The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Completely agree! I’d take 1p thanks very much.
Just want out of this s#€% hole of a share. But I’m not going to be scared out now.
What’s 1p at 2.6b shares, just a piddly £26mil?
Even if they exercised all the warrants that’s £40mil.
Or even less if they have secretly bought a massive chunk already. Since no one bothers to obey the rules and publish timely TR1s we are left in the dark as usual.
How many PI shares held now? Someone said under 8% thats around 200 million.
If these scumbags had a grain of sand of humanity left they could easily offer buy us out for a small sum. Evan at 2.6p that’s only around £5m
But we know these are utterly evil scum of the earth.
Well lets hope George doesn't do a placing this time. He did say in the interview he is exploring all other options and that further dilution is not his preferred option.
Also, doesn't he now need shareholder approval to print more shares?
I hope you're right. All I need is 0.5p now to break even, hopefully that's within reach. Hell I'd take 0.25p and a 50% loss to be out of this hellhole lol.
If Anavio still hold 24.5% and the other 'single entity' holds another 24.5%, plus who know which 'entity' bought up the other 100's of millions, at least it seems its not going bust imminently.
If the LSG saved us from Anavio re-negging the placing, warrant & bond price to the 0.03p or so when they knocked the SP down to those lows on 11th Jan, that is already a huge achievement!
Many thanks for that, I was able to average down a bit more that day but not enough due to uncertainty.
Lets see where else this can go.
Keep fighting!
If you think the US market is better, its worse. Total cowboy land. Full of naked shorters, options trading gamblers, etc.
Sure its more liquid, but its utterly unregulated. Good luck to companies trying to move to NASDAQ via a SPAC.
They get instantly attacked by colossal naked shorting from giant exempt MMs like Citi group, who can roll forward their naked positions indefinitely.
Trust me I am on one such stock.
At least in the UK naked shorting is illegal, unlike in the US where it is legal for exempt giant MMs and brokers, and the SEC turns a blind eye. They don't even get a fine!
If you're investing in the US stick to the big caps, they at least are better protected from this rampant naked shorting.
Aren’t there some rules around speed in reporting
TR1?
This is the laziest TR1 reporting I have seen!
8 days later.
When are they going to tell us the position now?
And the single entity, no TR1 from them. Billions of shares have changed hands. This is ridiculous!
Thanks Unnd! Makes sense. So they could convert warrants to shares at any time. If they forward sold them for less than 0.15p on the surface they would lose out, but tactically it could be all in favour of their plan.
If they have been forward sold, it would be interesting to see who bought 1.5 billion shares, I seriously doubt its PIs.
I wonder what the effect on the SP would be of them exercising those warrants?
Also surely if they have already exercised the warrants at some point there should be an RNS or that Canadian service (forgot the name) to let investors know the new number of shares & voting rights.
So far no news release since last week letting us know there are now 2.6 billion shares so I assume not much has changed since that position.
That’s what I’m saying. Don’t they have to exercise the actual warrants (soon) to cover forward selling them (if that’s what they did)?
As I understand it forward selling is like short selling except you know you can get the shares as they will be yours in the future (via bonds or warrants)?
Or did I get that completely wrong?
Won’t they have to exercise the warrants to cover the forward dump?
Won’t they need the sp above 0.15 in order to do that?
SP has not been above 0.15 since the placing & warrants rns so if they forward (short) sold them don’t they need to exercise the actual warrants to cover?
Thanks maidit!
I thought my post got lost in all the other posts.
That’s a real shame, I was really hoping for a bounce back to 0.15 at least. Lets hope the Shareholder Group can win some battles for us poor lth.
If they forward sold them won’t they at least have to cover? That could produce a little rise?
Thanks for doing that Watty.
I would hope the company will talk to the SEC to at least get the culprit brokers fined, and to pit the stock on their ‘hard to short’ list.
Currently they are running amok shorting millions of shares when it suits them.
If it really is a 1 billion barrel field, and as someone quoted profit per barrel is $11 (for COPL at least).
Even if just 2% was extractable that’s 20 mil barrels is $220mil in just the oil. Not even counting the infrastructure. So should be a easy sell to a major?