Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Chesh tell me something do you know the difference between a stock's nominal and market value.? The nominal value has NO impact on the SP whatsoever. It is the number of shares being proposed (400 million) and exactly what they are being used for that are the issue. Why would the nominal value of a block energy share being o.25 of a penny be of any relevance.? Unless you think this is where the SP (real value) is heading.?
Hi Rocklawn - Chesh and others who are replying on this thread. From what I can see the only reason for issuing shares in very large numbers is to raise funds for capital expenditure and in ding so diluting the shares already at issue. If the BOD passes the resolutions 4, 5 and 6 they would have the right to increase the number of shares issued by UP TO 400 million within one year.................... to be done where, when, and how the BOD alone sees fit. That is an extra 50% plus shares floating about but at what cost to the SP.? It can not be seen as in any way a positive thing no matter how you try to spin it. If the company was raking in money hand over fist then they might issue shares as a dividend to existing shareholders - however they are not in that position. Really they need to start communicating with shareholders and stop running the company like some sort of personal milch cow. Okay rant over.
Chesh - No problems - IPO for Block was in June 2018 - I started investing in December of 2018 - so come December of this year I will have been here for 5 years...............long enough to see all of the twists and turns of the company's fortunes.
Q - When did I write of my investment here ?
A - In around April 2020 when the BOD came up with the Shares for salary sacrifice scheme.
Why was I not a fan - well the scheme ran on for far too long - three years - it gave the impression that the BOD were greedy - if you sacrifice something you give it up. Also on the first notification I noted that the amount payable was calculated to 4 decimal places - that just smacks of greed. If the BOD are not "producing the goods" they should do the decent thing and take a pay cut not spend all their time dreaming up ways of lining their own pockets at the expense of the SP and private investors.
Hi Chesh - well all I can say is that I wrote of my investment in here many months ago. Any money I can claw back from my shares will be something and you know what they say "It's better than nothing. GLA
Chesh/Hepseal - I am looking at the number of shares at issue and t he SP.
At IPO way-y-y-y back when the (I believe) the initial offering was 200 M shares at 3p each. As of today we have over 660 M shares at issue and the SP is around 1.0p. If they add another 400 M shares to the pot what is that going to do to the SP.? That is not to add in all of the cheap share options floating about the place - currently warrants and options total nearly 200 million shares.
Hi Hepseal - I read the notes to the resolutions - section 5 and 6 read as follows:
Resolution 5 – As required by the Act, this resolution, to be proposed as an Ordinary Resolution, relates to the
grant to the Directors of authority to allot unissued Ordinary Shares until the conclusion of the Annual General
Meeting to be held in 2024, unless the authority is renewed or revoked prior to such time. If approved, this
authority is limited to a maximum of 227,551,864 Ordinary Shares being one third of the issued share capital of
the Company.
6. Resolution 6 – The Act requires that if the Directors decide to allot unissued Ordinary Shares in the Company the
shares proposed to be issued be first offered to existing shareholders in proportion to their existing holdings.
This is known as shareholders’ pre-emption rights. However, to act in the best interests of the Company the
Directors may require flexibility to allot shares for cash without regard to the provisions of Section 561(1) of the
Act. Therefore, this resolution, to be proposed as a Special Resolution, seeks authority to enable the Directors to
allot equity securities up to a maximum of 172,387,776 Ordinary Shares being twenty five percent of the issued
share capital of the Company. This authority expires at the conclusion of the Annual General Meeting to be held
in 2024.
Last time I checked 227 million plus 172 million plus a few added up to 400 million..........unless you know different.
I find this and the general greed of the BOD very worrying - it needs to kept in check pronto.
Deez - I am seriously confused here - are resolutions 5 and 6 acting "in tandem" ie: are these two resolutions to be read as being in relation to each other or are they totally separate issues.? if they are being raised as totally separate issues then the BOD are looking at giving themselves the right to issue nearly 400 million shares ? is that correct ? - if it is I will have a serious issue with the BOD diluting the shares this hard yet again..............
Hello Rocklawn - BEY - yes they have a higher mcap than here but they also have nearly double the shares in issue so they are not actually worth a great deal more per share. The SP on AIM is often driven by expectation - as you say there are O&G companies on here that have never seen a single barrel of oil out of the ground but they are traded at a much higher levels than Bloe. Unfortunately, we have had several false starts, missed deadlines, Covid-19, de-rampers galore, world oil price slump and the Scottish bullies to deal with. Sadly this history has all acted like an anchor and it is holding the SP back within a narrow range. One thumping good result with the drill could reverse all of that in a very short period of time.
no end to the greed displayed by ph and his fellow bod's in fact the greed is only surpassed by the ****ty way in which they have treated pi's over the past few years. it seems to me that the tale of block energy thus far has seen every trick being pulled that you could ever think of and then some. looking on from the sidelines why on earth would new investors want to place money in here.? if the share price does improve in the next few months and hits 2.0p it seems that it will be the signal for warrant holders to potentially sell up to make a few quid and knock back the sp.........................great.
I agree Shedulike - there was a long drawn out period of radio silence then a great deal of RNS's and "News" being released and now it seems like the SP is sliding back further than can be justified given revenue figures and financial control. We need some meat on the bone - AIM is the place where a fresh supply of news is important and where some people have the concentration span of a gnat.
Shedulike - The movement in the SP over there seems to be solely down to "expectation" of something actually happening rather than performance or production levels. I wouldn't get too hung up on the fact that MATD have over 300 posts on their BB - it is a notorious venue for verbal fisticuffs and extended feuds between rival factions. Someone once said to me "you know if you throw a bunch of snakes into a sack they will end up biting each other just for something to do."...................with Bloe - I am happy to wait it out.
money being invested here is exactly what we need. However, in the absence of any substantial and sustained results to drive the SP up to a new baseline (3.5-4.0p)we will be seen by many as a "Have a punt" share where people jump in and out with a slim profit. The sort of people who do that are not interested in the "long term" growth. As I have said before we need new investors to start buying in and spreading the word. The lit match may well be approaching the blue touch paper but it is yet to make contact.