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Dividing each share into two is just a way of raising new capital if needed as they are technically unable to raise anymore capital using the existing share capital
The Directors of the Company independent from the LC Loan Agreement Extension and Warrant Amendments, being the full Board, consider, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, that the proposed terms of the LC Loan Agreement Extension and Warrant Amendments are fair and reasonable insofar as the Company's Shareholders are concerned.
You are not reading it right, as per the RNS it is a reorganisation to reduce the nominal value of the new ordinary shares,..
"effected by each Ordinary Share being sub-divided and converted into one New Ordinary Share of £0.0001 and one Deferred Share of £0.0009. The New Ordinary Shares will continue to carry the same rights as are attached to the Ordinary Shares."
All of the value will be retained in the new ordinary shares,..GL S
90% of holding to be converted to deferred shares which can be wiped out at the companies discretion????
LC on 41m warrants which I assume will be converted into ordinary shares once the total nunber of shares is essentially a tenth of what it is now.
Am I reading this right????
Is it true or not that LG would stand to gain a larger tax concession against future profits at Barryroe if he took over LOGP? If it is true, then he would be keener to buy out LOGP shareholders, it seems to me, and so make the purchase all the cheaper for him and heirs in the long run.
Remind me to engage you to write my obituary when the time comes! While I'm in the land of the living I'm slightly concerned about the consequences of LOGP de-listing. I am determined to remain a shareholder but I can envisage de-listed shares being evicted from my ISA at a lower price than I paid so I will then face CGT from that point.
I can't be the only investor facing that prospect so a takeover offer before de-listing would be very welcome!
News shortly thereafter from LOGP would be very welcome.
Big week coming up with vevan deciding on their business plan.
Larry Goodman attending Ben Dunne's funeral today.
https://www.irishexaminer.com/news/arid-41278912.html
Dunne blotted his copybook some years ago, first when he was kidnapped by the IRA and the company "so it is said" paid a ransom to the IRA to set him free. Second when he went a "Bit" wild in a hotel in Florida, then when he lost control of Dunnes to his sister. Made a few bob when he set up a number of gyms.
Had some dealings with him many years ago in both business and golf. Silver spoon in his mouth from the business but absolutely useless at golf. Spent thousands on golf clubs trying to buy a game but failed miserably.
May he rest in peace and may Larry leave us shareholders a bit more than 5% of Barryroe when he pegs it.
The current Irish government clearly cares more about praise from woke media than their own people,” said Musk in a further post.
Hard to disagree with this recent comment.
Current thinking is that there will be a general election sometime next year, probably about November.
When that happens, the government will be a combination of either Sinn Fein and Fine Fail or Sinn Fein and Fine Gael. There wil be no place for the Greens and either combination will have enough seats to form a majority.
That will be the end of Ryan in government and hopefully he will lose his seat as well.
So the prospects for Barryroe and Lansdowne will significantly change at that stage given that Ryan will no longer be there to hold the government to ransom as he has been doing for the last four years.
I think the greens will lose seats in the European elections in June and I think the local elections that will be held at the same time will see even bigger losses for the greens as people are going through a cost of living crisis and will hold the greens accountable for all greens taxes they have imposed on people.
Any news or gossip around Dublin about what the next RNS is likely to contain? Will ER be history sooner than we think? It’s at that point the LU will be restored, not only to avoid litigation but to do the whole country a real favour as well. I think a new government would act really fast on this. It seems ER is safe for at least a year. Will Boldy even bother talking to ER?
Maybe he has to observe the formalities and stay on side until proceedings start.
This is about to get interesting.........
Well Battle, we've planted loads of trees on our acreage in the last 5 years so maybe that'll help with pulling the CO2 !!
Fully understandable. Eamon Ryan is fully aware of the financial destruction that he has inflicted on thousands of small shareholders in Barryroe and he doesn't care. Ireland could increase its emissions ten fold and it wouldn't make any difference to climate emissions. He is placing himself as one the global leaders when it comes to climate change and the citizens of Ireland have to pay for it. The only good news is that the Greens will lose a lot of seats all across Europe in the European elections that are due in June. The Greta Thunburg affect that brought them to power five years ago isn't there anyone. If anything there is a resentment towards the Greens this time round. Bill Gates mentioned the same when he recently said that the only way to reach net zero is back technologies that pull CO2 directly from the atmosphere, as he believes that renewables aren't going to have a big enough affect and people have turned against the Green movement because they are being forced to pay for climate change.
Battle, maybe some of the ex-shareholders of Barryroe aren't the fully law abiding sort, unfortunately I'm in the law abiding camp, and Ryan will be dealt with in another way ?!! There's no Irish law against being pleased if his house is blown up some night !!
Manyana, surely ex-shareholders of Barryroe should also be compensated from any awards made to Vevan using the ECT ?
They should of course Clued if their legal team think they have a case. That is what the ECT is there for. I would like to see Lansdowne get their case underway as Eamon Ryan will do everything to run down the clock on the six month period during which the case can be taken. The fact that he replied to Lansdowne on the very last day to acknowledge their letter is proof of that. The Green movement will do everything possible to prevent either Larry Goodman or Lansdowne taking a case under the ECT so as polite as Eamon Ryan is pretending to be, make no mistake, he wants to destroy Lansdowne. He has already destroyed the shareholders in Barryroe Offshore Energy
Battle, don't know why the likes of Harbour Energy (HBR) and others materially negatively affected by the UK EPL don't also throw their hat in the ECT ring. The EPL is obvious thievery burdening the likes of HBR with 75% tax.
I think LOGP’s case is stronger and much more clear-cut than this.
Looks like the ECT is getting another run out in court
https://www.theguardian.com/world/2023/nov/20/eu-germany-and-denmark-sued-by-oil-firm-over-windfall-tax
The guy ought to be strung up for treason like in the good old days. I have an idea, LOGP sue him for the 300million, then lease home a ship connected to floating platform topping up the gas from Barryroe
“In those circumstances, we would take the lease option because it is lower cost."
Er, really? Don't think he understands how leasing works. If it were cheaper then the leasing co would be losing money. Unlikely.
Surely the state can borrow cheaper than a leasing deal?