The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Chri - that's a good point. I don't know the quantum of tax losses but I think the following is relevant. Where a UK target company with trading losses is acquired (whether directly or by the acquisition of its immediate or ultimate parent company), it may use those losses against its own future trading profits provided there has been no 3 years after the date of acquisition. If SER wre to be a target of another oil company, that company must be profitable such that it can absorb the losses. A new company is probably unlikley to produce any significant profits for several years. This may diminish the value of these losses to a potentail acquirer, but I don't know the detail.
Couldn't agree more. The only chance I have ever got of getting something out of this shower of crap is a free lunch at the AGM. They might as well give us all steak and chips, after all, are we not entitled to a last meal of our choice before we are sent off to the gallows!
Unfortunately I can't attend the AGM and doubt there wil be much of a Q&A session however if there is would love to have the answers to the following: 1) how are SER goin to be more transparent with what is spent and to who in the future? 2) what plans are there to relist the company in the future? 3) if SER does relist what assurances can shareholders have their existing shares will not be hugely diluted? 4) what charges are going to be bought against past iligitimate activity and who will be held accountable? 5) how are any future projects going to be funded? 6) what is the strategy of the company moving forward? Assets? From where? Funded how?
Wassat - SER is no longer a listed entity; unquoted companies don't use RNS in my experience - not sure if they're even able to
Problem is SER is not a particularly clean shell not least because it already has thousands of very unhappy shareholders. A new investor will not put in his money to appease shareholders by way of providing a return to them. They will either have to accept a massive dilution or stump up money themselves and get back on the merry go round of throwing more good money after bad. Anyone serious about moving into this sector would better advised to simply incorporate their own company- SER has nothing to offer and even its prospects of being able to re-list must be highly questionable. Halo man will not answer your question ebcause he has no answer
Pom as much as I fear new team are only here to flee the remaing money from the draws there is on asset that for the right company ser does have and that is huge tax losses...
Maybe SER wanted to conserve cash and not waste money on an RNS. Their web site will be used more to communicate with shareholders as it is basically free. Several others have asked what has SER to offer(post AIM listing) to potential investors. There are several other cleaner AIM , oil related shells, around that appear to be more attractive than SER. I would like ST to answer this question in a rational calm way.
Agreed, lse did not release the de-listing rns either so I can't see lse releasing the AGM one either. imo I asked lse about the lack of the delisting rns and this is what they told me >>>> We did check a few competitors who also didn't have the RNS regarding the share delisting so it seems there's a wider issue with this one for some reason.
Of course they will issue an RNS. It's not just AIM shares that do so. Now whether LSE show it that's another matter. But IMO they will issue one.
Halo man speaks with forked tongue. Surely, with the huge potential SER has to call in favours it will shout from the roof tops and from whereever possible to update shaeholders,
Except that the company is no longer listed so an RNS may not be actioned. I would imagine the website may be used to announce anything to those unable to attend.
They only issue an RNS straight away Generally saying "All Resolutions Accepted" So, it will hit the streets before people have left the meeting normally It's already prepared normally
How long after the counting of votes does it take for them to post the results ?
Thanks Wassatt, I've never been to an AGM I always just vote online.
Jas It takes place at the AGM It's only proxy votes that have to be completed prior to. I have attended a few, and that's what happens
Last date to request attendance of AGM 10 DEC
According to my broker votes must be in by Submit by 10 DEC, i'm not sure if this is just for electronic voting though.
here - I don't think you can vote on the day of the AGM but check on that, i'm sure I read somewhere that votes must be in by the 11th <<< but once again check on that deadline for casting votes as I can't remember, i'll try to find out.
Altruism.
It's just getting all a bit ridiculous now isn't it, This is why I said roll on the 17th, find out the outcome and hope for the best for genuine shareholders.
Can anyone please explain to me, or give a rationale behing why an investor, funder, call them what you like, would put money into SER to provide a return for existing shareholders? If Clem found wonderful assets and could raise millions to exploit them why would he, and indeed why should he even be expected to, share it with you guys, and more in importantly, why would an investor putting his balls on the line share it with you guys. SER brings nothing of value to the party as the habitual liar halo man well knows.
wassatt - that's the issue isn't it? The thing is we don't really know anything as yet! It's a waiting game that's for sure. Hope your well by the way?
My guess that the next post will be someone who thinks everything is ok in camp Clem
JAS, ST - I hope the outcome of the AGM is the result we want to hear! I have everything crossed for it. GLA to all of us.
True story, I was just sitting here thinking to myself who is going to post next "billybob" ? and then a post from "hillbilly1" That was just a weird coincidence lol