Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Brilliant RNS, looks like we will get something back
This could potentially be very good for Chal.
Big emphasis on "waste to energy" companies currently, with a lot of funding in Europe in particular going that way.
Waste levels are projected to increase massively in the coming years due to increase in population and the "renewables" are projected to supply more than 50% of global energy by 2035.
I'm also in another waste-to-energy company - EQT - and have enjoyed riding the wave so far.
If everything goes according to plans, then the starting price for RTO well be 3x the current price. Divide your number of shares holding by 266 Anna reach will cost £1.09 per share. Expect the share price to rise now that the fundamentals are in place
Nm
Potential reverse takeover and suspension of listingChallenger Acquisitions Limited (LSE: CHAL) is pleased to announce that it has entered into a Letter of Intent ("LOI") with Cindrigo Limited ("Cindrigo") and Cindrigo Energy Limited, which are part of a group of companies pursuing renewable energy projects built on broad Swedish expertise and experience in the waste to energy and biomass energy sector (see www.cindrigo.com).
The LOI contemplates Challenger making an offer ("Offer") to acquire all of the shares of Cindrigo, subject to completion of a reorganization between Cindrigo and its holding company, Cindrigo Energy Limited, which requires court approval in Canada. The making of the Offer would trigger the assumption by Cindrigo of the costs of implementing the transaction and obtaining readmission of the Company's shares to the Official List and the Main Market of the LSE along with certain of the overheads and creditors of Challenger, subject to a cap of £560,000. To support this obligation, Cindrigo is obliged to make an initial payment of £450,000 into the client account of the lawyers for Challenger.
On the making of the Offer, Cindrigo will be entitled to appoint two directors to the board of Challenger at which point two of the existing directors will step down. It has been agreed that the two remaining directors of Challenger will step down if requested at any time to do so by Cindrigo.
The consideration payable under the Offer will be the issue to Cindrigo shareholders of shares and/or convertible loan notes of Challenger such that, following completion, and conversion of the convertible notes issued as part of the consideration, the existing shareholders of Challenger together with the Company's existing holders of convertible notes will between them hold 3% of the share capital.
The current board of Challenger has unanimously approved the LOI and there is, subject-to-contract, agreement between the Company and all the convertible noteholders to facilitate this transaction.
Should the Offer complete, it would constitute a Reverse Take Over ("RTO") under the Listing Rules. Therefore, at the request of the Company the FCA suspended the Company's listing on the standard segment of the Official List and trading on the Main Market of the London Stock Exchange has also been suspended pending either a further announcement on specific details of the RTO, the publication of a prospectus, or an announcement that the RTO is not proceeding.
Challenger Acquisitions Limited (LSE: CHAL) is pleased to announce that it has entered into a Letter of Intent ("LOI") with Cindrigo Limited ("Cindrigo") and Cindrigo Energy Limited, which are part of a group of companies pursuing renewable energy projects built on broad Swedish expertise and experience in the waste to energy and biomass energy sector (see www.cindrigo.com).
The LOI contemplates Challenger making an offer ("Offer") to acquire all of the shares of Cindr
Up each trade...
Rastuss - I agree it does seem very strange when you are quoting the companies accounts / RNS and adding up their liabilities and yet folk will go out of their way to say you're wrong....with no counter evidence (links, page numbers).
I do find it takes up our time and Admins time to filter the wheat from the chaff.
Rastuss - seems I have missed some action on the Chal board? I see my comment has taken collateral damage. Was it my analogy of Mr Von Tidswell drilling from the wrong well was the equivalent of siting the London Eye on the wrong side of the Thames?
What unpleasant allegations?
What has Alan been accused of doing?
Has anyone had any luck communicating with the company ?
In fact Jonathan Tidswell was forced to resign after not informing the board about his share dealings during a closed period.
5 separate occasions he conversed with America 2030 during the closed period and only got found out when they started selling his shares.
The strange thing is we still haven't found out why he was doing this in the first place, considering some folk call him successful.
He also staged a shareholder revolt (just him) which further crashed the SP. He actually turned Angus into a circus and they even ended up being front page of The Times....for the wrong reasons.
Sad to say his track record is very poor.
http://www.angusenergy.co.uk/wp-content/uploads/2019/03/Angus-Energy-Board-Changes.pdf
Rastuss - there would be dilution in an RTO as well. Whatever happens next there is going to be dilution. The point is that the value of the asset that is put into the company should increase the share price enough to outweigh the cost of the dilution - not necessarily instantly but over time.
Also, what is the alternative? CHAL remains here with no income and no substantial assets? It would have to raise money anyway just to keep the lights on.
