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Has anyone who's planning to attend the AGM on Friday been through the machinations of registration with Barclays/Smart Investor in order to obtain their posted authentification paperwork in order to gain entrance via reception/security on the day? Just wondering how it works. I presume the result it that the shareholder's name is inclded in a list held by the security desk and all that's reuired is suitable ID. Is that right? Grateful for comments. Thanks.
For interest, here's an email I sent to UKOG this morning. I'll publish any response I receive:
to info@ukogplc.com
I am a share holder and my shares are looked after by Barclays Stockbrokers/Smart Investor.
I travelled from the East Midlands to the City last year for the UKOG AGM but was not allowed past the security reception area because the paperwork I presented was not admissible. I had requested the required accreditation from the Corporate Action dept of my broker and the pages were posted to me. For some reason they were insufficient for entry. I was not the only shareholder barred from the meeting. Several were left milling round the ground floor reception area watching the security personnel packing up at noon and leaving.
We were all very angry and dissatisfied.
So, I would like to attend this year’s event and this time I will need to know precisely the correct documentation to carry with me. I simply cannot trust Barclays again. So, my question is, would you please either have the most suitable person call me on (tel number) or reply by email with full details OR give me the contact number of the company you will be employing to monitor shareholders entry this year. They will be able to tell me exactly what I need to present to them. Thank you.
Just two other points. May I suggest that you consider amending the telephone number on the UKOG website, describing it as unsuitable for investors so as to save shareholder's time by using the wrong number. I rang earlier but was told by Jackie (?) that there was just her on reception and that it was not an investor’s line, sorry. (!)
Communication for shareholders by telephone is clearly not encouraged by UKOG since there is not another number available on the website. Hence my use of this message.
So, lastly, to help shareholders obtain the correct, acceptable documentation to allow entry to the AGM and avoid the embarrassment and other discomforts of being publicly barred, may I suggest that you add the required details to your website for everyone’s use?
Thank you
For interest, here's an email I sent to UKOG this morning. I'll publish any response I receive:
to info@ukogplc.com
I am a share holder and my shares are looked after by Barclays Stockbrokers/Smart Investor.
I travelled from the East Midlands to the City last year for the UKOG AGM but was not allowed past the security reception area because the paperwork I presented was not admissible. I had requested the required accreditation from the Corporate Action dept of my broker and the pages were posted to me. For some reason they were insufficient for entry. I was not the only shareholder barred from the meeting. Several were left milling round the ground floor reception area watching the security personnel packing up at noon and leaving.
We were all very angry and dissatisfied.
So, I would like to attend this year’s event and this time I will need to know precisely the correct documentation to carry with me. I simply cannot trust Barclays again. So, my question is, would you please either have the most suitable person call me on (tel number) or reply by email with full details OR give me the contact number of the company you will be employing to monitor shareholders entry this year. They will be able to tell me exactly what I need to present to them. Thank you.
Just two other points. May I suggest that you consider amending the telephone number on the UKOG website, describing it as unsuitable for investors so as to save shareholder's time by using the wrong number. I rang earlier but was told by Jackie (?) that there was just her on reception and that it was not an investor’s line, sorry. (!)
Communication for shareholders by telephone is clearly not encouraged by UKOG since there is not another number available on the website. Hence my use of this message.
So, lastly, to help shareholders obtain the correct, acceptable documentation to allow entry to the AGM and avoid the embarrassment and other discomforts of being publicly barred, may I suggest that you add the required details to your website for everyone’s use?
Thank you
.......the proof of the pudding is in the EATING, not the pudding! Check it out. Talk about Mrs Malaprop!
Quite funny really. And what's that thread title? Controlling Marjorie?? Oh no, wait on, it's just a typo.
So Steve takes another piece of the Wealden Pie. My interpretation is that it's good news and will return good profits. Looking forward to the drilling season, too.
rxdav, thanks for the appreciation but that was not the purpose of my post. You deliberately deflected that point which, of course, was to highlight that you were inaccurate with your SP comment. The .09 difference is irrelevant, as you well
must know, I feel sure. I'm not concerned with 'takers' but I will point out misleading inaccuracies when I see them. We don't want readers thinking the SP is performing even worse than it is, now do we?
SuperOwl, would you please expand on the 'convertible debt' aspects and how it would disadvantage the private investors and benefit the directors and others?? Genuine request for improvement to my financial knowledge and for others, too, maybe. Thanks.
Pdub: 'However as far as I am aware this "rumour" to go private was started here, not from either of the parties'.
Well, yes, I think that's a reasonable premise. You wouldn't really expect either party to have come out with a suggestion of privatisation, would you? Of course it was raised as a discussion point on this board - and that's what we're doing.
Can you please explain in more detail why you feel the 'coupers' ie 'toffs & co' would be more likely to take this route than the present incumbents?
I should state, by the way, that I am in favour of retaining PV & co but not necessarily for the reason above.
