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Started: ripley94, 28 Mar 2022 14:45
Last post: ripley94, 7 Nov 2023 19:11
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
EGM just a week away now. Need to get this out of the way before any chance of the shares getting trading again.
Thank you both , I will post when I web catch up , there platform annoys me but they seemed to be ok with C.A in the past .
Started: Trolleyman, 5 Jan 2023 19:57
Last post: downbutnotout, 18 Mar 2023 09:41
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.
Started: GordonAlbert, 18 Aug 2022 23:11
Last post: DelbertGrady, 2 Sep 2022 13:28
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
Started: GordonAlbert, 17 Aug 2022 17:17
Last post: InnuendoBingo, 18 Aug 2022 14:54
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
Started: PollyPicker, 17 Aug 2022 11:54
Last post: komakino, 17 Aug 2022 14:50
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.
Started: SL100, 13 Aug 2022 16:22
Last post: SL100, 13 Aug 2022 16:22
Hi - has anybody got experience with selling Lek shares on ASQE.
Appreciate any experience on process etc.
Thanks
Started: DanielC43R, 4 Aug 2022 16:41
Last post: mark99999, 4 Aug 2022 22:11
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
Started: downbutnotout, 25 Jul 2022 14:50
Last post: DanielC43R, 29 Jul 2022 14:50
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.
Started: mark99999, 11 Jul 2022 18:55
Last post: downbutnotout, 21 Jul 2022 16:58
good. i'm waiting.its my b-day next week and I have 1 million shares. i'm preying it opens at 10p!
re my last message- saying that i had had a reply from lek that they were to re-list in 1-2 weeks! they are leaving it blimmin late! they only have today/ fri to send out an rns!! poss mon? well if we dont get the rns by mon latest, ill send them another email, prob get an answer in a week or two! if at all. they really are useless bistards/ or lying bistards or both? gla.
Thanks Mark
yes on aqse. i also never traded it! i am with barclays stockbrockers, and you can trade that with them, so i understand? gla
Re-listing- presumably on AQSE? is it easy to buy and sell on this exchange. Never used it before. Thanks.
Started: SL100, 7 Jul 2022 11:21
Last post: JoeArther, 9 Jul 2022 11:42
I transferred mine into HL from HSBC without converting to certificates. The shares are sat waiting to be traded when the day finally arrives!!
Okay Joe - thanks for that. All the best.
Hi - anybody got a view on how to sell these shares on AQSE? Thanks in advance.
yes me too, was warned never invest in africa, so corrupt. gla
What a fool I was to invest here!
wtf is going on with african piece of rubbish? at least we were getting rns from the last lot, who recently now gone! now it seems its back to the office being empty again? trying to contact investor relations for news, but no reply! anyone got any updates? gla
Started: komakino, 15 Jun 2022 08:52
Last post: JoeArther, 1 Jul 2022 15:59
last day of the month tomorrow. maybe litigation issues are the reason for the delay in shares getting trading again.
should get some news soon. last week of this month we were told shares would trade again.
c/o TIL on SAVE board
LEKOIL (AQSE: LEK), the Cayman Islands litigation asset company with an investment in oil & gas assets in Nigeria, is pleased to provide the following update in respect of the litigation commenced by Mr. Akinyanmi in New Jersey.
As originally announced on 24 September 2021 (and most recently on 5 May 2022), Mr Akinyanmi commenced an action in the Superior Court of New Jersey, alleging (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 challenged the jurisdiction of the New Jersey court to hear the claim and the Company has been successful in its application. The case is now stayed until further notice pending arbitration. Following this decision, the Company will continue to pursue the recovery of the CEO loan in the appropriate jurisdictions.
Commenting on the New Jersey judgment, the Company commented:
" We are pleased to have won the New Jersey judgment and note that it calls into question the wisdom of Lekoil Nigeria funding the expensive personal litigation costs of Mr. Akinyanmi. We would urge Mr. Akinyanmi to immediately pay the amounts outstanding under the CEO Loan rather than require the Company to pursue yet more litigation."
https://ir.q4europe.com/Tools/newsArticleHTML.aspx?solutionID=2064&customerKey=lekoil&storyID=15457096&language=en
Started: zarqhon, 31 May 2022 15:23
Last post: zarqhon, 31 May 2022 15:23
Just for reference here is LEK on AQSE.
GLA.
https://www.aquis.eu/aquis-stock-exchange/member?securityidaqse=LEK
Started: nozzla, 26 May 2022 12:52
Last post: JoeArther, 31 May 2022 11:59
I think Hargreaves Lansdown and Barclays trade them
Well it looks like i actually got my shares bought in the 1.9p deal a while back. I requested it ages ago, but cash showed in my profile last week. Good luck to all those who still hold here.
Last post: Saints76, 26 May 2022 16:05
Thanks for that, will get it sorted and hope for the best!
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?
Started: Jshodgson, 23 May 2022 15:05
Last post: fcw123, 23 May 2022 19:10
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.
Started: komakino, 20 May 2022 14:22
Last post: komakino, 20 May 2022 14:22
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?
Started: Trolleyman, 16 May 2022 12:31
Last post: InnuendoBingo, 18 May 2022 11:01
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?
Started: downbutnotout, 16 May 2022 08:17
Last post: JoeArther, 16 May 2022 09:22
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?
Last post: mark99999, 11 May 2022 16:48
was hoping for bigger news!! but at least its not negative for once! gla
Started: LondonSouthEast, 13 Apr 2022 16:45
Last post: SmallInvestorCal, 14 Apr 2022 15:05
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.
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
Started: BigBear2, 13 Apr 2022 17:18
Last post: downbutnotout, 13 Apr 2022 23:44
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
Started: SL100, 13 Apr 2022 09:46
Last post: EM202020, 13 Apr 2022 16:42
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?
Started: LondonSouthEast, 12 Apr 2022 12:08
Last post: SmallInvestorCal, 13 Apr 2022 07:53
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
video unavailabe - is there an alternative source, please?
Lekoil Nigeria petition to wind up the company means ALL shareholders get nothing…lekan is a criminal imo
Small investor cal/lekan….wind your neck in…SAVE have saved the day and you’ll probably end up in prison you thieving bugger….save deal will get shareholders their money back and more so quit crying….looking forward to lekan sending $350 million back to the company
Some light at the end of the tunnel perhaps!
Started: bear_with_me, 25 Mar 2022 14:53
Last post: Biker888, 9 Apr 2022 12:13
Hey Biker, did you get your cash for your shares?
Just got paid out despite the offer being put on hold. I guess it must have already been processed before the offer stop was announced.
Good luck to all still in this disaster. I have broken even, but I know others are knee deep.
I really hope the Lekoil Cayman board can turn this around but I still wonder how it can get relisted when they need to show how the relationship works with Lekoil Nigeria. They should've been ready to hold the socially distanced EGM in the days immediately following the last court ruling, not almost a month later.
If they can get it relisted and the relationship sorted, then this will surely appreciate.