Member Info for ocelot

Resolution 6 was a special resolution, so it needed 75% of votes cast.

When I finally took a look at Rodders Jones's site, I was very surprised by what I found: he has developed a dislike of the "behaviours" of management.

I was expecting to find an argued case in favour of an alternative management strategy!

Looks like the naysayers have got what they've been asking for.

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the Company has committed to put in place an annual MAR compliant Defined Director Share Purchase Programme ("DDSPP") in which a director commits to purchase UKOG ordinary shares each month equivalent in value to a fixed percentage of their net monthly salary. In line with other such schemes, the director's commitment is envisaged to be in the range of 5-10% of net salary, dependent upon individual circumstance.

Upon commitment to the DDSPP, which is expected to occur in the open period following the publication of UKOG's interim results, due on or before June 30(th) , 2021, the director will purchase shares from the market on the first Friday of each month for a period of 12 months. Consequently, the first DDSPP purchase is expected to occur on Friday July 2(nd) , 2021 and the final purchase on Friday June 3(rd) , 2022.

Upon entering into the DDSPP in an open period the director will be committed to make the monthly purchase of shares under the programme in what otherwise may be a close period. Entering into the DDSPP will not preclude the director from buying additional shares in the Company during open periods. The director will be able to enter a new DDSPP upon completion of an existing programme.

The market will be notified of the share purchases under the DDSPP on the next trading day via a PDMR: Director's dealing notification. Further details will be issued in due course.

Loxley appeal scheduled to begin on 27/07, less than 2 months away now.

These green rows are piling up, so this is just to say "hello" and am looking forward to the next news from the company.

... The new finds will enable the country to extract 6,800 barrels of crude oil per day, he added.

Akoba-1 and Yenisehir-1, the two oil wells in the southeastern province of Diyarbakir, have a daily production capacity of 2,800 and 3,000 barrels a day, respectively, according to Dönmez’s remarks...

elir71,

Personally, not interested in "shareholder power v board power", simply interested in what is likely to be the most effective and least costly approach for the company and for shareholders.

elir71, ian67,

We will have to agree to disagree on this one.

An open offer takes about a month to complete. It can only be successful if, during that time, the share price is stable or rising. If the price falls, then you can end up with almost zero take-up.

Consequently, in making an open offer, management is likely to offer a bigger discount to the current price than in a placing which can be completed very quickly indeed (saw one placing completed in an hour and a half).

I shall be voting for all resolutions.

In the case of small and micro caps, prefer management to retain the flexibility of placings and not be obliged to undertake open offers, which take time and involve the uncertainty of the percentage take-up by shareholders.

https://www.albamineralresources.com/wp-content/uploads/2021/05/2021-AGM-Circular-WEB.pdf

Alba's site, Investor Relations, Other Corporate Documents.

If your shares are held in a nominee account, you'll need to give instructions to your broker.

"We're pushing ahead at pace".

Fair enough, Ibug, I misunderstood what you were saying.

(C) exercise of warrants

The shareholders taking part here could play a big part in the resolutions already tabled.
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Ibug,

2 different things:

the shareholders "taking part here" are expressing a personal opinion about UKOG's management, they are not expressing an opinion about strategy;

the GM's 2 resolutions concern strategy and its funding.

Imho, and FWIW, think that the proposed IPO of the Greenland assets means the share price can double or treble from its current level and this is before factoring in further progress in Wales.

All shareholders can vote at the GM of 07/06.

Those who are not shareholders can't.

Ibug is simply reminding us all to vote at the GM on 07/06.

2 months and 4 days since the construction commencement RNS.

Good news!

The low valuation of the Greenland assets has held back Alba:
1/ it has meant that no joint ventures have been arranged, because of the gap in valuation of the relevant asset between Alba and the potential partner;
2/ it has held back the share price, restricting the amount of funds that Alba could raise at any one time.
The solution proposed by Alba is, therefore, to let the market get to grips with the valuation of the Greenland assets in a stand-alone listed company.
That makes a great deal of sense and should provide a very significant boost to Alba's share price.