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Ja51,
The "connected" companies are in the nature of the industry - companies seek to limit exposure to the results of any one project by working alongside partners.
56.25% Cuadrilla, 25% Angus Energy and 18.75% Lucas Bolney Ltd.
Lucas Bolney has the same links as AJ Lucas so a double whammy........................... More connected companies....who'd have thought it???
https://drillordrop.com/2019/12/11/cuadrilla-investor-fails-to-meet-fundraising-target/
In some ways, the NEX bond memorandum dated 24/05/17 shows just how much has changed since then:
agreed, some of the key shareholders have not changed, although their % holdings have declined markedly, from 16.87% in JT-P's case;
but neither of ANGUS's 2 principal projects of today were in their portfolio at the time;
and the one remaining director is Cameron Buchanan.
Ja51,
GL has said that he already knew JT-P. That doesn't stop GL from being a different manager to PV.
I've not seen anything to show that GL and Rupert Labrum know each other (but they do have City backgrounds in common).
OK Ocelot
My point is they all know each other, including GL and RL. I'm sure given an afternoons research you could pull up names that will link One of the multiple interconnected companies to Saltfleetby.
People including yourself claim that this is new management...Blah Blah Blah.....Well kinda but not really.... GL by his own admission was installed after a meeting with JTP and the Nomad who we can safely assume was Beaumont. (Later re-appointed)(See the DD article). GL was also installed as Non-Executive Director position at Challenger Acquisitions Ltd, who surprise surprise also is 12.5% owned by KNOWE PROPERTIES LIMITED Angus's largest shareholder. So no surprise GL won't get rid of JTP who got him 2 nice payouts. No wonder he thinks JTP is an honourable man or whatever he described him as, despite the vast information freely available to point utherwise. ( search Threesome and Elephant Polo) Two people who would most defiantly disagree!!
So what is the point of Having JTP looking for new prospects when its a pass the parcel from one connected company to the next anyway?
I think your Concert party has been in place for many years now!!
AIMO of course.
Ja51,
That's UKOG formerly Sarantel Group's annual report for the year ending 30/09/13, ie. 6 years ago.
Sorry, but I don't really see how that helps in assessing ANGS's prospects today.
Ocelot following on from last night
From http://www.angusenergy.co.uk/wp-content/uploads/2017/02/Angus-Energy-NEX-Exchange-Bond-IM.pdf
9.10 JonathanTidswell-Pretorius was a director or partner of the following companies and partnerships which were put into liquidation, either at the time he was a director or within 12 months of him ceasing to act:9.10.1Angus Energy Eakring Development Limited was dissolved on 12September2014owing £78,059.31 to creditors;
9.10.2 Angus Energy Kirklington Development Limited was dissolved on 2 January 2015 owing £24,850.51 to creditors
;9.10.3JonathanTidswell-Pretorius was adirector of, and held 50 percent .of the issued share capital of Grafton Petroleum Limited(Grafton),from 6October 2004 until it was dissolved.On17 August 2011, the court made a winding up order under the law sof Scotlandandthe SheriffappointedDavidMalcolmMenziesofAthollExchange,6CanningStreet,Edinburgh EH38EG as the interim liquidator.Grafton was dissolved on 26June2013. The estimated total deficiency as regards creditors was £272,791.61.
............................................................................................................
WHICH LEADS YOU TO THIS........................
https://www.ukogplc.com/ul/Annual%20Report%20&%20Accounts%202013.pdf
Bottom of page 4 into page 5.
The whole thing is quite illuminating!
Mmmmm....... Egdon Resources plc....arnt they doing something with Union jack right next door to Saltfleetby????
Forget it: was thinking "beneficial holdings of shares held by shareholders holding above 10%" referred to an individual shareholder, but it'll simply refer to the combined holdings of Knowe Properties and JDA Consulting.
Apologies.
SHARES NOT IN PUBLIC HANDS
The total percentage of shares not in public hands is 15.0% defined as being beneficial holdings of shares held by shareholders holding above 10% and the directors holdings.
