Member Info for quindell

The wording is absolutely pathetic in all honesty, it quite literally is a contradiction in the same sentence! ; "In order to provide shareholders the opportunity to subscribe for Ordinary Shares at the Placing Price, the Company intends to make an Open Offer to all qualifying UK shareholders shortly following Admission to raise up to £0.56 million" The "following admission" part makes me think that its available to all holders post placing, but then again at the beginning it states "in order to provide shareholders the opportunity to subscribe for ordinary shares at the placing price" ... why couldn't they have clarified the statement instead of being all hazy. They should have given the open offer exclusively to existing shareholders...Its yet another move that proves the BOD have absolutely no empathy towards existing long term holders that have lost so much! Despite this I remember the last open offer in 2013 where there was a 600% ish rise over the next 6-8 months, I agree it was in a very different oil price environment but this dog can evolve if they cut corporate costs, defer all salaries and get partners in to advance the assets which on paper are good, especially Cameroon. I will be buying in heavy because I love risk, sounds insane but I have a weird feeling about the series of events that have taken place.

Does interest me, we need to get this board out ASAP though!

You may be right there Led.... if so I would have to apologise! I 10000% agree with you regarding Namibia, it was absolutely foolish to risk the large amount of capital during the drilling when they could have got more partners to do it, especially in the strong oil price environment. The BOD have no empathy towards shareholders and they need to be ousted by force imho, I still get that gut feeling about the EGM soonish!

I read that Led, but It stated below 5%, no mention of 3% anywhere which would have meant they had sold and went below the notifiable figure. However they would have had to state how many shares they had remaining after they had sold as between 4-5% is still above the 3% required for notification, and no figures are mentioned in the announcement which leads me to believe they have for some reason calculated it based on the future enlarged shareholding which seems illogical. However if you dilute their holding it is between 4-5% which makes sense to me. But wtfdik!

What was the situation after them triggering?.... it doesnt mention it because none were sold! its impossible that they did

I agree the directors have been shocking and have no empathy for holders who have lost so much, I'm accumulating shares to use as leverage once the EGM is called, and it will be in my humble opinion. Thats how I'm playing this one in all honesty ;)

And you are all foolish for thinking they have sold.... they haven't sold any! The dilution resulted in a decrease in their percentage holding which is why they notified.

Below 5% actually.

The board needs to be ousted thats for sure!

Im banking on an EGM in the not so distant future, watch this space!

Still on just under $1m per year?

can't believe i turned my nose to this at 1p this morning... ouch!

Will be because of Horse Hill, news is long overdue!!!!

They need cash thats what it comes down to!

;) If the meet up is in or around London I should be able to make it, I remember seeing Camden on here was that a joke or a serious post regarding the location?

If you do I will apologise and take my hat off to you!

Lol your riddle made me chuckle :) I have close friends who work in S&M if need be

If you temporarily get level 2, pop me a private message fiftythrifty and if you are setting up an investor action group or something similar I am more then happy to get involved.

You have some very valid point fiftythrifty, the redirecting of cash to GMOW needs some explaining from the BOD to say the least! I still think on a fundamental basis our investment in HH has intrinsic value, but we do need new leadership to get things moving as the current BOD are just happy to sit things out.

fiftythrifty - I just got a tad annoyed with NoLimits who has ulterior motives tis all!