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Outstanding balance of the convertible loan down to £0.42m.
"Why the hell did shareholders vote and give authority to issue more shares? "
Sanderson has the shareholders over a barrel. If authorisation to endless share issues is not given then you will lose all your investment; the company can only exist by continuous share creations.
Its brilliant, for Sanderson and co; Has an endless license to print money on the faint hope that his next get rich scheme actually comes to anything.
Be it Billions of barrels in the Kimmeridge that only he was clever enough to find; if that fails, maybe a huge gas field no-one else has thought to develop; or how about missed pay's in Türkiye, or the next shiny thing Hydrogen storage or how about geothermal? Its endless ...... until everyone wakes up and finds they have lost 99.9% of their money and finally smells the coffee.
Ocelot,
'this sounds very much like business as usual.'
Spot on, a BS RNS - and likely eventually to come to nought, even if Loxley is farmed out.
Ilovesushi,
you're right that the resolution to authorise more share would have been passed without the 3 billion EBT shares, the problem was disapplying preemption rights that previously the company insisted was required had to pass with 75% of the votes - without the EBT shares voting in favour that resolution wouldn't have passed.
Https://www.bbc.com/news/articles/ck5k997yxnko
Hydrogen produced here will be stored in caverns on the wilton site
Why the hell did shareholders vote and give authority to issue more shares? They have now voted to dilute themselves to death. The company needs cash to pay Sandersons huge wages, maybe not for Loxley. FUNDRAISE COMING. Come on own up which Turkey voted to give the company authority to issues more shares?
Is he taking 30% of the Market Cap a year?
Would one of those 'UK listed energy companies' be PPP?
Shareholders need to vote the CEO out now. Mind you, he's taken the lot out the trough, so it's hardly worth it now.
He wears brown trousers these days so that you can't tell he's shat himself over facing shareholders.
You make SS sound like a Hollywood star on the red carpet!
Pink trousers can't hide from it,im sure the shareholders love him.
It's not just the content but also the tone of the RNS which is encouraging: for all the purveyors of doom and gloom, this sounds very much like business as usual.
At the time of the release of the annual report, a poster remarked upon the absence of the name of the CFO. The CFO's name appears with that of SS at the bottom of this RNS.
You get clown of the year award insidious. shameless individual
SP looks like it has found support, onwards and upwards....
Sorry my mistake
Yes Envoi not Envio
Skwizz posted ""The RNS smacks of desperation"
Exactly what I thought."
UKOG should have saved themselves the RNS fee . Its a revelation; UKOG have NOT been unable to farm out LOXLEY and they are no closer to one today than they were 2 years ago. The other two interested parties must be considered 'timewasters ' because UKOG would not be hiring 'Envoi' to market Loxley otherwise.
Envoi, oh dear, oh dear. say no more.
UKOG actually shot themselves in the foot today with that dismal RNS.
"Envio is not a specialist firm. According to Companies out it's run by James Wilkinson who also owned a company called One Event Services and before that Funky one sound Hire"
Its ENVOI not ENVIO
Bahahaha god this company cracks me up. RNS worded as though this is their first attempt at Loxley farmout and now come the ramptastic tweets to suck in as many new punters as possible. Problem is...nobody is buying it.
Lets have a think about this. Who in gods name would fully fund appraisal drilling and testing programme costing 10s of millions when they can simply wait (very short time to wait) for 88e to go under and pick it up for a song at auction??
Anyone who has expressed "interest" are probably having a sniff around and a tyre kick to see if it worth bidding on once the block ends up in auction haha.
And as for this "specialist firm", who wants to bet this is a ploy to extract every last penny from the company via mates? Or using this as a ploy to get away another placing to pay himself a salary? Too predictable. Look out the window Sanderson, theres a flying pig and unicorns jumping over rainbows. More chance of that happening than getting a FO! Or spend the little remaining cash on lottery tickets perhaps? This would cause more enthusiasm than this loxley dog.
Its OVER Sanderson! Nobody will ever fall for your BS again. Its 1 second until noon. TICK!
Scamdo thought he found another carrot to dangle but nobody has took the bait, game over.
Jerseycrew.
No double gazing but
Renting and leasing of media entertainment equipment.🤣🤣
Any double glazing activity in the history?
Envio is not a specialist firm.
According to Companies out it's run by James Wilkinson who also owned a company called One Event Services and before that Funky one sound Hire
So Loxley going to get pressured up to produce gas for reforming into hydrogen via the solent cluster and then into the caverns at portland.Expect government help to wash out the strata with brine into caverns UKOG placing itself to help net zero....
"The RNS smacks of desperation"
Exactly what I thought.
Do they retweet every time 3 or more disgruntled share holders reply calling them out for the sham they really are?