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Existing Shareholders and Cancellation from AIM and Euronext Growth Markets
When the Court confirms the Proposals (with or without modification), the Scheme shall be binding on the shareholders and creditors of the Company.
Where the Court confirms the Proposals, the interest of the shareholders in the total issued share capital of the Company will be eliminated. The shareholders shall receive no distribution on account of their shares under the Scheme or under these Proposals. On the Effective Date, the existing shares and all and any rights attaching or relating thereto will be cancelled.
Any rights and / or entitlements of the shareholders as members of the Company pursuant to the articles of association of the Company or any other document, or otherwise, shall cease as of the Effective Date.
Upon cancellation of all the existing issued share capital the Company will immediately seek cancellation of its listings on AIM and Euronext Growth.
The Proposals provide that the Investor will allocate to the other shareholders (as at 21st July), other than Vevan Unlimited Company, 5% of any after-tax net profits realised by the Company from the Barryroe field, either through its sale or operation at any time in the 10 year period after the Effective Date. Those other shareholders shall not be required to commit additional funds to participate. Documentation giving effect to this element of the Proposals will be prepared and distributed by the Investor to those other shareholders within 30 working days of the Effective Date.
Nice article in the Phoenix magazine. Shares potentially could hit £1.00 if drill outcome is good and gas prices stay steady or continue to rise. Let's hope they are right :)
Could be GWMO? I guess we will have to wait until they update us . . . . . . . come on BOD get the finger out!
Friday 1st April RNS hopefully . . . . but probably not given their record to date, let's hope.
Eh no . . . 30p would value the company @ £1 Billion. Would be very nice though ;)
Was hoping for news / update by the end of Q1 (only 2 days to go), announcement/plan is badly needed to get this share moving again!
Does anyone know whether the price/currency paid from the domestic sales are in Rubles or $? Let's hope it's USD!
Dang it Putin . . . ! Wonder what the impact of forethcoming sanctions will have. Probably have to shelve these for the long term.
Hard to know . . . should be an RNS sometime soon hopefully by the end of Q1 with what the plan is going to be. An RTO (mentioned previously) is certainly on the cards but it all depends now really on what Tom Anderson's plan is. Cash more or less equates to the current market cap, assets on the books valued at 2m potential for sale (but hard to know if will be realised plus have tax losses etc. also which may provide further value. Cash burn should be very low with Directors taking shares /options rather than wages now. Tme will tell hopefully some value to be there for long suffering shareholders.
I think Dunraven is on the way. Think TA owns 90% plus of it and RTO into Ormonde looks likely. Probably increasing his holding to make sure the vote goes thru when it happens ... but can't see him losing either way kinda like last time around. We only can hope that small investors don't get burned !!!
But why would you sell below the market price (that's why the order hasn't triggered). Raise your sell order price to 2.55p and it should go!
Is it a stop loss order? The share price is higher so your sell order will only trigger if the share price drops to that price and a buyer is found (as far as I know)!
The RNS 19th Nov.
WTF . . . not even a mention of reserve update???
They must have the update complete, my feeling is that it is not as good as they had hoped hence the delay in disclosing it. I hope that I am wrong but it is well overdue at this stage!
OHH why have LSE changed the way discussion boards are presented, this is almost like what iii did a few years ago ( tho not as bad) .... you don't fix something that is not broken!
OHH why have LSE changed the way discussion boards are presented, this is almost like what iii did a few years ago ( tho not as bad) .... you don't fix something that is not broken!
OHH why have LSE changed the way discussion boards are presented, this is almost like what iii did a few years ago ( tho not as bad) .... you don't fix something that is not broken!
OHH why have LSE changed the way discussion boards are presented, this is almost like what iii did a few years ago ( tho not as bad) .... you don't fix something that is not broken!
Unknown I guess, if it was a sale you would have expected an RNS, but none was issued so probably transferred to some other vehicle controlled by them I'd imagine.