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this is no surprise, and what happens in Nigeria.
You were warned.
https://www.desmog.co.uk/2018/05/10/exposed-elite-boys-club-running-london-s-opaque-oil-network
Of shareholders equity funds sale off into the sunset never to be seen again
Are Vitalitgo and HandyGhandi around? Thought not. Funny that. Wave goodbye to your green people. Can’t believe I fell for all the bull and hype from this company. Mind, it was a good learning curve.
yes and your certificates will be worth the same as .....'papier de toilette'
Just got this email from Charles Stanley Direct regarding my ISA holding:
Sirius Petroleum
Cancellation of Admission to Trading on AIM
The company has announced that Sirius Petroleum shares have been cancelled from admission to trading on AIM.
As a result, the shares are no longer eligible to be held within an ISA. We will therefore arrange for you to receive a share certificate for your entire holding.
Please do not hesitate to contact us if you have any queries.
Kind regards,
Sophie Shell
Deputy Administration & Corporate Actions Manager
Not nice reading, how the hell can they do this, can someone explain,
does it mean we have lost our money? what is th enext steps for us as shareholders? My 2k are stuck in it. Can someone please shed light on it? Thanks in advance!
https://www.desmog.co.uk/2018/05/10/exposed-elite-boys-club-running-london-s-opaque-oil-network
https://www.lse.co.uk/rns/SRSP/aim-cancellation-sirius-petroleum-plc-v8rm9ae2v5frh62.html
Does anyone has any idea about today's RNS? It is available on
https://www.investegate.co.uk/aim/rns/cancellation---sirius-petroleum-plc/201908270700111074K/
not the first time either very spivvy
https://www.growthcompany.co.uk/sirius-in-34m-aim-comeback-1605478/
floated 15 years ago
The company, which originally floated on AIM seven years ago and raised £15.5 million to bring a 25 million-barrel project into production, recently had its shares suspended after hoped-for licence renewals did not come through.
So they've failed once refloated and wasted how many millions?
and still nothing has happened
In over 10 years they have done nothing, now they tell what they are doing and all that is supposed to make it sound everythink is good, how the hell are we supposed to believe a company that has had every chance and done nothing for over 10 years, me, can't see this coming back, they can take as long as they like and we are the losers, this has been a total waste of investment, will we get our money back, fecking joke,
on standard segment of LSE not
Seen companies pull this trick before no time limit on standard exchange
they can take forever and a day
Continued
Certainly, we will update shareholders during the intervening period with news, aiming to keep you more adequately informed where we are able to do so and, where it does not compromise any incumbent commercial sensitivities. The management team and the Board are determined to achieve a successful outcome to this process for all stakeholders, all of whom have continued to support the strategy of the Company to build and develop a strong portfolio of development and producing oil and gas assets.
7. What will be the status of the ABO facility on Relisting?
A: The company’s only convertible bond facility will be repaid in cash before Sirius relists its shares on AIM and they won’t have any right to convert the outstanding debt into shares. Furthermore, there will be no further requests by the Company on this facility.
Ends.
Sherl0ck23 Aug '19 - 09:53 - 96459 of 96501
0.00000620 22 0
Friend sent pdf but I can’t post a link so I’ve copied & pasted text below:
SRSP Q+A 23.08.19
1. Why have you delisted the shares at this time and not continued with the RTO process?
A: The Company is continuing with the RTO process, it is an Aim rule that if an RTO is not completed within a 6 month period the company is required to de-list the shares and re-admit to trading following completion of the Admission Document. As such, there is no new obstacle or requirement other than the process we are currently undergoing, which is the same as is required for a Reverse Takeover. Your current shareholding in the company remains the same.
2. When do you anticipate bringing the Company back to the London Market? Will it be a listing on AIM?
A: When the AIM Admission Document has been completed the Company will apply for the shares to be relisted. We will update shareholders in due course following input from the Nomad.
3. What can you say about the Company’s state of play with the portfolio of assets?
A: As you are aware, we announced the acquisition of an interest in OML109, a 770sqkm shallow water block, adjacent to and due south of Ororo, last year. The block contains the producing Ejulebe field and our plan is to undertake some drilling and workover activity to boost production to over 5,000 bopd and test a structure located 3km from the main producing reservoir containing P50 resource of 32-38mmbbls.
