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Grate shame this company !! I have Been invested over 3 years paying bods wages , losses , no news or clarity wish I was a fly on the wall .. brexit bettered me 3 years ago after referendum.. omg I sound depressed lol
As I said earlier on today: "I'd imagine they're not in a position to announce the deals that the CEO told us he'd been working until they can be sure they have the funding available to conclude them."
You say no news. We've been told that the CEO was working on 3 deals before he became CEO, is aiming to close those deals. We were then told in an RNS that they wish to have authority to issue more shares so that they have the liquidity to close deals quickly. Both of those are news. If it's news of an actual deal you want, I do think we'll need to wait until they have the funding behind them, which probably means nothing until after 30th September when the EGM has taken place.
i actually agree with slowly slowly
they can't announce deals they are not in a position to buy - so need funds first
its a huge gamble on what might happen
@gilo - presumably you think Peel Hunt and Zark have been conned, too, then?
Peel Hunt, I believe, are a registered market maker, yes. However, after taking the Sheikh's shares off him, they proceeded to release two more updates indicating they'd increased their holding. They appear to have deliberately accumulated rather than got stuck with what they've currently got. I may be wrong here, but if they were holding their position as market makers for the short-term, I believe they'd normally return a TR-2 form to declare them, which is then not made public. The fact they issued a TR-1 (if I'm right on this detail) also suggests that it's an investment they're holding for the time-being.
I've no idea about Zark. As far as I know, they're not registered market makers; none of their staff have this listed in their FCA registered activities. What's more, they weren't left holding any shares because they've bought them off someone who wanted to sell and then got stuck holding the shares. They've just taken part in a placing at 7p that means that, as of this morning, they hold 7.18% of the company. As a placing, that was entirely voluntary on their part.
May I refer the honourable gentleman to the answer I gave earlier. (13.58 today)
And to the question I asked earlier (14.35 today).
[This is going round in circles now. Lots of us are very bruised here, I grant that, but there's certainly nought to be gained with a circular conversation, so I'll step out of this convo until it takes a new turn.]
Changing the subject as gilogilo is getting rather tiring now I see PEEL have just increased holding to 19.24% - RNS just out...
Yes, just noticed that.
Someone told us last week that they were always there in the background to buy the dips if the bid dropped below 6p. So I was hoping we'd get a TR1 (sic.) pop up from Peel Hunt again. It's good to have them back on our radar.
The question is: What are they doing, and how does their investment in the company relate to that by Zark Capital? Two interested parties in one company? There has to be a link somewhere.
They seem to have based their latest TR1 off the number of shares in issue before today. We may get another TR1 from them in a couple of days time because their percentage will drop now that Zark's placed shares are in the market, even if the number of shares they hold doesn't change.
[removes plum]
I'm still actually invested, yes. Average was 24p.
Yes, I'm fed up that the sheikh stormed off and the price crashed.
However, I'm actually of the view that things are not so bad around here. Cut out, for the moment, the chunk of time when the sheikh invested and the price had a little season well above its current level. If that never happened, how do things now compare to how they were before the sheikh put his chunk in? Well, the price is similar, but we have the money that the sheikh invested still in the business. We have a new CEO, who tells us he's working on some deals to expand ADME's operation. We're still here, and with one more lifting will have paid off our investment in Aje. Meanwhile, we have two new investors (PH and ZC), one of whom is willing to put new money in at a premium to what they could get on the open market. So we're not doing as well as we might have if the sentiment attached to the sheikh had worked out, but we're a lot better off than we were before that sorry episode. And, I dare to say, Zark and Peel may prove to be better sources of funding than the sheikh, depending on what strings might have been attached to the sheikh's financial help (we'll never know).
[reinserts plum]
Well said slowlyslowly - from another REAL investor lol
And don't forget the Chinese still have a c30% holding
None of the 3 large shareholders (counting the Chinese as 1) seems keen to tell us why they're here. The Chinese are, i think, sitting on large losses and Peel Hunt are still accumulating, which must be good news
Strange that the Sheik should invest here, become honorary Chairman, change the name of the Company, give an interview declaring his intention to make this a one billion company and then disappear
Will we ever know?
Dilution more like diarear lution lol , fake news real news is over due , we need a lift maybe 50p by Christmas, brexit boriss we need some good old fashioned strong news the bod knows !!
Peel Hunt have increased, then decreased and increased again
still for me seems they are the ones doing the trading, looks like they are picking anything up under 6p but offloading anything over 6.5p (last week) there strategy i very much doubt is for long term hold but we will see
don't understand that one trade at 5.3p (650 shares)
On the day we learnt of the sheikh's sale, it fell to about 6.5p, not 4p. Peel Hunt announced they were holding a chunk a few days later, acquired that day, so we conclude they were on the other end of the sheikh's sale - they bought the lot off him for 10p, and were still left holding about half by the end of the day, which was a Thursday. Most people, myself included, assumed that they'd only managed to sell on part of his disposal, and that they'd have dumped the rest by the end of Friday. They'd have made a loss on those, but the loss would be more than covered by the profits they sold for on a Thursday. Instead, when the subsequent TR1 came out, far from selling the rest they'd bought more. They then topped up again, by a much smaller amount, a week later.
