Member Info for Martin68

Sorry too WD43. Crossed wires with the RNS coming out this morning. I haven't had any information on the proxy vote. Will look into it but what was point 6?

WD43. I'm confused as well. Had to look up the word erudite as never heard it before and I can't see numbers on the RNS either. If you have splinters in the fingers (assume this is a concern) why have an opinion to buy? If you're referring to SML paying NAE's portion of the drilling cost if they can't raise the capital, this was my favourite bit of the RNS. It looks to me like they're struggling to raise cash and we will pay it for them but at the price of an extra 10% of the project, more of a buy in more clause than buy out. I hope they can't raise the funds as I see it as another clever movement by our BoD as it's a bargain at �332k.

StockLife. GCM have the coal mine. Tthis is what GCM have been waiting for. GoB are desperate for the energy and CGGC investing $3.8bn in their country. hmm..... I don't think they will be telling them to jog on.

Forbes has a new execs. Have you checked out Peter Moss He has over 30 years of experience in the financial markets, the majority of which have been in London. Mr Moss is currently Executive Chairman of Cheleb Resources Ltd., an oil & gas production company specialised in marginal and end-of-life assets, as well as a Director of FHolding Ltd The new CEO is Manish Karani. Check with companies house about Peter Moss's two current companies. Oh dear!

No, I do understand. If the it was just the name of a company why will they have nearly two thirds of the shares. It's you who's struggling.

What's with the insults. There has to be a company seeking an RTO for it to happen. It needs two companies for an RTO to take place. If don't understand that basic concept of an RTO you are really struggling. Maybe you throw insults to compensate for you lack of understanding. If you had bothered reading the RNS's you should know all this!!

what's with the insults! The company is Forbes Ventures. That's what the new name will be after the RTO.

I did confirm what will happen. You need 50% of share holders with voting rights to take part at the EGM. Of those, 75% must vote in agreement of the RTO. Two groups own nearly 80% of the shares. They have already stated in an RMS they will be voting for the RTO to take place. The RTO is a formality. DYOR

No one knows what will happen at EGM you say. As an AIM Rule 15 company, the Company intends to seek a single reverse takeover transaction, for which the Company proposes to look for a deal in the technology sector. Any reverse takeover transaction will be subject to approval by Shareholders at a separate extraordinary general meeting. As nearly 80% of the shares are held by two groups and they have both stated they intend to support the RTO, the EGM is a formality and you should already know what will happen?

Sorry, forgot to say. The change over is a week away. Look at the SP over the last month dropping all the time. mannnan, you said "still someone paid today over 3.70", it sound from you like if they didn't it why shouldn't I.. A 25k deal was placed, nothing to a rich man. All this just happens a week before the RTO. Who gains most in a weeks time if the 1p share prices has gone up to 3-4p. The sheep or the wolves.

I paid 4.123. Just giving my opinion. The people who arranged the RTO are private investors/entrepreneurs. The contact on the last RNS is Manish Karani who replaces the CEO of Tengri who's already been kicked. He's the CEO of Forbes Ventures. You need over 75% of the voting shares to allow an RTO to take place. They already have over that percentage which is why they announced the have started trading even though they're not trading under their own company name. They can't do that until the EGM is over which is why they declared it under Tengri Resources. We are swimming in a pool with the big fish, they already own most of the company. I'm not suggesting it will be a loss for us but watch what you're doing if you choose to buy/stay in.. What do you think the ratio of private investors/entrepreneurs living in shop door ways are, compared to those with penthouse flats, pools and driving expensive cars. Would they give it a second thought before stepping on one of us small guys? This is the important bit to know. RNS 1st of November part 1. Introduction. It says "Peterhouse Corporate Finance Limited ("Peterhouse") has raised £650,000 for the Company by way of an issue of unsecured and zero coupon convertible loan notes for the Company (the "Loan Note") to certain private investors (the "CULs Investors"). Upon conversion, the CULs Investors shall obtain new Ordinary Shares in the Company equivalent to 65.54% of the enlarged share capital of the Company, based on the current issued share capital of 113,918,497". Your share's will be diluted by 2/3's nearly. I'm butting out now. I have no motive in posting to you all. I want us small guys to know what those big guys are doing before we get stepped on. Going to find my flock - Baa!! Martyn68

lol. Nope, got spiked long ago. If you think I'm bitter, don't listen/filter me. No choice but to stay in. Everything I've said can be verified by reading the RNS's. Strange the last RNS's says "Tengri Resources - First Day of Dealings" when the EGM decides on whether the RTO should take place and Tengri ceases to exist, being replace by Forbes Ventures. Surprised I didn't get accused of de-ramping out right. Just going to throw some toys out of my cot. Feeling another bitter spell coming on :)

All this arguing. Read the RNS of 17/10, 01/11 and yesterday's. What extra information has been provided. Virtually none! The EGM will just change the name of the company to Forbes Ventures and Tengri won't exist anymore . Everyone has been buying/selling knowing nothing about what is being sold. All we know is they are into Tech which we already knew. Listen to Draft/Quindell. Someone has released a rubbish RNS and a lot of shares have been bought. The Tengri AIM sheep have come along and jumped on board predicting a share price when it is impossible to do so. You won't know what you're getting, the company is just a shell. As me, Saintpeter7 and Draft have discussed, the shares will be heavily diluted when Forbes comes into existence. DYOR

Sell at 1p a share. If you bought below that you're still in profit, if not you lose. Keep you shares and as SP7 says, you will have your current shares diluted to 1 in 3 shares. Look at the share deals, still lots of buys. We have no idea what the new company are making/selling so its hard to say what to do for the best. I feel the two questions I asked myself are relevant. 1. Would these people buy out a company for lots of money if their product wasn't ready for market (The company will start incurring overheads as soon as it's running)? 2. Is a product I know nothing about worth investing in and can these investors/entrepreneurs be relied upon to know when they have a good idea? Nothing on this share is going to change before the 25th of November, so you have time to think. Last Tuesday you though you were knackered, the share price was 1p and it is 1.25p today. Maybe you are screwed but it isn't in our hands and the first time we will have a good idea will be in the weeks following the 25th GL

Thanks SaintPeter7. Guess I need to do a bit more revision. :) At least all Tengri shareholders now know where they stand, which is what I was trying to figure out.

