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Sorry, the precise figure is in the RNS, GF's holding in Alba will be 10.7% post completion.

The share ownership of Alba is being transformed. Given the very high percentage of the acquisition price being paid in Alba shares, isn't GF going to emerge as a major shareholder in Alba?

Yes, this is an important deal.

£30k in cash and £945k in shares = total of £975k of which approx £600k is for ERM's controlling 51% in the project. Alba's market cap at the close on Friday was about £2.5m.

"As part of the agreement, Alba will have a right of first refusal over ERM's remaining 49% interest".

TH2,

It's an address to the City, sounds as if it is going to concentrate on some pretty nitty-gritty City material such as speeding up the approval process for market participants.

But, given her audience, anything the Chancellor can say to allay concerns about the UK's debt and deficit would be appreciated.

"The Company has also raised £550,000 (before costs) in a share placing to institutional investors".

So, no retail participation.

£550k = more than 20% of last Friday's closing market cap.

Let us hope some of these IIs have invested for the longer term.

Is available on the hub.

"We think the value there (at Motzfeldt) is hidden ...".

The GROC IPO focused attention within Alba on Clogau.

Clogau is still there but this morning's RNS shifts the focus again and places Clogau within a wider portfolio.

Given its related party nature, this acquisition has presumably been under review for a long time so it is all a question of timing, ie what prompted the acquisition now?

In which it announces a critical metals acquisition in Greenland contains a section on "Strategic Funding Opportunities" (scroll down):

https://www.londonstockexchange.com/news-article/ALBA/acquisition-placing/17131850

Back into Greenland.

The share placing discount appears to be quite tight, but the share price did decline sharply last Friday.

The exercise price for the warrants is low, 0.0255p.

Figures for condensates? Revenue figures?

What we should get this week are the Q2 production figures. The last 2 such RNSs were released on the 16th.

Some key figures selected from the interim results to 31/03/25:

Revenue £11.302m

Operating profit: £3.367m

Finance cost: £1.585m

Net cash generated in operating activities: £1.511m

Acquisition of oil and gas production assets: £1.673m

As a matter of curiosity, who is "Dids", please? He is one of my green boxes but I have no idea which one.

The company has been financed exclusively by equity so there is no financial debt.

The leak of 19/05 was so on the money it prompted an RNS from ANGS very soon afterwards.

The leak said the RTO "Could be the start of something very big". In its RNS, ANGS confirmed that "Completion of this transformational transaction would represent a major strategic development for Angus Energy, with a significant increase in reserves, production and positive cash flow".

As Onetomany has indicated, the financing of the deal may include an effort by shareholders.

This would help to explain yesterday's proposed appointment of 3 new directors representing Forum, Aleph and management.

Note: the leak of 19/05 spoke of a "massive US oil & gas asset" whereas ANGS's RNS of that same day speaks of "a group of producing assets".

The leak of 19/05 spoke of a "... massive U.S. oil & gas asset, already gushing black gold. Could be the start of something very big…"

IF KZ is in the States undertaking due diligence, then the length of time of the due diligence would seem to support the suggested magnitude of the assets in question.

Angus's contact name for yesterday's RNS was, as for the Interim Results RNS of 30/06, Carlos Fernandes, not Krzys Zielicki.

It could mean KZ has offered himself some holiday but, more likely, imho, he is in the States undertaking due diligence.

Post the recent deferring of consideration payments, the balance becomes payable at the end of June 2025 and so £1.59m will become payable on 1st July 2025. Assuming it is not received in cash, Forum can elect to receive shares instead.

So, including the £300,000 for the quarter to end March, Forum has agreed to suspend its rights to receive payment in equity for a period of 6 months while the Company is completing due diligence on a potential .

Finally there are some board changes imminent, Forum has requested the appointment of a new NED, Richard Glass’ appointment is expected to be announced in due course and Jonathan Tidswell-Pretorius as a non-board COO is also underway.

With this RTO in the background all other arrangements probably should go on hold whilst it either happens or it doesn’t, until then bets are off and Angus carries on delivering excellent operational performance at Saltfleetby.

https://www.malcysblog.com/2025/07/oil-price-angus-petro-matad/

The Company has accepted the resignation of Paul Forrest, a Non-Executive Director of the Company, with effect from today. Paul has been involved in the development of Saltfleetby since 2019 and joined the Board of Angus in July 2022. Now that the Company has secured the Trafigura refinancing, Paul feels it is the right time to pursue other interests ... (RNS of 30/04/24)