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Started: ripley94, 27 May 2022 11:49
Last post: ripley94, 24 Nov 2022 17:55
Informed of name change ( Wi ) to Beacon Energy .
Appears I bought some on 27 May 2022 for 0.14p they appear to be a little higher today .
This note below from the buy day , but did not post the trade .
Andalas Energy the former name ( Changing name again not a good look )
All info on Bar 1 for 10 Consolidation when Andalas Energy
Would mean issuing about 6 billion shares although rather have an asset and continue than nothing.
Maybe they have something lined up.
it now has no assets, so it is a cash shell but with very little cash. if the company still have no asset, or have not raised at least £6mm by 27 Nov 2022 (6 months from date), potentially delisting is on the cards.
"Advance Energy says it will continue to evaluate oil and gas opportunities, with an emphasis on materiality and cash flow generation in line with its strategy." - what a joke of a statement, if they issue a statement of intent, it might help. waffle of nothingness like the above means nada. (here is some wool over you eyes, woosh!)
tulip changing hands?
You got that correct micru.... Improvement .
Most a load of losers IMHO
>I see no one can be bothered to explain a CA in April last year .
Nobody here owes you anything.
Started: jonesrichard, 21 Nov 2022 11:36
Last post: jonesrichard, 21 Nov 2022 11:40
Presumably 28th is still the cut off for the completion of the RTO?
Started: Amc20, 18 Nov 2022 09:38
Last post: rooblertwo, 21 Nov 2022 09:14
Until you see the terms of the RTO nobody knows.
People who were in from years ago probably will loose out. People who got in just before suspension might do well.
The directors bought at 0.08 and I doubt they will want to see that cash disappear.
Personally I’m expecting the worst but hoping for the best.
If it’s the worst we’ll know pretty soon; but if it’s tge best, ( some sort of recovery) then I guess there’ll be ample opportunity to “ get in” or increase holdings.
I’d probably punt with a doubling of current small holdings, but that’s all.
The directors wouldn’t vote to dilute their own holdings too badly though surely?
Never works out that way I'm afraid.. There will be significant funding needed in a placing if and when the future plans are revealed.. Thus creating imo alot of dilution depending on the current sp at the time.. Then what generally happens is a consolidation of shares 100/1 later then a further raise as time trickles on then its fully funded and good to go lol.
Again all depends on what's in store and if they carry on being an exploration outfit. If they can generate income then it would avoid half of that scenario.
Could be worse though it might be a write off in the future /administration
Hope I'm wrong but from experience this usually happens.
If your a holder from pre drill days your probably chasing rainbows if you expect a good return in the next couple of years unless they strike lucky.
GL
Could presumably get an update any day now as meant to be completed by 28th November
Last post: jonesrichard, 17 Nov 2022 18:29
We should get to vote at some point before the 28th November
Yes I think it makes sense as to why bother with change of name motion if prospects fir completion if rto were remote
Indeed, looking like RTO will be completed on or before 28th November then
I don’t think they’d be bothering with doing this unless they thought it likely the RTO will get closed.
Cmon. Let's get e pickle on top of becon
All motions passed!
Started: rooblertwo, 16 Nov 2022 10:02
Last post: jonesrichard, 16 Nov 2022 16:41
Good. Let’s hear about this RTO and it’s completion tomorrow then!
Yes but if you can't attend in person how will you ask questions?
No need for questions prior agm .tomorrow bosses will appear publicly. Everything will be clear like on crystal plate. Just look in their eyes they are not lieing.
Has anyone sent in any questions for the AGM? Not seen the dial in details yet either.
Started: rooblertwo, 14 Nov 2022 08:57
Last post: jonesrichard, 14 Nov 2022 20:35
Please enlighten anyone that way not be familiar with the RTO process then, will the vote need to be this week or will it more likely be post 28th November? Thanks
Hmm, extending extending very funny. Of course if it's not your own money.
How some many invested here do not know the process of an RTO
Last post: jonesrichard, 12 Nov 2022 15:17
So if vote required that could mean that to get everything sorted to recommence trading on 28/29 November a prospectus will need to be this week presumably?
Taken from previous RNS:
issue of a new AIM Admission Document that would set out details of the Potential Acquisition and convene a General Meeting of the Company to obtain shareholder approval for the Potential Acquisition.
