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I think EGM is now more of a formality and removal of the current BoD is almost given. Adler has ~45% shares, I am sure they have bought some more. I have invested here a little bit and have sent my proxy in favor of the resolutions... plus I know some other PIs who collectively have quite decent holdings and are proxy voting in favor of the resolutions as well.
I hope Mr. Kononov is listening and will make some sensible plans and announcements to sort out the mess. The company has strong fundamentals. And there are many factual reasons based on which this should do well. I dont say that it will be 10 times over or 5 times, but definitely much better than the current sorry levels! I wish every one all the best and I am sure that the patience and perseverance of long investors will pay off soon.
Really pissed at the current BOD. When the share price nose dives, they never come out and say that there is nothing material that is driving this share decline or that such and such plan is in place to address the issue, if any to give some confidence to the investors.
But when it starts to creep back up, they come out to kill it. Well, hopefully its only a few days left till they are kicked out. Cant wait that to happen..... Once they are gone, hoping some sense will prevail and there will be more meaningful news.
Thanks Urraca. Will wait for a week and then contact my broker. Also, I read the full RNS just now and they have given details on how to give a proxy vote. Obviously, they are desperately trying to for an AGAINST vote, but I guess the same process will be for the FOR vote. Thanks again.
Hi guys,
Can someone kindly tell me the process of proxy voting. I am relatively a new investor and have never voted or given proxy rights to anyone. I have some shares here and want to give my proxy voting rights to Mr. Kononov to drive the current BOD out. Any ideas how I can get my proxy voting right to Mr. Kononov? Kind regards,
Does any one have Adler's contact details? Like email or phone number? Please share if you do. Kind regards,
I completely agree with your assessment. We know that the fundamentals are sound... oil producing, debt free, huge reserves, refineries, dividend paying etc. But ehy is it that the share price seems to be stuck between 90-99 levels. Why would MMs be interested in keeping it low? Any thoughts anyone?
Late massive buy of 20K shares!!! And price goes down??? Interesting! Someone is taking a position or strengthening it, it seems!
Tried buying online and nothing was available. Had to go through broker to buy even 250 stocks. The free float is drying up??? Or MMs holding up for the next news or increase???
Not sure whats going on... but I have tried buying shares for 1000 GBP and i am unable to buy! Tried many times. and the price seems to be going down. Does not add up!! There is got to be something brewing up in the background. Any ideas, anyone?
Hahaha. Whatever makes you sleep better at night.!!! Take care
I have been very respectful in my comments and expected the same.... but I was wrong. There was no need to be rude or use this sort of language. Shows who you really are and your mindset. Sad..... Let's stop this and let the market forces decide.
Not sure if you are even reading my post properly. Your original comment was that there is nothing to drive SP up. And I gave some specific facts for the last 5 years as the reasons why I believe it should go up. Sitting on the sidelines and making negative comments is called...... I am sure you know what I am talking about. Anyway. Just had to say my piece as I have been seeing all these negative posts from you. Take care and kind regards
Dear Gambier, Just by numbering your thoughts don't make them facts. Whatever I have written are facts... please let me know if I have stated anything non factual. What you have written mostly is your opinion and point of view and numbered them. There may be many reasons for this share to be depressed now but this will not stay for long. Happy for you thay you tripled your money. And my analysis is that this share will be a lot lot higher than current non-sensical levels. Kind regards
Dear Gambier, Not sure why are you so negative about this share... there are lots of reasons for this share to go up and it will go up sooner or later. Reasons like: - coming out of almost a bankruptcy in the last 4-5 years to a more stable state - restructuring the balance sheet to write off all the losses, - able to sell two tankers instead of one during a year - investing in drilling and looking for further growth by acquiring new companies - Sorted out legal issues facing the company - keeping share holders well informed with frequent operations update and financial reports - paying out dividend for the first time in its history All these compared to where it was 5 years ago...are some of the reasons that this should do well. And its an OPERATIONAL company for God's sake which is actually selling... unlike many other paper companies which are far away from selling their first barrel of oil...and still their market cap is many times over UEN. I have been long invested in this share and i am sure that this will finally go up. this non-sense price will not stay for long. My analysis is that when they sell the second container, get the money in the bank, pay the dividend..which all will happen by end of this year... next year you will see a fair and stable price for this share. And its not going to be around the 40p but far far higher than that. Kind regards,
I think its a good RNS and good set of results. and for the first time, they will be giving out dividends. Small steps, but definitely in the right direction. People who have stuck to this stock for long term will be rewarded. Here is a small part of the RNS which gives me the confidence. Further to our announcements of 18 January 2017, 21 April 2017 and 26 May 2017, once we have received Court approval in Cyprus for the offset of our Cumulative Profit and Loss deficit by our substantial Share Premium Reserve, we will seek further shareholder approval at an EGM for a dividend payment to shareholders. Subject to these approvals, the Board proposes that the maiden dividend should be approximately 6.2 US cents per share, equivalent to approximately 10% of our 2016 EBITDA, costing US$780,000 (£604,650). This provides shareholders with their first yield since the listing of the Company, but more importantly it is a statement of our intent to follow a policy of rewarding shareholders as we rebuild the Company.
Dear Gambier, believe it or not, but I have read a lot of your posts on UEN. And I respect your point of view. A lot of what you say makes sense. But there are some discrepancies. If one has so many negative points about this company and share, why would one stick to this? Also, normally one would feel happy if one has doubled the investment, infact in this case it might be close to tripled! I think you secretly admire this company or may be you are the one who is buying all these stocks... the last sentence is a light hearted comment, not serious. I have few things to be positive about. I am not sure if you have been holding this share for more than 18 months (what you mentioned). But I have been on this for a long time... I have seen it avoid the bankruptcy, the sberbank loan disaster, internal mishandling and wrong doings of the directors, legal issues it faced etc. But it refuses to go bust... and keeps coming back. Continues its operations and slowly and surely even expanding it. As they say, what doesn't kill you make you stronger. Now with the new management and board, they are keeping shareholders informed, doing the right things, even correcting the financial structure and giving the right signals. I am sure an astute investor like you know that its not just the facts on ground today which matter but also the past history and future prospects which play a key role in investors' confidence and eventually the share price. I believe that its stabilizing now before really making a stellar lift off. I agree with you that it may not happen in next few months but may be in a year or so... but it will happen and you know that as well. That's why you are hanging on. Other much smaller companies with not even any oil production or revenues have a much higher Market cap than UEN... its bound to go up. Again, no disrespect intended.. just sharing my point of view and 'positivity' about UEN. Kind regards
Dear Gambier, with due respect... why are you so negative about this share. You were saying previously that this will remain sub 2p which is its fair value when it was hitting 1.5. Practically it has tripled from its lows and there is support at 4p level. How can just one person keep buying and keep pushing prices up. I think the new management has taken some good steps... at the very least they are keeping us informed and giving the right signals...like cleaning up books and making way for dividends etc.
Hi Heart10_5. Thanks for the tip on KOD. Any other stocks which are hot in your opinion.