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Oh petro come on this is not a pump and dump matey it’s to do with a tiny available free float and a silly spread being marked up by the MM. Hop aboard and enjoy the ride here. I did say it was highly likely to make some movement and I expect another TR1 from last few days strangulation hold to pop up soon! IMHO DYOR
the key point is the debt burden led us here apparently officially however the debt burden has been revealed as a lot less millions from the in excess of $135 million us dollars (other statement in rns says $130 million) then in same rns says 135 million secured obligations to circa 81 million us dollars including secured and all unsecured in the creditor list submitted to court. the judge has to see the debt burden has been overstated significantly. on top of this he should be asking what was the figure used to value the assets in order for the company to state the debt was in excess of the value of our assets? nothing adds up. i see from tr affidavit which simply deals with pk appointment that he very much is making excuses that the financial department was sp****…what after rg suddenly left well he’s the chairman and has presided in this capacity in a very short time over the company’s demise - does this look like a good advert for him?. if you’re chairman of the company basic info is knowing the value of your debt versus assets held. he made several statements to the markets and to shareholders which are now not adding up. either the creditor list submitted is incorrect or the figures we were given via rns are? which is it copl? in the 10/1 rns to shareholders they bang on about the reprice of the funding from anavio downwards from 4 to 2.6 and mention the depreciation of the share price, now they can see what was going on in terms of shorting from same people at those dates. now critical shorting info in public domain, any logical person would question the sp demise at that time and hopefully this includes the judge as the company themselves have not made any statements or reference to it, which is at best shameful! imho dyor
Same story each day now can sell my entire holding albeit ridiculously cheap but can’t buy the same amount MM not prepared to give a live quote. So surely the logic is that if MM had Kibo shares to sell us they wouldn’t be wanting more.I think Kibo have knocked it on the head. If MM want volume and liquidity here then they will of course need to search higher up the tree to find anyone willing to let go they’ll need at least 55-65 mark to find this. Over to you chaps MM? IMHO DYOR
Fantastic website thanks to all involved compiling this and bringing all together! It reads very well! RE Ryder Scott report can whoever posted link here do so again and we will all try and grab it?I didn’t see it? Ryder Scott is a company we should work with and get on side with. IMHO DYOR
Useful information IMHO
Email addresses at the end of the service list
https://www.ksvadvisory.com/docs/default-source/insolvency-case-documents/canadian-overseas-petroleum/ccaa-proceedings/service-list/service-list-as-at-march-13-2024.pdf?sfvrsn=4d80e73e_1
Haven’t read it yet just getting my bucket of popcorn…
Here it is on KSV website how did I miss this?
https://www.ksvadvisory.com/docs/default-source/insolvency-case-documents/canadian-overseas-petroleum/ccaa-proceedings/motion-materials/copl---affidavit-of-thomas-richardson-affirmed-march-14-2024.pdf?sfvrsn=906c18ae_7
IMHO DYOR
Offler you do realise the share price fluctuates throughout the day right? We had one large sell equally now there’s more liquidity to buy larger volumes which wasn’t even producing a live quote previously! Your determination for the SP to only go down says you’re a scheming betting free app short ar*e! I will happily buy more here so you keep squawking! IMHO DYOR
Neil why are you being rude to investors here? In fact why are you circling every day on here asking for real-time sell prices from us so you can work out the real spread…the price to buy isn’t going back to where you want it which is lower from here. You may not like it but you need to learn to accept it, if you want to get a piece of the action here! No more help from any here to aid you from actual holders! IMHO DYOR
Sounds like you Cas are on a paltry spreadbet…MM will take my entire holding from my hands you chaps keep selling a handful of shares on your free apps at a random low price, that won’t have any effect whatsoever now! Value of assets =circa 89p per share when sale concludes could go into pounds…and I don’t smoke! My body is a temple! IMHO DYOR
What’s the implications then fines for such late disclosures of positions? Absolutely disgusting and completely disgraceful well in finding the actual total short info the company having had it emailed to them in all its glory in black and white, couldn’t deny they didn’t know Anavios historical positions. This was the torch that was switched on to see into all the murky corners! So what happens now? Will FCA investigate? If not, why not? Also how was it 7th March what’s the reason behind that date as it’s 11 days delayed still further! IMHO DYOR
Well good start to the week here with SP looking more buoyant and stronger 1.60 if you want any! NT for even medium purchases bodes well indeed for a deserving tick up after being made to sit in the lows for several weeks now! IMHO DYOR
Currently 4.70 for tiny amounts then off into the land of NT where it comes out on the buy side will be heading way over 5 MM making the spread wide but will not be attracting sellers including me! Give it up MM let it do its thing which is reaching a price into 7’s as a good platform today for transformative news! IMHO DYOR
Excellent letter to PK Vlad let’s all keep at it. They are taking us for fools and I’m asking why PK is happy to take all of this at face value from company when HE is the CEO of this company right here, right now. He has fiduciary duties! As also the CRO he can’t dispense with those duties or just get the CRO job done! He can’t avoid answering questions or indeed giving explanations for what has been written in RNS communications released to market!
