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Sorry I may have misunderstood but what is the relevance of getting the sp from 2p to 70p Jez ?
No, we're not joined at the hip. Joined by the fritter, more like!
And there's nothing wrong about living above a chip shop. The snootiness of some posters on here is astounding. If you saw the panoramic view of the car park from where STZ licks the window, you'd probably agree.
Livin' the dream.
Mr Jez, you appear a little confused. The 70p share options are residual from the arrival of Mr S. at Sound as OGIF behest. That was about 3 years ago when the Sound share price was nearer 70p. The price of the options has no relevance to be current share price. If options were awarded today they would be nearer a 2p strike price. There will be no consolidation.
Siamese twins?
KTF,
Believe what you want to believe on this bb, or not as the case may be. I'd love to see the expression on your face if / when you meet me and my twin brother. I can assure you, that I have a twin brother, Simon. I still can't believe people on here are questioning this.
Not2Sure - you may recall I used to be invested in that dog of a share, 88E? I got out when the going was just about good enough with a small profit. Never again. They are running out of money fast and seem to sniff out dusters faster than SOU does. They never seem to get any luck and I suspect the bad luck to continue until a delisting off AIM.
Both of you ought to be discussing the likelihood of a share consolidation happening here. Am I the only one who has worked that out? Seems so. Ask yourselves how you're going to get from sub 2p to 70p? I'll give you a clue: not by the share price 35-bagging! Even Herr Krudenhoffe would class that as obsessive ramping.
JTF
really don't understand why people buy into that idiot's fantasy back story.
he/she does not live above a chip shop.
there is no brother.
there is no ebay selling job/hobby
it's all complete bull ****
Perhaps you should pop over to the 88E board where they have been issuing shares like confetti for years and now have something like 7 billion in circulation ..perhaps they are more of a candidate for consolidation..by contrast to many we still have a bit of headroom for a few more rounds of fund raises lol
Levelup - I can't see how you can even entertain the share price 35-bagging here when all you really need to do is look at the past and read the recent RNS's. Pockets are being lined and it ain't the PI's. It seems that the last bit of cash is being swilled around in the money trough before the proverbial hits the fan. As I said earlier, I'm not sure which one of us is the most deluded: me with my attempts at explaining share price consolidation, or you with your 35 baggers? It will be interesting to see if any of us are right with our assumptions. You must agree though, that share consolidation does look likely here?
Jez I actually refrained from mocking your inability to muster up some common sense but now wish I hadn’t.
Like I said if we discover more gas. I think people forget how big the numbers actually are & how valuable a TCF of gas is. Numbers you won’t see selling tat on eBay.
Mr Pontcanna, " Makes me laugh when I point out the facts and no recommends but when SO agrees but then throws some criticism in on another poster he gets 4 so far ! What does that say about certain people on here ? Hey ho"!
I know how you feel. I posted a cracking joke on this board on 12th May 2015 at 3.34pm and after all these years nobody has had the courtesy to recommend it.
Mr Jez, were you trying to " understand how share price consolidation work" or trying to undermine the share price? You're a naughty boy.
And what is there to say about my window licking, thick as mince twin brother who should have stayed at the call centre, rather than attempt to sound technical about share price consolidations? He mistakenly followed my lead to reinforce a point that I made that was glaring with rookie errors. You couldn't make it up and hence why we are known as The Chuckle Brothers. #tometoyou
I don't know what is more worrying: my feeble attempt at trying to understand how share price consolidation works, or Levelup's supposition that the share price will '35-bag' if SOU should find a bit of gas.
Sorry, I meant 1:10 consolidation. I was getting the share price mixed-up with the number of shares in circulation. Either way you look at it, I think there will be a consolidation. I am just not very good at explaining it! Apologies.
Jizzy
70p seems a long way away but saying that all it takes is a bit of momentum with one or two decent drill results.
Jez deal or no deal , consolidation or not one thing is for sure if you think Mr Seghiri will personally benefit from his options by actioning a consolidation to a price above his option price you really have lost the plot or is that just a Director perk lol that I have been unaware of ..if it applies to all shareholders I might just go and dust off some of those old share certificates , probably worth a fortune !! I thought you were a bit barmy now I know you are ..no offence really but you might want to go and check that one out
Correct Pontcanna. Options are adjusted for share consolidations. As an example, a 70p strike price would be adjusted to £21 in a 30-1 consolidation. What a lot of poor, wasted words!
