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Be glad there communicating with us,I'm in valirix and there bod are a shambles, plus remember under last bod buying oil fields in Nigeria, where did that little beauty go
Think they want more money and the board dont want to pay . Personally not to keen on there tactics and should tell one dyas to go and do one . Hopefully there working on another deal in the background.
Whilst this BS on the Licence continues we are better off suspended really and hope a resolution can be found soon
Me thinks that this is just a prelude to deal off IMVHO
Just the same as before steve. Might complete might not.
IMO not very encouraging.
Proposed Transaction and Reverse Takeover Update
Solo (AIM: SOLO), the AIM investing company, targeting attractive production and development opportunities within the European gas market, announces that, further to the update provided by the Company on 20 December 2019, the Company remains in discussion with ONE Dyas with a view to renegotiating terms on the proposed transaction (the "Proposed Transaction") in order to enable the deal to proceed.
As part of the Proposed Transaction, the Board continues to assess all debt and equity funding options available to the Company.
Additionally, the Board continues to progress a number of complementary business development opportunities in line with its European gas strategy.
The Board reiterates that there can be no guarantees that the Proposed Transaction will proceed and intends to provide a further update to market as soon as possible.
At least something happening soon at least
Kejoglo
As a plc we faced alot more governance than we did as a ltd company. The downside was this meant alot more regulation and reporting, the plus side was an acquirer knew that such regulation meant less risk. You would not believe so e of the daft contracts I have read in my industry, some putting the whole business at risk.
My point was simply that even with all that regulation in place, the acquisition still took 4 months of DD. And all our contracts were government contracts as well.
If I had done it again, I would not have advocated floating!!
Time will tell with solo. Just thought I would put another perspective on it.
Hey dealbreaker i know it is nothing to do with solo but as you brought it up just what did you mean by "relatively" clean in your post. I mean they were either clean or they were not clean. No wonder they got checked out!
My solo shares have sat in a draw for years. I had all but written them off and then I decided to sell what I had sitting in my sip, which was only about 10k, and found i couldn't.
So now I have to wait for them to become tradeable again and I intend to dump them as I now need to move into less risky investments.
About 3 years ago I sold a business which was a plc to another plc. We made an announcement regarding an offer was being considered and then the DD, despite both orgs being relatively clean as public companies, took around 4 months to conclude the deal and put it to the shareholders. In between then, we announced nothing.
It all took far longer than I expected, and we had around 40 people from Grant Thornton all over our offices, but the deal was only £35m.
I know little about this industry and their contracts, but 4 months does not seem totally unreasonable. However, if this goes on for much longer, it will start to concern me.
Good afternoon.
So the Helium 1 IPO is still due around the end of Feb 2020, good news!
All the best
As someone that has bought a business.... sold a business, been involved in selling a further business and negotiated contracts around £1M believe me on the scale of things the negotiations are not taking a long time! I’d suggest if we get a resolution within 6 months of the suspension the negotiations have gone very well!
Seems that are having to renegotiate the complete transaction. if it were something simple to rectify it would have been done and dusted within a short time of the rns announcement.
I hope this is sorted as it is becomimg embarrassing to say the least.
Last October when announced lots of interviews talking smiling. Since then virtually nothing. Also no news regading any other potential deals. If this one is not happening for some reason at least bring another one into the frame.
This deal gave me lots of confidence in the new board and their strategy going forward. This is evaporating fast.
As I have recently said all this talking and deal making is of no use unless income is derived from it. As of the last two years talking and promises is about all we have had. income pays the bills and builds shareholder value talking does not.
Costs and fees are being incurred on a daily basis. Im not sure how much cash we have left but it must be getting to the stage where a possible share issue is required to raise funds. if the deal doesn't happen imo it will not be if but when it happens.
Instead of repeating the same old grumbles about the BoD try emailing them. They do communicate...
The negotiation has been going on since 9th October 2019 and still no news. It's coming up to 4 months of negotiation and we the shareholders haven't been told anything. What sort of BOD do we have?
How ironic seanster.
What is the point of 99% of the posts people make on here?
I don't think horse hill has any relevance to Solo any longer and the link is for followers anyway so whats the point of the post?
News comes when it comes steve, Solo and aminex for that matter seem more like a faraday cage at he moment. I don't think aex would touch Killi till the psa is all sorted.
At least they got one thing right in selling UKOG at 1.92, now floundering at .725. But could do worse than doubling their previous stock there as it could soon take off. ?????? Or will we get something going here soon?
Good evening Chris.
I honestly thought we would have heard something on at least one front this week.
On to February then. To think that the Ruvuma licence was applied for in September 2017.
Is their any reason why the gas production hasn’t been restarted. I thought all the relative licences were in place.
Have a good weekend. Still wet in the garden so not much going on there.
Makes you wonder how much longer both long waits can be and which one will come first?