Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Still the silence. Excuse my lack of focus, but does anyone know offhand what the typical wait is before SLE decide they should tell us small fry that things are still progessing, and we'll have an update in due course? I'm getting very negative feelings about groundhogs of late...
Previous double bottom at 92.4. New one has formed at 113.4. per chance, another 20% on the way? It would be nice of the tiny number of institutional investors who've come on board in the last couple months gained traction. We need institutional pressure to bring about dividends.
To dream? Bank holiday weekend in the UK next. What are the chances of an RNS before then? It'd be nice to see things tied up before that happens. Then we've only got 3 to 4 months to wait for accounts to be published and relisting to happen. Assuming the world doesn't get cold feet and walk off, deserting SLE. And our dreams. Chinchin.
Six months ago, possible less, there were no fund managers on board here. Funds are the main drivers of dividends, we had none. I checked again to day
Shareholders
Name Equities % Valuation
Adam Usdan 29,794,878 16.15% 37 M p
Richard Griffiths 24,313,224 13.18% 30 M p
Roger Goodwin 1,527,830 0.83% 2 M p
Liontrust Portfolio Management Ltd. 855,724 0.46% 1 M p
Clive Whiley 100,100 0.05% 125 039 p
Dimensional Fund Advisors Ltd. 73,670 0.04% 92 024 p
SVM Asset Management Ltd. 44,260 0.02% 55 287 p
Mladen Ninkov 33,001 0.02% 41 223 p
Universal-Investment-Gesellschaft mbH (Invt Mgmt) 17,156 0.01% 21 430 p
Linda Naylor 10,000 0.01% 12 491
Tiny little per centages, but they're onboard. perhaps this is what's driving the shares.
So that's the (very good) news. Are we going to see a sell off now, as there's nowhere for the money to go? There's been quite a rise since mid-december, but still off the 6 month high, and better than half the all time high. The long term chart is showing quarterly peaks over the last year, as the market buys in in anticipation of news like this, then sells when it comes through. Guess this is the way it's going to be.
Personally, I've always been a glass half full kind of person, but with the ongoing mdwestern/eroton/ELI thing, it's starting to look like someone stole the glass while we were busying ourselves with other things. OF strikes me as being a "glass wating to be filled" kind of guy, but although he's convinced some heavy hitters i.e. Tosca Fund, Nigeria is starting to look like a dead end. However, at a risk of mixing metaphors, "Never draw the curtains until the sun goes down".
Anyway, we can't draw the curtains until SLE is listed again.
With the latest RNS being easily interpreted to say that Tri Ri have either got cold feet over the deal or aren't actually financially capable of fulfilling it, is SLE officially a zombie company? To all intents and purposes, it's dead in the water, not able to move forwards or back.
"the Board has nevertheless determined that it is prudent to seek an alternative solution should the TRAM investment delays continue"
Someone needs to tell OF that a rabbit needs to have functional legs when it's pulled out of the hat, otherwise it's just another dead duck.
Onwards, and upwards, pleaded the marathon runner, as he blundered through the chest deep sludge.
Hi Callas (I can call you Callas, can't I?),
As per Bandit1, it's the Takeover Code, rather than AIM. I either mis -remembered it, or it was misposted somewhere:
https://www.thetakeoverpanel.org.uk/the-code
They already had that right/obligation. AIM rules state that any entity/body/person taking on any more than 30% of the co's share holding are obliged to make an offer for the remainder. Part of the previous deal with Mid Western was that they wouldn't do so.I imagine Tosca must have made a similar agreement.
Agreed. But bear in mind there was a long wait before the termination of the Mid Western and the establishment of the ELI deals were announced. The mind boggles as to what rabbit is going to come of the the hat next. And if it's going to have any legs...
Are we going to run a sweepstake here then, guessing on the possible outcomes.
1) Tri Ri has bottled out and deal is defunct. (Most likely scenario)
2) Tri Ri has sent the money to a Nigerian Prince, who has done a runner.
3) 1) + OF has tried to recover by going back to the Mid Western deal (if that's possible, re NNPC)
In the event of 1) surely SLE becomes a cash shell, and Tosca tries to recover its investment, by whatever means. That would give some respite to us small investers, as they paid about 60p/share.
Any other scenarios welcome.
This may be old hat to most posters to this board, but a quick resume of Tosca, who effectively own San Leon, if not in fiscal reality.
https://en.wikipedia.org/wiki/Toscafund_Asset_Management
They've been quiet in the extreme (publicly) on all San Leon's trials. With their profile, you have to wonder what their opinion is on all of this.
It beggars belief that there's been no communication on this debacle, but it just underscores what little fish we are in San Leon's pond. Tosca will be fully informed, no doubt.
My own price tracking graph is showing a very discrete double bottom at 82p, 13th & 15th. This looks quite insignificant on its own, but in my experience, it has often been a prelude to a significant rise. Hopefully, not tempting fate here, but hopeful for a decent showing in the New Year. Hairy Crimbo all, and may a decent return come our way soon.
36800: The key to SLE is "exploration". If you went through all the companies listed on AIM, present and historic, you'll find a similar story. The current opportunity is always going to be the big one, until it isn't. Check out Challenger Energy. Previously Bahamas Petroleum Company, under which banner it was the sole operator in what was "rumoured" to be the biggest oil resource since the middle east. Which came to nothing. Now operating at the mouth of the River Plate, where it has ostensibly hit big. But the share price hasn't moved in months.
You pays your monies, and take your chance. If you don't like the downside, put your money in the bank.