Member Info for slowlyslowly

>> do we think people are trying to but are getting NTs instead?

I tried to dummy-buy and there's nothing to be had, even just 100,000.

I tried to dummy-sell, and I could offload the lot at 0.026 GBX.

... which is odd. You'd expect them to pass the request on to Peterhouse (combined with the requests of other clients of the same platform / nominee), and then to wait for Friday to hear back what they had been given.

That would be one heck of a coincidence - it would mean that they raised exactly the number of shares they wanted, so Basic + Extended applications = (to the nearest share) the target for the issue.

No, it says that "applications for 603,984,429 Open Offer Shares under the Excess Application Facility" was included int the offer shares. It does not say that this was also the number *requested*.

You'll find out on Friday.

We have been told how many excess shares were given out. We have not been told how many were applied for.

+1

We don't know how many shares were applied for in total, including everyone's excess.

But to have 88.6% take up of the basic entitlement is very high indeed. It means almost everyone who was eligible applied for all they could (and more - but we can't see how much more).

I had a quick look back at the last Open Offer I followed, and the Basic Entitlement made up 79% of the total shares issued. I thought that was high - this is much higher, which is (IMO) a vote of confidence from existing holders.

LOL Right on cue!

I'm pretty sure that the new company registered as ADM Energy won't become the one we own. They need to change the name of MX Oil Plc to ADM Energy Ltd. We're going to have the existing company given a new name. So your second guess was spot on - a new company gets registered to bag the name, and ADM Energy will be renamed to something else (to free up the name) very shortly before MX Oil Plc takes the name of ADM Energy.

You'll have noticed that Shaun is also the new company secretary of MX Oil.

Correct - that's if the RTO fails and so they wish to be reclassified as an "investing company".

I think there's one detail from the RNS that is yet to be picked up on in this BB.

"The Directors have no present intention of exercising this authority, save for the issue of up to 99 ordinary shares in connection with the consolidation as described above and the grant of share options over up to 10% of the Company's issued share capital to directors and senior management as described below."

Now, it's relatively common to have a resolution to authorise the directors to allot shares, with the authority expiring about a year later.

But I don't recall similar news releases being followed by a statement that there are presently no plans to use this authority. That means two things:

1. This won't be followed by an immediately dilutionary placing. They have deliberately put our minds at rest on that front.
2. The company currently thinks it has access to the funds it needs for the developments it has planned.

If the second of those ties in to the connection we now have with the Sheikh's private office, then that's a very good sign.

Not to worry: I never mind answering questions that are easy! I can do those ones, after all. And whilst you are eager, others will find this chat thread and not know what's been going on at all, so it's worth making sure there are a few posts every now and then that recap the actual facts on the table. They're a nice change from the blatant ramp / deramp opinion pieces.

It's in this morning's RNS (and was in the one a few weeks back when the consolidation was first announced): It'll be 100:1.

Last time I took part in an Open Offer with excess entitlement, it took 6 working days to have the cash to cover my unsuccessful excess returned to me. Different broker running the Offer, and different platform from you, so YMMV.

They say they'd aggregate your 9 with everyone else's fractional shares, sell on the open market, and then return the value raised from your 9 to you as a cash payment. ... Unless you are owed less than £3, in which case it costs more to do that than the £3, so they pocket the £3

They also say that if your shares are not held directly but by a broker or nominee, they only do this with the total shares held by that nominee. So, unless you have a large holding of your own, this is actually a question to ask of the platform through which you own the shares. I suspect you lose the fractional amount.

@jandtw1 - I've checked Google cache, and that text was on the home page on 17/05.

Changed how? Just layout, or significant new content?

Relax. They have to disclose past liquidations

1130

Just wishing Raymond all the very best for his birthday celebrations today.

A great summary.

But where did you get this bit from?

"Antos Glogowski ... took part in the subsequent placing to keep it so."

I missed news of him topping up to maintain his 14% holding.

You're probably right. That's what'll happen until news hits. But that begs two questions.

1. When news hits, will it then leap up or down?
2. Whichever your answer to 1, if you're planning to trade the volatility between now and news landing, can you take the risk that you'll be in/out (delete as appropriate) at the moment news lands

Clearly different people will answer 1 differently. But it seems to me all should agree that this is very risky to trade, not because of the risk of misjudging the highs and lows for now, but because of the risk of being caught either in or out when the news comes through.

Either by, then hold, or sell, and then stay away.