Rastuss - there would be dilution in an RTO as well. Whatever happens next there is going to be dilution. The point is that the value of the asset that is put into the company should increase the share price enough to outweigh the cost of the dilution - not necessarily instantly but over time.
Also, what is the alternative? CHAL remains here with no income and no substantial assets? It would have to raise money anyway just to keep the lights on.
I'm not sure how anyone can build up Jonathan Tidswell (the guy seemed to keep changing his name every year....I wonder why?). There is the Midas touch and then there is the Tidswell touch. The Angus price rise was due to ramping and not from Tidswell.
Yes he managed to drill the original HH, but then sell it before the price rocketed.
He drilled a well at Brockham and managed to drill from the wrong well alienating the OGA, EA, HSE and local authorities adding 2 years onto a project stagnating the SP.
Being the drilling guru Tidswell didn't think it was prudent to order critical spare parts and added an extra 4 months onto the Lidsey well thus crashing the price.
Jonathan Tidswells character has already been tainted by his share dealings with America 2030 (a third-party equity linked lender) when he loaned his shares as Executive Chairman of Angus Energy during a closed period which had commenced on 30th May 2018.
This resulted in Jonathan Tidswell resigning from the Angus Energy board and the investigation subsequently deemed to “the Company's share dealing code was not complied with and accordingly for clarification not be reinstated to the Board”. You can read the actual RNS with the link at the bottom (Pages 2, 4-5). It speaks volumes.
In fact Tidswell has managed to crash the Angus share price on no less than 3 occasions and this is his supposed forte. What experience does he have except manage to get large loans paid to him via the company and then written off before the company goes PLC. One should also note that he is also supposed to be looking for new assets for Angus Energy, so how can he justify the time spent searching for.....well what is he looking for?
http://www.angusenergy.co.uk/wp-content/uploads/2019/03/Angus-Energy-Board-Changes.pdf
There are a number of ways that this could be done:
FIRST
The company would do a raising at a fixed price (but hopefully one that is higher than where it is today). It would be done wholly to a selection of private investors who would be made inside (ie aware of what the asset that was being vended in was). They would look at what they think that the asset could be worth in the future and make their investment (at a premium) based on this. The reason that they would buy in a placing as a premium instead of on-market is so that they could buy shares in significant quantities.
The company would pay for the asset in a mixture of cash (from the placing) and also shares (at the placing price). The seller of the asset would agree to this as they would be in receipt of some instant cash and also share that would likely go up in value.
SECOND
They could farm-into a project where they agree to take, say, 50% of the asset in exchange for paying for all of an oil drill (if it was an oil project) and giving the owner a free-carry (where they do not have to invest any more money) through to production. The company would still need to raise money but the share price should increase once they show that they have a potentially valuable asset and they can raise capital at a premium to the current share price in the way described above.
In the first instance the seller of the asset is able to generate revenue by receiving cash and being able to sell shares on the stock market. In the second instance, they know that they are going to be funded through to production without it costing them any further money.
There are a number of other options as well but these are the first that spring to mind. The bottom line is that whatever happens the company will need to raise capital by issuing shares. If they have a very good asset then they may be able to issue these shares at a premium of the current price but failing that they may have to issue at a discount. Either way, they will raise the capital based on the fact that the value of the company with the asset in it will be far greater than it is today.
barentpeter - I don't think that this will be a takeover by a private company. It is far more likely (99.99% IMO) to see an asset vended into the company at the behest of Tidswell-Pretorius.
That is what I am have invested for anyway as Tidswell-Pretorius has been very successful at doing this in the past - and making early investors an awful lot of money along the way.
Yep. Always a bounce here. Full listing so no threat to delist. Lots of private companies must want to list and raise cash and this is cheap basically.
0.1p is clearly the magic number if you want to be in the game with the same risk-profile as Tidswell-Pretorius, but like I said the other day even 0.2p will be a multibagger over the next 12 months if Tidswell-Pretorius can do the same thing with assets here as he did with Horse Hill for UKOG and Angus.
This is an important paragraph.
Keywords;
- unsecured
- transferable
- at 0.1p.
“ The Convertible Notes 2021 are unlisted, unsecured, transferable and must be redeemed by the Company on 19 May 2021, at the Company's option in cash or in Ordinary Shares at 0.1p per Ordinary Share.”
And why I think around 0.1p is a fair punt, gives a bit of protection from if they wanted to play the consolidate and then issue more shares game as the conversion price would adjust to the equivalent of today’s 0.1p. (They will issue shares but 0.1p should be the base.)
