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LOL we'll see who's got the balls to hold into suspension in a company with an uncertain future.
I suspect quite a few rampers will abandon ship!
Might help the gas price I guess
https://www.offshore-technology.com/news/groningen-gas-field-closure/#:~:text=Extraction%20of%20gas%20from%20the,the%20Dutch%20Government%20has%20announced.
Getting boring now bebetoš„±
Go and enjoy your weekend FFS!
Many times peoples scare when company near collapse but share return very higt after they make a killing .
The same with very conservative way for secure a company but in retuen those company seem secure turn out very bad return on share price.
If there is certain what is outcome its share price not as cheapest as it now. Dont expect it look good on cheap share .
From June 16th RNS:
As stated, one of the Company's key objectives is to create a stable period to address both near-term pressures and the longer-term bond maturity.
Well you're not going to get a more stable environment than a suspended share.
But will it ever come back on the market?
Will give another scenario, pure guesswork and call me a fool if you like because I am having invested and made it worse by averaging down. Suspension, a non listed private company fancies a listing but IPO could take a year, reverse take over, deal with bond and LOG to give them something back but not everything, name change, tax credits taken up, shares raised in new company, massive dilution for current share holders by shares given in newco, costs them nothing, BOD get share options in newco, but will probably get cleared out as well, no further investment in IOG, well the prospects they hold are rubbish anyway, H2 and H1 are run to depletion etc etc. Pure fantasy, yes could be
Yes snooz you did point it out, thank you. Another indicator here is not paying the interest first or second lot, given the suspension scenario that money stays within IOG and becomes part of the complex situation to be evolved
When I saw that the date had been retracted from the website - I noted that nothing else on the site had updated. e.g. productivity of assets, and the bond waivers terms are not uploaded to the Bond Investors section.
It could be just a glitch of course on their website and they do still publish rosy results on the 26th that still visible on sites e.g. euronext and marketscreener. (That's a sentence I make to avoid being called always negative, now follows the negative stuff...) If they don't publish the results, it's either because they can't (which would be for textbook reasons of Accounting Issues/Audit Delays/Internal Control Problems/Operational Challenges/Regulatory or Compliance Issues/Material Events not yet properly accounted for/Intra-Board Disagreements) or because there is no point because they know they will be getting suspended from AIM anyways, or don't care if they are getting suspended because there is about to be a significant change in the ownership structure anyways.
>As others have pointed out IOG
Just me the pointed it out. Others would encourage readers to ignore this update - I'm glad you picked up on it 1meteor.
Just keep you eye on gas prices. Winter is around the corner, Ukraine war is in full swing. Iāve loaded up loads of these cheap shares. Gas prices are going to get this company out of this mess, in my humble opinion.
GLA
As others have pointed out IOG have taken down the date for the interims to be published on their web site. If they donāt produce them by the end of Sept they have to ask for a suspension then and they do not have to give the reasons for this. Or do nothing and AIM will suspend them without a company statement due to the fact the accounts have not been published. In the mean time they can still operate the business. They could have left the date on their web site and still have asked for a suspension on the 26th, so it is a mystery what is happening. They could of course still publish them next week. What ever it is looks like its been brewing for some time as in previous years the accounts have been published by mid Aug, so not a sudden event to pull the date. It looks to me like suspension āpending clarification of the companies financial positionā which fits in with not paying the first of the two quarters interest payments. Once suspended they have 6 months to allow for resubmission after which the shares are cancelled. Could this be a reverse take over situation, I have no idea as its something I know little about. At the current share price LTH have lost all but a few quid so the damage has been done but I am curious to know how the sorry story of IOG finishes up
Some additional light reading on the topic for your weekend: https://www.iog.co.uk/media/1241/iog-bond-prospectus-6-december-2019-with-appendix.pdf
Page 14/15: "Interest Quotation Day" and "Interest Rate" for the specifics.
Appreciate that šš»
>Can anyone clarify what this means?
The text of it is:
New Interest Rate has been set for the Bonds:
ISIN Official Name New Interest Rate Interest Period
(from and includingā to)
Days Ticker
NO0010863236 FRN Independent Oil & Gas Senior Secured Callable
Bond Issue 2019/2024
13.403% 20.09.2023 ā
20.12.2023
91 IOG01
The new Interest Rate and Interest Period have been set in accordance with the Bond Terms.
This notification has been sent to the Paying Agent for registration with the CSD (Verdipapirsentralen ASA).
