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Posted today on Fenikso (FSK )
Might get something back .
( D ) has this as last price , means nothing most probably... 17/06/2022 01:00 GBX 0.95
Just seen this so might be some worth in it . ( Also seen in ( Wi )
Thu, 8th Dec 2022
Lekoil to change name to Fenikso as reaches legal settlement
Lekoil Ltd - Cayman Islands-based litigation asset company with an investment in oil & gas assets in Nigeria - Lekoil Nigeria Ltd on Thursday confirms the announcement made by Lekoil Ltd late Wednesday that the two sides have agreed to end all legal proceedings against each other and settle all claims. As part of the deal, the two companies agree to surrender all shares in each other.
Lekoil Ltd agrees to waive all rights to repayment of debts owed by Lekoil Nigeria and Olalekan Akinyanmi, the former CEO of Lekoil Ltd. Lekoil Ltd also will grant a new loan of USD51.9 million to Lekoil Oil & Gas Investments Ltd in consideration for the transfer to LOGI of loans made to Lekoil Nigeria, the release of security related to those loans, and the waiver of any repayment due for the loans.
As part of the settlement, Lekoil will change its name to Fenikso Ltd and stop using the Lekoil name or brand.
On Wednesday, Savannah Energy Investments Ltd, a subsidiary of Savannah Energy PLC, agreed to terminate the option agreement that gave Savannah Energy Investments the option to take an assignment of a USD135 million loan between Lekoil Ltd and Mayfair Assets & Trust Ltd, a subsidiary of Lekoil Nigeria. Savannah Energy also will release its security interests over OPL 310, a Nigerian oil block, and all of its shares in Lekoil Ltd.
Lekoil current stock price: last traded on AQSE in London at 069 pence on December 1 for GBP5.5 million market capitalisation.
Just looking here as shares still on acc
Offer I accepted was cancelled it appears not sure if gone into administration
chat page moved to here:
https://www.lse.co.uk/ShareChat.asp?ShareTicker=FNK.PL
More like Fiasco!
It's going to be some time before we see a return from this company.
Hi. My shares also reappeared in my Halifax ISA account earlier this week. I phoned them to request a share certificate. Once I receive it I will then complete a CREST form to transfer to a normal general Fund & Investment share account with HL.
I went back to Halifax corporate team and explained the situation and after initially being told that there was nothing they could do, my shares reappeared on my account so I am now in the process of moving them to a new share account set-up at HL. HL have said that I won't be able to trade the shares online, but I will be able to make a phone trade. As an aside, Halifax also told me that because the shares are now traded on Aquis, they cannot be held with in an ISA... has anyone else been told this?
I received my share certificate and then asked HL to add them to my SIPP but they say they don't deal on that exchange. Has anyone else managed to transfer their shares to HL please?
Many thanks for your replies very much appreciated thank you both!! .....yes Oilypants that's what I am hoping to do but like you mine aren't showing either...if mine should come through I will post on here just as a heads up so you can check but best of luck
My shares have always shown on my Halifax account. I can’t do anything with them, you have to call, but I was hoping to just leave them in the hope they start trading again on AIM. Not sure if this is a viable option but I don’t see the point in paying more broker fees to transfer them unnecessarily.
I spoke with the Corporate Action team at Halifax. That told me that Halifax don't trade on Aquis so will need to transfer to a broker that does (I'm probably going with HL), but only once they are visible on my account. They said the shares would be visible after they stared trading again, but guess what...they aren't there yet. Haven't got round to chasing them up again but will soon.
Hello there does anyone have their Lek Shares with Halifax brokers? I held mine with them but they aren't showing on my account?...has anyone been able to trade from Halifax and convert on to this Aquais exchange? How is this done plz? Any advice is much appreciated thank you
PP, you can see the latest trades and share price here
https://www.aquis.eu/aquis-stock-exchange/member?securityidaqse=LEK
Anyone know what is going on with the share price here? On my H&L account it has shown the same price every day since it was relisted.
Hi - has anybody got experience with selling Lek shares on ASQE.
Appreciate any experience on process etc.
Thanks
thks for update daniel, i missed that one! will they ever sort themselves out? gla.
If anyone is interested, from the RNS today;
'LEKOIL (AQSE: LEK), the Cayman Islands litigation asset company with an investment in oil & gas assets in Nigeria, wishes to announce a development in the litigation commenced by Mr Akinyanmi in the Superior Court of New Jersey. He alleged (amongst other things) breach of contract in the termination of his employment contract in an attempt to set off such sums against the amounts owing under the CEO Loan.
The Company announced on 14 June 2022 that it had successfully challenged Mr. Akinyanmi's choice of the New Jersey state court forum as improper to hear the claim and the claim would be stayed until further notice pending arbitration. Mr Akinyanmi has now appealed the decision of the court. The Company will fight this appeal.'
GLA, Dan
Also received reply from HL confirming trade by phone only at 1% cost (capped at a max. £50 / min. £20). Will hold for now (only 100k shares held). GLA, Dan
Thank you JoeArther. Let's hope both parties can come to a compromise and we can at least recover our investment.
I have asked HL and they confirmed that it is by phone trades only unfortunately.
Will you guys be holding the shares long term in the hope that it will bounce back. If only they did not sack Lekan, we would have not been in this situation! hope it bounce back!
Price showing in my HL account but not able to trade online with them. Any thoughts ? GLA, Dan
some trades showing today.
https://www.aquis.eu/aquis-stock-exchange/for-investors/trades?securityidaqse=LEK
0.71 gutted sp below pre-suspension price.
agreed. fragile is worrying! ill check my acc and on here after the bell in morn. gla
my shares with ii. don't know how this works just have to wait until my broker gets the info so that I can trade my shares.
don't see any share price. showing as AQUIS:LEK.GB on my account.
the last RNS didn't sound too good.. "financial position "remains fragile"
went on to my barclays acc, says my lek shares are now worth 96p!! weyhey im rich. i hope they are adjusting, as they were worth a couple of grand yesterday! says the shares were live though? anyone else found out anything more today? gla.