Member Info for skittish

AAA up 11% today so far - 5.15p (5.1p - 5.2p), now up 77% since the MESH/Asimilar deal was announced.

I guess that is a thumbs up.

Hopefully ASLR will be trading again towards the end of the month and we should know a little more about the MESH/Sentiance deal then.

Clearly the Nigerians are all loaded up now and they can let this go!

OPL226 RNS due soon.

As I suggested at lunchtime it was the licence holding matters up.

The parties legals are all completed.

Hopefully, if that is indeed a formality, the extension will be confirmed very soon.

It seems to me that the deal of 4th June 2020 is really conditional on two points -

1. Legal documentation being completed

2. The licence at OPL226 being extended

Those two matters complete the deal.

It seems to me that the legal documentation should be fairly straightforward, barring unforeseen circumstances. Both sets of lawyers will be experts and such agreements will have been completed may times before. Such matters are within the control of the parties, COPL and Essar.

The licence could be more problematic. The parties have been in conflict for many years and as a result have not actually drilled on the block. Maybe the Nigerians have been none too impressed by such behaviour, and at the least require concrete assurances that such is in the past and would not continue if an extension were granted.

Perhaps explains partly why AM has been so effusive in his recent RNS's concerning their relationship and why the parties have been unable to complete the deal and yet still said only two weeks ago regarding 4th August " we both hope this will be wrapped up earlier than that."

"Hope" suggests that neither is in complete control of the present situation.

Then look at the trades going through in the days prior to 4th June 2020. Although the price was much lower than today there were some unusually large trades in the few days prior to the "game changing" announcement.

Similar situation over the last 10 days or so, with a number of unusually large trades.

Maybe there is a requirement for all the parties (both front and back of house) in the present situation to be perfectly aligned prior to things moving forwards.

The large trades suggests that the stars are aligning in a perfect manner.

So I'm not overly bothered with the timing - a few days or even weeks - here and there.

Key date is end September.

Chillaxed til then.

Of course, could be bumper news tomorrow, if all the stars are perfectly placed.

Out of suspension shortly after MESH agm!

" we've been issued shares in unlisted MESH"

should be

"offered shares in unlisted MESH"

Barely any commentary on any boards relating to this saga.

Odd.

Oh, I'm sure in reality COVID isn't an adequate reason for a 6 month extension - but what the heck, they've now got until 14-2-2021 to complete the deal, and in the interim they remain listed.

Which is more than MESH are, and we've been issued shares in unlisted MESH.

No comment as yet as to whether such shares are considered adequate by the ASLR board - may be following that that 6 month extension MESH shares look perhaps less appealing than they did yesterday, if ever they looked appealing at all.

Can't help but feel that ASLR would be the better vehicle to use in order to RTO, although it appears it may be RB who has access to most of the cash.

ASLR keeping mum for now, and AAA shares are still up 54% on when the MESH/Sentiance deal was announced. And many hundreds of per cent from when AAA became involved with ASLR.

I await further developments with interest.

Indeed - but according to Alexa the brands continue to do quite well, most fairly flat, but Jacamo showing continued and impressive strength.

https://www.alexa.com/siteinfo/jacamo.co.uk#section_traffic

Still very good value share wise - I suspect we may not get news until October, but then the figures may surprise to the upside, and with maybe a larger than expected reduction in debt.

Here's hoping for a slightly longer, albeit unanticipated, opportunity to top up.

No one interested in the recent rise?

"He / She / It / HeShe has no idea"

He/She/It - knows exactly what he/she/ it is doing - and that is disrupting the thread and getting everyone in a tizz.

Anyone noticed that he/she/it has managed to post almost every hour during the 24 hour day.

Think about that.

Purely disruptive tactics straight out of the KGB/CIA playbook.

This will be a winning share.

Mr Big may have bought on that dip - we'll find out later.

Nigeria DPR portal updated -

https://marginal.dpr.gov.ng/Account/Login

Can't find any list of pre qualified applicants, so maybe it is all a bit secret.

Of course we may not have applied to be pre qualified, but would be surprised if we hadn't - back yard, first offering in 17 years, juicy prospects etc.

CC - it was the loan repayment

16 - Acquisition or disposition under a prospectus exemption $213,412.31

It is late that should be 411,326,189 for debt.

Less CEO 41,845,550 = 369,480,639

So around half of the remaining debt shares were taken by the mystery buyer in the 4 mega large transactions totalling 152,551,460.

Still any overhang should be well cleared.

He has swapped the debt owed (plus probably interest) for shares -

16 - Acquisition or disposition under a prospectus exemption $213,412.31

Number or value acquired or disposed of: +41,845,550

Would appear to be part of the 114, 326,189 issued for debt to various parties.

Deducting CEO's 41M from the 114M gives 72,480,639 for the rest of the debt shares.

Presumably a large chunk, if not all went towards satisfying the 152,551,460 + bought by our mystery investor today.

Suspect any overhang has more than cleared today, and there may be a severe shortage in the morning.

But if there is one thing I have learned about shares it is always to expect the unexpected.

Roll on 8.00am!

Kip time.

Could even be Essar themselves, of course.

Do the deal and then buy up the company.

Only going one way now.

If one takes the four mega massive buys from earlier today then (assuming they were buys - as suggested by price action) then the total cost was £576,180, the shares purchased amounted to 152,551,460 and this is 3.16% of the entire issued share capital.

And that is just counting the "Big Four" - obviously smaller amounts may have been bought.

It does however suggest a significant commitment, and also a big rush to get in quick.

If an RNS does drop tomorrow then such large trades could raise an eyebrow or two, and normally one would not wish to attract attention.

Unless of course the ultimate purchaser was out of the jurisdiction, of course.

Maybe sub-Sahara for example.

Just thinking out loud......

Not expecting a TR1.

Someone just paid £112K for just under 3% of the company.

Must be "confident"

Now £140k's worth of commitment.

Doesn't look like someone is just punting.

£113K buy.

Serious commitment.