Member Info for Samthespaniel

What a mixed bunch of muppets today. Some buying £3 worth of shares. What is that all about? Someone bed and breakfasting a bunch of shares. Understand that. Others cashing in on an apparent share rise - following other sheep? This is a speculative share which has had a rough passage for over a year but may have weathered the storm. You may make a few bob gambling on ups and downs but the real money is likely to be made if the next RNS shows that the company is making good headway on selling timber now that there are signs of interest rates peaking and inflation coming down. Some mention of progress with carbon credits would be encouraging. I've been a hold for about 9 months and an optimist particularly as the board have shown determination in keeping the company afloat, albeit at a cost to existing investors by adding to the share pool. Patience is a virtue with this one. At the moment it is the market makers who must be rubbing their hands with the number of deals taking place.

Could be some wise punters with money to spare, having seen the share price dropping over the past couple of weeks for no apparent reason.

Who knows? The simple fact is that one year is a long time for a speculative share. You are not going to make your fortune with 20,000 shares unless you are exceptionally lucky and can wait a number of years for all the acreage to grow or be bought for their carbon credit value - unless Gabon is part of a war.

By Xmas 2023 those people with large numbers of shares (or warrants) may see the green shoots of a profitable business emerging and the share price rise enough to cover their losses. They then have to decide whether to sell some or all of their holding.

I have asked the company for the prospective date of the next AGM today.

There was a GM on 16 June 2023 but not an AGM as stated on the tab.

The last formal AGM was in May 2022 as far as I can see. A question to the company seems appropriate in view of the statement in the last RNS.

This ship is off the mudbank - at last

CHATTY IS NEARLY RIGHT

On the internet:-

When does the obligation under to make a general offer to all the shareholders of a company arise?

Rule 9 of the Takeover Code requires a general offer to be made to the holders of any class of equity share capital and also to the holders of any other class of transferable securities carrying voting rights in a company which is subject to the Takeover Code (unless the Takover Panel consents otherwise) when:

Any person acquires an interest in shares which, together with shares in which persons acting in concert with that person are interested, carry 30% or more of the voting rights of the company; or

Any person, together with persons acting in concert with that person, is interested in shares which carry between 30% and 50% of the voting rights of such a company, and such person, or that person’s concert parties, acquires an interest in any other shares which increases the percentage of shares carrying voting rights in which that person is interested.

The important words are "up to"

What is the betting that the Gabon government takes a 34.99% stake, having bought at rock bottom price, then let WBI turn the company into a highly profitable undertaking at which point the Gabon government pull the plug. No fools these people.

Agree. Why did 10m shares get unloaded early this morning after such a positive RNS?

For 2021 and 2022 the results have been announced on a thursday. The results were promised to be announced in September 2023. The last thursday in September is tomorrow so we may get an RNS tomorrow.

It should also tell us more about the company financial situation and progress following the coup. Whether it will we shall see. Any failure to be open and honest will send the shares tumbling. Any positive news will send the shares upwards. Clarity on the carbon credits situation would be helpful. Whilst that is a long-term play any progress would be of interest to anyone proposing to keep these shares long-term.

The last day of September to report is friday so this could be an alternative reporting day.

A financial statement about H1 is due in a few days. See RNS. Whether Q3 comes out in October is unlikely in my opinion.

It amazes me that there are so many piddling little trades today, some under £5. Not one over £1,000. Any explanation for so many wee trades?

Did you notice that Paul Dolan picked up 6m shares when Henry Turcan sold his full holding? Turcan may have lost a chunk unless the shares came free.

Announced Traded Action Notifier Price Currency Amount Holding

29-Jun-23 28-Jun-23 Buy Paul Tiernan Dolan 0.70 GBX 1,000,000 81,400,032

29-Jun-23 28-Jun-23 Buy Paul Tiernan Dolan 0.77 GBX 1,000,000 81,400,032

29-Jun-23 28-Jun-23 Buy Paul Tiernan Dolan 0.72 GBX 4,000,000 81,400,032

03-May-22 29-Apr-22 Sell Henry Turcan 6.00 GBX 10,653,157 -

Also that there has not been a negative RNS since the last RNS which promised to keep us informed if there was.

With the next report due his month and the situation in Gabon calm it would suggest that we should be hearing good news.

"The Gabon coup which was executed on the 30th of August, 2023, has finally gotten a nod of approval from a major financial institution. The African Finance Corporation, a multilateral financial institution, created by African sovereign states, has noted that the coup so far has been peaceful and it has been business as usual in the central African nation".

I'm surprised that there has not been a rush for shares. The next Financial statement should clarify the future.

The latest RNS said this before the coup:-

The Company will be providing a full operational update as part of H1 2023 Interim Accounts which are due to be published in September.

Nguema (Army head of state) said in a televised address on Friday evening that the junta would proceed "quickly but surely" but that it would avoid elections that "repeat the same mistakes" by keeping the same people in power.

So, no immediate elections.

However, the border is being reopened to maintain trade. The pic on Reuters appeared to show loaded timber trucks ready to cross the border.

Difficult to read whether this was a 'good' coup with the Army determined to oust a President fiddling the elections or a bad coup where they wanted power for themselves.

As stated here, the third player is the opposition party.

Gabon coup council to swear in its leader as president

African Union suspends Gabon’s membership after General Brice Oligui Nguema and followers threw out re-elected president Ali Bongo

Agence France-Presse in Nairobi and Libreville

Fri 1 Sep 2023 00.58 BST

The general who overthrew Gabon’s 55-year Bongo dynasty will be sworn in on Monday as transitional president, the army has said, while the African Union’s peace and security council has decided to “immediately suspend” Gabon after the military coup this week.

Gabon’s opposition, meanwhile, has called for its candidate to be recognised as the winner of weekend elections.

The swearing in of General Brice Oligui Nguema would take place at the constitutional court, said a spokesman for the junta, providing an indication of how the “committee for the transition and restoration of institutions” will operate.

The military wanted to reassure donors it would “respect all commitments” at home and abroad and “phase in” transitional institutions, Colonel Ulrich Manfoumbi Manfoumbi, spokesman for the new regime, said on state television.

That suggests a positive attitude by the military with business as usual.

Take a look at 'chatty's' previous posts. A useless contributor to filter out!

See today's RNS

"The Company will be providing a full operational update as part of H1 2023 Interim Accounts which are due to be published in September."

BBC News item:-

The political situation in Gabon is "under control" following an attempted military coup, a spokesman for the government has said.

GREAT BUYING OPPORTUNITY

All five of the rebels who tried to take charge have now been arrested by the authorities.

The junior officers claimed they seized power "to restore democracy" in oil-rich Gabon, where the ailing leader's family has ruled for 50 years.

Tanks and armoured vehicles could be seen in the capital Libreville.

One of the rebels was on the run for a brief period, before being found hiding under a bed, reports Radio France Internationale.

"The situation is calm. The gendarmes who are often stationed there have taken control of the entire area around the radio and TV headquarters, so everything is back to normal", said Guy-Bertrand Mapangou. a government spokesman.