Member Info for gordon1237

Now a 96% reduction in sp during Roland's tenure.

Surely there's a chance that the cancellation resolution, requiring 75% won't pass ?

From 4th July rns. How utterly misleading was this.

" Following a detailed strategic review and given the persistent gap between our net asset value and market capitalisation, the Board has determined that divesting our remaining Cambay interest represents the most effective way to unlock value for shareholders."

Couldn't have done better if they'd set out to destroy value.

Never in my worst nightmare did I expect anything like this. Shareholders get nothing from the sale unless they stay in and become private holders. There's no knowing how much they will get and you may not be able to easily sell once it's a private holding.

FFS x 10000000.

F**king hell. Down 30 %. Now 0.012. This cant be happening. How can anybody in their right mind say this is in shareholders best interests ?

Total effing stitch up, conducted at breakneck speed. Five months to get this far and then a month to get out for who knows how little. Still nothing about how much will be returned.

Disgraceful.

Thinking about it a bit more. The Cambay asset belongs to us, the shareholders. So surely it wouldn't be legal for the company to go private and retain a substantial amount of the sale proceeds.

Now 0.0170 to buy. Another all time low. WTF.

The market obviously doesn't believe there will be anything substantial for shareholders.

Was planning today to ask Kievsky what he learnt at the AGM but guess it's irrelevant now.

Not necessarily Sprint. Don't think anyone knows

enough, but could they retain cash and go private?

Could email the company and ask but doubt they would answer.

Thought there would be more annoyance about an apparent 17% increase in the number of shares .

Everyone seems to be assuming that the company will br wound up and all the cash returned to shareholders. Hope so, but this is not what they indicated in the July 4th rns where they talked about a forward strategy.

Wakey. No need to apologise. The question is, why hasn't this increase been rns'd ?

Wakeu. There are now 18.24 billion shares. If you go on the website and go to Investors and then major shareholders this is the number that is given as on 30th September 2025 . It has been confirmed to me by the company that this number is correct for that date.

Sprint. Hope your right. Depends on what's in the signed agreement. Also, how certain is shareholder approval ?

Couldn't agree more Zag, especially with a return on Cambay apparently so close.

Sprint. The deal is signed so a massively successful drilling campaign would do nothing other than rub salt in our wounds.

Thanks makemoremoney for the explanation.

They actually state in the rns that they intend to delist from AIM. What they don't tell is how much they are giving to shareholders. Doubt it will be anywhere near 10 million but hope I am wrong .

BTW it seems the number of shares is now 18.24 billion.

The sale is going ahead. No rabbits out of the hat.

No explanation as to why now when a return on drilling seems imminent. Nothing about what will be returned to shareholders.

However.

" The transaction will result in a fundamental change of business in accordance with Rule 15 of the AIM Rules for Companies; the transaction is subject to shareholder approval. Notice of a General Meeting to approve the transaction is expected to be issued shortly and will include further details. The Notice of General Meeting will also include details of the Company's intention to seek the cancellation of trading in the Company's shares on AIM."

What does this mean ? Is the company being wound up? Going private ? What are shareholders getting ?

Kievsky was going.

Another drop. Now equal to the all time low.

Ominous.