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"What UKOG is up against"
The truth?
Nominal amount of £300,000 == 3billion shares.
motley fool, don't read the trash the print.
If peoples memory's weren't so short this rag would have died years back. motley fool run by fools.
sorry looking at wrong column.
Even motley fool says our assets are worth just under 70 million. then you have cash at bank. So why is our MC 46 million?????
0hmetoe
I think Mr Chester is short on UKOG.
https://www.fool.co.uk/investing/2020/02/24/could-the-ukog-share-price-now-be-the-bargain-of-the-decade/
Suggest you guys read the board more. It was literally discussed late last night and about 5 times over the past week. Its to do with the nominal price of the share, not the share price. thankfully it doesn't mean they will use it, just that they have it available if needed.
Wizard
I have been looking for this myself ,where is this extra 3 billion shares coming from .Where does it say another 3 billion ??
UKOG are up against an massice wall of OIL down a very long hole.
In the oil industry this is actually a very good thing :-)
They will be converting that wall of oil in many many £££££'s soon..... once they fix the hole this week!
GLA
The figure resolved it the general meeting was a extra £300,000 before the general meeting this is about 43 million shares like a YA conversation where does the 3 billion shares come from?
@argus1 That is irrelevant to wizard125's post. Only the nominal value is relevant to the number of shares that can be issued.
3 billion shares @ 0.80p = £24,000,000
3 billion shares @ 0.70p = £21,000,000
nominal price of shares is 0.01 p.
£300,000 == 3billion shares.
Resolutions at the General Meeting
Resolution 1 – Directors’ Authority to Allot Shares
This is an ordinary resolution to grant the Directors with the authority to allot and issue shares
and grant rights to subscribe for shares in the Company for the purposes of Section 551 of the
Act up to the maximum aggregate nominal amount of £300,000. This resolution replaces any
existing authorities to issue shares in the Company and the authority under this resolution will
expire at the conclusion of the next annual general meeting of the Company.
Resolution 2 – Disapplication of Pre-emption Rights
Resolution 2 proposes to dis-apply the statutory rights of pre-emption in respect of the
allotment of equity securities for cash under Section 561(1) of the Act. This is a special
resolution authorising the Directors to issue equity securities as continuing authority up to an
aggregate nominal amount of £300,000 for cash on a non pre-emptive basis pursuant to the
authority conferred by Resolution 1 above.
The authority granted by this Resolution will expire at the conclusion of next annual general
meeting of the Company.
These were the resolutions from the general meeting & they last until the next AGM at the end of March \ beginning of April this year.
Where is the authority to issue an extra 3 billion shares?
Where
In my own opinion I will see any down side other than caused by bad news from hh2z as a buying opportunity but if the down trend is caused by a weakness in oil prices then it will need time to recover again do your own research and good luck
There been turmoil all around the global markets no one is totally immune from these turbulent times so be prepared to brace yourself for any unexpected downsides and only invest money you don't urgently need I'm sure the storm will pass soon and markets will once again stabilize it all takes time some good news will help ukog but expect the unexpected you been warned
Just because you don't want to hear it.
Motley fool lies like this.
With no reserve-based valuation available to me, and no reserve-based lending available to the company, the risk to shareholders of further dilution — and to my 0.63p a share valuation — is significant. Indeed, I view it as ominous that the company has recently sought (and gained) authority to issue up to 3bn new shares.