So I can't tell you why 4p is significant, because it doesn't appear to be. It was the price the sheikh bought at, but it's not come into play since.
Run out of cash by the end of October? Not likely, having just raised £1.3m
As for ADVFN - Spikey's left us here and gone to depress everyone over there. Say no more.
The thing on PEEL is , they bought the shares at 8.07am at 10p, they had a full day in which from the TR1 they offloaded 6m shares at between 12p & 16p - they never informed the market straight away - this for me is the real suspect about the transactions with Peel
They likely were the ones who bought at the 4p on the bell increasing the number of shares by circa 2m in the last month
OK - I now see the 4.5p at 8am on Friday 23rd. Thanks for the link.
What do you mean by "removed via dilution". How would Peel Hunt buying the Sheikh's shares at 10p actually remove funds from the company's balance sheet. The only way to do that, surely, would be by paying dividends or a share buyback. I understand the concept of dilution when new shares are placed at a discount. But there was no placing on 23rd August. So what kind of "dilution" is this that actually transfers the £534k that the sheikh invested from the company to another entity?
I'd still like you to explain your "removed via dilution". The sheikh selling his shares wouldn't remove his equity from the company unless the company bought his shares back. That would be a share buyback and would have to be announced.
I'm sorry, thought but this is incorrect. On the day his withdrawal was announced, we were told that "the Company has today been informed that His Highness has, or shortly will have, disposed of all of his shareholding in the Company, comprising 13,350,000 ordinary shares, through the market." That suggests he still held the full 13,350,000 he originally purchased.
Furthermore, those 13.35m shares represented 26.89% of the company. If he'd dropped below 26% at any point he'd have had to issue a TR1 to say so. That's 12,908,144 shares. This means that, if he sold more than 441,856 shares, he'd have had to tell the company who'd have had to tell the market. So we know for two reasons that he held the whole lot until the end.
He did make a profit. He bought at 4p and sold at 10p. But no money left the company as he did so.
If his motives had been to make a quick profit and move on (if it had been a scam from the outset, in other words), then he'd have sold some when it was 30p+ or at least 20p+. The fact he ended up selling when it had already dropped to 12p says that this was not his aim. Something went wrong between him and the board. We'll never know what.
That's what he would have done if he'd been in to con us from the outset, yes.
So you believe he did that. Even though the law required him to tell the company if he sold more than 442k shares, and he didn't. Even though the notification when he sold said he still held all his shares to the last. Your view is that he broke the law by failing to declare his sales, and lied in his later public TR1 document.
You still haven't explained how him doing what you believe him to have done removed the £534k from the company's books.
Then, for me, I've nothing further to say.
There are all kinds of misbehaviour I'm prepared to believe goes on - shady and unethical practice. Sure.
But once you believe that the people involved here are so criminal that they ignore even the most rudimentary rules of the London Stock Exchange, you end up in a position where the company is a black hole. No light can escape. You have no access to information. For all you know, the sheikh still holds, and his departure was also a lie. Maybe he never bought in the first place. And so on. Once you believe that's how the system works, you will not believe any information released by the company, its brokers, its nomad, or the exchange itself.
Without data on which to base your research, or on which to base this conversation, there isn't even a debate to be had. You're left with nihilism.
I'm truly sorry that this is the point you're in. Truly. But rational debate about the merits or demerits of any company becomes impossible if there are no axioms, rules or input data to discuss.
{/thread}
Slowlyslowly - happy to be holding here along with PEEL and Zark capital to see this head back up for the real returns unlike deluded gilogilo who obviously has a very high average if they are still even holding.
It's been quite interesting the read on here today.
For me I'm just going to hold and average down a little. But also I think I'll be investing in a different type of oil now.
Warren Buffet's long time favourite: Coca cola.
The surge in price since the credit crash has been phenomenal.
I'm also nursing a big paper loss. However I can see a huge potential with the new oil investments when they come. I hope the company will change the name so we can all forget about the dodgy Sheikh))
Thing is, I don’t believe Peel have a big problem, they took 13m shares at 10p and flogged over 6m at between 12p and 16p,
So they spent 1.3m, and probably sold that infamous day 850k worth and still held circa 7m shares at c450k, they were the ones buying at 4-5p and bought c2m, say 90k in price, they have done some selling and buying inbetween but they have over 9m shares at probably no more than 550k and that’s working on averages, day sheikh sold there was a lot more trades at over 14p than below
Gilo how can you possibly be still holding when almost every post of yours contains such negative content and expletives along with claims of "fraud" and "con" and now we have you discussing PEEL's exit strategy ffs??!!!
Perhaps you should be considering your own exit strategy if that's what you really think?!!
I get that you are pee'd off having a much higher average than some of us but surely if you still hold you'd be glad of any positivity here and potential for this to still succeed? Or perhaps investing in higher risk plays with potentially high rewards just isn't for you?