Member Info for Bebeto

Somerset UK, The company can issue up to 20% of the share equity annually without the need for a prospectus.

The submission of the prospectus is the actual reason why we know the company is intending on issuing more than 20% of the share equity.

PipeDragger Agree, it was more of an ambition for the company.

Having more than one well generating revenue reduces the future economic exposure.

Agree, If you don't know how much funding you're potentially receiving, it could impact on the prospectus submission and maybe require updating as circumstances develop.

When submitting a prospectus for a share issuance in the UK, companies are required to provide accurate and detailed information about the offering. This includes the number of shares being offered, the purpose of the issuance, the price or price range, any conditions, and other relevant information. This transparency is essential for ensuring that potential investors have the necessary information to make informed investment decisions.

On average, it might take several weeks to a few months for the regulatory authorities to review the prospectus, perform due diligence, and provide a decision. However, the exact timeline can be influenced by factors such as the complexity of the offering, regulatory requirements, and the workload of the authorities.

Not a rampy analysis, the company only really needs to sort out the debt and perhaps bring online another well or two.

Perhaps he was referring to St Brides PR company , I see Clear Capital has also departed.

Coldspy, you've let your inflated ego of yourself cloud your judgement.

I know you're the biggest trader and shorter of this share.

Andy you know nothing of any of my holdings.

You've been trumped old fruit.

Learn to read a RNS and market rules, stop trading off the BS you try and pump and stick to the facts.

There's No shame in being wrong or down on your investment but feeding off others is pretty low.

Anyone can start a BS rumour about a possible takeover /sale but the market will be updated via RNS, even if it's just an intention to do so.

For IOG, the requirement for a company to announce its intention to explore a potential sale is outlined in Rule 2.2 of the UK Takeover Code. Rule 2.2 specifies that when a company becomes aware that a potential offer might be made for it or for another company, it should make an announcement confirming its position regarding the potential offer.

The rules state "The acquiring company must publicly announce its intention to make an offer for the target company" is a fundamental principle outlined in Rule 2.7 of the UK Takeover Code. This rule requires any party that is considering making an offer to publicly disclose its intention in a timely manner. The purpose of this rule is to ensure transparency and fairness in takeover situations by providing shareholders and the market with relevant information about potential offers

Thankfully this is main market listed which has a specific limit for issuing additional shares of 20% without a prospectus.

AIM listed exploration companies on the other hand pay for their exploration through placements without the same restriction.

If GCAT tried to list on the main market today, it would not meet the £30m MCAP minimum threshold.

Without extra funding, I can't see where the funds to pay for the exploration would come from.

The priority for the company must be to generate increased revenue.

When or if funding does come it won't be GCAT's decision.

Prospecting Licence PL/2018/0189 expires November 2024, don't let Robbie forget.

Coldspy has resorted to deramping GCAT again because I have a small holding there.

His ego must think that's going to bother me.. Not one iota.

Dream on Coldspy, you've let your ego cloud your judgement.

As a general rule of thumb, those claiming to hold a substantial amount of shares are actually the biggest traders and shorters of the company because they're not daft enough to hold exceptional losses.

So thanks for outing yourself too!

Debt for equity hasn't gone away at all.

The waiver was only pushed back for €5m instead.

Say whatever you want, increase your substantial holding and put your money where your mouth is.

Poorinvestor, read my replies I'm not confused at all.

People are underwater and will try anything to get out of it at the expense of others.

Market always decides in the end.

If a company has been put up for sale it would RNS it has done so.

The same company but different capacity.

I refer you to 7th June RNS:

The Board has been proactively taking mitigating actions to address balance sheet risks, including appointing an independent corporate finance firm, Smith Square Partners, which has considerable experience in advising companies in similar situations

Actions speak louder than words, they brought in Smith Square partners to advise them out of the situation and that's what all the official RNS news shows.

The only question mark is how are they going to do it.

Coldspy - just for you on this occasion :

Smellyben's post was very accurate but made to look vague and had 5 likes.

So I filled in the missing details and CDF then replied with the answer I was looking for.

I'd never seen yours but the 8am comment suggests a ramp fest going to start.

There's no other posts on here to focus on.