I had expected to get more information from someone who knows more about RTO's than me as people were buying shares when most were selling. As no messages were being posted a did a bit more research and am happy I'm doing the correct thing given what I know. I won't say as I don't want to be seen as ramping/de-ramping. As I see it Tengri is a company a company with little future. Manish Karani and private investors/entrepreneurs have come along with a product in the technology sector needing more funds and an AIM listing to go forward. He saw Tengri and decided he wanted our company as a shell. The reason he wants our company is for the AIM listing and the investor's capital. Mentioning mcap, today's SP, number of shares, the original price of each share is irrelevant. Tengri has no assets, debt or, on hand cash which is required in an RTO. We would have ceased trading in December but this can't happen as more the 75% of shareholder have already agreed to Forbes Ventures offer. The meeting on the 25th November is a formality. Shares have been issued today but as stated in the RNS of 1/11/16, these have already been accounted for and none can be added before the EGM so there are still 113,918,497 shares in issue. There are another 113,918,497 New Deferred shares which have no voting rights and as the RNS says, little to no value. Once the EGM has happened, Tengri will cease to exist shortly after. Forbes Ventures will come into existence. On the day they start the company will have 227,836, 994 shares. All of our old shares and an equal amout for Forbes Ventures share holders. As we have no money Forbes have provided £100k for the financial funding of the RTO and £650k, I assume this what they need to fund the venture at the start, they will then just be another AIM listed company funding themselves how ever they can. The share price will go up/down depending on our re-search and feelings towards the company. I assume the new shares will be issued at 5p. Will they stay there, who knows given we no nothing about what's being sold. The final questions I asked myself were. 1. Would these people buy out a company for lots of money if their product wasn't ready for market (The company will start incurring overheads as soon as it's running)? 2. Is a product I know nothing about worth investing in and can these investors/entrepreneurs be relied upon to know when they have a good idea? As SP7 says DYOR. GL Tengriforbesventure'sss

After some searching I found an article that explained a bit more about RTO's. The buyer needs us as much as we need them. I found this- A reverse merger allows a private company to assume the current reporting status of another company that is public. This can be done quickly, without fundraising, road show, underwriter, substantial ownership dilution, or great expense. Private firms that go public via reverse merger are often motivated by the need to quickly secure financing through privately placed stock (PIPEs) and the desire to make acquisitions using stock as payment. It was a very long article but went into why they sort out any debt before the RTO. Again, from another BB member I remember someone saying on another share that particular company had $?? shell value. Peterhouse Corporate Finance Limited ("Peterhouse") has raised £650,000 for the Company by way of an issue of unsecured and zero coupon convertible loan notes for the Company (in the RNS). We have 113,918,497 ordinary shares. Finance for the RTO has been done again by Peterhouse and raised £100,000. I assume the shell value of Tengri is £650,000 and as we have 113,918,497 shares we will receive roughly 5.7p for each share. This is all new to me so if anyone else thinks I waffling please comment. Someone else must have some idea as even after the RNS there were some buys taking place. I think we all should sit back and relax. It may not be a big pay day but if what I've calculated is correct, we should all be better off than when we started. Except for those who sold. Oooppss!!

I've read a book I have and it looks like we are now under a "scheme of arrangement". I can see the benefit for the predator company as they won't have to pay stamp duty, they will have an AIM listing which is ours and it is quick. I can also see why the predator company don't have voting rights but I'm not sure of the full benefit to us. How did you come to your figures saintpeter7? I'm fairly new to this game and this RTO is a whole new learning experience for me. I was reading an experienced BB's opinion on another RTO and he was happy with the situation. I assume people invested in this are getting confused and pushing the sell button. As I understand it no new information will be available until the "Extraordinary General Meeting" as that is our opportunity to say yes/no to the take over or a third party can come in and make a higher offer. Going off the RNS it is a done deal anyway as two groups of our investors have voted for the RTO. One 28.53% and the other 59.53% which comes to 87.90%. You need at least 75% of our investors to agree for it to go ahead. It says the predator shares will reduce from 5p to 4.9p but ours were standard 5p shares and are going down to 0.1p, why? I sure our bod wouldn't be allowed to see us get stitched and we will be at least on par to what the SP was. I don't tend to get squeaky pants over these things and I'm to far involved to bail out now so in for a penny, in for a pound. It comforts me that the office of fair trading watches over RTO's closely so as everything if fair.

Thanks SP7. I did read it just couldn't get my head around it.

People on LSE must have some shares in this company (I do) but until news comes out about the debt/RTO I feel little interest will be shown. A recent RNS said news was imminent but they have until December to act under AIM's regulations. How long is imminent? They can do an RTO any time they want between now and then, they will sort out the debt before then so I feel both sets of news will quickly follow each other. There isn't really a lot to talk about on this share until the board decide to release news. I've never seen this scenario before and am fairly new to share dealing. Does anyone know why they are issuing shares at twice the current bid price? SP7 says the share price will end up being comfortably above 5p, do you have an idea of what that SP might be as I haven't a clue on how to calculate it?