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We will see how comical it is in a few months Fyoz. I hope to god I am wrong but I feel I am going to be tied in here as the deal is going to be passed on both counts, hardly worth selling if it is although I want to. Maybe a miracle will happen and GW will show us how the hell he plans to make exploration drilling a thing of the past and go straight to production. If he can that's worth the money to stay here I think we will never see any hydrocarbons from him.
Misleading again ttaa
If he issues another 1.9bn shares (as you say he will) at 0.4p then it will raise £7.6m which will add to the MC and not dilute the SP
You are becoming comical
I don't think the guys have done the maths on the deal. By the time GW has finished the shares in the company will be 6,300,000,000 divide that by the value of 26% of Transgas £10,740,188 and we get each share worth .0017p. OK we will have cash in the bank but we really are at the mercy of what the market itself values Transgas at.
Should shareholders request 50-75% of Transgas ?
How long will the waiver remain legally binding ?
Yes me too .... bring it on ... let's 'ave it ... etc etc.
Yes to both
50% of something is better than 100% of nothing which is what we have. Its his company and his licenses, he can do what he wants. I have 15k tied up in this and at least want the option to hold or sell on relist. Im voting yes to all amd get this show on the road. Personally for the assets a mcap of transgas (privately owned would be well norh of £100m) this will reflect in our SP which is public and listed.
Lets get this show on the road asap.
So why is he going above the 30% threshold and not willing from the circular to have less than 50% of the share holding once all is counted. We could go share for share as we were 1754033703 and we give him £1 for 26% of Transgas if he rally was interested in getting it moving. We are being sewn up IMHO. I am not arguing any more I have said what I think and this will not land in our favour but if you guy's vote it through then so be it I will be out of here ASAP the guy is a control freak fantasist from what I can see and we have had next to no information over the last 18 months and now he hits us with his list of demands without giving a full picture again.
" I think we should go back and say we are not happy to give up all rights and he needs to think again."
You have lost the plot
This resolution is granting Gerwyn a waiver to not have to make a bid for the whole company. Under UK law once an individual holder reaches 30% they have to make an offer for the whole company. This is for us to give permission for Gerwyn to not have to buy us all out
Next . . .
And it still isn't on there
ttaa "I understand now why the circular is hush hush and not on the website until they have a clear indication that the votes required have been logged to allow it to pass, as soon as a professional claps eyes on this it will get torn apart"
Now you're being deliberately misleading as you posted yesterday that they do intend to put it on the website (extract from your own post):-
'Infinity Energy does intend to upload the information to its website, however, the Company was waiting until the documentation had been dispatched and received by the majority of direct shareholders and Depositary Interest holders.'
Exactly I think we should go back and say we are not happy to give up all rights and he needs to think again. He has threatened to not move forward if we don't vote yes, hmm that's a lot of years work to give up GW...maybe we don't like being threatened.
"The rule is there to protect us as share holder."
Shareholder of what? Nada yet . . .
I understand now why the circular is hush hush and not on the website until they have a clear indication that the votes required have been logged to allow it to pass, as soon as a professional claps eyes on this it will get torn apart. We are giving up rule 9 and I am happy to do that as long as one person GW doesnt end up with a majority share to do what the hell he wants when he wants that's madness to me. The rule is there to protect us as share holder.
"The problem id Fyoz if we vote for this it's our last ever vote we hand all votes and the majority share to GW, we have no say after that at all."
We have no say if we don't re-list. Personally I'd rather be part of something that may return a profit, than be locked out again just because I think someone's getting a better deal than me
You will NOT get a bag out of this share, you will get your money returned when it works out in the wash IMHO.
The problem id Fyoz if we vote for this it's our last ever vote we hand all votes and the majority share to GW, we have no say after that at all.
ttaa "Yeah Fyoz, either way we are not too far off each others maths, £20 million MC would be acceptable return for the wait for me if that gives us a bag to a bag and a half."
So in December you were happy with getting double back but today you're not
I am not impressed with just getting my money back having supported the process with over £20K of my cash tied up for what will be two years soon. I would quite happily risk letting it go than support this offer that is completely one sided to GW's advantage. He has got us like turkey's voting for Christmas, it has taken him this long to arrange a RTO I have no faith in him being able to bring a drill to the PEDL's before the licences lapse. The guy is a complete fantasist with made up numbers of valuations and he want's us to swallow it without question £41million for what exactly? He can go and poke himself in the eye with a sharp stick if he want's he will lose a lot more than me and at 68 years old he needs to decide how long he is willing to drag his pie in the sky on for and leave a legacy.
YEP!!
Lost for words, we were only arguing few few ago why we are not getting no communication from the company, NOW we have an opportunity to stay in or out after relisting if we were to voting yes!
I just cant see why we are jeopardizing our own chances???
Why?
The choice we're faced with is either vote the resolutions in and get on with the listing process, come back to market and then decide if we want to stay in or not. Or, vote against (or abstain), the resolutions aren't passed, we don't re-list and we stay locked out of our funds
I really don't understand your reticence here ttaa, we have the chance to be part of something that could be very profitable, or at least get our money back
With this agreement he still has the option to bring another 1.875,000,000 shares to market and keep his 50% in INFT. That number is higher than we all held including GW before suspension.
I am nowhere near London, can anyone head down and have a look at the underlying documents?
Available on display at Blake Morgan LLP, 4th
Floor, 6 New Street Square, London EC4A
3DJ until 17:00 on 25th April 2019.
Ok, I think you are right
Publication of this Circular
20th March 2019
Application for Waiver
By 31st March 2019
General Meeting of Shareholders
25th April 2019
Completion of Proposed Migration
By 25th May 2019
Publication of prospectus relating to the Proposed Admission
As soon as practicable following completion of the Proposed Migration
Completion of Proposed Acquisition and Proposed Admission
As soon as practicable following completion of the Proposed Migration
Guys can anyone tell me when, approx, we are expected to relist ?