Member Info for cadell

Seems we only have two possibilities: 1 the BOD have sold the company unnecessarily and at below value or 2. The BOD have mislead everyone as to the value of the assets. I do hope some forceful shareholders can be present at the meeting to demand an explanation for the BOD's actions.

Disappointed not to flow more, but a flow is a flow. As usual in such circumstances, wild over-reaction with price over-shoot. I will sit tight and let the exploration steadily unfold - as it will. More drilling to come and steady cash flow. Could be a lot worse.

Moneylender, any chance you might send a note to MandP telling them of the votes you have been promised as a NO and intimating that a better offer might well succeed?

I'm not at all sure that the Mand P offer isn't better than the GeoPark deal. M and P offered less cash, for sure, but their shares are doing well and they promised to move from Aim to the main exchange. Curious that they haven't said any more, their initial offer contained the right to adjust if another party came in to the ring. I'm powerless like all of us, but there's a nasty smell ...

The big thing next , is when a bid comes for Spirit. Now that Will be interesting!

Moneylender, we are all grateful for your lead on collecting votes and doubly so at a difficult time for you. Once you have the tally may be we can all come to some agreement as to a way forward.
As a starter, we might inform the Board of the strength of discontent - the likely number voting against - and ask for a full explanation of their actions. That would be simple and cost nothing.

I've considered the situation as described by Superdad, and the way I see it is that Geopark have such a sweet deal they will not want to back off. If we NO voters say we would accept an improved offer of (say) 24p, I think they will come back with 22p. That wouldn't be a fortune but it's better than what's on offer right now.
However, it is right to consider the more difficult situation of the whole Board resigning en mass. But would they? They have lot to lose as well. I have no doubt at all that an interim management would be formed and the big shareholders would insist on it.
My opinion is that the key thing is to mass enough votes. We can then present our case to the present Board. or at an EGM.

Thanks for the analysis, Porsche. I'll keep my old car and lock away the shares for a rainy day.

Frankly, I can't understand anybody selling at this level and at this moment unless they badly need the cash. I regard this as almost riskless, with the chance of a big upside. With all the uncertainties about the economy/recession et al why take a chance? Sure, we all have shares we would like to buy but they all carry risks. I'm sitting on mine and prepared to watch.

My 136,000 is for NO.

Now that Asset and Mercantile seem to have picked up 5% of the votes, the games afoot!

I'm with you and will check if my shares are in Crest.

Is there no possibility of setting up a shareholders committee to investigate (1) what other bids were on the table above the 17p original offer (2) why accept any bids at this price when the alternative is to run a profitable company better. There are a lot of unanswered questions and we need a legal mind with the clout of a sizeable number of shareholders behind him.

Seems to me that the situation is that we have 23.8% of shares already committed to the sale. If we allow, say another 6% for shareholders selling out, that still leaves 70% of free-voting shares out there. This deal can be outvoted and should be. Why haven't we been told of the alternatives offered?

I'm not a big shareholder -£25 000 worth - but I'm going to sit it out. Who knows what might happen?

to turn down 17p as totally inadequate and then say 19.2 is a good deal speaks for itself

Ad, the problem for me is do I want to be cremated or buried? Assume being cremated costs even more carbon emissions . Why not tax all child births for the carbon they are about to use/create/exhale/**** against the wall.
Doomed, we're all doomed...

Anyone getting involved with Vast had better be well heeled. A gamblers share. I got out a year ago with my shirt.

Have heard lots of muttering about the cost/loss of capital with Fracking but I'v not seen any facts. Anyone no more details? There has to be a tipping point depending on the price of west oil when people start to go bust.

Despite all the talk, I don't hear buyers knocking on the door. The 'For Sale' sign is getting a bit worn. Let's hear about plan B.