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For those considering the cash offer and holding shares via Halifax then a Corporate Action is now available.
Thanks for the update. Has anyone heard back from Hargreaves? Will you or other shareholders out there be taking the cash offer or hoping the shares will get relisted? Will the Board and Lekan come to a compromise? Can’t believe when we are in an oil rally and they are not making the most of it! Thank you all and all the best!
I have elected to exchange my shareholding for cash (break even). My initial thought was to reject the cash and hope that Lekoil Nigeria gained sufficient power that they could relist and energise the share price...but my view now is that there may very well be more in-fighting if LekoIl Nigeria do gain a good % of shares. If they are re-listed, you can always buy back in at that point if you want.
Cash Offer by Lekoil Nigeria Limited.
1.9 pence for each Lekoil Limited share held.
You Have The Following Option:
1 Accept the Offer on your holding
We will process your instruction on or after 14 February 2022 23:59 and your election will be applied to your holding at this time. If you elect to accept the Offer, your shares will not be available for you to sell, or to accept any other Offer unless this Offer lapses. Please note that if you accept the Offer and proceed to sell your shares, you may be liable to buy back costs.
No price at present are they trad able ?
No share chat before today ?
I'm electing to take the cash. I'll have something like a £1k loss, but will buy back IF I see the cash and IF the shares are relisted!
I’m holding. In for a penny in for £.
Wouldn’t cope if I sold and the next time I looked they were 20p
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.