Thanks to youngba and Ferring for the replies. Yes, that makes sense to me and how I had imagined it to be and, as youngba's analogy suggests, it would be very similar mechanism to a takeover bid by another company except in this case, potentially, if a new board replaced the extant BoD with the unstated intention of privatisation, a cynical view might be that, collectively, they could attempt to bring about a drop in the SP value over a period of time, undervaluing the assets and potential, and then make a comparatively low offer to shareholders which could lead to the directors obtaining the company at a huge discount. The bargain at that time would be great enough to sufficiently alleviate the drop in value of the shares owned by the directors before the coup.
I am hoping that this scenario does not hold water and that the existence of holes will soon be pointed out!
neon1001uk: 'Diden't you just ask this on the UKOG board'
I presume you are referring to my request for answers to my questions concerning taking companies into private ownership?
Why are you asking me that if you have already read it?
I also posted the same question yesterday at 6pm on this board. There was no reply and so, in search of a wider audience, I posted it on the UKOG platform (where I am also invested) as well as repeating it here.
Fortunately, I received an intelligent reply from gkb on the UKOG one.
Is that OK with you? Did you want to share any information alluding to my questions?
gkb47: 'don't think there is a mechanism as such, they will offer what price they think it's worth. Generally a big plc will offer more than someone wanting to take it private though'.
Hmm. There are two points that particularly interest me: i) how do they value what the shareprice offer will be and, b) what happens if insufficient investors accept - I'm presuming they would have a choice (?!)
Anyway, most likely academic at the moment and, yes, certainly, a negotiated price with a major would be preferable by far!
Appreciate your posts.
Would anybody who knows be kind enough to explain precisely what is involved when company directors take a company into private hands? In particular, what happens to the value of the shares held by investors such as PI's?
My suspicion is that the SP can be managed to the advantage of the buying out directors. Is there much or any protection for ordinary investors? Thanks in advance.
Yesterday, I asked for opinions on the subject below. I was surprised no-one had any information or informed opinions so I have assumed that many posters missed it and I have posted again under a different thread title:
'Would anybody who knows be kind enough to explain precisely what is involved when company directors take a company into private hands? In particular, what happens to the value of the shares held by investors such as PI's?
My suspicion is that the SP can be managed to the advantage of the buying out directors. Is there much or any protection for ordinary investors? Thanks in advance'.
Following on from Moosematics helpful response on EGM voting for PI's earlier today, I wanted to add that Barclays Stockbrokers do not have an on-line/website facility for such direct voting and investors would either need to contact the Company’s registrars, Share Registrars Limited, if attending the meeting or instruct Barclays to send in the vote over the phone. Thought this might save some time if you didn't know.
FWIW, I am in favour of retaining the BoD with PV at the helm.
Would anybody who knows be kind enough to explain precisely what is involved when company directors take a company into private hands? In particular, what happens to the value of the shares held by investors such as PI's?
My suspicion is that the SP can be managed to the advantage of the buying out directors. Is there much or any protection for ordinary investors? Thanks in advance.
Hey Newboy58. Agreed that there are seemingly very few unbiased voices on this chatboard these days. I post only infrequently. I am not only busy with my wine business most days but also, like, I suspect, many other good posters, simply cannot be bothered to be dragged down into the mire of dross-filled, immature arguments.
So, since I am here, I will further agree with you that, in theory, a COO post for SS would seem a better fit, bearing in mind what skills have been demonstrated to date. However, there would not only be an extra salary and expenses cost but, almost certainly, another tranche of options issued at the SS level or higher.
I would initially like to see a detailed function analysis of the PR agency role. Followed by full details of what they have achieved to date. We seem to have somewhat of a void in this area . Can anybody out there recall for us any tangible piece of work created by the agency?
I understand, from my previous time in corporate roles, that the PR function's success or failure is always difficult to define but I think we shareholders are entitled to a little more noise and polish. Such silence makes us wonder, does it not, whether the costs of the current output of this agency are worthwhile?
Perhaps, the monies required for a new CEO, with exceptional PR skills, might be worth it after all?? Oh, wait a minute....
I wish all the honest UKOG private investors a very enriching New Year. Therefore, by dint, I wish all misleading and dishonest would-be influencers, a poor one.
Manipulators, whose intent is to profit by another's misfortune, should suffer accordingly, IMO. Simple karma. They, alone, are responsible for their actions.
Anyway, I have already been a comparatively long-term holder of these shares and am prepared to wait further for mega-worth to bestow itself on UKOG, as Weald oil is developed into a massive commercial force.
Remember, our Weald acreage (possibly more in 2019?) and new wells upon it, may offset most, if not, all, decline curves. That is the strategy, IMO. What do you think?
Anyone know why this poster has dried up? Looks like no posts since Dec 1st. Moved to another chatboard, perhaps? Or Twitter?
May an enriching 2019 befall all genuine investors in UKOG.
None of us are angels but few of us are snakes.
Yuri, you will find, with a little more experience of life, that not everyone thinks and acts like you. If, of course, you are already of a certain age, you should have got out more...................
Definitely filtered! KLAAANG!