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Cant really post contacts on here?
Johnnyc, Yes that is my understanding. All shareholders were offered the same terms as the bond holder, share at 50p, plus free option, plus 50p option at exit, to raise £20m with close date of 12 April. Then no communication at all until short email on 26 April stating that company in administration. My understanding is that the bond holder / shareholder who had loaned the company money was the creditor who triggered the administration. That same person are now joint owners with Aston Ventures and another large shareholder whom previously withheld funds from the capital raise. All very dodgy but I guess question is whether such obvious collusion can be proved and even then would it be illegal? Also there must be a question as to how the IP (insolvency practitioner) valued the company at £18m only 2 weeks after Aston themselves had valued it at £300m! That's a huge disparity. Also according to Begbies Traynor "the IP is expected to market the business to allow 3rd parties to participate in the purchase should they wish. This is required to demonstrate the ethical approach required by law to prevent potential abuse." Anyway if anyone hears of any shareholders action group please let me know as a long standing Ve shareholder I have lost a substantial amount and what makes it worse is that after putting up my share of the £20m capital raised (now to be returned) I will have to watch these guys reap huge gains. How many billions do people like Doug Barrowman need to have before they stop ripping off ordinary people of their hard earned life savings?
hi jonny c, were you a shareholder in ve? do you have any info re any legal challenges?
you can take broker target prices with a pinch of salt, they have been consistently wrong last 18 months....what speaks volumes is no BOD purchases...either they no something we don't or they have any money...either way is not good.
Am sorry I don't agree. They need to deal with the reality that the oil price is where it is and not going anywhere soon. Get a deal done and get share price moving rather than sitting around hoping for the oil price to recover. Long term investors have shown extraordinary patience already.
that's my concern, if they are waiting for the oil price to recover they could be waiting a very long time, meanwhile share price continues to go south and we all lose even more money. it would be nice to know what if any price/deal they have turned down, what they are looking for and what they believe the timeline may be to achieve that....
so re farm out, what is a price that is not too low? and what are the circumstances that will produce that price?
maybe this will help you.... https://alison.com/courses/Writing-in-English
so what is going to happen to move this share price upwards by end of year and/or next 6 months??
Maybe Jenkins should suggest that BOD get paid based on share performance, that should speed up slimming the BOD down! Although would he still be there on those terms? Probably not given his lack of share purchasing.
these big buys you keep referring to always follow the same pattern - 2 big trades same size , same time at small spread - are probably wash/put through trades - that's why they have no effect on share register or share price...lse assigns buy to both incorrectly...
Can we assume no news = a dud?
Meanwhile share price continues to go south.
anyone know when we can expect the oman evaluation?
Why the big sells anyone?
good buys all day and yet price down...how does that work?