The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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As usual Adrian makes a spelling mistake but his general point is 100% correct... Now that they have managed to get the share price over their nominal value more confetti can be printed [as has been the basis of the business for years]. I expect to see a significant amount of new shares either placed or committed through some sort of open ended convertible loan type scenario.
#free_the_fool
Ocelot get a life , you have lost all your money like all lth.
There remains outstanding the Supreme court judgement in the Finch case - a favourable decision could help to lift UKOG's share price.
I think the limiting factor for RP/YA in asking for more shares is that they are only allowed to trade 20% of the volume each month and they don't want to be left holding the shares (they're not totally stupid).
It's been over a month since they last got any shares and the volume has picked up recently, so I'm sure they will try to get some more shares very soon, before UKOG uses all the allocation in a fund raiser.
How much of the £660k they go for will be crucial for UKOG, if they go for the lot it will only leave about new money £250k for UKOG which could be terminal.
The GM matters not, you don't need to do any deep level analysis on the fundamentals. The cash position is very weak, operational losses are huge, overheads from the overpaid BoD are significant. In simple math, the company has less than 3 months of cash left to operate, then it's game over. Oh and for those rampers who will claim otherwise, go on then, top up, break the bank, as the only hope of the 3 months being extended requires UKOG to raise more cash and that means huge dilution (if they can even find a partner to help them with the placing, they just burned the bridges with the current pals). Consolidation will see the SP reach 0.065p, LOL. It will soon return to 0.02p and then further south. The MCAP will soon be < £0.5m and the cash will be gone, as will the CEO who will leg it over the horizon to somewhere warm where he can dodge being arrested (which he should fear).
Forcing the EBT to buy 3 bllion shares had multiple positives for UKOG
Just about got the votes at the AGM - though if the withheld votes were counted as 'not for' the resolution they would have lost.
Owed £300,000 by the EBT
Added 150,000,000 shares to the authority to issue shares, now 1,627,000,000 which if they could sell for 0.065p would gross just over £1,000,000. Possibly all, or at least about 66%, needed if the CLN holders decide to convert before the AGM - I'm expecting sooner rather than later.
Decimal point issue.
0.025 in new money.
No which funder will put in money and how much discount will they want? 40% seems to be the going rate. Hold tight.
0.004 coming in old money. Dont forget the old money price. then add on 10% drop that occur when shares are consolidated. 0.003 in old money is about 0.03 in new money? So shares will open after dilution about 00.25. All investors wiped out. Turkeys voting for Christmas. LOL
"Why is this continually quoted at 0.006 when they can be bought for a fraction of that price ie 0.00006"
£0.00006 = 0.006p
Share prices are normally quote in pence (normally, not always - I have one that's quoted in pounds, for some reason.
No idea why and it really messes up my spreadsheet whenever I forget to convert it!
It was the EBT ploy that swayed it, raising the % for from 60% to 78%.
Note that even with grabbing control of 10% of the vote they only passed the 75% special resolution threshold by 3%, so they still need to tread very carefully at the AGM.
I don't think they made a blind bit of difference to the alleged results
The withheld and discretionary votes killed it.
Read in 5 columns
Resolution For Against Withheld Discretionary
1 5,035,686,271 1,419,608,340 155,706,220 1,862,126
2 5,033,882,809 1,420,606,054 156,511,968 1,862,126
3 4,998,942,952 1,456,264,035 155,793,844 1,862,126
4 5,052,575,486 1,391,369,920 167,055,425 1,862,126
5 5,037,985,182 1,398,983,123 174,032,526 1,862,126
The discretionary votes killed it.
AHH well done Mr Sanderson, you have alleviated my fears that you would not get a salary for the rest of the year. So now lets move forward and get some placings on the go.
Why is this continually quoted at 0.006 when they can be bought for a fraction of that price ie 0.00006
I wonder if these results can be audited, I feel like it's not beyond him nor the company to totally fabricate
So without the EBT chicanery they would of only got around 60% for each motion and the two special resolutions would of FAILED!
Just need to wait for the cap in hand for money RNS.
UKOG (LONDON AIM:UKOG) is pleased to announce that at its Reconvened General Meeting held earlier today, all resolutions put to shareholders were duly passed.
Just wondering why the result of the OGM has not yet been published !
The AGM didn't take this long ???
Down to he share holders do we support another drill from another angle and if it fails we are gone Or do we drill and find a gusher that will give us a good return for our faith or let just let it go now without a try. Very simple I Think
We will all agree oil is a risky business so anyone I here should know you got to go with the flow or go bust
Got to try and try again to survive or lose the lot, common sense not rocket science
Gwynwin,
it took a little over 4 years for UKOG to turn £1000 into £10 - ie from a SP of 1p to a SP of 0.01p. Last saw a penny in early December 2019 - when 'investors' were getting (justifiably) nervous about the time it was taking for UKOG to reveal the results of initial testing of HH-2z.
So a bit pessimistic to say short term.
Anyone not voting for res is only losing their own money
And pretty stupid
Consolidation is 1 for 10 not 1 for 100.