Member Info for JAS78

Am I right in thinking if this voted down SQZ can walk away with no costs to pay, it’s only if the BoD recommend (publicly at least) a no vote a £7M break clause comes in to play

I guess what I hope is these deals are already in the pipeline and will fall into place once this is signed off. Hence the speed of this deal

I feel miserable but let’s look for some positives

- David Latin non exec was happy to purchase £40k worth at £2.70 two weeks back, yes not a huge fortune compared to some but he clearly sees value from there
- Flegg and Craven Walker both see the enlarged group headed by Mercuria in a very strong position to ‘take advantage’ of transactions they ‘expect’ to arise in both North Sea and abroad
-Mercuria will be handed shares to give them overall control, however does that make the group more mobile when negotiating these deals, they can move a lot faster
-Robert Lawson BPs long-standing head ‘deal maker’ (30 odd years) just quit and joined Mercuria, assume this is part of the big plan, will he be able to assist with deals for some low hanging fruit

Great to listen to a knowledgeable voice but actually switched the video off before halfway, found it far too depressing.

General points that should be answered

Why has this deal not been fully explained
Why is it being rushed through
Why are BoD not allowing time for a full and fair analysis
Why were shareholders not allowed to vote on previous £4.25 offer
Why are market regulations so slack for an exchange operating in London
Why would any shareholder vote Yes without the above information
Why does this whole saga stink the place out

There was no official corporate action listed with Halifax either, looks like you have to initiate the contact yourself online chat or phone and inform them of your vote. Then hope they forward on that vote, no idea how you can check the latter.

Showing SP jump to £7.25, had me going for a minute

I’ve cast my No vote. The worry is all the smaller fry holders like myself may not bother, but it could make the difference

Told to reject offer at £4.25, advised to accept £2.78 dilution. Thanks BoD but no thanks

RaggsP so I have to contact them so I can ‘activate’ my opportunity to vote? Sounds a bit round the houses. When is the cut off date to cast the vote?

Sorry haven’t had time to read through everything this week.

OK thanks for the info hopefully we can vote soon

Does anyone know how to vote with Halifax ? I’ve seen no communication

Please give us some positive facts and figures, any pleasant SP predictions for H2 2023? i could do with a pick me up

Shakeypremis I assume any BoD dilution will be counteracted by bonuses and share awards further down the line? If this deal is stopped surely that makes their positions untenable so I expect it will go through, as surely they have their ducks already lined up.

I’m a little worried, as I have 20% of my portfolio in this with an average in £3s. I did not expect to be put in this position by the very people I hoped would look after my interests. Not sure where the SP goes from here. I’m holding strong for now as maybe we’ve all missed something in the deal that is very positive, hope more than expectation tbh.

He did copy and paste the Rns on the 20th, but nothing since

Very weird how he’s made absolutely no reference to a large deal announcement in the North Sea, this should be top of his discussion list from the past week. Even if he didn’t want to be negative nothing wrong with at least a comment to it taking place.

My Kistos investment has disappeared from my Halifax account, gulp

We didn’t need this over complicated deal, they could have announced a very simple £100M share buyback scheme and a 10% divi rise, you know be responsible and look after your shareholders when the SP was in decline.

As I said, no skin in the game, no interest in any of that.

Unfortunately it’s all pointing in one direction who this deal is benefiting, certainly not shareholders in the short term

I’m holding significant kist and sqz as I thought I couldn’t really lose over this winter period, I called it all wrong. This BoD have no skin in the game which is always a red flag, but I did not foresee them issuing mass dilution meaning I now have to contemplate taking a significant loss to protect what I have left. Sqz were in such a powerful position, I can accept losses but this seems unnecessary, ****ed off

AA has his faults but his outlook is predominately for the benefit of shareholders, never a deal he would have signed off on.

The behaviour and actions of these 3 people (we know who they are) who were recently handed huge positions of financial power are making me wonder if some ‘dark forces’ are at work.

Scandalous disregard to financial responsibility

I’ve bought some more and now own far too many Lloyds shares, more than I ever planned. Happy to hold for the medium term

Kamikaze and Clueless have been appalling for the UK financial outlook but I’m confident they will be overruled before the patients take over the asylum.

Andrew Austin will come riding over the hill before that occurs