Member Info for StarBright

Given that the ask was 2.3p, we knew that already Shirty...

So what? What is the point of your post?

Actually Silverlight, the opposite is true. If you hold warrrants you only exercise them if:

(a) they are close to expiry (not the case here) and have some value, or
(b) they have some value that you want to realise now, ie you want to sell because you expect the share price to fall

If expiry is not near and you think the price will rise, there is no logical reason to exercise. You just sit tight and wait for the price to hit your target, and then exercise and sell immediately.

Sorry if this isn’t what you want to hear..!

No. The issue of the new shares won't provide any reason for the company not to meet its disclosure obligations.

Thank you Penguin for pointing me to the Admission Doc. It says:

"On 15 June 2018, the Company granted to WH Ireland warrants to subscribe for up to 0.5% of the placing shares (as defined in the WH Ireland Placing Agreement) (the “WH Ireland Warrant Instrument”). Under the WH Ireland Warrant Instrument WH Ireland has been granted warrants to subscribe for 30,555,555 Ordinary Shares at an exercise price of 0.9 pence which warrants are exercisable from the date that the placing shares (under the WH Ireland Placing Agreement) are admitted to AIM until the earlier of the date that no further subscription rights are exercisable or a date falling three years from the date of Admission of the placing shares."

So I'll correct my earlier post by observing that the warrants were granted quite recently, to WH Ireland as (part?) payment for running the placement made earlier this summer.

This is all very normal in the life of an AIM company...

The warrants were granted ages ago, probably as payment for something-or-other when the company had no cash. From the holders point of view they work like an option - you have the right (but no obligation) to buy a certain number of shares at a set price 0.9p in this case, at any point before a certain date is reached. From the company's point of view they work a little differently as the holder receives newly created shares when the warrant is exercised. In this case, the company has received £149k for 16.56m new shares.

What is the impact on existing shareholders ie the dilution effect? An effective discount of 1.28p for each of the 16.56m has been given. That's a total of £212k shared between the holders of the 5,221m shares in issue pre-exercise. About 0.004p per share. If you own 1m shares, it's "cost" you £40.

As you were...

Rupert Hargreaves wrote that for Motley Fool. It was published on 2nd September.

Shame...!

Were you a professional cut and paste operative, copying other peoples work verbatim without crediting them...?

Your faith in professional investors is touching jptop. Unfortunately, the holders of funds containing the likes of Capita, Provident, Dixons, BT etc will tell you otherwise! None of us are right all the time, no-one is immune from buying high in error. Believe me, I've been there...!

The price has fallen on only 4 days out of the last 14.

It is presently 16% higher than it closed two weeks ago.

Rodders74 - I don't see any advice in jungern's post. Only an opinion and a reflective statement.

This from you however "Dont sell UKOG and buy HUR purely on the so say of the daydreamers who post here..." looks very much like advice to me...

So many needy investors here...

At the risk of pointing out the obvious, you only "...need good news and now..." if you are planning to sell today.

If you are planning to add to your position, a lower price for a period can only be helpful.

If you are planning to hold the position you've built until the returns you hope for are delivered, then just carry on holding.

It's not that difficult!

For balance argus1, there are an equal (possibly greater!) number of posters trying to manipulate people into buying...

"Well done if you followed the sequence and got your golden tickets. You might have to be very quick on Monday morning..." and “...2nd homes, Luxury cars, Exotic holidays, Rolex's...” etc etc etc

My view is that anyone posting systematically with intent to influence others - and therefore the share price - should be considered a troll. It doesn't matter whether they are trying to influence the price positively or negatively, "rampers" and "de-rampers" are two sides of the same coin.

I think the opposite Rodders74. Quite a chunk of good news has been priced in ahead of the anticipated unveiling of test results. This has driven the SP up from the 1.9p area it traded in for much of Aug. As the results haven't yet arrived, some investors have got cold feet and some traders have decided to cash out the small gains they've made. Their selling has pricked the little bubble created at the end of last week.

A declaration of commerciality for the Portland at the sort of flow levels declared to date may well be seen as confirmation, not as new news. If so, it'll increase the resilience of the share price in the 2p range, but I doubt it will have a major positive impact in itself. A positive surprise from the Portland (still possible!) would drive more of a re-rate.

I agree that the Kin is the main course.

Lower, as in back to where it was early last week?

A sense of perspective is needed. Last week we saw a couple of positive days on no real news, perhaps aided by some determined cheerleading here. This week we are seeing the opposite. It really doesn't matter....

Material new news, sufficiently good to attract new investors and their capital, will be needed before the SP moves out of the 2p +/- 0.5p range it has been trading in.

Can the results of the Portland testing deliver this news? Maybe - let's hope so - although my sense is that this has been so widely telegraphed that there's a chunk already in the price.

The biggest upside potential lies in the testing and results from the Kim.

Sounds like a sure thing. Regardless of testing results!

...is basically where it was a week ago. We have a seen a small rise and fall in the meantime driven by nothing in particular.

Of course this being LSE the rise was the start of the big one, the brakes released so the Kraken could wake. And we were all investment geniuses for being in ahead of it! Now the price has slipped back a little on the reality of no further news, it's because of market makers, de-rampers, AIM games etc. Laughable!

Holders should just sit tight and await further results from the testing programme.

You must have been a dreamer once cockernhoe! There’s no reason to be be holding an AIM oiler otherwise ;> We’re not here for the dividends are we...!

Your earlier post on ramping and deramping being extremely childish is spot on btw. The obvious deramping trolls are obvious, easy to spot and ignore. But the ramping trolls who spam this board with endless puff-posts aren’t always as obvious. They are, though, just as damaging if not ignored.

Welsh - only yesterday you were offering advice on the subject of market makers:

“Perfect scenario for the MM's this morning. UKOG not issuing an RNS or bringing in any tankers because of the swampies at HH and the injunction hearing later this morning. Playing the price like a fiddle. Just sit tight and hold those shares”

And now you ask “What is JBER and SING”.

A little knowledge is a very dangerous thing...!

Well they continue to share interesting pictures and details, for which I am grateful. With a spread of 2%+, what you imply looks like a tough/risky way to monetise a small information advantage. I suspect the guys are more motivated by acclaim and recognition, to which I think they are entitled!