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Started: 007PPK, 11 Jun 2024 21:49
Last post: 007PPK, 11 Jun 2024 21:49
Any news of when first payments will be made?
Started: Firestormracing, 24 May 2024 08:41
Last post: ArielArrow, 31 May 2024 13:54
Best case scenario is about 1.2 if you live long enough.
Thanks Ariel, I lost interest in the RNS as the bod lied so much.
Its all in the rns if you bother to read them, if event's happen as hoped-for then you should get some return.
Same for me, can anybody clarify what happens
I have 1,500,000 shares here. showing as £0
Another AIM investment scam, just like 99% of the other "exploration" companies on aim
The shares show as Nil value as they have been delisted so there is no quoted price. You own shares in a private company.
Started: highlandmatt, 23 May 2024 16:25
Last post: highlandmatt, 23 May 2024 16:25
Aminex RNS. Development licence issued. Brings FID and cash to SCIR closer.
Started: little_me, 20 May 2024 12:11
Last post: Thepipersson, 22 May 2024 11:27
Sorry man not deramping have 2 over there myself
Just impressed with you guys faith in them
A bit late in the day to start deramping.
Just had a peek at scir over in Jenkins bone yard..
You lot have steel rimmed faith
We wait until ara/aex start producing, then we collect up to 1.2p per share, depending on the amount of gas produced/sold.
I think the 1st payment of about $2M from memory (about 0.3p) then increments depending on production totals.
All going well about 8 or $10M.
The 1st could be as early as the end of this year
What happens now?
Started: David85, 16 May 2024 16:06
Last post: ohwhatif, 16 May 2024 22:20
Have lost money on so called good companies also, have you not lost any money on investing ? if not give me some tips please or even better a few shares to invest in for 2024.
Stop investing in junior explorers, You are basing your investment on risk. Most times on AIM it doesnt pay off.
Instead invest in solid producing companies, then you will atleast see your investment back plus some return.
The amount of scam companies on AIM is absurd, but retail investors throw their hard earned into and listen to the rampers here.
Started: David85, 16 May 2024 19:38
Last post: David85, 16 May 2024 19:38
Started: Danson26, 16 May 2024 11:33
Last post: steve58, 16 May 2024 12:35
The best way forward.
Sold out many months ago.
Lost a lot here.
I think your caption is being very kind to the board.
Should have included many other words which I am not allowed to mention on here.
Good luck in your future investments.
Definitely the worst one I ever made.
Shame the financial regulator never looked into the dealings that have taken place oner the years.
Been invested here for 12 years sold up today. at a big loss hope i have learned a good lesson in my investing strategy onwards and upwards. Good luck to those that have took the gamble, but i am not hanging around till 2027 and then lost the lost better taking few grand and build again.
Just sold what shares I had left in this dung heap,
with a £24k loss, absolute joke of a company,
worst company I have ever invested in & fingers
crossed ever will again. Directors should be ashamed of themselves, total fannies.
Started: Toady.72, 16 May 2024 07:22
Last post: little_me, 16 May 2024 11:07
My broker is suggesting the shares I have are likely not going to be able to be sold!
If I retain them then my account will show £0 and I will just live in hope that the monies coming in from the sale of assets is proportioned to me. But how will we know when and if that is happening? And how will I be contacted?
Sorry to hear they went bang..... thanks to those locusts that stripped you bare. once again the PI gets beaten. so glad they didn't get their mitts on Block or same would have happened to us. hope you guys manage to recoup your losses
Thank you.
Every broker seems to have different rules. Mine (iweb) will move them out of my ISA (as an ISA cannot include unlisted shares) in to my trading account, and show as Nil value. Others seem to simply delete them. You should call your broker and ask.
Morning, don't know much about the situation but any advice would be appreciated. Am I better off selling today and moving on or not selling, but what happens to the shares in Interactive Investor account? Thanks
Started: Ericthered, 15 May 2024 16:31
Last post: Ericthered, 15 May 2024 16:31
Or in my case, "Horrendous Loss!"
Started: Ilovesushi, 14 May 2024 13:16
Last post: JohnDodo81, 14 May 2024 18:07
Hargreaves Lansdown
What is HL?
As HSBC do not want to hold shares in a delisted company tell them to transfer your holding to HL free of charge.
