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If they become a private company then the new shareholders in the company will buy the scirocco shares at a premium to the market price. The old shares will then be delisted and cease to exist.
The premium should include the monies due from the Ruvuma sale although they will want to make a profit so should expect a slightly lower price to reflect this.
The old directors will also probably get paid off together with the liquidator so the sale price of the shares will be adjusted downwards even further.
Many shareholders have lost huge amounts here
and will be glad to see the back of them.
Please dont be silly your shares wouldnt be worthless
If we go private and delist will our shares be worthless.
So would i be better selling now while i can still get some money back
Why are you thinking of voting against 2? Is there something in the articles of concern?
Received an email today regarding the following resolutions, requesting voting for or against:-
1. THAT the cancellation of the admission of the ordinary shares of 0.2p each in the capital of the Company to trading on AIM, be and is hereby approved and that the directors of the Company be and are hereby authorised to take all actions reasonable or necessary to effect such cancellation (the “Cancellation”).
2. THAT, subject to and conditional upon the Cancellation becoming effective, the Company be re-registered as a private company with the name Scirocco Energy Limited; and the regulations contained in the printed document submitted to the meeting be approved and adopted as the articles of association of the Company in substitution for, and to the exclusion of, the existing articles of association of the Company.
My natural response was to vote FOR 1 and AGAINST 2, what is the general opinion? Cheers all.
Good memory barnetpeter. I also had shares in Atlantic Coal. Must just pick the wrong companies. Think I still have the original share purchase document not that it is worth anything. The company just seemed to disappear.
Plenty more Dosh heading towards SCIR , hence the stake build up - you may want to come to terms with the last RNS.
Its over and out for investors here .... we got screwed like most AIM shares.
A holder of another AIM listed micro cap company, one which successfully fought off a challenge from the " Scottish contingent".
I have a question with no ulterior motive.
Is there a route or method by which serial failures at Director /CEO/CFO level
can be barred if found to be benefitting personally at the expense of shareholders?
As I said, not a holder here but have been in a very similar position twice
and some seem to have history.
Atlantic coal then renamed carbon is the classic case. Delisted then had three offers rejected. Then put into administration. Shareholders got nothing. Directors increased their remuneration. Easy done. So you might get something back but you also might never hear about the company again
Daft question. Without an AIM listing, the company by default becomes a private company not a public company. It is still owned by it's shareholders, not the BOD. So what term would you have them use?
Where is BIGDOUBLE when you need him?:)
Plenty more Dosh heading towards SCIR , hence the stake build up.
Agreed, we need to keep them accountable
HTtps://twitter.com/AminexPLC/status/1780512343597736244
Company Directors should not be allowed to take it Private.
Yes the Tanz news is reporting that the licence has been signed. If so it's good news for SCIR, release of next monies + production in a major step closer.
Good luck to you all.
Good luck to you all here!
If were out why would you be making comments, what's your agenda? why aren't you making comments about all the other stocks you don't own?
Without knowing all the shareholders, you can't form a partnership, so what legal entity would you propose?
Amimex BB reporting licence issued for Ntorya. Would bring FID, and another $3m a step closer.
Got out months ago cost me a lot of money here.
Ruvuma looks dead in the water at the moment.
Government taking ages on a decisions.
Drilling licence expires in August I think.
Imo shareholders may be lucky to see .50p over many years but still depends on ruvuma monies being received.
Why are they taking the company private.
A scheme to get even more money to themselves.
Last chance to get out
The directors of scammers hitting again.
Manage the SP to the bottom and take it away from investors. Chuck Penny’s at £’s invested. No interest by most aim listed companies to make it an investment with returns … to the shareholders that is.
I am done with AIM.
you only have to look at previous directors of this, from its inception. when it was solo oil.
previous directors, kieren morzai... currently driving kdnc into the dirt - mate of big dave, also a director of horse hill
donald strang, currently driving gun and and kdnc into the dirt
big dave lenigas, everything he touches turns to ****. rem/kdnc, solo, lenigas oil, inspirit, etc etc
edwin mathew bower current ceo
jon fitzpatrick, no longer a manager, but head of other companies...
before you invest, anywhere, you need to check these people out and their history and then, make your judgement based on that.
Tempted to buy more but the fact that no one is suggests that \NO ONE Believes we will actually get even 0.6P per Share let alone the discussed 1.2P
Can anyone actually explain what is currently going on with the company?
So we voted to wind up the company and return monies owed to the shareholders which should have come to 1.2 P Per Share which was a no brainer. But is that really what is going to happen.
Are we still paying the board and associated costs of running a company out of the Money that is supposed to be returned to us? In which case for how long if we have removed them of their duties.
I understand there will be some associated costs with keeping an active company until the monies received can be paid to us but surely we are no longer paying the BODS salaries as they have nothing to do and there will be no money left?
If the company is being wound up and we are just waiting for monies owed to be paid and returned to us how come you can still by shares 0.3P surely you should no longer be able to buy and sell shares in a company that is being wound down ?
There has been no communication from the board or the shareholder group that forced this action about what is now happening and what and when funds will be received by the shareholders - Can anyone enlighten me on any of these points Please
Probably someone building a stake getting ready to buy this out on the cheap imo