Member Info for quelfromage1

And the SLE website is duly updated re significant shareholders - all is fine.

investz, SP seems to have recovered significantly - phew!
Hoping some of the big (apparent?) sells are only profit-taking (prudence) and not based on inside knowledge.
QF

Some profit taking perhaps? After all it's been a good rise from 50p ...
QF

O&W, don't know but someone said it may take a week or so as CG are US based ... and they may then be in a position to update the website significant shareholders % ownership (currently they add up to 100.2%).

QF

Hopefully on the right part of the parabolic curve :O)

Bandit, smart money jumping in but not I think for the SBB itself but what is expected after the SBB?

gazza, looking at all the buying yesterday seems like many agree. I think you should be prepared to hold for some time any shares not taken up as part of the offer albeit I believe longer term the sp >> 46p (which is most likely Tosca's view as discussed on here) .
If the sp goes much higher one might as well sell into the market ... you then have full control.

QF

Reports are so variable it seems impossible to know what's going on.
They range from 50 dead to no knowledge at all on the part of tve NNPC.

https://www.google.com/amp/s/www.vanguardngr.com/2019/03/no-record-of-pipeline-explosion-in-nembe-nnpc/amp/

One would hope that because the issue was upstream of oml18 there may be no impact. But let's wait for a clearer picture.
QF

Yes Mclean an argument to not sell for 46p.

Well it depends what you do with the remaining 90k shares - keep them, sell them?

If, as a hypothetical example, you buy 100k then sell 90k at today's bid-offer spread 35.3, 36p (at the time of writing) and including dealing costs and stamp duty, sell 10k for 0.46p then I estimate you would make £166 profit!

The stamp duty takes a chunk (£180 or 0.5%) and the spread. So whether you make a (decent) profit critically depends on what price you can get for the 90k ...

QF

BS - no idea! But the company survived and here we are.

BS - yes and, given that Barryroe is beginning to move forward and the number of large investors with purchases at or around the 45p mark plus all the other points in Mcleans ii posts and from bluerill earlier, all the signs are that the future sp will be >> 45p.
I have some shares purchased at 21 and at 26p (but overall average is 65-70p) but at the moment I'm inclined to hold. It will be interesting to see if the SBB impacts the free float significantly (depends on what type of shareholder takes up the offer) as this could lead to more trading opportunities (short term spikes) which I'm sometimes in a position to exploit (day job permitting!).

Looks like our fake Nigerian - the one who can revert to very good English when provoked - is still short ...

QF

Yes good news. I'm in for the long haul so my initial reaction is that I probably won't take up the 46p offer.

Perhaps the Feb payment and the commencement of the sbb will be announced in one rns ... Very soon

Alaric, redeyemines, thanks for clarifying, got my head buried in my day job!

Onwards and upwards ...

QF

"Upon court approval, the Company must then advertise to provide an opportunity for any creditors to object to the capital reorganisation."

Anyone know how long this period is (typically)?

QF

Yes, Alaric, nice to see.
13342515 1 B15 COURT ORDER REDUCING CAPITAL RECEIVED 12/02/2019

And I did. Another £3k ... another spike to 60p+ will be nice ...

Getting a bit twitchy for some reason ... perhaps because a return oi finally seems close...

?