Member Info for WG818

HITS
Just for historical reference.
The last time they held a GM (for the same reason) 9th Nov 2020 they had a placing 7 days later (albeit a small one) but it was at 0.6 p just below the recent one.
Then they had another a month later (the one with the warrants) and then the £100k one when frazer got the hump!

Of course that was no where near the size of this authority though.

And if you have a problem I suggest you report it there!……you have plenty of names to choose from after all!

Im not playing innocent. We both know what you did!

Blimey…4 likes for a post about a rival site????

Not sure what’s meant to been have said but I’m sure it can’t be as bad as pretending that you have called for an EGM after selling out and getting caught….. a Ed/cudd…….you have no shame!

Sorry. When I say break even I mean as the company as a whole. They need £2.5 million to service the rest of the operations according to all available accounts.
And that’s of course if gas prices remain elevated!

Torreagas
Know one is trying to deny that. However I’d you look at the ice futures they are now well below the CPR figures for next year and beyond.
The fact is that they have to prove they can get to produce what they hope for just to meet the hedge commitments. Just about break even with the recently anointed cost increase and all but guaranteed further delay with permissions let alone equipment delay. They the have the side track to drill successfuly! If they can do that then it’s happy days. If not and the last 9 attempts failed let’s not forget it’s head scratching time!

So your suggesting that he bought a third of the shares then Dyam. (They obviously weren’t all one way)Not likely looking at the others disclosures and what they did is it?

But the volume this week hasn’t been sufficient for that has it?

Not sure how you get to that conclusion Yanis?
He could have forgotten to file a Tr1 or averaged down over the years couldn’t he?

BV
“Yanis our 49% partner seem to have no way to raise funds for ongoing expenses,”
The partner gave them £2.5 million to re-connect or de-commissioning. All At Angus expense until 1st gas!
Paying 1 wage and keeping that website going isn’t going to break the bank! He could probably do with spending a couple of hundred quid getting the contact page updated though!!

I’m not sure having an amazing experience at his salon should be in a gas field website!
Saltfleetby energy.com

No. They had enough available to cover the warrants.

Erm……it tells you what it’s for!
(whether to maintain covenants of the Saltfleetby Debt Facility or in the
context of the prospective Saltfleetby Equipment Procurement or more generally)

We know they are out on the sums by over a million. Going to miss the target again as they don’t have PP in place and have to fulfill the Loan terms of having to have a minimum bank balance in place . (Seethe CPR)

Reason for the GM

Accordingly, the Company is now convening the GM to table resolutions to authorise the
Directors to allot further Ordinary Shares and to disapply statutory pre-emption rights in respect of
allotment up to a certain amount. This will give the Directors flexibility to allot further Ordinary
Shares in the future (whether to maintain covenants of the Saltfleetby Debt Facility or in the
context of the prospective Saltfleetby Equipment Procurement or more generally) should they
consider it to be in the best interests of the Company to do so.

Explanatory notes to the business of the GM
1. Directors’ authority to allot shares
The directors currently have limited authority to allot ordinary shares in the Company and to grant rights to subscribe for or convert any securities into shares in the Company. The Board is seeking, by resolution 1, to grant a new authority over ordinary shares up to a maximum nominal value of £1,748,939 (one million seven hundred and forty eight thousand nine hundred and thirty nine pounds), being 874,469,500 Ordinary Shares representing approximately 80% of the Company’s issued share capital as at 17 December 2021 (being the latest practicable date prior to publication of this document).
If approved by shareholders this authority will expire on 30 November 2022 or, if earlier, at the conclusion of the Company’s 2022 annual general meeting.
2. Dis-application of statutory pre-emption rights
The directors currently have limited power, in certain circumstances, to allot equity securities for cash other than in accordance with statutory pre-emption rights (which require a company to offer all allotments for cash first to existing shareholders in proportion to their holdings). The Board is seeking, by resolution 2, to grant a new power to apply to the grant equity securities in circumstances where:
1. the allotment takes place in connection with a rights issue or other pre-emptive offer; or
2. the allotment is limited to a maximum nominal amount of £1,093,086 (one million and ninety three thousand and eighty six pounds), being 546,543,000 Ordinary Shares representing approximately 50% of the nominal value of the issued ordinary share capital of the Company as at 17 December 2021 (being the latest practicable date prior to publication of this document).
If approved by shareholders this power will expire on 30 November 2022 or, if earlier, at the conclusion of the Company’s 2022 annual general meeting.

Not sure even with all those shares they could do that James2? Unless of course they are happy to take on that £12.8 million de-comm for the pipeline.
I’m not sure if they will be liable for half that already though as they seem very unwilling to answer the question when asked!

That may have been true bill had they not still got authority to issue 350million of at present and the reasons they give for calling the GM!

The fact they vote to be able to issue 870million more shares tomorrow morning obviously…..lol

“Better than Hiding behind Latin phrases “…….you mean like “inter Alia” the favourite fudge in an Angus announcement then BV?

That’s interesting Dyam! It doesn’t however explain the fact that a lot of poster’s full stop only seem to work some of the time! They all have some sort of rare syndrome or far more likely share the same keyboard! Ditto capital letters being missed!

Who would have guessed that JamesConroy suffers from the same full stop malfunction on his keyboard as well! What are the odds?

Very upsetting hopsta!…lol

I see you suffer from the very common condition on this BB of not being able to use the full stop at the end of a sentence!