Member Info for Moho30

I hope the negotiations with the guys who pulled the rug from under them isn't just a face saving exercise to do a deal at any cost. It sounds like it's potentially going to be a good deal for someone - but it may not be SAVE

I don't think 'waiting for good news' is an option not to be trading. There was a clear reason why the shares were suspended ie. a potential deal that could be construed as an RTO, and this seems to have fallen away, so I fail to see a reason how they can justify the continued suspension. Waiting for some other possible deal to materialise is certainly not a reason that the LSE and Nomad I think would consider a good enough reason. I'd still rather the Board had accountability to shareholders and to keep them informed to the extent they can, which I don't feel they have during the prolonged suspension.

Agree with all that RR. Also potentially some corporate governance issues about being suspended on the back of a deal - which was fairly clear, to currently being suspended on the back of a deal where shareholders haven't got a clue what its all about - and likely to have changed considerably from the original. The sooner we get back trading and introduce some accountability the better. (regardless of what happens to the share price short term)

I guess the 480k shares coming to the market to settle the Dir tax liability has been reason for recent share price weakness. Hoping there aren't too many of these zero price vesting LTIP share awards in the pipeline.. Be nice to see some news on Block 125 - or anything for that matter..

Thanks CB. Good commentary. I thought it odd not having an auditors interim review by BDO as well. Not a huge amount of money in the scheme of things. We need to remember the auditors are there mainly for us shareholders. I appreciate it's not a full audit but there's a lot going on and it's definitely seen as best practice. You can question their worth but just wondered why the decision was made and hard to believe it was to save a few $.

Can someone explain why WCAT Nomad deems their announcement doesn't warrant a suspension, while SAVE remain suspended ? Presumably SAVE on the slim chance they are in the running - and I doubt it - it's more likely to be a straight asset deal than an RTO.

RR. I totally agree. I've worked with AIM Cos, and normally NOMAD is covering himself at every opportunity, as regards this sort of thing and what info should be released to the market - (ie. more rather than less info). Perhaps the size balance SAVE v SH has some bearing, though you'd have to assume they are talking to AIM. The RNS yesterday was pointless. The shares are suspended, so why not at least give some detail if this is related to the original deal or something totally different. I can't believe they can have a suspension on the basis of one potential deal, and simply roll in onto another, so I'm thinking still SS related - which I can't say I'm delighted about. This whole extended suspension has also changed the risk profile of SAVE shares in my book.

Kom - Possibly, but the wording didn't seem to suggest any voluntary relinquishment "Malaysia’s Petronas has filed a lawsuit against the government of South Sudan, accusing it of illegally seizing its $1.25 billion local assets. The company claims Juba blocked the sale of its operations and instead took control of its properties", which suggests they are saying it was illegally seized and still belongs to them..

Presumably any deal with SS would also have to involve resolution of the Petronas claim. Otherwise you'd get the situation where Save were on the JV for an interest that wasn't SSGs to hand over ?

Kom - It's not lost. Far from it, and not saying that. Huge value in core assets. Just the fact that a shareholder believes it might be, suggests the Board should be keeping shareholders rather better informed at the very least on the performance and value in the core assets.

Chic - Easy to understand why you might think this, and tragic the company has done little over the past year or so to persuade otherwise. IMO the sooner they get back to working the core assets (Nigeria/Niger), the value will become apparent, but they've spent two years - and probably a year too long - pursuing things that were totally out of their control. Also think they've enjoyed the comfort and unaccountability provided by the suspension a little too much.

Lazy RNS. copy/paste and change the dates. Anything else going on in the company you'd like to inform your shareholders about while you're at it ? I still think SS will never get signed off. Even if it did it sounds like a horrendous place to operate and have a principal asset, which you could never comfortably safeguard.

Good work RR. Particularly like the last 3, but think we'll probably be presented with a lot of fluff and not much else. It would be good to get an opinion from the Nomad re the suspension - but I guess they've covered themselves by saying it's been approved by AIM.

Well done RR. Think you've asked what we all want to know...P**s Poor if AK doesn't attend the AGM

Tier - I'd say the same, and the approval has been pending for over a year (while SS consider any other options ?), and it could be another 1/2/3 - who knows. If sure the minister is giving comforting words but its all BS. I'd like to know what the 'work streams' are and which are still outstanding. My question for the AGM. If I was slightly cynical I'd might also conclude that the exec management have got used to being suspended and quite relish not having to throw scraps of accountability to the irritating PIs.

Still seems to be considerable tolerance on the Board about getting relisted. Talk of coming back with another deal if we haven't got SS over the line doesn't gel with me. It shouldn't be up to the company to be able to choose to come back when it has some good news to report. This was suspended on the basis of a possible deal - which they have been working on for getting on for 2 years - and who know's even if it's any further forward. Gov't sign off is the only thing that matters, and they can scratch around setting up routines and having contracts novated, and everything else, but that shouldn't take this long.

Out of interest, I had a look back through all the various alerts I have set up for companies I follow over the last 15 months and SAVE is just off the bottom, from which one could draw various conclusions. The AIM rules do state that companies must adhere to normal MAR disclosure rules while suspended, and I have written to LSE to clarify. I'd like to think there have been more news worthy operational/corporate or industry news that would normally warrant a news update. I do wonder if the Company has maintained a seperate line of comms with the iis/funds who must be equally frustrated. Time for the PR folk and Nomad to get their feet back under the desk.

Better than IG, who have it down as 0p, so 100% margin cover required.

Good point Zen on the timeline, and something they would have been well aware of last week - so as pointed out, why didn't they just incorporate this release into the previous one ? Producing an RNS after market on a Friday seems a bit spivy. Hopefully the iis with a direct line to the Board will still be on the case come Monday.

Ideally not after midday. Friday afternoon RNSs were always where you tried to slip out the cr*p news.