Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Highland - My concern and that of my brothers below is that if they become a private limited company do the directors then have full control over the current shares?
He posted in the hope that someone a bit more knowledgeable on the matter could comment and help us all make the right choice on the voting form.
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.