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It's not worthless. Please use the actual share price £0.00085. Thanks. ;)
Sorry I am confused 0.88p please use the actual share price £0.0085. This share is worthless
Thanks
I read Bountyman’s post below at 09:31 on Wednesday. He talks about the “debt looming large” “company no more etc etc “
I know the debt has been the most discussed topic but it’s not as bad as most people think.
The convertible loan is for $20 million which has a conversion price of 0.88p/ share (I’ll type it again just to let it sink in 0.88p/share). This is not due until October 2019. If Landocean want to convert at that price then good luck to them!
The rest of the debt which is not due until April 2020 has very favourable terms.
It is not secured against ANY of the Assets!!!
It has 6% interest rate.
There are no covenants which could be beached. none !!!!
Let me know if I have missed anything!
Try having £21,000 in at an average of around 2.1p. not worth a bean, and of course not told the other half although this is certainly a bottom drawer share now which I've concluded was a bad investment and all but lost. If I ever do see my cash back it's a bonus.
You want a couple of cracking tips let me know. ....all the best mate ....pred
I feel your pain, my average is 13.5p and I've got £5k in here. If I sold it I'd barely be able to take the wife out for a meal on it - not that I've told her how well it's doing for obvious reasons.
Best wishes matey. How long was it. I think I'd rather walk out poor than Hop out rich!
I should steer clear of the AIM now unless you have other holding's. I isn't worth it. Ten years, I put around £5k into Landau's Pocket, now I have about fifty quid left. I can't see Range doing much, but it owe's me 15p per share. Those days are long gone, unless they strike it rich like Uncle Jed.
I'm still in MXO and it's a similar tale. Most small Oiler's fail and just a handful get through. MATRA was another, they delisted and although I only had a few hundred in it, the shares are now worth £25 out of £400.
Never again will I Deal here and I think the general opinion across the AIM these days is much the same. What will happen after Brexit, that could kill the AIM stone dead...or would it?
Good luck!
Chris (Photo)
Phil, it has been a long and arduous journey for Range and I would have given my right leg to walk out of here with profit.
Having sold out to use my money elsewhere does feel like a huge burden lifted off of my shoulders as the debt is something that is looming large.
I will not say that I will not be back in, and whilst there are definitely better investments out there, I would really like to leave Range in profit, I just don’t see it happening in the short term.
I genuinely wish all holders the very best (though I don’t want to see a spike in the coming weeks – ha ha).
Good luck in the future and I will keep an eye out.
KRO.
Bounty.
All the best bounty. I agree with all your points. We all need to move on with our lives, it just takes some of us longer than others.
Sorry to see you go Bountyman. I agree with all you say but I am holding just in case things turn round. I am prepared to lose the final 10% of my investment here but in the back of my mind I feel that the BOD or more likely the large shareholders are pulling the wool over my eyes. Only time will tell.
Read so many views and shares are at a mega low.Placing was .11p and now .085p to buy.Obviously it can drop to zero. Does this company have any real assets etc or is it doomed? The rnss seem so plausible Gla
So long for now,
After a couple of years of holding again, I sold my holding in Range yesterday. That was the 1.5m shares on ASX overnight and the 2.5m ish shares around lunchtime yesterday.
I have lost between 10k and 12k in the last couple of years in holding Range. This probably puts me at a slight deficit in the total time of holding Range as I had made money a bit on the way up to 24p and some also on the way down from 9p then from 1.25p.
My reason for selling at the moment is I don’t see what the board is currently doing in order to increase the SP. I was massively disappointed at the most recent raising of £1m. The thing that annoyed me the most was the point that we repaid £3m (?) back early and it was under the proviso that we could have access to this should we need this, yet the BOD saw fit to water down my holding yet again.
I also have stated publicly that I wanted the company to drill and they whet my appetite with the prospect of an advanced drilling plan but as it stands they STILL have not spud a well of the 2 planned originally and it is SEPTEMBER. I also note that in the most recent updates the level of oil being produced was not advised which pangs of it not being at a level that shareholders want this to be so it is being swept under the carpet.
I held out for a long time as I thought there might/should have been a spike up at some point but there wasn’t, I held some solace that the big shareholders held at 0.88p and felt that they had to be expecting to get some return on their investment but it seems that they are worse off than me.
With every passing week the debt looming large on the horizon gets bigger and I see NOTHING at the moment that the BOD is doing currently to make the debt serviceable and it could very well be that the company is no more by the end of 2019.
I will keep a close eye on Range as I have a huge emotional attachment to it and would love to come out of the other side of this in profit so if I see something change then I may well be back in at some point.
I wish all the LTH the very best. I hope you make a profit and Range comes good, but like my football team it is currently very much a matter of survival.
Celtic, all the best with your holding. I hope the trolls on ADVFN and WS actually have a heart and understand that they have been bullying you for nearly a decade and that is not a nice character trait.
KRO
Bounty
why does the accountant not send them in online ? all pros do that, can't get lost.
Also did you have tax to pay ? He would have instructed you to pay any outstanding amount before Jan 31 , so how did you not notice that you hadn't paid any tax. If there was no tax to pay can't understand why you would be being fined so much.
? utter crap , must have been here for 5 years , and I thought peter landau was a pratt ,, but it just keeps getting worse
Sort to hear that Photo, that's rough. Unfortunately it is ultimately (and quite rightly imho) the taxpayer's responsibility to ensure their tax return is done, whether they use an agent or not. Which professional body was this character a member of? Put in a complaint and he could be removed.
The problem is you just don't know who to trust in this world.
It looks as if we may soon see an extra '0' against the share price. After ten years of being here, I'm down to virtually nil. To cap it all, my previous Accountant has screwed me over with not sending my Self Assessments on time. Not only that, he said HMRC lost mine...AND he sent three Returns in the same envelope. MINE was 'lost'. He claimed he'd been in touch with HMRC to sort it all out and not to pay the Fines as they would 'drop the case'. No such luck.
After many months of me trusting him to his word and his 'progress; HMRC told me they have never received once single ounce of Tax returns, duplicates or appeals...sod all. Now I have to pay HMRC £2000 as they rejected my appeal. I'm now even more pi55ed off :((( Worse still, he was a Freelance Retired Accountant (Ex Brook Street Bureau, Pro accountant) which means I have no case against him except in the Small Claims Court with no G'tee tI would win. Should break his writing fingers.
never mind the shrimpers top sliced at £1 lol
Just goes to show that the reported SP before the bell doesn't mean a thing.
Patience is a virtue, I've been here a while. This share was showing up 44% prior to the bell. Just saying.
If you like to see a sea of red...very interesting indeed
Interesting day ahead!
Similar RNS
Range issued similar results this afternoon
Nice clear announcement from Touchstone. Now, if only Range could do the same....