Member Info for Hamz74

Https://www.africaintelligence.com/north-africa/2024/07/03/britain-s-chariot-group-ready-to-start-exploring-again-with-new-well,110253979-art

the rest is behind the paywall

Simon Thompson IC article suggests that funding for the transitional power business could be a source of cash...what probability do you ascribe to that?

https://www.investorschronicle.co.uk/ideas/2024/06/18/a-potential-catalyst-for-chariot-s-shares/

So you think today is the Big Day with the New York council hearing?

I might make it, I am in London anyway.

The Annual General Meeting ("AGM") will be held at The Mayfair Hotel, Stratton Street, London, W1J 8LT on 10 September 2024 at 10.00am.

And you are sure that is the rig that will be used for Anchois? I often holiday in Las Palmas over Xmas.

Do you think Crown Ocean will take it private?

Where did you see that appeals take up to 90 days?

And was that comment on the mine in the Africa Intelligence article, or another one?

The Special resolution 6 already passed by 95.8% https://www.investegate.co.uk/announcement/rns/deltic-energy--delt/result-of-agm/8241929

The extra few grace days until June 12 is more about Shell giving Deltic time to find a buyer or partner for Pensacola?

Just pasting the Special Resolution 6 below. The legal language is not so easy to understand. Is it basically disapplying preemption rights so they can do a quick raise? If so that is not so unusual?

Special resolution:

6.

That, conditional on the passing of Resolution 5, the Directors be and are hereby empowered pursuant to section 570

of the Companies Act 2006 to allot equity securities (within the meaning of section 560 of the Companies Act 2006)

for cash pursuant to the authority conferred by Resolution 5 as if section 561(1) of the Companies Act 2006 did not

apply to such allotment provided that this power shall be limited to:

(a) the allotment of equity securities in connection with an issue or offer of securities (but, in the case of the authority

granted under paragraph (b) of Resolution 5, by way of a rights issue only) in favour of holders of ordinary shares

on the register of members at such record date as the Directors may determine where the equity securities

respectively attributable to the interests of such holders are proportionate (as nearly as may be practicable) to

the respective numbers of ordinary shares held by them on any such record date but subject to such exclusions

or other arrangements as the Directors may deem necessary or expedient to deal with treasury shares, fractional

entitlements, record dates, or legal or practical problems under the laws of, or the requirements of any regulatory

authority or stock exchange in, any territory or any other matter; and

(b) the allotment otherwise than pursuant to 6(a) above, to any person or persons of equity securities up to an

aggregate nominal amount of £1,757,456; and shall expire upon the expiry of the general authority conferred by Resolution 5 above, save that the Company may before such expiry make any offer or agreement which would or might require equity securities to be allotted after such expiry and the Directors may allot equity securities in pursuance of such offer or agreement as if this power had not expired.

Where was this article please - can you post a link?

6 million shares traded already this morning, in clips of 1 and 2 million. Wonder who is buying and selling?

I get that, but even so, shares with big spreads can go up lots

Why would a wide spread stop it from going up lots? Whats the connection there?

I wonder who's behind the volumes today?

Quite a bit less than the maximum 89% if nobody else had taken up the offer. Lets watch out for RNS TRS to see updated holdings from HSBC/Sand Grove, the Dutch group OMGK, and the Indian guy in Northwood!

Did anyone make the AGM? I missed it this time.

Resolutions passed at AGM: https://www.londonstockexchange.com/news-article/BLVN/result-of-general-meeting/16403783

Interestingly, about 19 million votes were made against all resolutions. That is about 6% of the shares. I wonder who that might have been? It looks close to the percentage held by Sand Grove before they started selling, which may be relevant for the March 12 cut off date determining voting rights.

Are you voting anyway, just to increase the chances of them being able to do the open offer and raise from other investors?

Seems almost unbelievable in this day and age that a phone call would be needed for a corporate action. You should certainly complain!

Jed, if they cannot raise any money, then there is a 100% chance of losing what little is left. If they can do the open offer, there is some remote prospect of salvaging some value, from several scenarios. New Age may bring it to FID. New Age may find another buyer for its stake and maybe BowLeven's stake too, and that process could be faster now they have gone through a lot of bureaucracy with SNH. Or Lukoil might take it out, which might be more likely if the Russia/Ukraine war comes to an end, and sanctions are reduced or lifted.

Which broker has no facility for voting? I never heard that before.