Member Info for getafgrip

Dead right - I literally glanced through them & nothing whatsoever shouted at me. The reality is they only become important in any way when an event manifests itself that might breach them. Even a company secretary will only carry the most important exerts or statutory regulations in their head. The rest is generally padded verbiage that is readily available.

Deltic has just copied out what Algy Clough's had stated as Articles of Association, but it is really remiss not to change every reference to "Deltic" only. As I said it is sheer idleness on the part of Deltic. But, they are an oil exploration and exploitation vehicle, in fairness brownie points for excellence and accuracy of Articles of association will not find and exploit oil reserves in the North Sea.

Templates of Articles of Association are so easy to access as well:

Model articles for private companies limited by shares

If you buy a limited company name through say Company formations on the Internet, they include pro forma Articles of association & if memory serves me rightly from me last using their service it cost £9.99p.

ADG67 - It is absolutely fundamental to understanding the current share price relatively to previous years, particularly when the number of shares in issue has changed so radically over recent years. You should post more often - don't keep it to yourself!

It is not continuity at all merely laziness on behalf of the Company Secretary. Generally Articles Of Association follow legal & regulatory norms & in terms of substance and scope there is little difference between many of them. Look through them and tell me where they are different from the norm!

FD - I only really skimmed over them, certainly no %s' leapt out at me. Articles of Association are a great read if you are having trouble sleeping- believe me I have almost slept through a number of Law of Meetings lectures in the past.

If something comes up that is relevant, they will be analysed to death & then we will be presented with the relevant bones that we actually need to know. The agreement with Shell over Pensacola is likely to be completely watertight - Shell has a significant in-house legal team. Shell will not be considering that Deltic will suddenly decide to risk everything of its 30% holding on a flight of fancy. Why risk what is currently its only copper-bottomed revenue earner, by suddenly going private at a rock-bottom price - if shell is concerned and wanted Pensacola to itself Deltic is literally small change. But, why change a winning team!

Yes cheers Larry & all the other hard-core investors! What a day!

Moniman - I can fully understand and sympathise with your view. This evening when I crack open an expensive bottle or two of champagne, my thoughts will be of the illiterate, exploited, peasants tending the fields and the pre-pubescent girls trafficked from the Third World to tread the grapes barefoot for my gratification. But, I am an optimist, and I know that if I don't get some champagne down me they will not have a job at all! Cheers!

The Articles of Association were adopted by Deltic Energy in their entirety from CLUFF NATURAL RESOURCES PLC on the 19 April 2012. This is simply laziness in not being bothered to change a document title, but they may rectify this. Its something to bear in mind, but if Shell is not concerned, neither am I. Have a great weekend.

The company secretary should let you have a copy of the Articles of association. I think the jury will be out on whether there is a copy on the website, but there should be. If you end up checking with the company secretary a good question would be "are you asked for these very often," "are you going to put them on the website" if you catch them off guard you might get an interesting answer!

Sorry "on standard," should read "non-standard."

DP - commercially exploitable proven oil reserves will reward the directors & shareholders alike. Deltic's new found riches will be tempting for a predator, but above anything it is a relationship that works for Shell, so why change it. Part of Shell's agreement to domicile in the UK was based on them agreeing to play their part in opening up North Sea exploration & production .

The relationship with Deltic is perfect for them. Shell is also currently scrutinising every aspect of its business to focus on oil and gas that will potentially return great ROI. If Deltic pass scrutiny it will be the green light that they see Deltic as providing significant returns.

Rather than taking what Darktrace say I.e. that customer numbers show a rise of 15 per cent year on year. Why not look at 126 as a percentage of the stated customer base of 9000! Do you feel that this is a number that also can't be bad, or do you think it is indicative of a very significant slow down in on-take of new customers. Why don't you compare the 126 to the previous 3-months increase!

If Darktrace employs two-thirds of its staff on marketing and sales, what do you think the cost of customer acquisition looks like - do you even feel it is relevant? How does this compare with Sentinelone, Palo Alto, Crowdcube etc. Those who do know the answers to such rudimentary analysis have tethered the share-price this low as it seems to some!

