Member Info for Intoodeep

Mr Bonds comments about the Psychology of selling are so true. If you can bring yourself to unload at a loss, as long as that loss is within a predetermined threshold. Then most investors that follow this discipline will do ok in the end. As long as you pick a few winners....where did this strategy go when it comes to Borders and Southern... .. .? Borders is almost like a religion or an unfaithful wife that you're truly devoted to, and continually forgive for all their misdemeanors..

Are people able to trade their Open offer shares yet?

*threw*
A week later there wouldn't of been any hassle as it would of fallen into the new tax year...

Well I got my shares in the end but after all the calls, emails I still got a message that my rights had been lapsed due to insufficient funds in my ISA account..if it wasn't for the fact I throw my toys out the pram and pointed out all the past conversations, I think I would of missed out. How many others held all their shares in ISA accounts and were unable to deposit further funds coz they were fully subscribed to the 21-22 ISA Allowance..Bad planning of the open offer not to take that into account..!

Thanks for the confirmation Phil. Its nice that they have acknowledged your request, that's much better than IG, that don't acknowledge anything and leave you guessing!

I think that's the case 007, I guess its just the way Barclays accounts are being presented, the share's are probably placed to indicate the virtual subscription but not actually allocated until after the 30th. Only Phil and other Barclays customers can confirm this however.
Good evening by the way Mr. Bond, your Input is always highly welcomed.

Hi Phil are you saying that your account is already showing the excess shares that you've oversubscribed for? Is this a recent development or were they placed in the account as soon as requested.. I've sent 2 emails to IG stipulating exactly the oversubscription I would like and placed the appropriate funds in the account to cover the transaction but yet my account only shows the basic entitlement and no excess...others are saying that the excess won't be offered until the take-up has been assessed. Are the shares placed in your account provisional, subject to take-up or have they been fully offered? would appreciate the feedback, don't want to bang the drum if IG are following due process.

Excess Entitlement
"Qualifying Shareholders are also invited to apply for additional Open Offer Shares (up to the total number of Open Offer Shares available to Qualifying Shareholders under the Open Offer) as an Excess Entitlement."
So my understanding is if your basic entitlement is say 500,000 shares, you can apply for up to an additional 500,000 excess shares. So long as there are any additional shares available and other Qualifying shareholders have not taken their basic entitlement. Thanks POC for your input it was your comments of excess shares that prompted me to post in the firs place. I can see know the full situation. basically we wait and see what the uptake is, thanks to everybody that participated in this string.

Has anybody that has oversubscribed actually been awarded any additional shares? IG have given me my full rights but no additional shares have been issued, is this the case with other companies? Got to say not very impressed with the corporate actions department at IG or the company as a whole.

For years my pint glass was always half full, I must admit though, during last year that pint glass of the golden stuff slipped to half empty...But now after reading the small print and between the lines, its been topped back up to Half full again!..Mr Bond, Miss Moneypenny needs you to investigate, solve this mystery....shsss, there's a Walther PPK in the shoe under the bed....

40thStreetBlack wrote: "Given that the General Meeting is on 6 April and Ordinary Shares credited on 7 April, if purchased in an ISA would they then therefore be part of next tax year's ISA allowance? I ask as my ISA allowance for this tax year is fully subscribed. If anyone knows anything about this, much appreciated." I use I.G. also, just had the same conversation with an agent.. the answer is, if this years subscription is used up in your stocks and shares ISA. deposit funds in your standard share dealing account. In your response to the open offer e-mail that was sent, the reply must stipulate where the funds are to be taken from and what account you wish the extra shares to be deposited in. The corporate actions department will happily deposit the shares into your ISA account as long as you stipulate so...This is only for IG though, other companies are probably so much easier to use...

I think it would quite unethical to seeks further funds if they could not demonstrate some future plan. The fact that the Open Offer is not Under written tells us all we need to know...Or its quite a bold and reckless decision by the company....

Is the 12 year wait finally over?......is this it?..........I always thought it would go down to the wire and 2022 would be the year something happened... But who could have envisaged this! How is the world going to fill the gap in supply? This is the perfect storm for Borders and Southern.. I was sure the BOD had a plan up their sleeve anyway but with the current affairs as they are, what ever that plan was it's probably just about to get ripped up.....I hope that door to the negotiating room is tough we wouldn't want it to get torn off it's hinges!!! . . . .ok . . . I need to apologise to 007 I think my previous comments could have clouded his judgement.... In hindsight I was analysing the angles just a little too much...!
Anyway I was here on the 20th April 2012 when the share price hit £1.30 I remember the excitement I felt when my 2500 shares reached that giddy high.... then came the Stebbing result! Ouch.....never really understood why such a dramatic fall...That's why today I'm still here and have a slightly larger holding...... ; -)
Did somebody mention 20p that's not even close...

PageofCups the chairman is part of the non-executive directors its all standard corporate governance stuff that is required under rule 26 of AIM
The others haven't bought in as they are executive directors and on the payroll of the company ... it would be deemed as insider trading and illegal.....What planet are you from?
I'm trying to work out your angle are you working for the brokers? have they got a shortage of shares?

The fact that the initial funding amount is only 450K and the chairman is taking it all, suggests quite alot....If ever there was a public endorsement to the future then the chairman taking this slice of the cake tells us that the cake is indeed tasty, for they could of raised this initial level of funds by any number of means.....It also tells us by the time the public offering commences the price will be expected to be somewhere north of 1.3p for the offering to be successful underpinning 1.3 as the new floor level... Its all Good!

I suppose the question that arises, is how au fait are the BOR management with the FIG officials that issue the licenses. If the licenses are issued as a matter course without precautions then todays RNS is inconsequential. However if the license renewals have been issued in accordance to strict stipulated requirements for the company to prove that it is compliant, then todays RNS is very meaningful. The requirement was for the company to be able to demonstrate that it has the ability to raise funds to meet the obligation of the costs for one drill (circa 100 million+). Today the licenses were re-issued so the FIG believes they have a credible plan which will occur within the time frame of 11 months. And as Geo has stated the issuing of further shares at this level will get no where near to the millions they need.. So something else will have to unfold.. I may be coming around...maybe there is just a glimmer of hope. (still don't like that suspect holdings announcement a week ago though, just big enough above the threshold to go public..)

Thanks for your thoughtful conjecture Geo.. You've referred to the institutional investors not accepting a lower offer than their buy-ins however looking at the current list of large holders most are nominee account providers and as you rightly pointed out, Damille (who currently head the list) bought in at 0.1 so even at todays price if they sell proposes a 10 fold increase... can't quite see your point even if the remaining institutional holders objected they don't hold big enough percentages to give weight... where is the 30% unaccounted shares? is this all float..

Hello Mr Bond hope you are well and life is treating you fairly. That is all I have to say on the subject of buying.

I hope you don't get stung Gus, I put many K into this back in the day... but that money is now just a distant memory which I regard as stock market tuition fees..

Why declare though? why so public? why not 14999999 keep in the shadows..I am correct that 3% is the minimum that requires public declaration...why go for just the necessary to make it public? I would of been more convinced if the number was somehow more random....