Started: DPLSOLO, 10 May 2024 21:16
Last post: DPLSOLO, 14 May 2024 12:18
I called them again this his morning, and said what vike1 advised.
They will now post me a certificate of the shares.
Thanks Vike1
I had the same response from HSBC, so I've bought the equivalent in HL and will let HSBC sell my shares today.
Hi thanks for you reply. I’ve spoke with HSBC today, they have to do the forced sale from my ISA tomorrow.
They said there I no other option, I can’t even rebuy with HSBC outside my ISA.
I’ll call them again in the morning to see if this is possible.
Double post, apols. Thought the previous one didn't go through
You must contact HSBC by today's deadline and direct them to not sell your shares. If not given directions, they will be sold tomorrow.
Started: Deanosbooty, 14 May 2024 11:14
Last post: Deanosbooty, 14 May 2024 11:14
On this share is a joke!
Normally you see the spread, as indicated above (0.10 or 40%), however, generally this isn't the true spread, as you would normally be able to sell @ around 0.28 and buy @ around 0.3 (just random examples).
I've just tried a dummy buy and sell, the prices 0.252 and 0.34, what a liberty!
Have decided to leave a limit buy @0.28 as I believe there could be 4 bags in time and almost guarantee 0.3 as soon as the end of this year, we receive $3m on the FID, which seems to be fairly certain, although could be delayed further.
Good luck to all, whatever their final decision here
Started: obone, 13 May 2024 23:06
Last post: Allenby, 14 May 2024 11:08
It depends which Company you have your ISA with, HL will transfer the shares from the ISA account to a holding account then will accept money into this account if and when it is paid out by Scirocco.
Looks like HSBC will force you to sell from your ISA
Hold two tranches: in my ISA and and in my wife's SIPP.
If I leave them, what is going to happen ?
It has been a $h!t show for a long time. Why should it eventually come good.
Yep if you can be patient then may see a return
No doubt but will come good in the future...which I am gambling on....a very small investment though!
Once it goes onto asset match or wherever prices will likely fall further?
It was an MVL, some boards saying would ne better selling now
Started: Diagnostic, 26 Apr 2024 09:50
Last post: highlandmatt, 30 Apr 2024 12:32
There isn't an RTO on the table.... that's just the hope of the BOD
Hi Age
Yes, the current BOD performance has been shocking. You will not get many detractors from that view, myself included.
The issue for me is that an RTO offers another opportunity without losing the flexibilities of retaining the shares in a tax free wrapper. I understand the ongoing AIM cost issue and perhaps the need to run with the current board until the RTO is completed, but then there would be a new Board put in place with new drive and probably a new product/market.
If I have to put the shares in a standard trading account and wait for the staged payments then so be it. Its just not my first preference.
I still have a nagging doubt about the intentions of GB Jersey. They have form in being activist shareholders and from my cursory research, not necessarily in everyone's best interests. Afterall, they managed to get two Directors on to the Board and I think they perhaps could have pushed for further Board changes if they wanted to.
I am left thinking, is the best they could have done and are they really happy to accept such a low return on their investment staged over a period of perhaps years...or are they playing a wider game here that we are not aware of.
Correction to previous post EAG paid 880k in total for GGL and GGL had negative net assets of 25k so a net liability in accounting terms. I incorrectly typed 25k of net assets.
I forgot to mention that significant amounts of money were spent to upgrade GGL’s AD plant that it was sold as part of the EAG/GGL deal at a loss of between 725k to 875k and so the purchaser is going to reap all the benefits from those improvements and SCIR shareholders end up with a massive loss on the sale.
AGE
Shareholders have a clear choice which is to vote to approve both resolutions so there is a Members Voluntary Liquidation and the shares are delisted which saves around £400k pa or else they can vote against and then the Board will persue an RTO or other investment opportunity.
Based upon the Board's past record I came to a logical conclusion that I should vote in favour of both resolutions as in my opinion I will recover more money than if the Board are allowed more time to do an RTO or other opportunity paying highly paid consultants to give them advice with no guarantee of there being success and shareholder value creation.
I believe that shareholders best interests and GP Jerseys best interests are perfectly aligned!
I have patience so I am not concerned that the shares are going to be delisted as I will wait for the liquidator to return the Ruvuma proceeds.
