Member Info for Altag

1970John you need to start behaving now, you let slip over the weekend your a Man U fan so we all know where you live now ….. London! ;)

Probably forgot what the other password was :)

So the bonds converted at c6.95p they aren’t yet tradeable but that resulted in a c10% fall, were people were willing to sell at 6p.

I’m not surprised the bond holders are taking advantage of the low share price if shareholders are willing to trade them at these level……if I was them I’d be filling my boots at the moment.
Shareholders can’t complain if they are willing to trade at these level imo

Well pointed out fish these shares aren’t tradeable yet…… so can’t be sold straight away -

Applications will be made to the FCA for these Shares to be admitted to the Official List and to the London Stock Exchange for the Shares to be admitted to trading on the London Stock Exchange's main market for listed securities within the next twelve months, in accordance with Listing Rule 14.3.4.

Has sharebels post been removed already lol

Yeah I’m petrified

Bit early in the morning to be drinking dusthater

On page 150 of the prospectus -

“As at the date of this Prospectus, the Group has an immediate working capital shortfall. Although the Company’s US operations are expected to cover its basic needs from positive operating cash inflow for the next FEW months (based on current commodity prices), the covenants imposed by the Senior Credit Facility Agreement prohibit COPL America from sharing its profit with the Company before the Senior Credit Facility is repaid. The Group will be required to obtain additional financing of approximately $15.7 million in order to have sufficient working capital for the period BEYOND the next 12 months from the date of this Prospectus. “

So why the need to raise the Administration process ?

I think it’s no coincidence that they say they MAY do this at the end of March, that is when the next test of the liquidity covenants can be reviewed by the senior credit lender and in Dec 22 COPL were given a “one off” waiver. Rather than worry about this process in my view shareholders should see it as the COPL board covering off the potential possibility that the senior lender could call a default on the loan.

You may also note that on page 151 of the prospectus

“The Company will seek to ensure that any future equity fundraising or financing is completed prior to 2024. “

Prior to 2024! Hardly the pressing timescales some are suggesting

Gaza - got to admire the work ethic and over the weekend too! I’m still convinced all will be well at COPL and no amount of posters will alter my view

There’s seemingly a lot of guessing dressed up as “facts”. We will find out the position by the end of March. For the PI it’s a decision of either buy, hold or sell. That choice is there Monday to Friday. Enjoy the weekend guys and girls

Thanks MD248, you are more than likely correct….I’ll be honest didn’t watch the share price all day. Still think there’s no reason to delay those size trades to the end of the day …. plenty going through at that level and what about the 750k and 734k trades

Top two look too high a price to be sells, others could well be but so far not enough to warrant a 6% drop in my books…and also I can’t see why these are delayed they are not putting an orderly market in any jeopardy! Potential Shenanigans?

Billbo - unless you need to sell immediately the current share price is nothing but a number on the screen…..sentiment changes fast….COPL not special,or different to a number of other shares I’ve been in. Patience needed and if you don’t like what’s said here perhaps just take a break from the board bud

Well re-completion news also hopefully by end of Feb?

For those of us that have done this for a few years we know it’s all part of the game……nothing to get too excited about. SP well north of here in two or three weeks time imo

Perhaps shorters closing out and working the book…..defo something not quite right in the trading patterns……unless significant delayed sells but even if there is someone has got the hoover out !

So they are selling 750k chunks at 7.5p - thanks Pilot, things are looking up!

Bruttus - first point of prospectus is - The securities being admitted to trading are Common Shares of no par value which will be registered with ISIN CA13643D1078 and SEDOL number BKRVWF4.

Ie before this they aren’t admitted to trading!

I can buy argument the shares could have potentially been traded OTC but not directly via the LSE

Always watch the big money….tells you everything you need to know!

Brattus - from rns - Applications WILL be made to the FCA for these Shares to be admitted to the Official List and to the London Stock Exchange for the Shares to be admitted to trading on the London Stock Exchange's main market for listed securities WiTHIN the next twelve months, in accordance with Listing Rule 14.3.4.

- so not yet!