Member Info for JPP8788

bou come on, backwards

The below extract is taken from an update RNS from Spinnaker Opps (cash shell currently suspended pending RTO completion) :

"... two potential target businesses in the oil and gas sector were high graded for more detailed due diligence. Although they were both in OECD jurisdictions and benefitted at the time from an increasing oil commodity price environment, they did not in the end meet our due diligence criteria and had to be dropped. In the opinion of the Directors, the fundable work programme in the first opportunity presented too binary a risk profile, and in the second opportunity the expected licence extension required for the project did not materialise. Added to the two target businesses high graded for due diligence in 2017, a total of four businesses have now been discarded during due diligence. Against this back-drop, it has been pleasing to note the support from new investors attracted by the Company's approach"

The proposed RTO then came on a RNS nearly 5 months later, just after 9am on a Wednesday morning.

Three things I have established - firstly, due diligence is in place to look after the BoD and shareholders alike... Secondly, said DD takes a LOT of time and resource, and weeding (!) through the rubbish probably takes longer than any of us realise.. And thirdly, an RNS can drop at any time.. And will probably catch us all off guard!

Over 30 Mil of buys to open the day.

Always nice to see, even though you know sellers will be tempted into submission shortly.

Hold

Can anyone answer me this....

Is there ANY benefit to the BoD announcing a proposed RTO now (for example) rather than the day before/on suspension?

Wow, so many sheep.

On Friday this share is the most fantastic success story in the world, and now over the past 24 hours it's all doom and gloom and the risk suddenly seems to have increased ten fold.

NOTHING has changed. As others have said - the daily SP volatility (or otherwise) doesn't really have an impact whatsoever.. If you're here for the 10%'s then fair enough, but please leave your pumping and dumping at the front door - it's just boring!

Friday the 13th!

The date many people pencilled in as being highly relevant in terms of news.

I don't think for a second we'll get a bean today.. I think this is going right to the wire.

Great little news article that - "gamble without losing".. particularly apt here.

I remember back to an RNS (which now seems like years ago!) which said the progress of an RTO would be done with "prudent haste".. At the time, I took this at face value and presumed that the RTO was imminent and straight forward.. I now look back and have realised:-

"PRUDENT - acting with or showing care and thought for the future."

The choice of wording there is certainly not by chance - maybe the BoD knew that the process was going to be lengthy.. Or that they were absolutely not going to be rushed into a RTO just for convenience sake - looking after shareholders and themselves with a high value RTO was clearly always going to be the goal. I refer back to this whenever I start to doubt myself.. And in 4 weeks time or so, all will be clear.

Either the BoD have messed things up (which I find unlikely given the levels of expertise), been disingenuous, or have a rather large rabbit they're about to pull out of their hat.

RTO news this week would be fantastic.

Was just about to post the same.. More buys than sells and the price has shortened (with a massive spread). I genuinely think 0.20 is saturation point - anyone selling below this level must be bonkers.

Speaking of "catch 22".. I wonder how many limit sells are currently set for investors with their brokers right now... I bet a good few would take 0.022 as it stands!

Be careful - if you have a limit sell set with your broker and news drops.. You're likely to have a huge disappointmebt when news lands.

Is the reason that the company has not yet announced the results of the AGM due to the 30 day RNS restriction? That would make sense?

"when a new director is appointed that an RNS that may be price sensitive is forbidden upto 30days?"

If that IS true - it's likely to be extremely significant.. can anyone confirm?

Time is more valuable than money - billionaire he may well be - but you cannot stop the clock ticking, and given his age and his apparent wealth - why would you bother with the hassle and effort if significant gains were not soon yo become apparent?! You simply wouldn't.

Have to agree MadChatter - it's getting to a point of head vs. heart. Being a LTH myself, I simply cannot forget or discount what has previously happened here - too much water under the bridge for me to believe that anything OTHER than an RTO announcement is absolutely imminent.. But the devil over my shoulder is starting to apply to pressure - particularly when you see other bottom-feeding stocks do 100-400% every other day.

At THIS stage, I refuse to either top slice and reduce my risk, and outright refuse to sell up and move on - my utmost faith is with BOU and I'm yet to see or read anything to challenge that.

This share is likely to become more volatile as the days wear on, and the risk/reward metrics become ever heightened - some will bail, and some will see the opportunity at what is currently (IMHO) and absolute no brainer. If I wasn't already very heavily invested, I would top up without question.

Nothing will please me more than the sense of joy when the "I told you so" moment actually comes.. But if that moment isn't fairly soon - then the battle with my head and heart will become ever more difficult.

Good luck all.

Does anyone know the latest date an RTO can be announced to allow enough time for shareholder approval at an EGM?

If any RTO is announced and then subsequently gets approval.. Does this then stop the company being placed into suspension? Or does the RTO have to complete?

Just been browsing other shares/RTOs.. I notice that a lot of other listings seem to release a "proposed acquisition" RNS whereby the target is named, share is suspended immediately, and then the goal is to complete due diligence going forward with a view to a massive rerate on completion.. How is BOU different here? Why has the board not done the same sort of thing? Or is that likely to be our next step? A lot of posters on this BB say that the due diligence is likely to be being done now, so are we likely to have an RNS along the lines of a takeover proposal subject to shareholder approval? With all the legwork done?

All,

I've tried catching up on the posts over the last few days to see exactly what's happened here.. Sorry for the lack of common sense.. But I came here looking at this share as a daily riser.. And now everyone's saying the end is nigh and PIs are shafted? What's the basic storyline here?

Feeling a little more frustrated than usual - my initial thoughts were that the RTO (or even any news..) would have come within the last fortnight since the AGM. The clock is ticking and the number of trading days before the 6 month cut off is looming ever nearer.

That said, however... I'm still holding as firmly as ever. The day traders are wasting their time trying to buy and sell over the course of hours/days. The spread is wide enough to put off most short term investors, probably purposely so to keep the share price consistent. Any large sells are mopped up later in the day, and we are now seeing the same patterns - this share is rock solid at 0.025.

We're now 4/5ths into the roller-coaster - you've got this far.. Why end it now? You're about to miss the best part! If NOTHING else, it's bound to be interesting - I've wobbled a little over the last few weeks, but regularly come back to this board for confirmation of what I already know - the overwhelming likelihood of an RTO is upon us.. Why would I sell out now (at a small loss) rather than risk holding for large gains? If I was to sell, and the day after an RTO was announced... After having held for nearly 5 months.. Well - that would be a bitter pill to swallow.

I have no idea how long the legal/compliance side of things take, but clearly I was a little hasty with my expectations - as I think were others. The lack of share price volatility can only be a good thing this late on.. And we know the board are masters of this kind of transaction. DYOR - but above all, have faith.

So someone buys just over 3.1 million before close yesterday, only to sell at open for a £70 loss... I have no words.

Lampshire appointed - he of PH/BOU fame.. Looks like another cash shell listing, pending RTO. Given the wording of that RNS, I'm surprised to see the spike - I wouldn't be chasing the rainbow here personally..