IOG.L Share Chat (IOG)

It would be interesting to know what has happened to BOD shares looking at the ceo's purchases Rupert newal through the past year or 2 it equates to over £100k in purchases at discounted offer prices.

Has he been selling down or a transfer of ownership maybe?

Is this still in progress or a dead duck?

Not enquired yet.. Was waiting on the interest to see if worthwhile..

Oh dear.... I thought this was such a good share once and traded it a few times. Lucikly I didnt get back into this trainwreck of a share. My deepest consolations....

All assets will be undervalued and sold, shareholders have no rights. FSA are useless. Administrator’s are just as useless.

When will I get my share of any money left? Or won’t I?

I wouldn't worry about it to much now. RIP.

The horrible thing is the Board are still in Place taking their huge salaries while shareholders and creditors lose fortunes for their failure and incompetence

RLL93

Debtors owe the business money. You pay CREDITORS with the sale from liquidation. Your ignorance doesn’t help people losing money here.

The Company has no current intention of appointing a replacement Nominated Adviser."

"As a result of the Administration, Cavendish Capital Markets Limited and Peel Hunt LLP have informed the Company of their resignations from their roles as Nominated Adviser and broker respectively, with immediate effect. The Company's shares remain suspended from trading and pursuant to AIM Rule 1, if a replacement Nominated Adviser is not appointed within one month, the admission of the Company's shares to trading on AIM will be cancelled. The Company has no current intention of appointing a replacement Nominated Adviser."

Has a replacement Nominated Adviser been appointed?

It's going to be a month real soon!

Mate you won't get anything because she share went down before you sold, that's how it goes sometimes. Neither will anyone get anything their gone, any value will be distributed / sold to pay debters and the average gut is left holding the bad. Had this done twice to me before, but luckily I seen the writing on the proverbial wall via countless RNSs .

I sold out at the July RNS, having bought a very large sum at 40p - essentially lost it all.

Am I still eligible to join? I am assuming no, as I was not a current shareholder at the time administration was formally announced, but thought I’d ask the question anyway…

Good luck to all fighting this inept BOD

That would be better for IOG holders if they did something similar

Is there no scenario where the company is able to exit administration after eight weeks as a going concern? the extra revenues would suggest that a (restructured) bond could be serviced while other assets are brought on board. Surely that would be a better outcome for bondholders compared to a firesale of assets?

Gas prices have doubled from the time of the bond waiver RNS on the 3rd of August! Who is this extra money going to. I hope the legal team looks into this, by my calculations IOG are making 4 million pounds extra a month now!

I don’t know name ? But just average your price paid and put the totals etc in 👍🏻

I tried to sign up. Not sure if I managed to do that or not. Although signup only asked for one transaction I had many and quite a bit invested here. The directors should be barred from ever running another company. Their ineptitude is monumental

Https://shoutout.wix.com/so/d2OjrRPKQ?languageTag=en…

IOG shareholder campaign.

News Update 28-10-23

INDEPENDENT OIL AND GAS PLC NOW IN ADMINISTRATION

The IOG shareholder campaign has started.

Are you onboard?

Https://lifephotographic.wixsite.com/iogaction

IOG shareholder campaign.

News Update 28-10-23

INDEPENDENT OIL AND GAS PLC NOW IN ADMINISTRATION

The IOG shareholder campaign has started. Are you onboard?

What's happening?

Ordinary people like you and me made the decision to invest in a UK gas company that had been referred to as the ‘jewel in the crown’. On 28th September IOG put itself into administration, and with one simple RNS shareholders investments were all but written off.

IOG RNS 28-9-23

"The Board are extremely disappointed to draw this unavoidable conclusion, having worked exhaustively to overcome the Company's financial circumstances. We have not found a viable solution that would provide a return to shareholders. We regret the impact this outcome will have on our many stakeholders. I want to thank everyone involved, especially the IOG team, for their efforts through this very challenging period."

In a joint effort initiated by shareholders on 28thSeptember, questions are being asked.

These questions are being posed to the right people; they aren’t always being answered but that doesn’t stop this campaign gaining momentum.

One month on, where are we?

· We have secured expert legal representation

· Financial backing has been secured

· We have it in writing that administrators are only acting for the creditors (as shareholders, we are not creditors)

The lawyers acting on our behalf have previously brought down a fraudulent unregulated bond, saving many UK investors from investing more money and trying to recover their initial investments. This is their specialist area.

The legal team are in discussions with an administrator who is ready to represent our group of shareholders.

A term that will crop up in this process is ‘weaponised insolvency’. This relates to an IP’s ability to seize and sell assets, often making secret deals with buyers looking to profit from a company’s financial distress, particularly where that distress has been engineered. This is something that is being explored by our legal team.

All-Party Parliamentary Group (APPG) has already been convened to deal with what has been coined ‘weaponised insolvency’.

Our lawyers have already briefed Members of Parliament on a previous (APPG) in preparation for a televised question time that led to the first ever vote of no confidence in the Financial Conduct Authority.

Shareholders are joining together in this campaign to get answers and to correct this wrongdoing. Did the board of directors ‘work exhaustively to overcome the Company's financial circumstances’? What was worked on to overcome the company’s financials? Why were the half year financials not released?

Register for general updates:

If you haven’t already, register your details to receive general updates.

Click here to register

https://lifephotographic.w

IOG Shareholders announcement.

We have secured expert legal representation and ​a pledge of funds to challenge what is happening & we need your help.

​IOG shareholders are now being legally represented and have a team working to correct this wrong.

Sign up to this group to join the growing number of IOG shareholdsers.

As individuals we now have a joint voice

JOIN HERE

https://lifephotographic.wixsite.com/iogaction

It may depend n where your shares are held, in a trading/share accountor SIPP they should remain there until whatever happens, happens, If your shares are in a ISA they cannot be held there following suspension, and should be moved to a trading? share account

Just had the email.

It says..

What has happened?

The board of IOG Plc has announced that the company has been placed into administration with effect from 28 September 2023.

What will happen to my shareholding?

The shares will remain on your account until the administration has been completed. Once formal notification has been received from the administrators that the process is complete, and the shares have been cancelled they will be removed from your account.

I have had no such message, i'm with HL also?

Just had a message from HL to say once the administration process is complete, my shares will be removed from my account. So looks like its all over.