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Hi - anybody taken up the offer and appreciate any advice etc. Many Thanks.
Thanks Joe for your comments. So we appear to have got an extension if we choose to take up the offer.
I'm undecided at the moment so need to have a good think!
If we see no sign of a relist in the next month, i'll be taking the offer up and getting my cash back.
Hi Joe- do you have the link to say that we got a months extension. I note from the offer document that payment is 60 days after acceptance. Will we get paid?
Interested in seeing the link. Thanks
Thanks Joe - appreciate you taking the time to reply.
Hi Joe - found it but it wasn't an official RMS as far as I can see. I propose to contact company directly as you say.
Thanks again
I have decided to take the offer.
I sent an email to: offers(at)lekoil.com
as per the link below, I will update this thread if/when I receive a reply.
https: www.londonstockexchange.com/news-article/market-news/update-re-offer-to-acquire-lekoil-limited-shares/15282011
According to my stock broker letter (my LEK shares held in a Nominee account), If I accept the offer I will need to withdraw my holding into my own name (presumably get a share certificate) and then apply directly.
At this time I have no idea where I would even post the share certificate to? A Nigerian address perhaps? Yikes!
At the moment it looks like I won't be doing anything much but see how it plays out, perhaps even to oblivion.
All the Nigerian associated shenanigans whilst following this company. I should have known better.
Nick- couldn’t agree more. No wonder the African continent is in the state it is !
just wondering how this vote pans out, if a 1/3 vote to accept and 2/3 to keep shares or do nothing, does that mean that that the ones who have asked for payment will receive funds or will it be a majority decision overall
Clouseau I think if you opt to sell your shares then it won't matter if others choose not to do so.
I don't think it's a vote but a strange attempt to buy shares by 'Lekoil Nigeria' that I understand us shareholders are supposed to own already as a subsidiary of Lekoil Ltd (ie our company).
How does anyone know they will even get a cheque or electronic payment from Nigeria if you don't do it through a UK based registrar and broker arrangement.
LATEST UPDATE
11 January 2022
Lekoil Nigeria Limited
("Lekoil Nigeria")
UPDATE RE: OFFER TO ACQUIRE LEKOIL LIMITED SHARES AND POTENTIAL **************
(The Offers")
LAGOS, Nigeria. 11 January 2022
Lekoil Nigeria has today written to Lekoil Limited requesting that it instructs Computershare, Lekoil Limited's registrars, to co-operate with Lekoil Nigeria in respect of the Offers.
Lekoil Nigeria has made a number of requests directly to Computershare but to no avail. Lekoil Nigeria is receiving strong indications of interest in the Offers but recognises that shareholders are unable to accept the Offers at this time.
In view of the difficulties faced by shareholders, and pending a response from Lekoil Limited, the Board of Lekoil Nigeria has decided that the deadline for acceptances should be extended by one month, to Thursday 17 February 2022. All other terms and conditions of the Offers remain the same.
In the interim, if any shareholder wishes to accept the Cash Offer they are invited to send an email message to offers@lekoil.com and Lekoil Nigeria will provide instructions for the immediate direct acquisition of their shares.
For further information, please contact:
LEKOIL Nigeria Limited
Hamilton Esi, Corporate Communications
+234 810 642 1047
Hudson Sandler (Financial PR)
Mark Garraway
+44 (0)7771 860938
-end-
I’ve opted to take the cash. There is so much shadiness going on here that despite the new board members etc, they are fighting an uphill battle.
Luckily I bought in at 1.2 so that’s a good return.
The whole defrauded by fake Qatari investors etc is like something out of a comedy sketch. Except it’s not funny.
Interestingly II told me as it’s an AIM share they do not automatically send voting emails to accounts so I have registered by intention to take the cash directly via secure message in teh app.
Offer extended till the 10th.
Either not enough take up or Lekan really want's the shares... Trouble is, if you don't accept the offer, there is no trading platform for them, so supposedly worthless anyway ?
Given the shares were suspended on the 1st October 2021, all the delaying tactics, are just playing into their hands. Given the shares are listed on the London exchange, a reporting of the shady dealings perhaps should have been referred to the SFO, as I suspect we don't have half the information we should have. IMHO. GLA.
So Lekoil Nigeria have nearly 10% now. Definite chance they get above 50% through their offer! this is definitely what they'll be looking to do.
@Nozzla, if they do significantly improve their shareholding, then what do you reckon? Lekoil Nigeria is building a stake for a reason and it surely includes significant influence on the Cayman company, relisting and a share price rise?