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Annulment
Annulment is an exceptional recourse to safeguard against the violation of fundamental legal principles relating to the process (Article 52 of the ICSID Convention, Arbitration Rules 50 and 52-55). A party may apply for full or partial annulment of an award on the basis of one or more of the following five grounds:
the Tribunal was not properly constituted;
the Tribunal has manifestly exceeded its powers;
there was corruption on the part of a member of the Tribunal;
there has been a serious departure from a fundamental rule of procedure; or
the award has failed to state the reasons on which it is based.
So Italian government has no room to manoeuvre as I’m pretty sure the ICSID will not be proven to be corrupt by their own people.
It’s a done deal and enforceable, slam dunk, money in bank, I think once this sinks in sp will climb significantly
Award came in around my own expectations, the future is very positive. Today I was thinking to add a few more but sat on my hands, it’s all good. I believe this is still a multibagger from here. 15p will look ridiculous in 18 months
Good luck all, especially long term holders
35+ years for me in this dream, looks like it’s going to come true
As said earlier the case is closed.
My understanding is that they are writing the case up - conclusion. As with all such things this will go through many internal reviews to ensure no mistakes. My guess is that is where this is at.
It is currently holiday time in Central Europe, so like most I can see this being extended unfortunately.
I do think we will be awarded some compensation, my guess and from reading sone good articles on such matters is that we will be a awarded 50% of the claim, with the assumption that we have some liability for not mitigating the other 50%.
GLA, Here comes the sun, how many blue bottles, bring on the dancing girls
Will be selling in the £5 range, didn’t invest all this time to get money back or peanuts.
Go big or go home, that’s my own philosophy with these. Anywhere above £2 would give me financial independence for rest of my life. Bring it on
Great questions LTT, maybe they just put the money in the war reserves because the dilution is done unfortunately.
Timing always sucks with this share, but a big pay out would still be very welcome and does give RKH more stability as an ongoing concern. However it’s still all or nothing in my mind …if sea lion remains untouched we lose…simples
“I hope things happen quicker than that, but almost certainly 2026/2027 is probably the best case to first oil. I thought it would be 2015!”
If we can just invite time travel before then…..where is my flux capacitor when I need it
Big red, no need to name call me. It just gets boring with you and garbled arguing over how he invested and if it’s true. I’ve seen his posts for many years, at end of day I don’t blame anyone for my investment decisions but me. I don’t care what garbled has or hasn’t done. I don’t think people need reminding to DYOR in every post. Be good if we got some other discussion going. I know it’s bit ground hog until OM or FID, but sometimes a knowledgable oil person teaches me something I find useful
DYOR, just a hunch matey or the other stuff you always end with
My average is sadly 48p, long term holder from the DES days, 35 years later and sitting on quite a loss, could have been a millionaire if I’d bought something else of course. To recover all that time and money would need this share to get to £1 minimum, I’m still deluded enough to think it will….I guess it will be my epitaph / grave stone
here he lies, bones and dust, sea lion untouched, rockhopper bust
You can’t sell off profits in warrants, the warrants are worthless until the sp is over 9p anyway.
I don’t see any profit from selling when the placing and OO was 7p and the sp now is at 7p???
What might happen is if the sp rises to say 10p there maybe some selling into this, we usually get stuck around 12p, not sure why but this is a level I can see the share rising to and then stalling unless some major news. My average is still over 40p , despite buying more than my allocation in the OO.
I’m not waiting after 35 years though to break even. I’m greedy, I ant this share trading in £s, many multiples of todays sp.
Then I’ll die vindicated
Good luck all
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Latest time and date for receipt of completed Application Forms and payment in full from Qualifying Shareholders under the Open Offer or settlement of the relevant CREST instructions (as appropriate)................................................
11.00 a.m. on 4 July 2022
Results of the Open Offer expected to be announced through a Regulatory Information Service.........................................
5 July 2022
Second Admission and commencement of dealings in the Open Offer Shares on AIM expected to commence............
8.00 a.m. on 7 July 2022
Expected date for CREST accounts to be credited with the Open Offer Shares and Open Offer Warrants in uncertificated form..................................................................................
As soon as practicable after 8.00 a.m. on 7 July 2022
Expected date for dispatch of definitive certificates in respect of the Open Offer Shares and Open Offer Warrants to be issued in certificated form..........................................
By 21 July 2022
what’s the second admission is that new? or anything to be concerned about
Hi Gordon,
I’m with ii, the Corporate Action is now updated as closed, the money I put into my account to cover not only my allocated subscription but additional requested shares has been taken.
So now I guess they are processing the applications. If I’m successful I believe i have the shares to trade on 6th of July, if not they reimburse me with the cash for the shares I was unsuccessful in applying for. I think that reimbursement can take a few weeks.
Hope that helps in some way
Second thought is what are the chances we get bought, just before or more likely after FID?
As an “exploration company”, we haven’t explored anything for many years. So does Rockhopper sell off its production interests and explores something else? Sell up completely and Sam just takes a nice cheque and some kind cut of profits going forward? Seat at the hob nobs table etc.
If we are sold off let’s say after FID or around that time, what is the multiple on the sp the buyer would have to pay? 100 x , 200 x 300 x?
Then I will be buying the 9p warrants for sure lol
Agreed ovetts the timing makes no sense.
When end of 2023 comes the sp needs to be above the warrant price of 9p or there is obviously no point in buying them. This share has a history of disappointing on many levels, but especially meeting any deadlines or dates they set.
Navitas may be the saviours here, but I’m not convinced they have any silver bullets to speed this tedious process along. Therefore, unless OM comes in VERY good (which I expect we get something) or there is some other positive news along the way, the sp will probably bump along in a range not dissimilar to the last year or so. As 2023 progresses and the jungle drums say Navitas are collecting investors, maybe there will be a gradual return of confidence and some sp movement, rather than a Big Bang when FID announced.
It’s aim so there always seems to be some fund or MM selling us off just when we think we are due a rerating. It always seems highly manipulated at the PIs expense.
Bottom line is ..for gods sake get this FID over the finish line
Watch the video and you will see Sam say Navitas are talking about FID in 24 and it’s usually 2 and a half years from FID to first oil
I didn’t come up with anything myself, I’m just relaying what I heard, did I hear it right ?
Before I thought FID was 23 and first oil I didn’t know, but I didn’t think it would take another 2.5 years