As I recall, I think you can also get the case where those wanting to take the company private secure over 50% of the voting shareholders, but cannot achieve 75% of the vote. So that in some cases more than half the voting shareholders have wanted to go private, and the company has then I believe agreed to reduce the 75% hurdle to break the impasse.

If the company wants to decide on whether it can delist & go private. The most likely scenario is that the Board call an Extraordinary General Meeting, which is out of Sync with the normal scheduling of the AGM. They will declare it as being in relation to voting on going private through a Special Resolution.

Going private might normally require a 75% majority vote, but this wholly depends on statements in the Articles of Association of the company. One of the residual legacies from Algy Clough might be " on-standard" Articles of Association.

Good to take a gain guys.

Personally I think there is more to play for with Shell certainly in the short-term. Oil will more likely spike to near its peak for now with the Israeli invasion of Gaza. The protracted process of "eradicating" Hamas is unlikely to lower tensions or the OP. The sledgehammer blow by the Israelis has already started with their air-force being sent in, then massed columns of tanks with infantry support, then very lengthy occupation to subdue Hamas!

The US is considering halting $6 billion that was heading to Iran:

https://oilprice.com/Energy/Crude-Oil/Shift-In-US-Policy-On-Iran-Oil-Could-Swing-Global-Markets.html

The OP will be influenced by the scope & severity of the Israeli invasion, which will be a massive provocation to Iran, so their reaction is also an important part of the equation.

You are all ignoring Shell's position - it is Shell that would decide on, or block, any attempt to go private.

C-o-o-o-c-koo - Once you get to the big school, a further attempt might be made to teach you an elementary level of reading ability. A rudimentary grip of analysis is another thing altogether, but one step at a time. Certainly Care in the Community is just not doing you any good at all, in fact it may be detrimental!

purdey - there are numerous examples of companies being taken private, dell, heinz alliance boots, burger king etc.

a prominent one was the virgin group, which having floated on the stock exchange, did not think it was sufficiently valued in the markets.they bought back all of the shares in issue at the exact price that the original share offer to the markets had been made. essentially nobody who bought in the original offering lost out - they got their money back, unless they had sold prior to going private. virgin then de-listed.

if an offer was made to take deltic private, it would need the backing of key shareholders, with combined shareholdings in excess of 50%, possibly backed by smaller shareholders, but still speaking for 50% plus of the issued voting shares. if say major shareholders voted in favour of going private, the remainder of shares will be mopped up by the company at the price agreed with the major shareholders. small shareholders being squeezed out do not generally receive the value that they see in their shares. but, look on the good side, it would get rid of ****ski and ****oo, if they are not the same individual anyway!

So, you are saying that "Heal" is the best thing out there, but Prevent can never work 100%. Do you have an expert opinion on this, or is it just your conjecture?

R - Spot on - one of the very old stockbroker adages was "every dog has its day!"

No, the key for the Israeli websites, and any other websites, having their websites bombarded with malicious traffic is to prevent this happening in the first place! Dealing with the infiltrating issues afterwards is a secondary consideration.

I have to admit that if I felt that there was any "continuity" whatsoever with Algy Clough's enterprises I would never have touched Deltic with a bargepole, even though I have seen more than my share of Penny Share Tips highlighting Cloughs latest Shenanigans in the past, I was never even remotely tempted to get involved. Until now I have however personally never mentioned continuity at any point.

FD20 - I can see your argument, but hope you are wrong. Deltic Energy may have the genes of Algy Clough, but the DNA of companies inevitably changes over the decades. I bought my Deltic energy shares on the 31st July with the view that it is a completely different company & my view has not changed - proven Pensacola resources had suddenly doubled, conservatively worth a $1 billion to Deltic the alliance with the mighty shell, the possibility of Selene turning up trumps, a capitalisation of only £25-30 million etc. Clough Resources was never in this enviable position.

The slightest hint that there is actually any residual "continuity" with the original company and the debacles of the past, rather than learning from past mistakes & chicanery & I am out of it immediately!