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You fill in a form on your HL online account (or you can download it) and then HL pick it up and request the shares from your current broker. One thing it looks like you can't do is to hold them in an ISA due to the market they will be traded on (or at least that is what my broker told me)
Got letter form HSBC today. Really not sure how this works, how do I transfer these to my HL account?
My letter says they will try to register in my name!
Had my letters today from HSBC explaining that they cannot hold my Lekoil shares now that they have been cancelled from AIM. I have the option of having the share certificates or moving them to a new broker (free of charge). If I don't do anything by 16th June they will just send me the certificate by post.
Full article is available at https://www.thecable.ng/corporate-takeovers-contextualising-the-savannah-move-on-lekoil
POSTSCRIPT
Some analysts believe that the impasse between Lekoil Nigeria and Lekoil Cayman has become more complicated only due to the involvement of third-party adventurers. The acquisition of shares on the cheap and the subsequent surreptitious attempt by Metallon to take over Lekoil Nigeria assets, set in motion the twists and turns in the tale that has been over the past several months.
One must ask this question; did Metallon read the Lekoil shareholder agreement before it set about its takeover manoeuvrings? Was Savannah Energy made aware of that agreement and did it pay adequate attention to it before getting entangled in this messy affair with Lekoil Cayman?
The Lekoil shareholder agreement was apparently overlooked by Metallon and so has Savannah Energy in this apparent takeover bid. That agreement effectively prevents any entity from taking possession of Lekoil Nigeria assets, without due process. And it does seem that the assets are the ultimate target of those seeking a backdoor control of Lekoil.
So, why is Savannah Energy boldly proceeding on this course? Is there something that Savannah Energy knows that nobody else does?
I think I would join you in that! Anything to recover some money and get out of this mess would be welcome!
the RNS didn't sound positive talks about just recovery of debt. not expecting much of a pop in the sp if i'm honest. what do others think?
Some encouragement to be taken that trading will soon resume!
Any thoughts or predictions on the likely sp?
Actually, scrub that. Going on to the dealing page displays this message
'British Honey Company Plc ORD GBP0.10 cannot currently be traded online. For further information about trading this security, or to obtain a current price, please telephone our dealers on 0117 980 9800 during market hours. Please note that if the buying and selling price quoted on this page are the same it may not be an accurate price.'
so looks like it'd telephone dealing. Either way it does appear to be tradeable.
It looks that way from first glance. This is a list of the companies on AQSE and Hargreaves Lansdown seem to offer the usual trading facilities for the couple of companies listed on there I've just looked at.
https://www.aquis.eu/aquis-stock-exchange/companies-and-prices
thanks. I was going to post that same link! I wonder if you can trade in real-time and get a live quote.
All the main brokers trade on it
https://www.aquis.eu/aquis-stock-exchange/for-investors/retail-brokers
Notice of application for admission to the Aquis Stock Exchange and Cancellation of Admission to trading on AIM.
LEKOIL (AIM: LEK), announces that it has applied for admission of its Ordinary Shares to trading on the Access segment of the AQSE Growth Market operated by the Aquis Stock Exchange (AQSE). It is expected that admission will occur on 18 May 2022 and that trading will commence on AQSE as soon as the audited accounts for the Company are released to the market, expected to be by the end of June 2022.
never heard of AQSE. Any traded shares on this exchange before and if so through which brokers?
was hoping for bigger news!! but at least its not negative for once! gla
If it is ok with you, SmallInvestorCal, and thanks for the warning, but I think I’ll stick with Hawkins and SAVE and see what happens once we get to the Nigerian Courts. I’d hope that SAVE’s external lawyers took a read of the legal docs before they invested and gave a high probability of success otherwise, why would SAVE have invested. Are you saying SAVE are stupid?
“Currently drilling wells” with money that should be being paid up to Lekoil plc in accordance with the agreements Lekoil Limited entered into in [2015] in order to raise the $200m or so from the shareholders of Lekoil plc or so. I think you need to add this to your chat for completeness.
I feel alot better after watching that video that things will progress from here. If/when the shares get trading again it will be restructured and hopefully the oil price will be sky high.
Just be a decent company here when corporate governance is sorted
After a turbulent two years, LEKOIL (LEK) is working diligently to get its shares unsuspended so it can list again and shareholders can trade.
Interim executive chairman Anthony Hawkins says, “That’s been very high on our list for a long time and we’re working very diligently to tick off the things that are needed to get the shares unsuspended.”
While Hawkins can’t say what that checklist is for the Nigeria and West Africa focused oil and gas exploration and production company, at the heart lies a corporate restructuring which has been a priority since the company had a ‘Fake Sheikh’ fraud perpetrated against it.
That was in 2020 and since then LEKOIL has dismissed its founder and former CEO, experienced shareholder activism and a takeover attempt. Hawkins says litigation will continue to rumble on in the background, but this shouldn’t be defining narrative of the company.
As Hawkins reminds investors LEKOIL, “has a good asset base, a producing field in Otakikpo that is producing roughly 2000 barrels of oil to the day net to the company, a number of exploration appraisal assets, and we think with the right corporate governance and the right controls that can be a very profitable business and one that can grow as well.”
The board is being supported by cornerstone investor Savannah Energy (SAVE), which according to Hawkins, “have an option agreement to purchase the OPL 310 loan for us which will give us more liquidity and they can help us unlock value in Nigeria through their restructuring expertise. They have a very impressive track record in Nigeria, a very material business in Nigeria and are an ideal partner for us.”
Watch the full video here - https://youtu.be/uX8r7JL-e1Q
Available again for viewing
Lekoil Nigeria probably went to court to get it taken down just like anything else coming out of Lekoil Cayman.
there was a link posted yesterday. I watch the video maybe not all of it. link not working now.
I can't find it. Tried every link on the website but no joy.
Hi - anybody found that interview on their website?
Give over fool check your previous posts….every single one about Lek and all against any action the company does…you’ve lost….accept it and let proper shareholders get some value rather than the 1.9p you offered and now you want to wind up the company….where’s the value for the shareholders if it gets wound down????….you’re a criminal imo