Without that paragraph I would have said no until they converted in to stock and used their price as a gauge on where I would buy, if at all.
I agree with you on the spread - it is very frustrating but I have just put it down to a cost of doing business and have been acquiring regardless. I have not burnt all my powder yet and will definitely pick up more if the price drops, but at the same time I do not want to miss out if it spikes. To be honest, I think that anything below 0.2 will be a multibagger over the next 12 months - though I have also been buying at the best prices I can.
curiosity is getting the better of me here.
tids sales were partly not his fault, his holding was held as security and sold by usa200 (or whatever their name was) because the value of his stock dropped they sold to cover the margin requirement which tanked the stock.
i say partly his fault because he was the one who put the stock in to that facility, the placings and multiple failures to meet of Vonks publicly made targets and over egged expectations of "Star wars" results from the worked over wells.
Ive decided i will probably take a small speculative punt here eventually, but i want to pay around 0.1p and not the 30 % spread, i want to make the money from my trade, i dont want to just over pay for the pipers (mms).
Rastuss - I would respectfully disagree with you.
Tidswell-Pretorius is the man who discovered the Horse Hill asset and set up HHDL which UKOG first bought 7.5% of for £450,000 in December 2013 when their share price was 0.9p (market cap £7 million). Less than four years later UKOG had purchased a total of 49.9% of HHDL for an additional £4.8 million and they had a share price of 8.9p (market cap £317 million). This does not happen as you put it “by plain luck”. Tidswell-Pretorius clearly knows what he is doing.
Tidswell-Pretorius was also part of the team who took Angus from an IPO listing of 6p (market cap £15 million) to a high of 36p (market cap £85 million) in just under a year. Once again this was not an accident.
So, if you had invested in UKOG when they first bought into Tidswell-Pretorius’s Horse Hill project when their share price was 0.9p then you could have made up to ten times your money if you had sold out any time in the next four years. Likewise, with Angus, if you had bought for 6p in the IPO you could have got out for up to 6 times your money in just under a year. All of this was due to Tidswell-Pretoius and the projects that he provided to both companies.
I am not denying for a second that things went south dramatically for both UKOG and Angus after September 2017. I am also not excusing Tidswell-Pretorius for any role he played in this – though at that time you have to remember that Angus was being 100% controlled by Paul Vonk. But I am saying that Tidswell-Pretorius made a massive contribution to tow separate companies peaking at a combined market cap of over £400 million.
The point is, he knows what he is doing and investing into projects that he is involved with at an early stage is a proven way to make money. Of course you can’t hold on forever – this is AIM and what goes up almost always comes back down again but if you make over 5 times your initial investment and do not take out some profit then, quite frankly you got massively greedy and any loss is your own fault.
I have no idea what Tidswell-Pretorius is like as a person and I could not care less that his “chums” (as you put in in a slightly class-war kind of way) happen to be members of the British aristocracy. All I care about is the likelihood of him making me money via Challenger.
With the Challenger share price at this level and Tidswell-Pretorius’ track record of massive early stage success in raising the market cap and share price of companies that are involved in his projects then I think that over the next year this could be a five to ten bagger based on his involvement alone. This is why I have invested. If you think that everything that Tidswell-Pretorius does is lousy then nobody is forcing you to invest here – you can stick with Angus. However, I know where I would rather be…
Tidswell-Pretorius was ousted from the Angus board in 2018 by the then CEO Paul Vonk. He got his revenge by threatening an EGM to get rid of Vonk and forcing him to resign before George Lucan arrived as CEO. He is still a major (4.49%) shareholder in Angus but has nothing to do with running the company from an executive position. As itsagame has pointed out Tidswell did also lose millions in Angus from the top to where it is now.
One final thing that is worth noting about Tidswell is that he is the man who was originally behind UKOG’s Horse Hill. He acquired 65% of Horse Hill from their then owners Magellan Energy when Angus was a private company and was also in charge of the first drill that proved the oil was there. The Angus share of HH was all sold off when Paul Vonk was CEO – maybe this was one of the reasons that the two of them fell out so badly?
In short, two things to remember about Tidswell-Pretorius
1. He “discovered” Horse Hill – which at one stage drove UKOG’s share price to 8.9p and it’s market cap to £317 million.
2. He was involved in Angus when their share price was driven up from their IPO of 6p to a high of 35p and a market cap of £85 million.
Anyway, my point is that Tidswell does have a track record of discovering major assets and getting company share prices and market caps to increase massively. He would not have joined the board at Challenger unless he thought that he could work some magic here too. That’s why I am in.
Or mass placings, consolidations and more placings.