I wonder if they could use the AGM on the 17th to do this or if they need to convene a new general meeting
If the parties were far apart, I don't think exclusivity would have been extended.
Can't see they have deal. I think after name change to becon they will announce that they don't have deal and will go in suspension again. We still need to vote. No idea how many days there should be for announcing voting and for vote itself and should it be done till end of exclusivity period.
Started: SeagullsFan, 31 Oct 2022 07:08
Last post: HeresHopin, 10 Nov 2022 21:06
Anyone attending the AGM?
If you look at what happened at Leed Resources.
You will find that they will be suspended if no deal within six months of the may date.
If after a further six months that will be delisted. Although shareholders will still hold them but have a very difficult time trying to trade them.
Hope a deal is reached by the November deadline.
The shares do not get cancelled if the deal is not completed by May 27 2023, they will be suspended from trading until the BOD can find another deal. Take BOU as an example, came back with a deal and became CIZ.
Shares will only be totally cancelled if the co is liquidated
Just have to hope that this RTO is completed then on or before 28 November!
No trading will not resume.
Only when a deal is done.
If no deal done before May 27th the shares will be cancelled.
Started: Hms687, 31 Oct 2022 08:59
Last post: Hms687, 31 Oct 2022 08:59
31 October 2022
Advance Energy plc
("Advance Energy" or the "Company")
Exclusivity Extension
Advance Energy plc (AIM:ADV), the energy company seeking growth through acquisition or farm-in to interests in discovered upstream projects, announces, further to the Company's announcement of 9 September 2022 regarding the non-binding Heads of Terms in respect of the potential acquisition of a European oil and gas company ("HoT) (the "Potential Acquisition"), that the previously agreed exclusivity period has been extended from 29 October 2022 to 28 November 2022.
The parties continue to work diligently towards concluding a definitive agreement and the Company will provide further updates in due course.
It is noted that the Potential Acquisition would be considered a reverse transaction under the AIM Rules for Companies ("AIM Rules") and is therefore subject, inter alia, to the issue of a new AIM Admission Document that would set out details of the Potential Acquisition and convene a General Meeting of the Company to obtain shareholder approval for the Potential Acquisition.
The Company's shares were temporarily suspended from trading on AIM on 9 September 2022, to remain so until Advance Energy is in a position to publish an associated AIM Admission Document for the Potential Acquisition.
As announced on 27 May 2022, Advance Energy became a cash shell on that date under AIM Rule 15. As a result, the Company had six months from that date to complete a reverse transaction or trading in the Company's shares would be suspended under the AIM Rules. As Advance Energy will not be able to complete a reverse transaction within that time, its shares will remain temporarily suspended from trading on AIM for a further six months until such time as the Potential Acquisition or another reverse transaction is completed. In the event that a reverse transaction is not completed within the further six months, the Company's shares would be cancelled from AIM.
It should be noted there is no certainty that the Potential Acquisition, or any transaction, will take place.
Enquiries:
Advance Energy plc
Larry Bottomley (CEO)
+44 (0)1624 681 250
Strand Hanson Limited (Financial and Nominated Adviser)
Rory Murphy / James Bellman
+44 (0)20 7409 3494
Buchanan (Public Relations)
Ben Romney / Jon Krinks
+44 (0)20 7466 5000
Tennyson Securities Limited (Joint Broker)
Peter Krens / Ed Haig-Thomas
+44 (0)20 7186 9030
Optiva Securities Limited (Joint Broker)
Christian Dennis
+44 (0)20 3411 1881
For further information, please visit www.advanceplc.com and @advanceplc on Twitter
To register for Advance Energy's email alerts, please complete the following form: https://www.advanceplc.com/media-centre/news/#alerts
Started: ShareInvestment, 31 Oct 2022 08:11
Last post: harpmandoodle, 31 Oct 2022 08:59
We have further 6 months to complete. Ok by me, on a dead dog that may come alive again.
Nothing to really be worried about.
Still 50/50 chance of doing a deal
AGM will be fun haha
In the RNS they state they will not be able to complete relist before november 27th and shares will stay suspended till a deal is agreed or go bust may 27th...
