Member Info for stockdale

The option to fund raise (only the option) improves confidence. Improved confidence equals improved SP. Actual fund raise can result in lower SP if the market doesn't like the reason, so for example Director lifestyle salary. Actual fund raise can result in higher SP if the market likes the reason, so for example to stimulate the wells.

Or you know that already and your post was just being challenging?

My point about it being confidential within the SR being convenient implies that Colin can refuse an offer without us knowing if it is below what he wants for himself and the Directors. They have little in the way of actual shares but they do have options. Refusing a low offer may end up with us getting nothing. But we don't know. It's 'confidential'.

We can pretty much infer the major player is INA. They don't need the IPPC. They're right next to Petisovci. They have the funding and technical capability. We know the interest they have already shown as there's a pipeline going from PG10 and PG11a through the CPP and on to their plant at Molve in Croatia. They just need cooperation from ARSO and the Minister. But what price are they willing to offer? All confidential within the SR apparently. How convenient.

Thanks WHYAST. Got all of that. Nothing confirmed, as you say, and yet we have a vote to allow fund raising without anyone knowing what they are voting the funds for. Just vote 'no'? And AST could be in financial trouble. We don't know. Vote 'yes' and the Directors can then pocket their full salaries or maybe the company is saved from becoming insolvent. We don't know.

That's the immediate problem. Of course the gas processing is all nice to know about. It all becomes irrelevant to us if the company goes under.

Even Colin won't have any idea of the direction the Minister is going in until he meets him this week. Even then he may only know part of the way the Minister is thinking. How shareholders are supposed to know what is going on is beyond me. It's already too late now for HL shareholders and they're 27% of all share holdings. It's a mess.

There was all kinds of rubbish tweeted at the time. The specific tweet from the Minister was:

"It is true, last week I ordered the internal #nadzor above the two procedures that lead them #ARSO. I want to make sure that all the procedures have been guided professionally, impartially and lawfully, and above all, the employees were not subject to inappropriate pressure."

From which all kinds of doom laden reply tweets ensued. From his actual demeanour on Twitter he appears to be reasonable with some very unreasonable replies attacking him. Let's hope that is the case and a meeting this week will resolve things. It is strange though to put out such a tweet and then go on holiday for two weeks.

WHYAST, I don't look at just one side of the argument, like many do on here. I look at all angles good and bad. That way you get a balanced view and are more able to see what is happening without blinkers.

The Minister puts out a tweet saying he is going to review things and even the possibility of an Environmental Impact Assessment, which could take months. I think you can see the way he is thinking. It needs to be investigated by Colin early this week so he can go to the GM with some news for shareholders.

If we all 'desist' from looking at such things we will be taken by surprise won't we? Although I think many are already convinced one way way or the other.

... mention it. That is.

He better be scott. This situation is getting ridiculous. Some have thousands of pounds invested in AST and Colin seems way out of his depth. GM next week, HL shareholders (27% of all AST shareholders) not able to vote, Minister delaying and looking for an extensive 'review'. The situation is getting out of control. And that's not mentioning the shareholder revolt evident on many looking to vote 'no'. But then I just did.

Loads of tweets on #AST about vitamins and Japanese bikes swamping Twitter. Have to trawl through them to find anything about AST.

Yeah well. I don't know which is more stupid: his silly prediction or your mock outrage. Both are pointless.

JL is not issuing the permits tomorrow. He's going to have a review of all the procedures. That'll take a few more months. Oh well keep squeezing the gas out of PG10 and PG11a, whenever it's pressure is restored.

I agree it looks like a fund raise before knowing what is happening.

I'm sure Colin would say they need to raise funds to ensure the company remains solvent. That was the reason given for the October 2017 fund raise and look how many shareholders complained about that one. And how the SP subsequently fell back on poor sentiment.

Trouble is us shareholders are playing with fire if we vote 'no'. Colin may actually be right. We don't know. The boy who cried 'wolf' was right in the end.

"I have NEVER proposed anything to cause this and would gladly fund the Company to achieve these results."

Which is why we should vote 'yes'. The funds should not be used for anything else.

I agree though they appear to be in a hurry without waiting for the outcome of a meeting with the Minister next week. I would think Colin would say he can't wait for ARSO or the Minister though. He needs to be proactive. And there is some truth in that. The Minister also has intentionally delayed proceedings by being away for two weeks after tweeting his intentions. Maybe a bit of pro-activity is required.

"If the vote is important for the 27% they can attend meeting."

Such a simplistic view WHYAST. Only valid if you have access to London at that time on that day.

Otherwise I agree with your concerns of the Minister's actions versus his previous words.

That's my view Johnny. However the nay sayers are convinced the BoD are just raising to fund their lifestyle. And they're bolstered by the environmental campaigners. The resolution needs 75% to pass. The combination of environmental campaigners and the disbelievers could well make it fall short. Then we need plan B for the company to survive: hope there's sufficient income from PG10 and PG11a to cover the costs of running the wells until the permits are issued after the Minister's review, yet to come.

Further to that Hargreaves Lansdown have about 27% of all shareholders in nominee accounts and they apparently needed 10 working days notice. So it could now be too late for 27% of AST shareholders when the final date for voting was 16th November and we're still only at 11th November. So the vote could be a bit of a debacle.

Agree with your last post ST.

It's a bit of a gamble to vote 'no' on the assumption AST will survive without a future fund raise. Conversely the argument of having a fund raise to bolster AST's bargaining position is also a bit suspect.

I think any party in the SR will go ahead on the merits of the gas in place, the wells in place and their technical knowledge of what's required. INA seem to be in primary position. They don't need an IPPC permit, they have the technical knowledge and are local to Petisovci. It is also hinted they are still in the SR. They would offer based on the merits of the project. I doubt AST having financial strength would be their primary reason. AST would just be a means to an end.

So the view of the (genuine) 'no' voters is the concern Colin et al are placing for their own lifestyle benefit.

The view of the 'yes' voters is the company needs funds to ensure survival without external pressure being a concern.

Not sure the 'no' voters have a strong case. The situation has changed from the Henderson days. This really is becoming the Titanic and we shouldn't be the band playing on while the ship sinks around us. Even if we may think the BoD are looking to maintain their salaries, and it is a concern, we really need to consider the strong possibility of the company going under. I also believe Colin et al are now much more concerned at the company remaining solvent and that has been shown by their reducing income and the last RNS, where they are aware of the costs in Slovenia versus the current production income.

I believe voting 'yes' is necessary to at least ensure the company remains solvent.

So Colin should have realised there would be all these delays for the permits? He should have realised the NGO would appear in 2016 and stall progress? He should have realised the new Environment Minister would go against his own environment department (ARSO) in requiring a further review when ARSO have already done it all?

He may only be a bean counter but he's certainly gained a lot of experience in sleazy politics over the years he's been dealing with Slovenia.

I don't think I'm giving the environmentalists too much credence. In fact I'm clearly not doing so. Just look at the record of their success. The NGO appealing until November 2017. Then the delay as soil sample, etc. requirements were met. Then the new Environment Minister stepping in with a further review when ARSO have already gone through their lengthy procedures.

No I'm absolutely not giving them too much credence and it's obvious to all I'm not.