Member Info for Smellyben

A big holder is selling - no idea why but worrying

Littlened - selling seems to be continuing - who died ?

Someone was selling today again - which i dont myself understand given the positive RNS - but maybe thats why I'm poor !!!

be good to get Malcys take on it tomorrow hopefully

Where did they confirm that ? do you have a link ?

My understanding is that you have to announce if the consideration is over 25% of the market cap - in SDX that would be around £2m ish - the fact they say it is significantly more means IMO somewhere in the £4-5m area but each to there own judgement

While the interim numbers themselves won't be good obviously any hint of positivity post period end such as on production gas prices refinancing could sent this flying

111 and we are in the middle of summer !!! personally I've fixed my prices suggest u do too - 300p coming soon

I haven't posted for a while and will do no more - childish immature simplistic posts are irritating- so.e people thought revenue went up 1200% not realising it was 2 weeks revenue versus 52 weeks - idiots the lots of them I'm done going to better boards- still invested in gst as a punt but by god idiots abound - goodbye

Hi all I'm new to this share and have done a bit of basic research but not full dd - oes anyone know what happensworst case iif the company breaks the covenants at end of Sept- obviouslyI understand they can call in the loan and if we cant repay they can force certain things but how long does the company have to refinance - a month, 3 months ? Timing could be very important as I suspect gas prices will go over 300p by december and obviously more attractive to a bank

Looks lime I timed my buy well - if the aussies go on strike the gas price will rocket and with one leap we will be free !!!!!!

50% higher than just a couple of weeks ago and winter fast approaching - if they can escape the upcoming covenant issue could be multi bags from here - stuck in 15k this am

That the cumulative tax losses iog have is greater than their market cap ? If so surely its a no brainer for a profitable oil and gas company to buy them just for that without thinking about the assets, revenues, expertise, licenses etc etc ?

Just glad it's not .666 !!!!!

Just a tree shake

The rate was agreed at 8% a year or so ago but since then obviously rates around the world have went up 5 or 6 % so I can't see Kefi getting the money unless they agree atbleast 12%, maybe a bit more given the risk - that hits the NPV quite severely in my view.

I dont think it's a conspiracy as such just 2 or 3 greedy individuals running roughshod over regular investors to squeeze all the money out of the company - they got 117m and now the company is around 1 million they cam screw ordinary investlrs because they have no defence. - unless they themselves are screwed!!!

I'm considering putting 150-200k in - big big big risk as it is over 25 per cent of my portfolio but would enable me to block what I think is a theft ( assuming at least a few others vote against !) Could be very lucrative or a disaster !

Jeez what shysters - hope you take them to the cleaners and back

Some good porky but my point isn't that the company would be better off - with the raise the company ( and directors) will continue but for minority shareholders it is probably better for the company to go bust and distribute whatever can be salvaged. How shareholders will feel when directors destroy 99% of their cash and then take massive salaries and quadruple their money in share options etc - I agree AIM is the wild West I have been investing for 30 years but this is the most egregious share issue that I have been aware of - if there are other examples itbwould be good to hear to see how they played out

If you believe the directors are trying to steal the company there are legal remedies

Statutory claims

Shareholders may also be entitled to bring a claim for unfair prejudice or a derivative action, purely by virtue of being a shareholder and irrespective of the size of their shareholding.

Unfair prejudice

Unfair prejudice arises where the affairs of a company prejudice the members generally or a specific group and is designed to protect minority shareholders. If the shareholders feel they have been unfairly treated, the minority shareholders can bring an unfair prejudice claim seeking relief against the acts of the controlling directors/shareholders of the company.

If successful, the court has a wide range of powers which include:

to regulate the conduct of the company’s affairs;

to require the company to refrain from an act, or to carry out an act that it has omitted to do; or

to require the shareholders (or the company) to purchase the shares of other shareholders.

Derivative action

A derivative action claim permits the shareholders to commence legal proceedings on behalf of the company in an attempt to remedy a wrong committed by the directors/shareholders – for example, as a result of negligence, default, breach of duty or breach of trust. Such claims can only be pursued if certain requirements are fulfilled, and the court has wide discretion to examine the merits of the claim and to determine whether or not a derivative claim is appropriate in the given circumstances.

The nuclear option

If there has been a fundamental and irreparable breakdown in the relationship between the shareholders and the company’s directors, any shareholder who has held their shares for at least 6 out of the last 18 months may present a winding-up petition against the company, which provides that the company should be wound up by the court if “the court is of the opinion that it is just and equitable”. Typically, the court will only make an order to wind up the company if no other remedies are available.

Before any action is taken or a petition is issued to the court, we would always advise that shareholders obtain legal advice beforehand if you are a shareholder who may feel that one of the above options is necessary at this time.