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Something's about to happen? The MM's are having trouble keeping the SP down? After watching this do nothing but find new lows for 3.5 years, your patter is about as convincing as Scaramucci. This bird wouldn't "voom" if you put four million volts through it! You may as well tell us it's pining for the fjiords.
Despite the silly positive up-talking, Igas just continues to slide even further, continuing their 3.5 year downtrend. Down 14% in a month. How's that "coiled spring? looking?
As most of teh Australians that owned 83% of Igas before the recent restructure, I haven't been able to attend any AGM of Igas but I read everything the company puts out. Why? How does that matter? I deal in facts rather than overly optimistic and unfounded fantasies.
"Unsupported Negative comments only designed to aid the Tree Shake" How about unsupported positive comments are simply ramping. After being an unwilling shareholder in this flea-bitten dog for the last three years and lost a lot of money (like anyone that's held this company over that time frame), I've seen how negligent the directors have been and how there is still no change that is going to do anything positive. A coiled spring that's going to gap up soon? I suppose it's only pining for the fijords.
"New investors and New Directors but same potential " Unless the company actually does something, that is the same (lack of) potential. And they are headed back to 4.5p again except that will be 1/20th of 4.5p. They've done absolutely nothing (positive) for the last three years. The directors don't even appear to know the company has shareholders.
If he's like 83% of shareholders (before the recent capital raising), he's an Australian and can't sell the stupid shares in Australia. ANd if he's an Australian he's have had the shares since they were 1.30 and lost 96% of what they were worth. At current prices it would cost more to sell the shares than they would bring.
The SP floor was reached back at below 4.5p after 96.5% of the value had evaporated. The company hasn't done anything to protect or improve the shareholder's investment in the last 3 years. Now after cutting existing shareholder's equity to 20% and amalgamating, the company resumes doing absolutely nothing for a few more years. How long will it take for the SP to go back to 4.5p again and holders have lost every cent they put into this fleabitten excuse for a business?
Since Igas was given the assets of Dart Energy to get their large prospective shale tenements, they have ****ed away 96.5% of the SP. Currently at around 4.5p thare isn't much more the SP can lose (and until the company gets off their arse and actually does something, the SP will not increase. Consolidation just gives the SP much further to fall than it currently can. WIth the company's appalling record of wasting the investment of shareholders, there's no way I'd vote for these crooks to set the SP up to fall a lot more. Until they do something positive, I won't be voting for anything they propose.
1. take up / vote for the offer / restructing and look forward to the future, maybe recover investment or make a profit. Do the arithmetic and understand what the dilution will mean for your holding. At the moment you need a 2800% increase in the share price to get back to where you started. The planned dilution will mean you'll now need a 28000% increase. maybe recover or possibly make a profit? Hah! 2. sell eixsting share holding and get out what you can. If you are like the aussies that make up 85% of shareholders, you haven't been able to sell your shares at all for the last three years. We've had our company stolen and given to Igas and been locked out only to see the value squandered away by thieves and parasites. And just to put the icing on the cake, those 85% of shareholders can't buy in at the bargain price (if they wanted to) If you really think this mob are going to act in your interests, you're in denial. Your investment's gone, you just don't recognise it.
When it comes to putting the nail in the coffin of this company that's already been done by the pitiful excuse for a board this company is run by. They mismanaged andput it in so much debt that the shares are worth 3.5% of what they were three years ago. And now they propose to dilute it so that your shares are worth even less and you have no chance of recovering more than a fraction of your investment. With this deal there is no hope of recovering our losses. Do the arithmetic. Since my investment is down the plughole, I'd rather not vote to keep these parasites and thieves in a job and want to see them out on the street. Keeping the dream !!! What a joke.
Well said hayhay. This board have completely stiffed shareholders and the SP is now 3.5% of what it was 3 years ago. Anyone that has held the share has lost money. And if that isn't enough, now they want to dilute the pathetic fragment of value left in your shares so that there's next to nothing left for holders. Not a shred of evidence these scum have any concern for the shareholders that have been totally ripped off and no reason to believe they are about to start acting in shareholders interest in the future. The poor aussie shareholders have been done twice, having seen their company stolen by a 16% shareholder who then gave it away to the pirates that run Igas while being told it was the best chance to monetise their investment. And if that wasn't enough they then found out that they couldn't even sell their holdings from Australia. Everyone should vote NO. This company is only going to steal your money anyway.
Igas have done nothing positive in the last three years and watched 98% of the value of the company vanish. They've done absolutely nothing to arrest the decline, have done nothing to realise on the assets and have run things so badly that they are swamping existing shareholders to dilute their holding to just a fraction of what it is now. Added to that they are offering shareholders the "opportunity" to give them more money to see it go the same way. Without doubt Igas is the worst company I've had the misfortune to be caught up with - a complete disaster.
It has NEVER been a good time to buy into this company. Why would expect it to turn around now?
If you thought 8p was a bit low, the board is going to halve that again! The Company will also seek to raise additional equity funding and existing shareholders will be given the opportunity to participate in this additional fundraising. The placing price is expected to be c.4.5p. Oh yes .. the company would love to siphon more funds from as many suckers as they can. The bad news is they are setting the share price back to 4.5p!!! The Potential Transaction would be expected to result in a significant reduction in gross outstanding debt and a significant dilution of the existing shareholders So existing shareholders have been stiffed yet again by the board. Your shares are now worth almost nothing. The company has done absolutely nothing to improve the share price in the last three years. Quite the opposite, they have managed to completely **** away 96% of what the value was three years ago.
"Why would such heavy weights buy millions of shares in this dead dog?" Simple ... they didn't buy. They are nominees holding shares for other unnamed owners.