In my opinion this RNS means that they are truly working to complete the deal by the end of November. Hopefully the deal, which in my opinion is likely to be into a European asset with small production and production uplift potential, will see a x2-x3 mcap uplift after raise which in turn should bring enough interest to allow in this market the closure of a cash raise. Time will tell, but in theory should be very interesting and low risk for such small mcap company with a different strategy, as clearly the Leslie P strategy has not delivered. Time will tell, let's sit back and see.
Started: Amc20, 27 Oct 2022 08:25
Last post: jonesrichard, 29 Oct 2022 18:08
Hopefully something is forthcoming this week then
Don't think many have read or been part of an RTO before.
There will be NO deal unless WE the shareholders approve it. States this in clear English in the RNS
"AIM Admission Document that would set out details of the Proposed Acquisition and convene a General Meeting of the Company to obtain shareholder approval for the Potential Acquisition. "
The team will have to update us with the proposed transaction and WE will have to vote FOR or AGAINST the deal before it can be happen.
Interesting, so no news tomorrow/Monday could actually be interpreted as a positive sign in that other party’s could also want a piece of the action, so could be a bidding war situation!
Not necessarily so. Deal is not off on the 29th. It just means any other interested parties can be given the same information as the current interested party after the 29th.
Whether there is any other interested party or not, who knows. The only thing we can be certain of is that, come the 19th of Nov, we will have to make our decision re cash shell takeover.
I am expecting a detailed RNS sometime w/c 7th Nov.
As someone of considerable experience over the years, the very very best advice I would give whenever anyone invests in anything and especially a small company is : BE PREPARED OIR IT TO GO COMPLETELY BUST !!!.
This is general advice !!!
Started: Jimbot, 20 Oct 2022 19:46
Last post: jonesrichard, 24 Oct 2022 21:01
Hopefully you’re right and ideally there will be an announcement this week and trading resumes early next week!
We hope so! Lol can only hope for the best here can’t we! GL all holders!
I think there should be news this week because of the exclusivity period ending.
That is my opinion.
We will see.
My friend jonesrichard and I are going to make a fortune!!!
We will see.
GLA
exclusivity period ends 29 October 2022 wonder if we will hear anything this week
So name change is imminent
Started: rooblertwo, 24 Oct 2022 11:45
Last post: rooblertwo, 24 Oct 2022 13:21
Yep, received it Saturday.
Vote was on basic stuff like to keep on directors, lawyers and accountants.
rooblertwo.
Have you received a voting form?
GLA
I found the voting form a little cheeky. They expect us to keep on the directors when they are YET to announce the terms of the deal. So even if it is a bad deal they get to keep getting their monthly pay.
Either way I voted FOR everything.
Last post: Hms687, 24 Oct 2022 13:01
I think Penny Mordant will be Prine Minister
Marcello Bielsa will be manager if Leeds United again
Advance Energy will probably go bust
But please don’t believe every word I say
Either way, it should be great fun in the coming days
Started: ShareInvestment, 19 Oct 2022 19:14
Last post: ShareInvestment, 19 Oct 2022 19:14
Like the RNS and clearly deal expected October or more likely now November. As mentioned before on the back of previous RNSs my guess is that we will close a deal with the issuance of some shares and earn out on oil production. Due to our size I rather prefer to start the rebuild or new company with a small production asset, with development potential. As mentioned before, very much like that they are talking about a European asset which I like vs some less palatable jurisdiction. Time will tell but can see this doubling depending on raise size vs mcap uplift post raise. Time to sit back and wait a few more weeks for details.
Started: rooblertwo, 19 Oct 2022 16:15
Last post: rooblertwo, 19 Oct 2022 18:23
Pahaha most of us are in at the bottom as well so their greedy snouts in the trough will benefit us.
It looks like our wonderful Directors are setting up there next con!
Get in at the bottom and sell before the top.
The wonderful world of AIM!!!
GLA
Funny ;)
Yes, 2p or not 2p! 2p would be a nice sp to be seen soon here!
Going to be a weird conversation going into the AGM asking for a name change with no deal.
So I suspect we will vote on the RTO between now and the AGM and the AGM will present the votes, plan and listing idea.
Just my 2p
Started: LordPaul, 17 Oct 2022 15:27
Last post: jonesrichard, 18 Oct 2022 21:46
So in theory it could be up until 27th May next year but all of the indicators from the last RNS was that they are very hopeful that a deal will be completed in or before 29th October.