Best regards
It means that, as per the terms of the bond which is that quarterly coupon payments are to be made at a rate of 9.5% + 3MEURIBOR, it is now known what the coupon payment due December 20th is. It is a quarterly payment of 13.403% on ā¬100M.
At the beginning of every quarter (exact date around the 20th will be in the bond terms documentation), the rate for the next quarter is calculated as 9.5% + 3M EURIBOR.
It says nothing about whether previous coupons have been paid or not been paid.
Let me know if there is a more specific part of this you'd like clarifying.
Have you got a link?
Sorry December!!!
Can anyone clarify what this means? Does it actually imply a payment has been made as has been claimed? Itās definitely showing another 3 months interest on the bond until the end of Septemberā¦.. why would this be issued???it looks a really positive & promising but people donāt seem to have picked up on it, am I missing something? Thanks.
Yes bebeto if they don't release results they may be suspended - just like a thousand other stocks at the moment - don't worry they will but I for one would prefer them to wait until they have some news on the bonds.
Yes it's in a liquidity situation but that is why the share price has slumped 90 oddbpercent - its already priced in and there is huge potential for upside ifbthey can hammer out a deal which I believe they've ill as they are a profitable company with hundreds of millions of pounds of assets with a short term liquidity squeeze but as they say in Game of Thrones - winter is coming
>Maybe you have been blinded by your losses but your posing history is there for all to see.
Yes Ben, I held some shares and sold after the last RNS. Those posts are a record of purchases, notable because they were regarding the largest trades of the day in a thread about low liquidity.
Did you really read those as recommendations? I'm struggling to believe you've accidently misinterpreted the posts and instead are misrepresenting them
>negative post after negative post
Al least I can honestly say I am trying very hard to keep them all factual and not posts about random hopes.
Who really cares about another posters comments or other companies as it changes nothing.
There's still loads of underwater holders trapped in here trying to lure other people in with multi bags dreams.
The company is in a very precarious position right now and until they release the half yearly results they'll be suspended in a week Monday's time and if they don't come to some sort of agreement the company could go under or they'll be massive dilution.
Obv another bitter man, 70 odd posts in last couple of weeks in a share he's not invested in, spose it keeps him out of trouble and saves him making any more bad investments if he's always hanging round here plus it gives bebeto someone to talk to š
Maybe you have been blinded by your losses but your posing history is there for all to see. I looked you up to see if you were clever or had any value but every single position you take seems to go south so I'm sure you are a lovely person but just a terrible investor - below is a snippet of one or two as you called into question my honour but there are plenty more if people can be bothered to look - positive when the price was 5p (alright 4.85) and once you sold at a massive loss just negative post after negative post -
snooz
Posted in: IOG
Posts: 332
Price: 4.65
No Opinion
RE: BSDs?20 Apr 2023 21:23
>Is this your first buy here or adding to a holding?
>Are you planning on buying more?
That buy more than doubled my holding. I've not got a specific target... but when the price is back at 6 I'd be thinking about selling half (last time I sold was 6.1, so have a psychological level there), depending on what else I can find to invest in at the time.
I'll hold the rest hoping to X2 on that investment.
snooz
Posted in: IOG
Posts: 332
Price: 4.75
No Opinion
RE: BSDs?19 Apr 2023 21:06
Oops - a bit of a miscommunication between me and them. I was the buy at
19-Apr-23 15:45:05 4.80
I thought they'd cancelled the order a couple of hours before, but they were just telling me they couldn't fill it at the time despite the offer being 4.8, but it was still live.
The more I think about it... Ben I am really _very_ disgusted with you.
Just as discussions were turning constructive and factual, the sharing of specific bond term and listing rules - you come out with something that is a flat out lie. Being misinformed, or uninformed, is one thing, but dishonesty is something else.
>I'm currently waiting on 3 companies to give half yearly reports at end of Sept - no issue not sure why anyone would focus on that.
I have raised the fact that the date that they had schedule for the report release has been removed from their website.
>I find it odd that snooz was recommending this share a matter of weeks ago when the price was around 5p - just because he got burnt and bailed out at a huge loss has made him hate the company but that is just testament to his poor analysis and judgement I'd say.
Absolute fiction that I have recommended this company at around 5p at any time, let alone "weeks ago" (it hasn't been 5pm for far longer than that).
Really disgusted with you Ben, go look at yourself in the mirror and think about what you've done.
A small trade of 1000 could end up nothing or ten thousand