Member Info for hereandnow

What concerns led the FCA to take action on this firm?

Acting on intelligence received about the assets in which SVS invested its clients’ money, we conducted urgent supervisory work and identified serious concerns about the way in which the business was operating.

The FCA has opened an investigation into this matter.

This looks like a bit of a can of worms, what have they been up to? Forward selling the client's stock whist offering them money at the same time? Who knows? I don't but hopefully this investigation will be clear and transparent.

Those warrants belonged to Beaufort

Warrants

The Company has also issued 1 warrant for every Placing Share, valid for 2 years from the date of issue, exercisable at 12.5p per Ordinary Share.

It really is that simple. The placees, clients of SVS, hold the warrants.

A deal was made, signed and sealed between WSG and the SVS clients who were offering the money. Part of the deal were the warrants. The middle man has gone out of business it seems. The deal hasn't changed. SVS account holders will not be able to deal their shares until they are freed up during the administration process.. The warrants were part of the deal between Wsg and the placees, the deal remains.

The warrants were issued to the placees, SVS clients.

The money is in the bank, I'm sure, the shares went live on the 1st. The warrants remain. Beaufort clients couldn't retrieve their stocks for 18 months. I don't believe it will be like that again , perhaps 6 months?? they can't be that inefficient again over the same issue. Still, that is all the share holders with SVS accounts stuck for some time. How many placements have they done? They must have over 20 million shares in their accounts..

Check out the accounts in 2010 Mike....large debt right off. 2 + 2 probably making 5 but I reckon there is a good chance this is all linked

There could be a bit of a bonus for SP action . (Apologies to Ian B). Those 10 million shares from the placing, the ones that haven't been forward sold or just plain sold, will now be stuck in those SVS accounts. Overhang, end of....bring on the news please

yes, loads of times. I have seen lots of dreadful price action in either direction prior to drill results. Ignore the chatter , wait for the TD RNS. If it's hydrocarbons, yeah! If not, wait for the next drill. I am confident there are plenty od hydrocarbons in our block. When they will find them, I have no idea.

Did anyone get the q&a from Donald legit....I've got no signal where I am and got buffered out. he was asking about hammerhead?

I didn't use them, just followed what happened to them. Nearly became a client ...very glad I didn't

They get stuck aka Beaufort a year or two ago, eventually people got them back

CC had warrants for years at 12.5p that they never cashed in. They died at the end of June

I think I find investingvalue as irritating as foxy but in some polar opposite sort of way

Good to see volumes still decent as the placing gets absorbed by the market bit by bit. Great shame the one II sold down here. It certainly has knocked the SP and sentiment.

We just await the finalising of the Ghana Tema Port contract . I hope we will see some details but suspect detail will be short for commercial reasons.

Judging by all the other tech contracts and company missives we should expect at least one more MSP to land in the next few months. Then we will have three, an airport, a port and a n other.

The latest raising, about £800k devoted to kick start the Asian tech contract. A huge dilution for all of us when considering the profit margin on the project is probably in the region of $500k to $1million. There must be some logic for this i.e. keeping the client happy and trying to win a lot more business from them. That can be the only logic.

In the mean time sentiment is pretty flat here. As we have seen, that can change pretty quickly

Keep it coming Phoebus et all. Can't tune in. Some timings on Hammerhead related comment and Q&A would be helpful

Fantastic news re Hammerhead 2 and 3. 3 is right in our border, we own part of Hammerhead, at least 500 million recoverable boe. More details to follow

Today's money raising is very disappointing in terms of the price and those awful warrants.

Clearly the company gambled that the Ghana contract would land . It didn't so the SP has drifted. CC selling down and its concomitant affect on retail sentiment aided that drift.

The warrants really are awful, gives the places a free ride.

I guess the company just had to take the money and run before the SP drifted below nominal. The placing is an SP hand brake.

If they sign a contract or two, it will soon be forgotten

Wonder if we will get a late reported sell from tis morning. All been chewed up by the looks of things

I think that is what is called a confession.