Member Info for LtdAxis

Good post. Yes of course why would he take the risk on the rests behalf when he can pick up more cheap shares . The company could have issued £15 m of bonds and the authority to issue shares at a future date and a conversion rate at a higher sp. Or any one of a number of different options , or even just set the price a bit higher and issued less shares. But hey ho, it’s done now and at least the road is clearer.

They could have announced that Spencer’s co. had provided a £15/20 million loan facility, as and when needed, to cover the relevant costs on these licences , and kept the shares in issue the same. Share price would be higher , but the big boys do better getting a load of shares cheap and we get the diluted effect . Pi's always lose

Fairfealer: I wasn’t looking 2 ways. In hindsight it’s best to wait until the company is funded ... it now is, so now is a good time to buy .

The current shares in issue are about 37% of the shares that will be in issue by the end of the month . Although the price has dropped by 10% per share the value of the company has more than doubled ( or will do) . You could say the placing reflects a current ‘real’ price per share of about 4.25p, which will be diluted to 1.8p or there about with the placing . Whatever his motives A1 was right in that unless you see the long term (1/2 years or more ) and can wait for the true value to come , albeit with the risk it may never come , then it is best to wait until a company is funded and has a clear way ahead before investing , and unfortunately AiM is not about the longer term. However now seems like a very good time to buy in here ...albeit still on a long term basis for the real upside if they strike gas .

...and ramping up potential farm out on Dewar prospect

Salene “drill ready” according to Swindells.

There is no getting away from the fact that this is a substantially less risky proposition than it was 6 months ago pre the farm outs ... and now the necessary funding is in place to undertake the work, notwithstanding the potential for some future funding needs. A lot of work has been done on these licences even before Cluff and whilst there are always no guarantees of finding viable and extractable reserves, I would say the chances are reasonably good, and the upside absolutely massive ... and there are other licences already in the bag and potentially more to come ...or old ones reacquired !

Could be someone cutting their losses and looking to put money in elsewhere ...patience us not often the name of the game on AIM. Or larger holders bunging in sells to keep the price down for some reason , but I agree, they can’t be being sold at a profit .

...although on re-reading it looks like they sounded the market for a placing and having done so that would have been considered inside information and so they had to RNS pretty quick . Maybe they sounded out to widely rather than down the Ivy in Cluffs days when it could have been kept under wraps for months.

From the disclaimer at the beginning of the RNS it looks like they were bumped into making the placing now as the knowledge had been leaked . Surprised there has been so little discussion on this . They may , in reality, have planned to raise this amount in several months time ?

Shares not approved or issued yet Scooby

As of the end of 2017 they owed creditors £443,356 after 1 year and £8725 in 2017 against about £488k of declared assets (after no activity in previous years . ) I do not know when they purchased their shares , or were lent them . If they were purchased/lent in 2017 there was a spike to 1.15 at the very end of the year giving them a value of about £ 250k as of 31/12/17, and if still held they are now worth only around £90k. Bad if they were long.... nice if they were short , whether for themselves or on behalf of others . Just idle speculation though . No agenda .

Not clutching at straws RKB. There have been musings from other posters as to who the “seller” may be, if indeed there is a persistent seller at all, and it’s not just a normal drift of SP in a news vacuum. I just raised it as it’s quite a large holding in a rather opaque company with an Italian connection ... and more to see who was watching than anything else ;)

I wonder whether ‘An Idea Lives On Ltd’ have been the seller at play over the last few months . They had around 22 million shares when the list was last updated.

Good luck. A very attractive start point imho .

Someone has just popped in with a nice 10.5K investment ;)

This is what the company says on its website: “Following the ruling in favour of the winding up petition, the Company intends requesting either the assignment of the land, on which Clear Leisure, through its wholly-owned subsidiary Clear Leisure 2017 Ltd, holds a first charge, or, alternatively, the payment of the value of the first charge from the proceeds of the auction of the land by the receiver.” and goes on to say , “The Company also maintains a position as a principal unsecured creditor and hopes to recover further funds from the Mediapolis winding up process. The Company will update all the shareholders with regard to further development.” They can’t now appeal so we must assume they haven’t .

It’s not games Max, just a bit of small scale trading on the side to make a few quid and try and keep the pot boiling . My main holding is still intact at 0.6 average and separate from the trading account I was using this week .

I’m just playing around the edges Max. Bought 1m @0.41 in 2 “chunks” yesterday, sold those for av of about 0.445 and bought back & 0.43 ( in another 2 “chunks”)

I’ve bought them back already for less ;)