Member Info for deltavegatheta

It there a maximum price they can close early, but this one only had a minimum price

Lunn will want to sort out the $4m Petroquest are owed first while he has all the power before appointing a new CEO (that’s if he can find someone who would want the job)

Newuncle, they do need to file a TR1, FCA DTR 5.1.2

Newuncle the 5% rule is non-UK issuer not buyer

The 6m shares would be above the 3% threshold so require a TR1 which hasn’t appeared, so I suspect it is a MM who can hold up to 10% before issuing a TR1.

Nobody knew about them as your best buddy Tom neglected to disclose them

If they weren't issued they can't be exercised, I can't find any mention in the annual reports that they were actually issued.

The original agreement with GEM included the issue of 12,000,000 warrants exercisable at 40 pence each, but I can't find any evidence they were ever issued.

So I maybe PPP tried to use 40p as part of it's current negotiation with GEM, but doesn't look like it succeeded, seems like GEM are after cash hence this placement.

Lunn had to issue a RNS disclosing all the issues that he had found prior to the placement or risked being sued/prosecuted.

You can face relegation without being relegated

MyIPA = Xilgrin

Good luck with that argument in any forthcoming libel trial

The sentence in the RNS isn’t in the present tense, I’ll let ChatGPT explain:

The phrase "to face" is in the infinitive tense (also known as the base form). It is not tied to any specific time frame but instead expresses a potential or expected action, often following a modal verb or a causative structure, as in this sentence.

MyIPA, the link you posted proves 100% that what Lunn said in the RNS was correct. Yes it was withdrawn when the parties enetered negotiations but PPP was facing a winding up order.

UKLR 21.1.2

Examples of when FCA may suspend

“(2) the issuer has failed to publish financial information in accordance with the listing rules;”

https://www.handbook.fca.org.uk/handbook/UKLR/21/?view=chapter

Note no distinction between full year or half year, audited or unaudited.

So no relist until interims published.

Large existing shareholders might in order to keep the company liquid

It managed to increase its number of shares outstanding by 5.6 times! By far a record even for UKOG!

Timbo is correct and didn’t even need to employee an accountant to find the figures!

*licenses

Back in the real world GV own zero oil wells & PPP’s wells have produced zero oil since April.

All the incenses owned by Nobel are showing a delinquent on the Texas RRC site, so it is currently illegal for any work to be done on the wells, let alone pump oil from them.

ATrades, 9p is too high given all that’s gone on and if the placing fails then its end game for PPP. That leads me to believe a large existing shareholder who doesn’t want to see PPP fail has agreed to bid 9p for the shares, but it could also be that it had to be 9p in order to raise enough money to keep GEM at bay.

We will all find out next week.