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I'm actually glad we are now moving . were I don't no but hopefully somewhere . the last BOD made an absolute mess and I like a lot of others are siting with a lot of funds tied up and no end in site . hopefully we can get over this mess
and finally get fair value for our investments , The new proposed BOD hopefully can turn this round and keep it in AIM
Does any one have Adler's contact details? Like email or phone number? Please share if you do. Kind regards,
Look like a very experienced lot Adler want to bring in. Just need assurances on their intentions and we could have a new dawn.
I guess they are no longer "fully supportive" of the management team. Wonder why? It would be interesting if they contacted other shareholders to set out their prospectus and win support to dethrone the current Board. But they probably don't need to do that.
I should have added the share price at the time of that RNS was 130p and increasing with the real interest of the market at the time that saw that price as under valued even at 130p.
Adler paid for the most 12p a share which equates now to 240p a share. So Kornonov is probably well pissed off at the share price and lack of progress made over the last few years. Not to mention that infamous RNS they disgustingly made "we see no reason for price increase" which killed the price momentum dead and reversed it. There was every reason for the increase and didn't take the golden opportunity to reiterate to the market. We haven't recovered from that since.
Price around then was Around 4-5p that’s pre 20-1 consolidation so equivalent to ~80-90p per share
“08 July 2014 Urals Energy PCL ("Urals Energy" or the "Company") Holdings in Company Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, announces that it has today received notice from Adler Impex S.A. ("Adler") that following certain share acquisitions on 3 July 2014 it now holds 112,561,386 shares in the Company representing 44.59% of the current issued share capital. Adler has informed the Company that it remains supportive of Urals Energy's management and strategy.”
Does anyone know, or know roughly, what they paid for their 44.59% of the Company? If its held in trust for his daughter, Kononov is hardly likely to want to crash the company. And I expect he wants an AIM listing, to have a toehold in London.
He, or more likely his mates, could buy the rest of the comany for a couple of mil right now. The Board have brought this on themselves though.
So the boardroom battle rumbles on, with no clear victor in sight yet.
AHA, finally they kicks off the useless BOD who does little work and getting paid well for living in London ! This is well planed takeover , and make every sense for all shareholders (BOD has 3%), carry on trading and MA with the biggy field. ADD NOW !
My best guess is that his cronies already have that 6% between them. I don't know, but don't directors have to have an interest to be directors? This stinks for sure.
If that’s the case it’s certainly turmoil times indead and certainly not a share that’s going to reach a £1 anytime soon
if Adler wins, most likely he will take this private (which means sp will tank) and he can buy us out cheaply.
thats dangerous but they almost owned 50%.
RIP ?
will having Adler incharge secure the renewal of the banking facilities that UEN use in the new year or can the existing directors secure it without his support?
Who will now stop the big Kon from sticking his snout in the trough and pigging out!
If it’s 50 percent I’m sure koronov knows and can persuade the last 5% needed to secure it. Such a shame and I hope the company are able to turn this around. I nearly invested at 80p thinking it was a bargain. For once I made the right choice but feel for other shareholders at the moment. Could still be a good buy at this level if things get sorted but a bit to much risk for me at the monent
Wonder if is this a 50.01% or 75.01% vote needed to pass as It’s a complete change of all the company.
If the meeting goes ahead how hard will it be to stop the resolutions from being passed? They own 44% of the company so would need near on everybody else to vote the other way. Also if it goes ahead with the warning about AIM rules... what are the implications of the company is removed from AIM for current shareholders???
Kononov is making his move...
Looks like we're on track for record low volume. Hold on to your hats chaps, the interest in this share is overwhelming.
How long does it take for the majority share holder and president of part of the company to declare change of ownership of his shares? Aim rules are 2 days to report via TR1, why has UENs broker not pushed for this to be confirmed either way. Or is The “believe” statement complete bs and he has lied while he moves or plans to move them around. Or is all of the Adler co. in his daughters trust. On the upside Brent’s up today, news out is looking positive for oil supply cuts to be arranged at this weeks opec meeting.
Kononv is not doing his daughters inheritance much good unless the shares go back up.. He has quartered his worth with his shenanigans. Best luck all..