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sounds like good news! plenty of upside from the 1.9p offer me thinks.
I got the extension offer from my broker II. I have until end of March I think it is to decide. 31 March.
PS, I also think ( I'm not checking as cba ),
"ONCE" you submit your offer, it will take 60 days for the money to come in.. Maybe that's why I got mine early ? ?
SL100, yes you could submit a percentage of your holdings for the offer.
I did it after a weeks contemplation only. The risk is too high, it's been an absolute joke of a situation and unprofessional on a grand scale, so wanted out but kept 25% for viewing purposes in my Portfolio out of interest what doe's actually happen and willing to lose the 25%.
I missed this so pleased to read I have more time , no news of that from Halifax/ iweb
sent a secure message to HL to accept the offer from Lekoil 'the oil producing company' Nigeria to buy my small 100k Lekoil 'people doing nothing in an office' plc shares on 14/2/22. No answer so far. Perhaps HL did not like my attempt at sarcasm lol . GLA, Dan
LeeRex- sorry for intruding but can you sell some and keep some. I thought from some other posters that you had to sell the lot? Can you advise?
Thanks LeeRex, that's helpful.
A good few weeks back submitted %’s. Say 3 weeks, maybe 5 weeks it’s been like Groundhog Day for a while working from home..
Shortly after I submitted it created 2 lines, with a value accruing to the offer price, the 2nd line at zero still.
Then just after I posted first time checked emails, and cash in..
Good luck all what ever you’ve decided
Good to hear LeeRex. When did you submit your Corporate Action response? Would be interesting to know the time gap between your submission and their cash payment.
I noticed on my trading platform that the LEK line has changed its naming convention to show 'Tender Interim Share' as well. Obviously it is being processed therefore.
UPDATE..
Just checked my AJ Bell.. 75'000 shares has been taken and the funds already into my account!!!
I only have 100'000 shares, I submitted 75% approved, 25% leave in, with hope and luck of the gods..
Total Farce though, both parties dragging it out disgracefully in a business and professional sense..
given this extension I too will hold onto shares for now. nothing from my broker about an extension though. there was a deadline of the 14th feb to reply to the offer.
i will be holding on to my shares at mo, but that could change lol!
finally got a email back from lek investor relations! one out of three not bad lol. ------------------- Thank you for your email. We did not receive your earlier emails, which we will investigate. Whilst we can not give investment advice, the Board has recommended that you do not sell your shares because the offer undervalues the Company. We note that Lekoil Nigeria has extended the offer to 7 April 2022. We would advise you not to do anything at this time until Board provides a further update on the Lekoil Nigeria offer. We expect we will do that shortly.
this doesnt tell us much more, but does at least say that more rns should be forthcoming gla
Yours sincerely
Lekoil Limited
Are any shareholders holding on to the shares? So what will happen to those who decided to sell their shares and the shares get relisted and they still have not receive the cash offer?
Latest RNS, though I wasn't sure at first if I may have landed on a cloned fake site. The whole Saga is unusual.
https://www.londonstockexchange.com/news-article/market-news/deadline-extended-re-offer-to-acquire-lek-shares/15324430
The RNS this morning shows that Lekoil Nigeria are accumulating shares in this period where the shares are frozen. That likely means that they are either securing shares directly/privately, or via the ongoing process that we are seeing now being extended. That suggests to me that money is there to accumulate these shares which is good news for those that want out of this s**tshow.
The extension appears to be because of issues with Computershare not playing ball. A number of us on here are having issues seeing a Corporate Action, or it took a while for it to drop into our trading platforms. In my own case, my CA came in on 18Jan, a full month after the process started. Other trading platforms likely got this earlier, and some are just getting it now. It seems therefore like Lekoil Nigeria are possibly processing shares for cash where it has been registered already and have extended to ensure they can reach all other shareholders that might want in?
Shares for cash is processed after 21 days as per the offer doc. That is roughly the time elapsed from this morning's RNS and the last RNS indicating an increase in Lekoil Nigeria's holdings.
Just my $0.02 worth.
Superbobgod, Yes Feb 11th is my broker deadline with Jarvis. They said the cash offer is something they can 'accommodate' but if I was to chose the Lekoil Nigeria B share offer, then I would have transfer out of the nominee and deal 'direct' with Lekoil Nigeria.
im guessing that there are not as many shareholders selling up as they would of liked! due to another extension , in their scramble to buy shares up. still at least it gives us more time to decide, if we need it? gla.
Deadline extended to 7 April - hopefully gives board of LEK time to offer plan B.
Looks like Lekoil Nigeria is desperate to acquire as many shares as possible if they keeps extending the
deadline every time. Is that a good sign? Wonder if the shares will ever get relisted!
I had similar response from HL and it is very concerning considering the deadline is next week. The silence from the Board as well is not helping either. They told us to stay put but there has been no update since. Useless board we have! If they did their job properly, we would not have been in this mess!
Hi Nick - Hopefully you can see my post on a separate thread to save me re-typing.
I am even more concerned by this 11th deadline you mention and HL saying their CA team are still in consultation. Is the 11th a hard deadline or just one set by your broker?
HL are still telling me that a Corporate Action has not been approved and it doesn't 'qualify' as a Corporate action because Lekoil have advised against selling shares to Lek Nigeria. I have argued this with HL and asked why Halifax are helping their PI's and HL appear not to be. The reply I have received yesterday says 'We can't comment on what service Halifax maybe providing but we are in discussions with the registrar as to what the options are and will be in touch when we know more'
This is a bit concerning (as is the whole situation) when the deadline is the 17th isn't it?
My position is I am very much hoping that I can accept the 1.9p per share as I feel its the only way to see any money from this suspended share and I was in at only late on at 0.94p. I do not want to run the risk of 'Demart' my share and sending it to Nigeria though and would rather this was done via a broker like the Halifax guys are saying - or that's my understanding of what they are saying anyway.