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Just for good measure, San Leon Eli's holding company, San Leon Energy UK is also 3 months overdue in filing it's 2022 Accounts.
San Leon Eli is registered as a UK company, with Price and Tedder as directors.
It came close to be struck off in 2022 for not filing it's 2021 Accounts (the Registrar had published notice in the Gov Gazette).
Those accounts showed the only asset to be a $2 million prepayment for shares in Eli Malta to be purchased off Okoloko's company, Walstrand.
Today the 2022 Accounts are over 3 months overdue.
I notice none of the trolls has responded to my exposure of their dissumlulation about the insolvency proceedings. so come on guys here's your chance to show us that you're actually not dishonest trolls after all :-)
Meant to say poor, not poo
Come on Afa, even for you that's poo.
".. So looks like no loan unequal no Eli"
... What exactly do you think is going on while we are suspended.... Not just for a few days... But for months.
........ Do you think the nomad would have allowed that last RNS if good progress wasn't being made with new funding.
... Instead of coming out with half backed guess work and scare munger stories,.... Why don't you just keep quiet and wait for the Facts to come out.
......... Can't be long
Funny littlul boy jus doin divurshun from main isue. it best poorley paid pr profesional can do at the moment. she runnin scared. Lol
let get bak to busines talk. Hear sum more fact frum the past.
Use of proceeds
The Company intends to use the net proceeds from the Investment to, inter alia:
loan a further US$37 million into ELI, which owns a new pipeline and a floating storage and offloading vessel, together with the right to subscribe for 35 per cent. of ELI. The Board continues to believe that it is important for San Leon to assist ELI with the funding requirements for achieving its key project milestones;
so it look like no loan equl no eli so how you doin with the beggin bowl boys.
that reuly is all we need talk about so no more silly divurshun drivul frum profeshnul pr team troll pleeze. as if.
So by the looks of what has been researched by Alaric, assjunkie and his Afool has been misleading shareholders again , they did this with SunTrust, they did it with research others found on Eli akaso, these two are charlatans, misleading liars to be honest who are out to scaremonger...fact!
I should correct an important detail in my last post. it's Ocean Pearls shares in Eli that are in hock to the bank which is logical if you think about it.
Proper research Alaric, assjunkie,Afool!!....nah their history as non invested is littered with only that to tarnish company reputation and sle personal, most is assumption not fact but untold rhetoric and propaganda to try to destroy shareholder confidence so to short sle as Afool says he does and there is the proof and he has posted so, so why does any holder here stick up for posters who want to undertake the loss of their interests here is crazy, these trolls are out to damage investment their history proves so.
Although it's academic, the prospect of an Order for Discovery is salivating!' even more nonsense from Junkie. disappointing for the trolls but i understand that the winding up petition hasn't even been served yet. that's the problem with thinking that reading the nigerian press is actually research. it obviously isn't and even worse for the trolls is their failure to realise that the petition will never be served, as redeyemines explained recently GT Bank to whom ELI's shares are hocked have to consent and they ain't never going to do that. the trolls would be well advised to take a leaf out of redeyemines' book and do proper research for once. that's all :-)
Afamefuna, although it's academic, the prospect of an Order for Discovery is salivating!
Although I greatly doubt that SamAlaric is a shareholder, I'm wondering if it's one of the unpaid creditors of the company. Might explain a lot?
You funny little boy sam the red lion aint going to sue anyone hear. there is no case an it could opun up a big can of worms for them cause there be more chance of you alarik bein investigated by the autorities for sure as it lookin like 10 year of market manipulasun by a pro PR team ramper company.
you mus try harder samalarik troll or you wont get anymore worthless free shares.
an hey where is that third loan attempt then boy.
Bob these trolls post to undermine the company and it's personal as well as shareholder investment,company defamation as well as personal libelous posts are against the law.
Assjunkie, hope you know it's against the law to post names of minors , so dream on clown 🤡....
What are you babbling about man? SLE can look all they like into CJ and anyone else posting research on this board... (they won't like what they see clearly)
None of your, and Alaric's, so-called 'Trolls" have said anything litigious/libellous/defamatory in these parts. Negative yes, but them's the rubs. In a vacuum of any meaningful, dare i say promised, updates is this surprising?
As a shareholder, as you purport to be, surely you too should be challenging the narrative, or lack there of, coming from SLE HQ...the current impasse is truly damning IMO. The lack of submitted accounts is the part that really makes me feel nervous...no one doubts the value of the asset but, if you can't make it work financially your creditors will tie the noose around your neck....
Another dilution maybe to ensure our biggest sponsor gets it's value ?
(please someone tell me that is too simplistic)
I don't normally respond to juveniles on social media but.....
They've had 7 years to think about it....but as the Eurovision song winner goes "What's another year" LOL
What will you do assjunkie when sle look into you?.....gunna happen.x
You certainly have a problem here non holder in the co and oisin fanning..your loss must have been huge assjunkie .x
However, courts will not usually list anything but substantive actions.' usual nonsense from Junkie who as per in his rush to diss san leon fails to engage his little grey cells and spouts garbage. the obvious point he misses is that anyway can start and pursue legal proceedings to trial and appeals. if courts had the power to decide which cases got listed and which didn't that would be predjucial. that's exactly what happens in countries which don't have rule of law like Russia and China. that's all :-)
ELI is heavily indebted and requires an immediate injection of capital in order to meet certain court sanctioned obligations to its main contractor for the pipeline construction (which have not been complied with by ELI). Without the further US$37 million loan from San Leon, the Board believes that ELI would be unable to pursue its strategy and, in particular, would have failed to secure customers for its pipeline. This would inevitably have been highly detrimental to the value of San Leon’s investment in ELI. In addition, the Board believes that, due to ELI’s severe financial difficulties, without the US$37 million loan from San Leon, ELI may be required to take steps to protect the interests of its creditors. The Board anticipates that part of the US$37 million loan will be applied by San Leon settling ELI’s creditors directly.
The purchase of Ocean Pearl’s shareholding is likewise significant as it takes San Leon’s shareholding in ELI to approximately 55 per cent. in aggregate. As the majority shareholder, San Leon is now able to exert control over ELI’s strategy and management and this is an important factor in TRAM’s decision to make the Investment. Of most importance is the conclusion of the pipeline construction by ELI which San Leon will now be directly overseeing.
All hot air by the trolls try as they do making assumptions on the hot air they post. Imo wind up order like SunTrust won't happen,trolls love this to happen as they have a problem with sle and management plus don't give a sheight about shareholders, wonder if they will still be around here when sle release the big news their working towards.
Billgreen i didn't intend anything by my use of 'imagine' but i hope between me and redeyemines we've answered your question. you will have noted the trolls carry on ignoring these perfectly satisfactory answers.
I might be wrong as one would expect a services contract would be with Eli Malta, not San Leon Eli.
Equally I'm sure that San Leons contract to buy Ocean's shares would have been littered with caveats regarding obtaining funding.
As usual, shareholders are in the dark.
However, courts will not usually list anything but substantive actions.
CJ - I like your other explanation you've done some work and posted well on Eli and Malta in the past you could be right?