We have explained the proposed acquisition of a 40% interest in another producing asset, a 425sqkm shallow water block located in the south east Niger delta. The asset is owned by a very successful indigenous operator and contains a field which is currently producing just under 3,000 bopd.
Combining these two excellent assets, both of which fit neatly into our shallow water strategy, with Ororo, we have a portfolio capable of delivering in excess of 15,000 bopd of net entitlement production.
The Directors continue to work towards renewing the licence of Ororo following the recent appointment of a new oil minister on the 21st August 2019.
4. Where do you plan to publish the Company’s Annual Report and Accounts?
A: It is anticipated the accounts will be published and sent to shareholders in the first week of September.
5. Can we expect to see a dilutive capital raise on re-listing?
A: The Board expects to be approached by institutional investors and will consider an equity raise if it makes strategic sense for the Company. Any fundraising will include an open offer to shareholders.
6. Realistically, what is the timeline to a relisting and completion of the funding for the development of the assets, current and proposed.
A: Realistically we will update shareholders when we have each of the elements of both funding packages and transactions agreed and signed. Only then can we be sure of setting a timetable that will result in the relisting
another one bites the dust - more of my portfolio down the pan - money is safer under the mattress collecting dust
Totally been well mugged off here, bunch of money grabbing idiots who could not arrange a **** up at a brewery
The Company is continuing to develop its portfolio and will seek a relisting on the London Stock Exchange as a new applicant (rather than pursuant to Aim Rule 14) as soon as possible. The process of a reverse takeover requires the publication of an Admission Document and as such, a delisting is not a new obstacle, given that the Company will undertake to produce an Admission Document for the relisting as a new applicant on the London Stock Exchange, engaging in a regulatory process which is essentially the same as is required for a reverse takeover. There can be no guarantee either or both proposed transactions will complete in order to achieve this. The Company will update shareholders as and when it is appropriate to do so.
Now delisting wipe out?
https://www.growthcompany.co.uk/sirius-in-34m-aim-comeback-1605478/
floated 15 years ago
The company, which originally floated on AIM seven years ago and raised £15.5 million to bring a 25 million-barrel project into production, recently had its shares suspended after hoped-for licence renewals did not come through.
So they've failed once refloated and wasted how many millions?
and still nothing has happened
Sirius Petroleum Plc
("Sirius" or "the Company")
Delisting from AIM
Intention to seek Relisting on LSE as a new applicant
Sirius Petroleum (AIM: SRSP), the Nigeria-focused oil and gas development and production company, announces the delisting of the Company's ordinary shares from trading on AIM.
Trading in the Company's shares was suspended on 25 February 2019 in contemplation of a transaction which was deemed to be a reverse takeover under AIM Rule 14. While the Company continues to work on this transaction and the proposed transaction referenced in the announcement of 21 June 2019, the Company requires additional time to complete the regulatory process which would have allowed its shares to resume trading following completion of the transaction pursuant to Aim Rule 14 requiring shareholder approval.
Pursuant to AIM Rule 41, the Exchange will cancel admission of a company's securities where trading in those securities has been suspended for more than six months. In the case of trading in the Company's shares, the six-month period of suspension will end at 7.00am on 27 August 2019, when cancellation of admission of the Company's securities will occur.
Intention to seek Relisting
The Company is continuing to develop its portfolio and will seek a relisting on the London Stock Exchange as a new applicant (rather than pursuant to Aim Rule 14) as soon as possible. The process of a reverse takeover requires the publication of an Admission Document and as such, a delisting is not a new obstacle, given that the Company will undertake to produce an Admission Document for the relisting as a new applicant on the London Stock Exchange, engaging in a regulatory process which is essentially the same as is required for a reverse takeover. There can be no guarantee either or both proposed transactions will complete in order to achieve this. The Company will update shareholders as and when it is appropriate to do so.
Hi All. This is not a rest it is a coma. We are waiting for an extension to our exploration licence from a minister who has not yet been appointed. What a farce, SRSP should have been producing many moons ago, not waiting for a licence to maybe start drilling. This has gone on long enough, please put us out of our misery you Bozo. ATB Speedy
Just resting
is this parrot dead?