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11:42
HL have always confirmed voting activity has happened so I trust it does :-)
Thanks Brombarb, contacted my broker who sent encrypted email which I replied to with voting instruction as per request. It said they would vote for me.
I have no idea if they will or how they will vote so not a great service imo
Thank you Brombarb,I knew I'd seen it somewhere. I still think it will be raised but if no decision can be made that's fine for another year.
13:41
"In other corporate initiatives, 88 Energy’s Board will consider in the new year whether a share
consolidation in 2024 is in the best interests of shareholders, and if 88 Energy decides to undertake
a share consolidation, shareholders will be able to vote on this at the 2024 AGM. "
https://clients3.weblink.com.au/pdf/88E/02756244.pdf
As there is no resolution for same at AGM looks as if shelved for a while.
From munnietorx 'is it the full stops that are dramatic, or the extra circa 4 billion shares from the capital raise hitting the market at 8am that is dramatic'
Where is the mention of them doing this 👀
They will have made an investment case to the placees. Whether they hold the shares after the placing is complete or not is entirely up to them.
When people write stuff like '4b shares hitting at 8am' they are just not understanding how it all works. SP is what it is and every selling decision is made for a myriad of potential reasons, just like holding or buying.
I cant imagine the sophisticated being happy with a drop so soon after the raise, which might be why they were selling before they even had them in their hands imo
Wasn't there a shout yesterday about circa 4B shares hitting at 8am and watch the drop? Didn't happen. Unless sharebell was right and they had sold them already ;)
11:57
Conventional wisdom suggests that unless you can consolidate on sustained good news the share price will falter after a consolidation because the market generally takes a negative view on share consolidations.
If people are pro the idea of a consolidation because it will mean the negative posts here about the number of shares in circulation will cease then wait for the harbingers of doom because we have consolidated. :-)
Skippy, that was always my thoughts, however it has been pointed out many times to me that this is a simplistic view. You may consolidate 1/1000 but the share price rarely matches the multiplication. I personally dont care if we reach 50B or more if the company turns a corner.
I don't understand where this narrative that SP consolidation makes any difference to your holding. You end up with fewer shares in hand but the overall value of the shares will be the same. So it really isnt important and would be a complete waste of company time right now.
BromBarb, thanks for the instructions, I have contacted my broker to ask how to vote on the resolutions. I hope that they will send a form or make it as simple as possible.
As for consolidation, without trolling through multiple posts I am sure that AG said they would discuss it at the AGM as a number of people had raised it with them. It may not be a resolution but I hope they at least reference it.
01:21
Consolidation is not on the AGM agenda ( at least as far as I can see).
https://clients3.weblink.com.au/pdf/88E/02790292.pdf
remember that voting is easy via most UK brokers (if HL is an example) , votes need to be received by 4:00PM 8th May,
so need to be with broker earlier.
No reason voters can not not just vote now.
"United Kingdom (CREST Voting Instruction)
DI Holders in CREST may transmit voting instructions by utilising the CREST voting service in
accordance with the procedures described in the CREST Manual. CREST personal members or other
CREST sponsored members, and those CREST members who have appointed a voting service
provider, should refer to their CREST sponsor or voting service provider, who will be able to take
appropriate action on their behalf.
In order for instructions made using the CREST voting service to be valid, the appropriate CREST
message (CREST Voting Instruction) must be properly authenticated in accordance with Euroclear’s
specifications and must contain the information required for such instructions, as described in the
CREST Manual (available via www.euroclear.com/CREST).
To be effective, the CREST Voting Instruction must be transmitted so as to be received by the
Company’s agent (3RA50) no later than 4:00pm (BST) on Wednesday, 8 May 2024. For this purpose,
the time of receipt will be taken to be the time (as determined by the timestamp applied to the
CREST Voting Instruction by the CREST applications host) from which the Company’s agent is able
to retrieve the CREST Voting Instruction by enquiry to CREST in "
https://clients3.weblink.com.au/pdf/88E/02790292.pdf
Seems to be quite a few 5M buys sneaking in last few days someone building up at these prices
I think that gives us 28.9B shares, not quite the 100B mentioned on here, fully funded for more than 12 months, next Namibia payment paid, and income from Longhorn. All we need now is a buddy with deep pockets, for Leonis and Phoenix.
Consolidation may be next but lets do it sooner rather than later. AGM decision.