"A 'concert party' is a group of people acting in concert in a takeover bid. In the UK, there are rules for such bids, regulated by regulators such as the Takeover Panel ...". (Wikipedia).
Obviously, there is no takeover bid, so "concert party" may not strictly be applicable, but I meant it in the sense of "a group of people acting in concert".
Do you think the Labrums may have anything to do with the 15.0% of ANGS's share capital not in public hands (given that no significant shareholder holds above 10% of ANGS's share capital)?
http://www.angusenergy.co.uk/investors/share-structure-significant-shareholders/
P.S.
The rest of the definition makes perfect sense though!!
Ocelot
Concert party Definition
"Ostensibly unconnected investors working in concert to make discreet purchase of a firm's shares. Each investor buys just enough shares to remain below the statutory level above which he or she must declare his or her interest. Their usual objective is to jointly accumulate enough number of voting shares to (1) manipulate share prices, (2) influence a firm's management, or (3) initiate a takeover bid. This practice is officially disapproved by securities watchdog organizations."
Well, we know now that they are hardly "Ostensibly unconnected" as Angus Prim, Dor, UKOG, Horse Hill developments and many more were listed in the same building. Directors of all these companies have direct involvement with each other including intimate Knowledge of Toxics 1st loan being written off when Angus sold HH as some were party to the deal!! He also received Dor shares for another deal, I can't recall which it was. Angus Also received many many multiples for the isle of white concession from Dor which Angus only paid £5,000 for?. (Some may wonder about the nearly £0.5 Million to Dor for Lidsey earlier in the year being connected but I couldn't possibly comment)
Now Given Prims directors are well known to the Angus Board and the Labrums own 19 % of Prim And Rupert 7.4% of Angus....................... The question again is what makes you think they are Ostensibly unconnected?
All information is available in previous company accounts and in NEX-Exchange-Bond-IM.pdf below
http://www.angusenergy.co.uk/wp-content/uploads/2017/02/Angus-Energy-NEX-Exchange-Bond-IM.pdf
http://www.angusenergy.co.uk/media/news/
My comment follows your post, Ja51, of 16:37 last Friday:
"So a family takeover at prim?
Stephen Labrum - 7,500,000
Rupert Labrum - 7,454,588
Janine Labrum - 4,250,000
And Rupert owns 7.5% of Angus also.........mmmmm wonder if the others are holding under the radar?".
Ja51,
You're the one who brought to our attention the Labrum family interests in Primorus Investments.
Could this have anything to do with the 15.0% of ANGS's share capital not in public hands?
I know the company's run like an episode of "it aint half hot mum" but I have a feeling you're not talking about gunner Sugden, Gloria and Windsor Davies conspiring together....lol
Not that foolish, if you have to keep the lights on, pay off Lenigas and have non performing loans to the fmr. Chairman who brought you into the job...just not good for RIs....
It's odd, isn't it?
Have they identified a "concert party" involving a significant shareholder?
The total percentage of shares not in public hands is 15.0% defined as being beneficial holdings of shares held by shareholders holding above 10% and the directors holdings.
-----------
How is that 15.0% arrived at, given that none of the significant shareholders hold above 10%?
To be fair the RNS says on or around the 12th so they could be on the market today?
Adjusting for the enlarged share capital, JT-P has slipped below the 5% threshold, to 4.90%.
The above information was accurate as at 4 December 2019.
More of that attention to detail GL has transformed the company with...lol
New shares are now on the registar!
http://www.angusenergy.co.uk/investors/share-structure-significant-shareholders/
Very foolish of Lucan to enter a Riverfort convertible deal to provide funds for abandonment when it wasn't required at this time. Could have been converting at a much higher price later IMO.
Please.... a big multi-national with bottomless pockets couldn't warrant the volatility.
Angus are forced to go to the market for funds to change the executive toilet roll FFS.....simply no finance or likely further finance to warrant this!
Again £1 for a reason