Ok thanks, so it could in fact be more the end of November then?
Timetables are all in the RNS
29 oct mentioned in the RNS from september 9th. You can read it is the date exclusivity ends.
Other dates you can read in RNs from may 27th
It was my understanding that we would likely get an update on or before 29th October?
Professional.
I didn't know those were the timescales.
Thanks.
It could be a lot longer than I thought then!!!
GLA
Started: SeagullsFan, 14 Oct 2022 11:26
Last post: jonesrichard, 14 Oct 2022 18:29
About time one of them gave you a good few bags upon relist then isn’t it! This could be the one!
Every RTO I have been part of hasn't gone well so fingers crossed.
Not long to wait now - maximum of 2 weeks until we hear something.
My own expectations are low, but that’s because it’s the hope that kills ya! :).
As long as they can get some kind of deal over the line, if that allows a platform to build on over the next few years it’s a start.
Started: rooblertwo, 14 Oct 2022 12:18
Last post: LordPaul, 14 Oct 2022 14:53
Professional.
Exactly how I see it as well.
I am hoping they shoot up on relisting and within the first two days trading I will sell the lot.
I have had enough time to think about it.
GLA
Larry and Mark needed to invest and for them it is less then salary so worst case for them they worked for free a few months...
Look at cash balance april 22: 662.000 usd.
They raised 425.000 gbp to keep lights on.
Read part about going concern in the latest report. If deal this year enough cash to last to the fund raise linked to the acquisition.
If deal delayed not enough cash.
So bottom line : no cash in few months.
They will tell a good story about the new acquisition (if succesfull) and announce equity raise. How much is difficult but if the project needs to make a few million profit each year just to cover cost it should be a lot ( compared to value of shares now)
They will need equity investment from new investors which will result imho in massive dilution.
To sell the story and probably also because they think it is a reasonable deal they will participate themsleves with a much bagger amount than last time and offer investers ope n offer as well resulting in more money invested or massieve dilution. Just my thoughts . We will hear soon indeed
I have faith this could work out well as Larry and Mark wouldn't throw in £48k each to see no return.
Started: LordPaul, 13 Oct 2022 20:57
Last post: LordPaul, 13 Oct 2022 20:57
As previously mentioned because of a potential vote.
GLA
Started: Hms687, 10 Oct 2022 08:47
Last post: LordPaul, 10 Oct 2022 23:05
In my opinion, news will be next week.
GLA
Doubt it will complete this week
We still need to see the documents and then vote. Organising the vote will take a few days alone. They will want to give enough time to all investors to ensure the vote approves.
Why, what’s EOG ?
I'm hoping this interested party wasn't with EOG..
Hopefully will be completed this week ideally
Started: rooblertwo, 6 Oct 2022 10:48
Last post: LordPaul, 7 Oct 2022 22:27
rooblertwo.
What price was your 4k in at?
GLA
Yes, multiple pence sp would be most welcome upon relist!
Another week over.
I really believe in the next two weeks news on a deal will arrive.
Have a good weekend everyone.
if we go back to 1p I would be VERY happy.
I haven't got much in this around £4k but would make up a lot of lost money if I 10x
I think the ADV Directors will sell a massive dream to investors when trading resumes.
Share price will fly before the next funding round shortly after resuming trading.
I would love 1p.
GLA
Well I too lost substantial on here when the drill collapsed- AND I WAS INE IF TGE MIRE CAUTIOUS ONES.
But in this game you can’t just sit still and glad I hold a relatively small holding which would become huge if this becomes five or ten bagger
ALSO my personal interest now would be to see if any more buys would be in order once opened up
Good luck all
You’re entirely right it has taught me a real lesson and provided me with some experience.
Hopefully things can turn around here and every
Investors situation here is improved .
Good luck to all here .
I, too, am sorry for your loss but it will have taught you a lot!
And investment knowledge usually costs the recipient very dear!
First lesson is spread your risk!
Had HE1 and ADV come good you'd be patting yourself on the back , thinking you're a very astute investor.
But it's seldom that easy for most of us!
You've a mountain to climb after losing most of your starting capital but I hope you'll persevere.