Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Has it gone private or closed?
Don’t know what to make of today’s rns it’s 2 edge sword? The suggested demerger is a great potential for the share price appreciating upwards, but chart needing funds may indicate troubles ahead. But at this price the risk is worth it imo.
We may wobble ?
do you think a 56% fall in SP in just over months is merely a downward shimmy ?
South Africa needing "near term" funding? Seems we are stretched, prompting this review. Not the best position for negotiations imo. "Best for shareholders" rolled out again.
On a positive note:
We may wobble because of this before going upwards, again imo, as it states a clear set of priorities. It is necessary for CHAR to balance ambition and capability to attract interest and this is a start.
Hopefully we will find some forward gears now.
All imo, gla
Good Morning,
I am not sure what the purpose of this review announcement is for. Is it a genuine first step to splitting the Chariot business, or, a buying time ploy for AP - review gives him time to get closer to gas, which he can then use to fund transition business. I feel this is AP's baby and I also think it is a large part of the share price suppression - even when/if we get cash inflows from gas, where are these going? back to SH or to fund a future energy business. Its the lack of clarity on return hurting Chariot.
I like both businesses but would prefer a split as I think the market would uplift the gas business as a result.
Interested to hear other views on this.
NtD
Is this what this is about?
Theobold I agree with your post but would question the clarity of the writer as the last part of this para doesn't seem at all clear to me.
" Whilst there is no certainty that a funding package will be concluded, management has elected to undertake this review to explore the options available to the Company, which may involve a full or partial sale or demerger of the Transitional Power business or the division remaining part of the Chariot group, with the aim of the strategic review to maximise value for Chariot's shareholders."
"or the division remaining part of the Chariot Group" ??
Clear message to market, we are 100% predominantly GAS and this is what i believe is needed. transitional power is great, but we are no where large enough or funded well enough as a company to have it included in same as our GAS. IIs have hinted strongly i believe to company this is needed. There seems certain to be IIs that want to invest in transitional power but wont becasue of gas and there will certainly be IIs that love the gas transition from oil /coal etc but wont invest because its all to complicated and uncertain with so many other pillars currently inside Chariot with potential cash drain .This strategy solves both issues imo.
This should offer some clarity as to the strategic direction for Char, as the muddle and fingers in too many pies has put a lot of important potential investors off.
GREAT NEWS …..so either a sale with cash coming in or a new company being formed under our umbrella totally self sufficient in its own funding.
Chariot Limited is reviewing its Transitional Power division, which focuses on sustainable energy in Africa, due to funding needs. They're exploring options like sales, demergers, or keeping it in-house to best benefit shareholders. CEO Adonis Pouroulis emphasizes this move is strategic, aiming to fund projects and concentrate on promising natural gas ventures in Morocco. This could impact the share price both ways: it shows forward-thinking but also hints at financial pressures. How the market responds will hinge on the outcomes of this review and the deals Chariot secures.
Strategic review of transitional power division.
Hopefully this will clear up future finding worries, same needed for the green hydrogen pillar.
Well spotted jt...... getting a bit late now to be fully awake !
When the seller is done selling then an rns, the big million sales end of last week could be them finally clearing out.... would be great timing of seller cleared and positive news inbound....
Ian,
AP holding difference solved from your list:
1.31% Leto Trust 14,006,225 UK£1.1m
Agreed, LSE is wrong. Maybe AA was the seller and we will get the RNS this week, although I would prefer an RNS about progress. thanks.
Ha..... 765,134 looks like either LSE have added in his last purchase twice or Hargreaves Lansdown can't add up! - see my link to HL below.
I was taking DW's latest holding at 765134 from LSE, but that could be wrong.
Covalis holding was reduced due by the CFD they held.
If AA now out, shouldn't we get an RNS confirmation?
cheers.
Thanks jt but according to latest info on Hargreaves L' on 22-12-2023 Duncan bought his 101,543 shares which took him up to 663,591 which ties in with my figs below. A.P. holding on Hargreaves has 88,227,396 after his 376,390 purchase on 10-01-2024. He also purchased 385,682 the day b4 - 9th Jan. Per H.L. he has not purchased or sold any others in last 12 months. I don't know why, when you add the Westward holding to his, you only get 74,221,171 which is 14,006,225 short of his supposed total? Maybe he holds 14m elsewhere? The only trades he has made in the last year are those 2 shown above.
Chris Zeal on 29-01-24 bought 113,921 taking him to 513,964 which ties in to my figs on my last post. So figs on that post must be 29-01-24 at earliest.
https://www.hl.co.uk/shares/shares-search-results/c/chariot-ltd-ordinary-1p/director-deals
Ian
Hi Ianfer,
It shows AP holdings lower than before, plus shows DW holdings before his latest Dec23 purchase, so not sure if it is the latest info.
This information comes from the S.W.S. site which also shows Market Capitalisation of £82.54 million and which is bang on today's value, so I think the shareholdings may also be up to date.
Top Shareholders I believe at 31-01-2024 and I'm not sure how much after. - As per "Simply Wall Street"
These work out at 7.6 pence per share which is current value so I suspect these are about up-to-date figs.
Mr A.A. 6% has gone. May be he was connected to Covalis who are down from 6% to 2.78%
Top 11 shareholders own 12.99% of the company
Ownership Name Shares Current Value
6.84% Westward Investments Limited (A.P.) 73,359,099 UK£5.6m
2.78% Covalis Capital LLP 29,850,969 UK£2.3m
1.34% Meridian Capital International Fund 14,346,192 UK£1.1m
1.31% Leto Trust 14,006,225 UK£1.1m
0.25% George Canjar (Non-Exec Chairman) 2,729,881 UK£210.2k
0.21% azValor Asset M'ment SGIIC, S.A.U. 2,228,436 UK£171.6k
0.08% Adonis Pouroulis 862,072 UK£66.4k
0.062% Duncan Wallace 663,591 UK£51.1k
0.053% Julian Robert Maurice-Williams 563,953 UK£43.4k
0.048% Christopher Zeal 513,964 UK£39.6k
0.029% Andrew Hockey 313,246 UK£24.1k
There must be other individuals as I hold more than some of those?
https://simplywall.st/stocks/gb/energy/aim-char/chariot-shares/management
Cheers
Ian
Maybe to simplistic!!….
Yes, indeed so !
Prd has a value of 8p ( half amount of shares) and it probably has as much gas on shore if we have …..so onshore for us should be valued at 4p.
Maybe to simplistic!!
"9 working days to see some action"
There surely has to be some news in the early part of the week?
Hi Surety,
The one on the Chariot website only gets updated every 6 months as per the AIM rule, so that won't change until June.
I think someone had a link to an alternative site.