Pelham has only his interests at heart here, and that became too obvious, so my funds are tucked away in better prospects.
I still watch from a distance.
Totally agree with you barwickman. Too many of the stocks TW pumps over at sharemuppets turn out to be dogs. Too many also exhibit at his shows. Hmmm.
It seems that even the die-hard OBT disciples are beginning to see the light now. I called BS on this stock 18 months ago and got a lot of abuse from the likes of bottmzup, etc.
AIM is a cesspit guys. You have to be really confident you know what you're doing before investing in AIM. There are too many CEO's, bloggers and messageboard pumpers out to rip you off (the cheeleaders over at VAST had me banned for telling the truth about that stock).
There are well-run, profitable and transparently managed AIM stocks out there but this isn't one of them
Can’t take this share serious with TW pushing it , not for me GLA u might need it
You`re right, and my opinion has been forming for about 8 years!
Thankfully I had the guts to sell half my holding that I had accumulated at an average of 8p, sold at 16p, so what I had left was a free carry.
I sold them at c11p and was stupid enough to still believe the hype when I bought back using some of the funds, at bout 9p, and then got rid at 6p.
I got sick of listening to the hype and churn of parts of the business failing forcing selling off cheap like the disposal of African Home Stores, and lately agriculture which they threw much time, effort and money at...other peoples money!
They might finally have simplified the company enough with timber to actually turn over increased revenue, but the financial structure of the company is so complicated that the long term PI`s will be last to be considered, and will just keep getting fed bs by MP!
Revenue is vanity, profit is sanity, and cash is reality.....and this mob have been operating on other peoples money for far too long.
Significant cash net profit is still a long way off, so they won`t be using my money any more and it feels good to not see OBT in my portfolio anymore...I`m no longer a mug!
Well everyone is entitled to their own opinion. Seems to me you were extremely bullish months ago and ended up selling just about close to the bottom. Anyone who bought near the bottom would of made a nice 30-40%. I know I did. Profits running as I think this has more legs in time. Atb
The fund that invested is called 1798 Volantis Fund Ltd, managed on a discretionary basis by Lombard Odier Asset Management Group, so a separate fund with limited (Ltd) legal exposure to Lombard if OBT go tits up!
Todays RNS`s are having a blistering effect I see. Another `to give to you to give to me` shuffle of shares so as to baffle the market again as to what the f**k is going on! There must be some dodgy background reason for this latest complicated and baffling deal....why would Paul Dolan enter in to such a deal whereby the shares are held in trust by MP until PD pays for them, then he has to hold them for 5 years ...bla bla bla! Why doesn`t he just buy the shares in the open market, the per share price of this is only fractionally below todays price anyway so sure he could build a stake that he would have full control over if he wanted.
I notice the word `loan` in there somewhere too, but no idea who`s lending how much to whom!
Investors are thin on the ground here because everything they say seems to add to a big background scheme that they`re keeping to themselves and therefore must be detrimental to shareholders in the long run.
42trader, you say the Volantis Fund (Lombard) investment is a positive but ask yourself why it had virtually zero effect in the market, I`ve seen plenty of Company`s announcing further investment by an existing II and the shares sell like hotcakes because of the optimism implications, so why not here?
Miles Pelham is a shrewd operator, but I doubt whether he is fully committed to using that shrewdness to benefit shareholders, more likely scratching the backs of his fellow fundie fat cats...thats the perception so it seems.
If you mean pi trades by “the market” then yes you are right. On the other hand, if you mean ii trades then the buys by Lombard clearly far out weighs the pi’s trades.
Sorry 42trader, but it looks like I`m right!
They come out with updates about `funding`, if you can actually work out who`s funding who...then come out with `another` so called optimistic forward looking quarterly update, one of many, and the market is flatter than a Theresa May brexit deal!
Where`s the evidence for my observation that the market is not impressed with these updates being wrong?
The price went up by 1p on the funding RNS, wow, and went down on the day of the Q4 update...on pitiful volume!!
If you think that equates to the market being impressed then I don`t know what dimension you live in.
£40k`s worth of shares changed hands in the last 4 days since these updates, and half of those were probably sells!
A little reality check needed me thinks.
Sorry Bottmzup, looks like your wrong. Going from 0%holding to 12% by Lombard is pretty big vote of confidence. I understand your mistrust but for anyone buying from 5p to current price this looks like a share you could get a multiple return from.
It looks like Lombard Odier are convinced .....
This Company is too complicated.
Has anyone tried to get their head around the funding RNS last Thurs? Its like a game of poker played by a clutch of magicians, they buy a % of this, you buy a % of that, you lend A a chunk of cash who then invests it in B but governed by certain conditions, then we buy remaining % of C who happens to be owned by D who is solely owned by the previous Head of Forestry in Mozambique!
And thats without a mention of the Argento Preference Shares which Miles Pelham has been investing multi £m`s in!
Reminds me of the Laurel and Hardy movie with the line(s) `to give to you, to give to me, to give to her, to give to him`!
It seems like Miles Pelham is not being believed to be telling all, by the market. He does come across as far too slick with his smarmy look, slicked back hair and his expensive suit which can alienate some from investing here....he looks like he`s running a hedge fund rather than a serious Timber and Agriculture operation in Africa...maybe a safari suit, with mud on!
He tops it off with terminology like `kicking goals`! Which sounds like the sort of sound bite a poorly advised Politician would use, or a teenage girl playing `soccer` in Tallahassee Fla.....we say `scoring goals` in the football world Miles, just in case you were trying to appeal to a fashionable large audience!
Also not going unnoticed was the opening paragraph of Thursdays RNS which included the very cautious line.....
.....`is pleased to announce that it has entered into a set of agreements which the Board believes should positively impact both the Group's balance sheet and underlying business structure`
Note the word `should`, change that to `will` and it would have been more believable.
Ultimately new investors looking to get in to the fast growing African continent will probably just look for another route with a less complicated road map, because this one smells too risky, financially.
What is interesting to me is the huge increase of urbanisation in Africa and the huge Chinese involvement. good for Obtala. I think a takeover is some way off if they want to maximise the sale price?
All looking good and progressing well.
Money getting spent on the parts of the business that will produce the greatest profit which has started to show by increase in revenues from $8.4m to $13.5m.
Revenues and profits are only going to increase this coming year as loss making parts of the company are sold off and investment and cost reductions are made to the profit making sides.
Did anyone see that comment crossed out about only being at 80% production? So room for another 20%.
Yep, all looking good for 2019.
Wouldn't be surprised if if this company was bought out!
So is that 3 looking to buy from us and three looking to sell to us, yeah?
And now 3 in 3 :)
Things looking good and progress being made. Slowly but surely things going the right way and 2019 will see further progress. I am happy to remain a long term holder although sitting on a hefty loss?
What is L2 looking like this afternoon? It looks like the mm's have been filling larger orders!