AGE
---------------------------------------------------------------------------------------------------------------------------------------------------------
Not really sure I trust GP Jersey either.
They seem to be buying up large volumes of shares and pushing for delisting. Not entirely clear what their real intentions are.
With the restrictions on holding these shares (IE no longer in a SIPP or ISA), my preferred option is a RTO.
At least that would give me more direct control to buy or sell when I want to.
Hi Phillo,
All shareholders are entitled to their own opinion and they should vote as they see fit!
I based my decision to vote in favour of both resolutions after I looked at the facts and you are no doubt aware of the saying "history does not lie"!
I have posted the following information a number of times and for those shareholders who have not seen my earlier posts then I will repeat them below:
The Ruvuma development was sold at a loss of £8.034m although it is difficult for non accountants to realise this by looking at the accounts.
The Board received shareholders approval to change the company's investment strategy to move into the green sector by loaning EAG a total of £1.578m and SCIR only owned 50% of the shares of EAG.
EAG acquired GGL for £700k and GGL owned a financed leased anaerobic plant and it had net assets of 25k in other words a net liability rather than an asset for accounting purposes.
They paid a total of 180k in legal fees and consultancy fees to acquire GGL so it cost a total of 880K but had net liabilities of £25k.
The CEO provided glowing commentary in the accounts as to how well GGL was performing quoting EBITDA metric that is earnings that exclude interest, tax, depreciation and amortisation.
It is a metric that excludes significant costs for GGL as the significant as large amounts of interest were being charged on the finance leased AD plant and there was a large amount of depreciation on the AD plant.
The AD plant was GGL's only asset so to use EBITDA as a performance metric when it does not include significant costs was genuis!
Within 6 months after an AGM presentation that showed the business model was going to create significant returns for shareholders the Board then asked shareholders permission to sell EAG/GGL as they had a report produced that showed the Boards and consultants wisdom in acquiring EEG/GGL was not so clever after all.
The RNS about the disposal blamed the failure on shareholders for not allowing the Board to issue more shares at dilutive share prices which is the modus operandi of most AIM Boards!
EAG/GGL was sold at a loss of between £725k to £875k depending upon whether the £150k contingent consideration is received or not.
The current and previous members of the Board received £37.414m from issuing shares and they spent £1.293m on the abortive Onedyas deal and they paid Gneiss Energy £2.132m for consultancy fees in just 4 years.
I have great deal more faith in G.P.Jersey than I do in the Chairman and former CEO of SCIR as their past record shows
they have not created any shareholder value despite them paying millions of pounds in consultancy fees and having such glowing past career records.
AGE
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Not really sure I trust GP Jersey either.
Started: difranco, 28 Apr 2024 23:01
Last post: difranco, 28 Apr 2024 23:01
I’m out tomorrow to offset against gains this tax year. I’ll be lucky to clear a tenner but should save £200 in tax offset.
Started: P4NCH, 18 Apr 2024 16:32
Last post: ohwhatif, 28 Apr 2024 14:22
crock ok **** !
My experience of being a small shareholder in a private company is that eventually they make you a derisory offer which after doing as much research as you can you accept and then 6 months later you check on the company and find they have done a deal and been taken over or something and you sold for far less than the shares were worth. Someone is buying at the moment and so there is value in this company but my guess is that small shareholders will never get a sniff of it. As my shareholding is in an ISA I have to move it out so I guess I'll sell.
You become the shareholder of a private company instead of a listed company.
How will the distribution of money get to the existing shareholders if they are no longer shareholders?
He told me selling was very painful, the price was so low
Started: Jetla, 25 Apr 2024 12:12
Last post: steve58, 26 Apr 2024 12:50
Should have done that in 2015 instead of investing in this crap.
I think bitcoin were about £200 each then.
So every £1000 invested would have been worth £250.000 whilst every £1000 invested here is worth about £2.
Since Ritson drained this outfit - then handed it over to the next batch of hungry HOGS this has done absolutely nothing, and todays RNS is the "writing on the wall"
Malcy bigged this one up too...another useless chancer...god knows who pays his wages too, so the Share price and company have hit the wall, and looking at all the sells offs, i wouldn't like to think what they were bought in at, probable around the 7pence mark at a guess, shame, but AIM in a minefield.
OIL & GAS / ENERGY is over, get you money onto Crypto!
