Member Info for SeaTank8300

Nah Neal is the founder who's been ousted - he made money at IPO and in secondary share sale, so his buying lately at 40p can be discounted as recycling his earlier winnings, IMO. Anyway, he and Oliver Rigby screwed this up, so they're not part of the solution.

Borjn the new CEO who came in to clean up the mess has been a big buyer though. Basically everyone who's actually operationally committed have been buying.

Yup agree, an easy rise to 50p again once the covenant waiver is agreed, which it will be.

From 50p to 100p will be harder. It will require reduced use of consultants and an uptick in DX project activity which is mostly delivered by permanent constultants who are currently underutilised. One key in all of this is reduced staff turnover. I touched base with IR and understand that staff turnover has fallen from circa 30% at the worst point to circa 22% currently - still too high and should be close to 15%, but high teens is foreseen in the not too distant future, so it's going the right direction.

They can do it.

As I have pointed out, at least a dozen key execs in actual delivery are 150% engaged in fixing the current issues because they own a tonne of stock and are emotionally tied to their businesses and staff.

Actually i need this to get back to 100-120p to break even - most likely!

Sadly not, I lost around 90% on the bulk of my ownership (!), so I need to get back to around 150p to break even. I'll be happy when it breaks 100p to be frank, which it will do. It might take a couple of years to get there. Those getting in now are really smart, they'll make multiples IMO.

That's a +20% move in two trading days - locals are making moves, a v good sign

Hi Trek, I believe this action against Shell has been in the works for a long while already, nothing to do with SEPL and well flagged

Ah I see them now

Octopus has made money from VC stage so they're sitting on nice profits already

Great to see these guys and others leave the shareholder register

I've raised my holding by 50% today - i'm sitting on a massive loss as a long term holder but there's money to be made here so I must average down without emotion

I see Jarvis has been selling. I don't see a move in Octopus.

There has been big buying through Global Prime Partners.

I do now see that Ben and Fiona Ward were buying after the profit warning, back in October - they are internal bench strength and their trades aren't reported under PDMR. These people know the situation better than anyone.

Good to see these institutional sellers being absorbed and the overhang being cleared, most likely by retail, private wealth and small cap VCs/PEs. Whoever is buying, they are buying in reasonable quantity. A solid foundation is being laid from which we can recover.

Thank goodness the broad management bench at TPX (not just the CFO and CEO) are big shareholders. They are locked in, financially and emotionally, and won't leave. These are the people whom the staff look up to, not the CEO or CFO. These are the people that will turn the business around. Their lock-in, namely prior payment for their businesses in shares that are locked up, is fundamental to this turnaround. Were this a hollow and soulless corporate entity, I'd be very worried about a death spiral with an unravelling of the staff/consultant base. The depth of bench strength ownership and engagement here makes all the difference.

No way CFO would be buying more shares if waiver on covenants weren't forthcoming - just pointing out the obvious.

This major shareholders list doesn't include at least 10 senior execs who previously owned companies acquired by TPX and have around £10 million invested.

ignore the 0.09%, he actually owns 0.55% now

STEVE WINTERS PDMRs:

4 OCT 80,000 36.0p
7 OCT 150,000 41.0p
5 DEC 50,000 53.0p
2 FEB 220,000 21.34p

0.09%

Come on, the CFO owns 500,000 shares now, almost all bought at a price level double or more where we are today. It's in RNS's. He has invested >£200,000 of his own hard earned cash to date, and he only joined the company a year ago, took CFO position four months ago. He's showing a great deal of faith with this additional £46k investment.

Truth is, if retail bought this into the teens pence again, that's where the next bridge financing will come at, if it's necessary at all, and retail investors won't be diluted into annihilation. The short term outcome is largely up to us.

Art will likely make a video statement today - now that he has broken cover to answer some emails, a video has to be next for proper dissemination of his view.

The company isn't forced into bankruptcy until end March earliest by the sound of it, so he still has options to pursue.

Where the share price goes from here is anyone's guess.

I'm sending a screenshot to Art and the company. Anyone have Art's email?

Rather than picket for Art's removal, we need COPL to make a further RNS providing greater transparency on the various funding options the company has alongside progress made to date (substantiated in some meaningful way).

If there has indeed been progress on JV talks and reserve based lending, the market needs more transparency about the progress, timing and likely outcome of these negotiations, otherwise we will continue to have a disorderly market in the share that is open to ABUSE.

Presumably someone from COPL is reading this board. Please LIKE this post to signal the importance of this to them.

Free float in London must be close to making eligibility for index inclusion, surely. I'd love to know the figure.