Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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also Nigeria probably on the back burner, our opl and many other opl/oml all
expired or expiring licenses , so its not just us around 50 all together
The speaker of the house last week on suspension of parliament until the 18th
stated the PIB Petroleum Industry Bill (20 years in the making) WILL be read for
a 3rd time (that's an into law scenario) before the end of MAY and have the
Presidential rubber stamp into law early June
Part of the 50+ page PIB (YES saddo has read it) is the new regulatory body, which if you
read it has ALL the powers and authorities we would be interested in , permits for drill
etc etc
So in the past month 4 licenses have had news on progression but all have been gas
and other articles on a massive ramp up in Nigeria's Gas production and new LNG
and floating platforms etc
Presume , the new body will be under pressure to clear the backlog quickly, the
president threw his rattle out of the pram recently and then the other day another
well heeled minister and his cronies called to account over the ongoing ex Addax
China 4 or 5 licenses misappropriated into the ministers own company , legal
in motion give 2 weeks to appear and explain themselves, el pres not impressed
he stepped in and gave them back to China , then dodgy crew took them away
again lol
:))
The new body should be up and running early June , so not all bad the timing could work
out very nicely for us IF we return as Arty expected at latest early June GLA
:))
G'night mum
one day soon you'll get that flash lol
:))
red dot , red dot , minds out of the gutter boys lol
Q&A are very good for shareholders confidence, and if ART was awaiting on Nigeria news before relisting am sure all shareholders would be happy with this, its the not knowing and constant guessing and hopping we see a red dot the next day that drives me crazy.
Well night all... let see if we have news tomorrow ;-p x
Not too long now boys and girls until our rebranded explosive return...
Noob i diidn't take it as criticism at all x
End of year $53 million debt restructured and a new $9 million facility taken out
they will not let it go cheap, those who agreed to the restructure and the new
facility will want some return and their investment back
End of year report
Cuda completed a major restructuring of its indebtedness including existing credit facilities and convertible debentures of approximately $53 million at December 31, 2020. The restructuring culminated on January 26, 2021
a new and additional senior $9.0 million credit facility. The new senior credit facility will allow Cuda to continue development of the Wyoming assets
Q&A is simply the easiest way forward IF there is a delay.
I suspect that there could be several reasons inclusive of various ongoing negotiations for then making AM consider a delay. All of which, imo, are good. Hence a Q&A session might be raised.
noob i am sure i can annoying by my i am ok to wait/no i am not get a move on....think it is human nature, will think a bit more on what I post before i post in future
Cuda’s debts were converted to equity which then put the creditors with a significant controlling share of the company.
That imo makes Cuda a stronger negotiator.
Would agree Noob on the lack of clarity.
Is why i suspect any delay might get preceded by a Q&A session.
do not think Cuda remotely on the agenda at the moment would cost us far more
than ATOMIC did, they have debts as big , their creditors will take it away before
they allow a fire sale
silver lining , we might then pick up for cents on the dollar from the creditors LOL
:))
We would be valued substantially higher than the COPL who initially enquired into the additional 43% WI. And IF there was the probability that Cuda were interested in selling, AM might then try approach the table as the minnow that COPL currently are, in effect stalling the RTO. And stalling is what some investors classify the current delays as.
Would simply be that it is not the end of the world, IF a delay is raised.
we have already completed the physical RTO of ATOMIC in March
if he went for an additional lower percentage that would just be a further acquisition
as we would be valued more than the new addition
and as you said
revenues since 1st December per initial agreement
increasing revenues since 1st December, miscible already in progress at lower rate
ramp up in revenues and production since 1st April target 3x increase then upped to
target 5x current levels
So the q1 results to March 31st will or should be some good reading lol
:))
Suspect that the bumpy ride may yet not have started. As per Shaa’s reply ‘there are no problems’ but I do wonder if AM May restart the RTO if say he has been successful in acquiring additional WI.
Re-listing in 3 weeks then looks to be sending COPL into mid-tier territory and at which point their negotiations for additional WI then get a wee bit hampered. If 57% then equals say, a quarter of a billion £‘S mc, then what are those holding the other 43% going to start asking for...
Half suspecting AM May well throw in a delay. And the likeliest way of doing this will be by raising an open meeting... an open Q&A session.
June ?! Lol.
yep and just like June
our SP will be busting out all over SOON!
:))
HFB could you imagine what would be writen about the company and ART if we had been suspened from December when the RTO started, I know is been a bumpy ride for the last few weeks but nothing like it would have been from December, looking so forward to getting back on the main market but I can wait a few more weeks if thats what it takes, and whats not to like we are generating revenue while this carries on, happy days xx
yes we saved 4 months suspension lol
just as well or would have been a nightmare on return, all in place all raises and placings
done and the churn starts the minute we come back, might have hit a bump in the road
but would have been far more frustrating to return to a stalled rise and churn which we
also completed before suspension lol
:))
HFB good job the RTO has taken place then lol
wont noob , the crowd cant get past some RTO take literally a year or more
BUT it is usually a suspension on the day of announcement to DO THE DEAL that may
not even happed , it does not its out of suspension weeks months years later and
straight back to trading
So in effect we should have been suspended nearing 6 months already, we dodged the
main bullet having COMPLETED THE RTO of Atomic before being stitched up by the
authorities to now still do the paperwork, last 2 steps of an IPO required
prospectus submitted to FCA/UKLA - approved
application to Exchange to trade
the latter a set in stone 10 working days (2 weeks) for Main Market return
on the end of a FULL ipo with no market history , that last two steps usually no more
than a month, hence hopes fca speed through due to long market history and previous
prospectuses submitted and hopes of only 3 weeks in total
:))
LB always out of step with the universe Iron
a normal RTO is on day of announcement , WE SKIPPED THAT STAGE, to actually do the
deal, arty got caught with bad advice back in December when we should have been
suspended pending THE DEAL, then reapplication to return to market via Prospectus
FCA/UKLA and finally application to the London stock exchange for permission to
trade on the Main Market (10 working days / 2 weeks)
We had the rug pulled AFTER we completed the RTO , taking over a company bigger
than yourself , we are now Obliged by the authorities , to submit the paperwork
which is the final 2 steps of a full IPO
The financials would have held us up, as the quarterly to 31st December was pending
that alone can induce a temporary suspension until published
They have now tidied up the books both q4 and annual published, so all should be
tickety boo for the FCA fine tooth comb, that under normal new IPO takes as long
as it takes, we have a history and multiple filings, including according to Arty back
in December a recent prospectus , that already included the early provisional Atomic
details
So if the prospectus goes in tomorrow, we are back in 21-28 days not 3 months ever
@LB28 Its not a suspension. Its a new listing. No reason at this stage not to believe the recent comments from both the company and the PR team stating early June.
Thanks HFB - early June does seem to be stacking up.
Billbo
its submitted to the FCA/UKLA once approved and unlike a regular IP we have history
and previous submitted prospectus, so should be quick through the financial checks
by the FCA, on approval its then the last step of an ipo the 10 working days with
the exchange (2 weeks)
SO its 2 weeks plus however long the FCA decide to run a fine tooth comb over the
finances, as said we have a lot of history , so fingers crossed quicker
hence most expecting poss only 3 weeks in total
Does the prospectus have to have 21-28 to be accepted?
mange tout mum
mange tout
Raquel ,relax this evening with a nice glass of Chateau nuff said de pape