Started: DPLSOLO, 24 Apr 2024 21:52
Last post: difranco, 25 Apr 2024 12:32
If you sell now 2024/2025 Capital Gains allowance has been reduced to £6,000 and dividend allowance to £500 for basic tax payers. All thanks to Hunt the ****. As others have replied, you can use your losses in the future which is open ended. Therefore, all this tax year if needed or part of, or none until you need it. Obviously, this is could all change under a change of government. Positive or negative. Either way, current fiscal drag is killing us.
It seems we neither of us are 100% right ArielArrow.
"To be eligible to be carried forward a capital loss must be claimed within four years of the end of the tax year in which it arose, so by 5 April 2023 for losses that arose in 2018/19."
Also
"Where the negligible value claim is made in 2022/23 the capital loss will be set against capital gains arising in the same tax year before the deduction of the annual exemption. If there are no capital gains arising in 2022/23 or there are surplus losses after any gains have been covered by losses, those surplus losses carried forward to 2023/24.
But Flexxy P I was wrong about the order - the capital loss has to be established first.
Yes though you only need enough Capital Gain to cover the loss- so if you have only established a Capital loss of, say, £5,000 you only need to crystalise a Capital Gain of £5,000. And yes this tax year or next either way, it doesn't matter which capital event is established first.
In general, you can carry capital losses forward indefinitely, either until you use them all up or until they run out. Carryovers of capital losses have no time limit, so you can use them to offset capital gains or as a deduction against ordinary income in subsequent tax years until they are exhausted
Thanks Crusty - So the bit I was unsure of was how long you had to make the capital gains to benefit from it. So it needs to be be either in the same tax year or the year straight after?
If you do not have any CG over £12,000 by the end of the following year it is gone is that right?
Started: guru121, 25 Apr 2024 11:01
Last post: guru121, 25 Apr 2024 11:01
StockSCIROCCO ENERGY ORD GBP0.002
Event TypeDe-Listing
DescriptionProposed Delisting
General Meeting date: 7th May 2024
Expected effective date: 17th May 2024
Market affected: Alternative Investment Market (AIM)
Trading restrictions: The last day we will be supporting trading will be 16th May 2024.
Scirocco Energy plc has announced its intention to cancel its listing of Ordinary shares from trading on AIM. This is expected to become effective on 17th May 2024 subject to approval at the General Meeting.
As the shares will no longer be trading on a supported stock exchange you may choose to sell your holding prior to our last day of trading listed above or transfer your holding to another broker.
Following the delisting the company will be re-registered as a private limited company and will implement a Matched Bargain Facility which may be available through the Interactive Investor platform.
ISA Customers
Due to restrictions imposed on ISA accounts, unlisted shares are not considered an ISA-qualifying investment. Therefore, we will arrange to move your Scirocco Energy plc shares to a linked trading account, opening one on your behalf if you do not already have one.
SIPP, Pension Trading Account, and Junior ISA customers
Unlisted shares are not considered a qualifying investment for these accounts and withdrawals are not permitted from these products. Consequently, holders may wish to liquidate any holdings prior to a delisting becoming effective.
Started: Ishty, 24 Apr 2024 08:34
Last post: steve58, 24 Apr 2024 10:56
Once they go private that's it.
Any shares issued will be to private investors such as ex directors and private individuals.
Not allowed in an ISA.
I am told you cannot hold shares in a "trading account" as they won't be listed on any market to be traded.
What would happen to shares that are in an ISA account.
Would they be sold off or moved to a normal trading account?
Anyone have a definitive answer?
Started: updownstream, 20 Mar 2024 16:16
Last post: caddy1, 18 Apr 2024 10:49
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.
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
Plenty more Dosh heading towards SCIR , hence the stake build up.
Probably someone building a stake getting ready to buy this out on the cheap imo
Started: Kilgeever, 18 Apr 2024 07:31
Last post: Kilgeever, 18 Apr 2024 07:31
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.
Started: guru121, 17 Apr 2024 12:37
Last post: highlandmatt, 17 Apr 2024 12:47
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?:)
Agreed, we need to keep them accountable
HTtps://twitter.com/AminexPLC/status/1780512343597736244
Company Directors should not be allowed to take it Private.
Started: London74, 17 Apr 2024 07:37
Last post: cperkin, 17 Apr 2024 09:53
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.