Member Info for Naibob

I never believed in fat men delivering gifts at Christmas anyway....with now one day to go are there really people who still think this is a 'back office' error or a victim of transatlantic regulatory red tape....? I would counter that if this was the case we would have been updated as such....My old Nan said "if you haven't got anything good to say...say nothing.." and I fear that's where we currently sit...

Ok Alaric, fair comment I guess (save for the trolls jibe) but, and in my view the big but, let’s imagine that the deal hasn’t ‘fallen through’ but has encountered renegotiations around terms for example does that oblige SLE, and by default it’s nomad, to inform us as such? Probably not I would suggest…to keep ploughing the line that this is just a technical issue around international funds transferring is frankly for the birds. Clearly something is up, and it can’t be to our benefit, else we would have heard about it. No news is not good news in the SLE world based on historic trends. As always hope to be proved wrong….

...another bile laden post from Alaric...i cannot understand why the 'glass half-full' brigade need to be so aggressive and hurl personal insults around all the time. Very poor show and really detracts from the, occasional, valid arguments being put across in defence of SLE and the oft challenging predicaments it finds itself in!

Thanks for sorting the article behind the link CJ, much appreciated.

Whilst you are right that it doesn’t add anything really to what we already knew the fact that it’s being reported in the IR might at least push OF to keep us a bit more abreast of how the minor technical issue with the funds transfer is progressing…hope springs and all that.

Ps good summary in last post.

Hi CJ , are you able to get around the paywall? If so would you be so kind as to copy & paste the article for the benefit of this board?

Dear Mr.Swan How dare you trawl through clearly disreputable foreign media and share a good news story on this forum! Call yourself a troll...? Oh no, my mistake, that will be the abusive trio that feel compelled to hurl that moniker around whenever anyone has the temerity to post anything less than giddily positive...

This from the bottom of Malcy's reportage on today's statement from SLE....I think it's quite clear what team he's on!

"The fact that there appears to have been a technical, maybe back office misunderstanding as to where the funds have been directed means that the shares remain suspended but the two companies are ‘working together’ to sort out the delay in clearance"

https://www.malcysblog.com/2023/11/oil-price-san-leon-europa-sdx-coro-and-finally/

I was wondering what had happened to the imminent funds due….

As previously announced on 2 November 2023, TRAM had confirmed to San Leon that funds were in the process of being transferred to San Leon in respect of the loan facility. TRAM also subsequently confirmed to San Leon that funds had been transferred in respect of the subscription. To date, neither payment has been received by the Company and San Leon continues to work with TRAM to understand the reasons for the delay and to enable funds to be released.

I should note this is Google translated from the Maltese original, not that I’m sure it makes anymore sense to me in English!

By chance I arrived in Malta yesterday for a cheeky long weekend….in between exploring and eating I found this on your link. It looks like a note from yesterday’s attempted hearing -

When the case was called, Av. Keith Borg for the respondent company.

The claimant noe the Av. Jonathan Abela Fiorentino sent to inform the Court that he cannot attend today's hearing.

The Court notes that just yesterday a note of the claimant noe was presented, a copy of which the defender of the respondent company still does not have.

The Court adjourned the case for the same purpose as the previous minutes until 23 February 2024 at 11.15am.

Later appeared the Av. Jonathan Abela Fiorentino, who while confirming what Av. Keith Borg had informed the Court about it, requested that on instructions sent to him by the clients yesterday evening, withdraw from the note the second document, DOK JAF7 (fol 467 - 469 of the process). He declares that this does not mean that what was declared to the Court is not true.

The Court accepts the request and authorizes the claimant noe to do so.

The claimant is now withdrawing the same document.

You could argue it provides some much needed balance amongst the sometimes giddy positivity banded around this board.

As a LTH I want to see all news and comment, good bad and ugly, so that i can try and form my own opinions. I thank those that take their time to trawl through foreign media for pertinent stories, no matter what angle they lean on.

Personally I find the so-called 'negative squad' to be less disingenuous than some of the clearly rose tinted rampers. It's all a matter of taste of course but iv'e been around this share long enough to maintain a level of scepticism that will not have me pulling out the champagne every time OF proclaims a new company changing deal.....the proof, as ever, will be in the re-listing and the resultant market movements.

History would caution selling your old car just yet!

Https://www.youtube.com/watch?v=yN_w3RLuB3s

The man with the tiny spectacles and the large Panerai looks Cheshire cat like to me....couple of minor flags re timing but love the positivity overall

Pretty spot on in my book BS.
From my persepective Alaric at least doesn’t mock others for their loses which, for anyone invested here for more than the last couple of years, must have incurred (feel free to dispute my timeline on this, life moves on so quickly!). Also, if they are, as some suggest, one in the same then the use of repeatable childish incoherent gibberish on the Sam account is truly acting of the highest order as for all his faults the scribblings of Alaric are most articulate and easy on the eye to the armchair reader.

I’ve just checked another share I have that is de-listed and it appears that all old chat and RNSs etc is still viewable even after almost 2 years, at least on LSE. It also looked like I could post although I didn’t follow it through…

So we can safely assume there is no hard and fast 12 month AIM suspension ruling but that does then lead one to ponder on the statement about the 8th July, and the potential cancellation of trading if we should not submit an admission doc prior. It’s a definite change in position and does make me feel we are being softened up for just that outcome.
I know it’s complex but they’ve had a year and god knows how much money has been thrown at lawyers and corporate reorganisation specialists.
I suspect the devil is in the detail of the syndicate’s T&Cs and how penal they are around any default/payment delays but that’s just my guess.

“AIM admission document to be issued on 24th June 2022….” You quote from RNS Blackswan. Is that a minor typo? I thought last RNS stated “by 24th June”

Whilst this is a trifling point in the grand scheme of things your take would allay my fears more as to why we are going down to the wire. If this much lauded ‘transformational’ deal is done and dusted then surely tell the world all about it. Or if, after all this time, fine tuning of the detail is still ongoing then that is more of a concern to say the least.
Only 5 more sleeps as the youngsters say before heading off on adventures! Hopefully we don’t wake up with a horrible hangover…

Yes Red, I’m sure one of our previous self-imposed suspensions had us on the clock for 6 months but maybe different rules apply for RTOs.
I must say I admire your positivity and hope you are correct. With less than a fortnight to wait will we soon all find out…

Interesting article on the big companies movement away from the Nigerian scene and their inability to stem losses through in a 'state of near lawlessness'

https://allafrica.com/stories/202206090109.html

Anyway, 15 days to go till, at the very least, another RNS but hopefully good news and a resumption of trading...

Is there a 12 month limit on AIM suspension? is that why the 24th June has been stated?

Alaric - the ‘fake one’, as you put it, does not warrant mention in this thread IMO. I was only hoping to address the reasoned debate which I believe you too purport to champion. His nonsense, whilst on occasion mildly amusing, can, I believe, be seen clearly as just that.
I honestly haven’t visited the other board in ages, the reformatting was enough to confuse and old technophobe like me, but I thank you for the steer and will hold one’s nose and pay it a revisit.
Ps - I couldn’t use the BS acronym for Blackswan for fear of awakening the ghost of Brother Seven…