focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
They have 15 wells producing. Target this year 60!! Each well will repay it's drilling costs in the first year. Oil & Gas.
What has been said here re the EGM is accurate. The $10m was mentioned and Matra are sitting on $20m including the recent payment. MB put forth his (&Tricon) reason for not agreeing to Rule 7 and they are of the opinion that Rule 7 should not be implemented as they already have a revenue stream. Even if Matra re listed they would have to de list again as they have sourced yet another acquisition target and being that its larger again than the current Company they would be required to suspend yet again pending a RTO to comply with AIM if it goes ahead. All in all by de listing it will allow Matra to act fast when sourcing new targets. Less red tape. For the record, MB said that they will run the Company with the Non Execs in place as if they were still listed to help with the re listing in the USA. They will need to build the company to a target worth ($200m+) in order to list on the appropriate exchange. Yes you can probably sell with JPJ - up to you. That was just our take on it.
Of course you are being shafted. Anyone that prevents you from trading your shares is shafting you. Ie. Matra BoD's The hope is that one day they relist but I wouldn't hold your breath. Shouldn't be allowed. Another financial regulatory eff up!!!
I am disappointed in this de listing mainly due to the fact the investors should've been aware of the caveats involved in RTO's. They should have known or at the very least they should have been informed by their advisors about the "lock in" period. I think the lock in is an excuse to de list but for why is what troubles me. Barskiy has his shares tied up but there is nothing to stop him from selling his stake for a profit - we can't!! IMHO this guy is a shrewd hard nosed businessman and will care very little or indeed at all for the private investor. He is looking after No.1 Truth is none of us have any idea on what the outcome may be. I will try attend tomorrow.
Stav - why have you changed your tune here?
they must be bored as it looks like they have altered their logo - or its the booze!!!!
If Barskiy re registers Matra in another country how will that affect the PI's? If Barskiy sells Matra how would any "deal" be structured so as to ensure all existing PI's get a return on their shares, i.e. What procedure is in place so as to determine who the PI's actually are, is there a global register that is searched when a Company is sold? Looking at it from a different perspective: What deal could Barskiy negotiate whereby the PI's are left with nowt?
http://www.matrapetroleum.com/m/docs/5205456_12101T02_CNB.PDF Very detailed, the CPR looks thorough with tremendous upside. Only consideration for us is whether or not they re list and that's in the lap of the gods. It'll be interesting to establish at what price the "off market" trading prices start at once delisting is finalised. We are simply passengers with zero influence.
Matra chucking out the news now....
Good enough!!
.......receives it 1st thing please post here. A Circular, including a notice convening a General Meeting will be posted to Shareholders by 7 April 2014. The Circular will contain further information regarding the background and reasons for the proposed the proposed Cancellation.
Yes I reckon I can be in London on the day so I am eager to hear it from the man himself. Worst way my shares will be worthless but at least i'll get a coffee and biscuit - lol I think they will try arrange some form of offline trading opportunity for anyone wanting out. We'll see!!!!
How's it going Ultra - good to hear from you again. Can you believe the ongoing antics with Matra, it's always been an ailing company. Can't wait to hear the pitch on the 23rd by which i'm sure it's a done deal. Have a great weekend. Lt
....roll on Monday. For me the only concerning part of this is the Rule 7! When the deal was done in Texas and Matra agreed to the suspension they should have known about clause 7, the RTO was not based on any caveats so why therefore is this allowed to happen? It's like a get out clause but only for the Company not the PI's. Is the clause 7 the ONLY reason for delisting? Here is the part that surely should not be allowed to happen - On 28 March 2014 the Company received notification from its two major shareholders, Winpro Ventures Corporation (which is 50 per cent. beneficially owned by each of Mr Barskiy and Alltech Capital Limited) and Tricon Energy Finance Limited, that they are unwilling to enter into Lock-In Agreements. As a consequence, the Company is unable to meet the requirements of Rule 7 of the AIM Rules which would apply on Re-Admission and is therefore unable to complete the RTO.
Which way are you all voting, for or against de listing? Anyone going to the meeting?
Done
No. The share remains suspended.
Made me smile though!!!'
less of the cryptic nonsense. pls inform us why you think we will get ******* when the rto goes ahead? i am genuinely interested in hearing your methodology.
Some friend!!! lol Re admission probably April, share price no one has a clue, too many contributing factors, still more information to come........just sit back and either enjoy life.