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I applied for quite a lot in the expectation of the allocation getting heavily scaled back. LoL 😬

Hope not!

It’s weird how GP has been informed already.

AJBell is just showing outstanding orders.

The warrants are nice, but they can be a burden if the institutions start doing clever stuff with them.

If you buy in the market at 1.2p (and that may yet be possible) you don’t get the warrants.

Or…. it is oversubscribed and EOG directors are trying to keep retail happy by extending the £350k?

Glass half full to Nigel’s broken glass 😉

Dai,

I’m not sure I can handle the truth 👀

I’ve learnt a lot in the past 24 hours. Most of what I’ve learnt tells me that I am of no consequence 😳

I don’t have an ii.co.uk account.

I’m tempted to open one up this morning, fund it and see if I can buy in the Retail Offer!

No… it is a bit all over 😳

We have a savings account with Paragon

We have bank (current) accounts with Lloyds

Transferring money from Paragon to Lloyds was ‘instant’ but then took two hours to clear!

My wife and I both have accounts with AJBell. That’s vital as AJBell will do WRAP. They don’t mind which type of account you have nor do they seem bothered as to how many EOG shares you currently own.

We’ve now done my wife’s cash transfer to AJBell and placed her bid in the pathetic Retail Offer.

I will transfer money tomorrow morning to AJBell to see if I can get any. The key is whether the money clears before the book is closed.

Hello Dai,

I transferred cash from an online saver (part of Paragon) late this afternoon. After an hour, Lloyds Bank (automated) still refused to transfer the cash to AJBell as the cash hadn’t cleared.

I’ve just got back in from my wonderful every Tuesday night out and the cash has now cleared. So order now placed on my wife’s behalf.

If the book is still open tomorrow, I have another transfer to do in my name but I suspect I’ll be too late with that.

Quite frankly, I am disgusted. We have the cash to buy 30 new shares for each 100 we own.

But it isn’t based on how many you already own. It’s just simply this:

1/ do you have an account with a broker that does WRAP?

2/ Can you get cleared funds to a trading account with that broker pronto?

3/ Bid for as much as you can regardless of your existing shareholding (so much for pro-rata)

4/ Feel pleased if you get even 10% of what you bid for as this will be massively oversubscribed

5/ Use the unused cash in your trading account to buy in the market as this share price is only going one way once the front-running is done

I’ve got an account that will do it but Lloyds Bank isn’t clearing funds fast enough. I can’t top up my share dealing account as the funds haven’t cleared. Bug*ger

Anyone heard from A J Bell yet?

Thanks chaps 👍

The bloke at AJBell said that the allocations ‘earned’ from my ISA and my Sipp could be bought through my trading account if I’ve used up this year’s ISA allowance or if I don’t want to or can’t fund my Sipp. Let’s hope he’s right.

Not as clear or helpful with Halifax Sharedealing 😳

Given the SHOUTY part of both of this morning’s RNSs, it’s pretty clear that this fund raising (institutional and retail) will happen and EOG will then have north of £5m in the bank.

Let’s hope it’s put to good use. At least it gets rid of the financing risk associated with this company.

Okay, so the placing has happened…

Newbie type questions as I’ve usually ignored placings & retail offers

How does the retail offer work via this WRAP?

Am I offered so many shares (based on my Sipp or ISA holdings) but I have to buy the offered shares via the WRAP? This would then leave the shares outside of the tax wrappers.

Also, any idea/guess/suggestion of when the effective date might be (eg, number of shares held as at close of play on 9th Feb)?

The RNS says retail will be offered shares but it doesn’t mention warrants.

3 new shares for every 10 you hold?

WH has some skin in the game here as does Bo. I don’t think they wanted to do this at this price - I suspect they had to do it fairly quickly. It wasn’t so long ago that the AGM vote hobbled WH to some extent, so he’s been pretty busy, including a trip to China.

You’re right though - after all the optimism from the farm out, £3.5m at 1.2p stings a bit.

Perhaps EOG needs the money to get everything signed off 😳

Cove Energy Plc did four placings and sold for a fortune ….

Nigel was right

Hi Serif,

Indeed. As long as Europa have got the $500,000 or whatever it was from the sale of 4.5% of the gross revenue from Wressle-1, then all that’s new is - as you say - the name of the buyer (rather than lender, hopefully).

For Albion Labs, it’s a great deal. Steady income stream but doesn’t have to worry about costs or U.K. taxes 😳