When my window licking deep fat frying Chuckle Brother reliably informed me of the 70p per share sentence (after returning home from my 12 hour shift at the call centre), I have to say that I was both disgusted and shocked. It seems that the only people who are going to profit from anything here is after the 50-1 consolidation has happened imo. Once Parsons and anybody else receives their severance, this company will be de listed and re listed on the Casablanca Exchange. The rest of you will have to write off any investments you have in this imo. Should have cut your losses and recouped in EUA.
Depends on whether Parsnips was a ‘good leaver’ or ‘bad leaver’.
The 1.5 years salary thing applies when there is a ‘change of control’ which hasn’t happened yet.
Others who have have left with wheelbarrow/suitcase of golden tickets.
And now that Parsons has stepped down from his CEO role, isn't he entitled to a severance payment commensurate with what was stipulated in the Clause that made reference to this? I believe it was 1.5 years of his salary? Somebody can drag-up the Clause and post it on here if people want to see if for their own eyes. The same too applies for JJ who may have been offered a pay-off in cash. It appears that BM only was offered his pay-off in the form of shares as they didn't have enough cash left to settle his fee. The RNS states that it was to conserve cash for the company.
People can now digest what I have said, **** me off as they usually do, call me names and then when they have had enough of doing that, can have a sensible debate about some of the themes I have raised in my thoughts of today.
Levelup,
Whether there is a deal or not, my attention has been focused on a sentence that was contained in the most recent RNS, which is as follows:
"Mr. Seghiri holds 1.5 million options to subscribe for new ordinary shares in the Company at a price of 70 pence per new ordinary share, with a vesting date of 18 January 2020 and an expiry date on 18 January 2022."
When you take into consideration how many shares there are in circulation and obviously the current share price, then doesn't this surely point towards an imminent share price consolidation and possibly an equity raise to go along with this at the same time?
Taken from the 18th December RNS:
"Following the issue of the new Ordinary Shares in respect of the Placing and in lieu of fees, the Company's issued share capital will consist of 1,156,037,264 Ordinary Shares. Each share has one voting right and no shares are held in treasury. These figures may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules."
Now...to get the current share price up to around the 70p mark, the price would need to increase by circa 35 times. Does this then point towards a potential share price consolidation of say 40:1 or even 50:1? I say this because usually when there are share price consolidations, the people benefitting from them, usually from their outset, tend to be at a price where they are at least at the same level as the new consolidated share price.
Sure, should there be a deal and there is a gas discovery, then it is fair to say the share price could rise from say it's newly consolidated level at circa 70p up to over £1 by say 2022. Hence 2022, which may mean that there may not be a huge amount of drilling taking place this year if at all and instead drill results could be not until 2021 at the earliest.
So, what do I think? I think right now there are too many shares in circulation and they will want to reduce the number of shares on the register via a share price consolidation exercise of say 40:1 or even 50:1. Secondly, money could be raised soon after / at the same time as the share price consolidation for running / operational costs. Why not? If the number of shares is being consolidated down, then issuing another block of them at a slightly future date won't be too catastrophic.
The money that SOU will get from any deal, assuming there is one will probably mostly go towards paying MF i.e. the debt owing to him. At which point, he will step aside as 'Acting Chairman' and take more of a backseat position. The debt is currently against Sidi, but I can still see the money from any deal going straight to Marco. I therefore don't believe there will be any special dividend for shareholders.
continued on next page...
During the exclusivity period if the buyer was to pull out or not meet said milestones would it have to be RNS’d straight away or would both parties wait until the 14th?
The share price & recent fund raise would suggest the deal won’t go through but seems somewhat disingenuous if they already know but wait until the exclusivity period is over.
I’ve always been of the opinion that no news is good news as the days count down to the 14th but with then share price so low & with Sound having history of being a leaky ship it is concerning.
Any price sensitive news needs to be RNS’d but would the ’exclusivity period’ negate that...