I would also like to thank the poster JBTHISTLE who gave us the short tracker info which is invaluable in demonstrating the reality of what was being done and now everyone also has it including him and although I sent it to the Monitor he replied to me that he would forward it to them which KSV updated court report states was done. So they’re all up to speed now! JBTHISTLE so immense thanks indeed to you Sir! IMHO DYOR
Stas no I wasn’t saying it was I was being diplomatic but I have come to same conclusion. How were they covering if the placing hadn’t gone ahead each time ?…. regardless wouldn’t this be deemed market manipulation of the company share price reference the scale of it and did they benefit etc (again being diplomatic) it definitely can’t escape being perused surely by authorities. You all need to copy the shorting info on short tracker to FCA web form market anbuse and make a noise then they can decide! Thanks to the original poster who alerted shareholders with the actual info of positions as this wasn’t an obvious accessible info to all re exemption list we assumed still re FCA short reports but it’s on this website
https://shorttracker.co.uk/manager/anavio-capital-partners-llp/
IMHO DYOR
Re Micky’s post below - thanks for highlighting this updated section
15 Mar 2024 22:43
Https://www.ksvadvisory.com/docs/default-source/insolvency-case-documents/canadian-overseas-petroleum/ccaa-proceedings/reports/copl---first-report-of-the-monitor---final.pdf?sfvrsn=892b42e9_3
“Shareholder Matters
1. On March 14, 2024, the CRO provided the Monitor with copies of various email correspondence received from shareholders who expressed concerns regarding, among other things: (i) the value of the assets and the sale of same; (ii) the quantum of the outstanding debt; and (iii) Anavio Capital Partners LLP’s historic role in potential short trades of the COPL stock.
2. The Monitor was subsequently copied on email correspondence from a shareholder raising concerns about short trades of the COPL stock.
3. The Monitor understands that the CRO has responded to the email correspondence received. The Monitor’s view is that the SISP will determine the value of the COPL Group.”
The point of me including shorting info to him was to point out that this had cause and effect on the share price and as interim CEO making an affidavit why wasn’t it included? The point also of highlighting it to him and the company and others was then they couldn’t deny knowledge of it. I think as interim CEO he still has fiduciary duties and therefore he should be asking other board members if they were aware of it and the key person being TR. I don’t think it can be dismissed in one liner as it did have a huge impact on the share price decline. It also again begs the question of the exemption of voting re related party which looks even poorer decision if you marry it up with the shorting by Anavio we would’ve voted NO! So did they really not know that company was being shorted by the ‘cornerstone’ funder? Also, the reason the FCA and Canadian authorities need to look at this activity is to see HOW exactly was it conducted and achieved? If they shorted up to 49% of the company by 12th Jan, then if the funding agreement had somehow fallen through how would they have covered the position in COPL from a legal point of view how does this look/work etc would they be exposed eg ? Tie this in to the 12th Jan RNS from TR and this should add weight for them to want to at least look at the audit trail on the shorting activity then and the repriced placing 6th October with similar pattern. It may be completely legal but they should look and should be obliged to look especially in the current circumstances & that they have been fined in Norway for shorting activities.
PK isn’t just the CRO currently, he’s paid CEO & he should be satisfying himself he has all the information & that his affidavit reflects what was going on in the market at this time to the detriment of our share price & that decisions by the BOD contributed to the share price decline, not that we lost the JV partner as the major reason added 40 % decline it was being hammered by s
Shouston re stalking horse bid info on court info doc APPENDIX B this is lists of other companies as examples of recent SHBs and fees as comparison evidence and the notes refer to those companies above. It is titled ‘Stalking Horse Bid fee analysis’ Current as at December 27th 2023 so presume this is the latest comparable info they can use. It doesn’t refer to us.
With reference to another section,
5.3 BID PROTECTIONS re the $500,000 US apportion for the SHB it says this represents 0.63% of the purchase price so give or take currency exchanges that’s circa the entire debt of around 80 MILLION US DOLLARS secured and unsecured so if this is the level of the SHB actual bids should be higher. It won’t inc the 1.5 million DIP agreed as working capital to last until auction. Obviously our oil fields are worth in excess of the SHB ‘ purchase price’ and any other bidder will know that they’re still getting a bargain paying eg $135 million! IMHO DYOR
Yankee should we also not be sending emails with the shorting info to TR too and challenge him how this sits/looks with the 12th Jan speeding ticket for eg RNS? What’s his direct COPL email anyone ? Surely if enough people ask he can’t simply ignore that would look bad - I would bcc copy in KSV into all emails! Also get those reports in via web form re shorting activity to FCA. There’s actually a graph on short tracker sites of the Anavio shorting activity which looks even more damaging when you can see it visually with the key dates eg repriced placing from Sep to Oct 23! IMHO DYOR