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SRON Saffron Eng

4.10
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Saffron Eng LSE:SRON London Ordinary Share GB00BDCFP425 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 4.10 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
4.00 4.20
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 4.10 GBX

Saffron Eng (SRON) Latest News

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Saffron Eng Forums and Chat

Date Time Title Posts
09/4/201807:10Saffron Energy PLC361

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Saffron Eng (SRON) Most Recent Trades

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Saffron Eng (SRON) Top Chat Posts

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Posted at 28/3/2018 15:23 by steelwatch
@CoroEnergy (aka SRON)
5 hours ago

Coro Energy reminds investors of General Meeting taking place tomorrow: Grant Thornton, 30 Finsbury Square, London, EC2A 1AG followed by an investor lunch at Finch's Pub 12a Finsbury Square. Please e-mail s.dees@coroenergyplc.com if you have have not secured your place.
Posted at 05/3/2018 17:11 by borisdog2
Current Price

97.50p
+0.00p +0.00%

Bid Price Offer Price
95.00p 100.00p
High Price Low Price Open Price
97.50p 97.50p 97.50p
Shares Traded Last Trade Market Cap (m)
0 06:41:12 53.63
CIP Merchant Capital Ltd Further update on Investment in Saffron Energy plc
Intraday Cip Merchant Chart

Intraday Cip Merchant Chart
05/03/2018 3:20pm

UK Regulatory (RNS & others)


TIDMCIP

RNS Number : 7356G

CIP Merchant Capital Ltd

05 March 2018

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

5 March 2018

CIP MERCHANT CAPITAL LIMITED

("CIP Merchant Capital" or the "Company")

Further update on Investment in Saffron Energy plc

Further to the Company's announcements of 22 January 2018 and 28 February 2018, the Company is pleased to provide the following update regarding its first investment.

As per Saffron Energy plc's ("Saffron") announcement of 28 February 2018, Saffron has confirmed that it has made significant progress on a number of acquisitions in South East Asia that are consistent with its multi Tcf exploration gas strategy and that it has withdrawn, by mutual consent with Po Valley Energy Limited ("Po Valley"), from the acquisition of Po Valley Operations Limited ("PVO") (the "Po Valley Acquisition").

The Company believes that the revised transaction continues to represent an attractive investment proposition and accordingly, the Company is pleased to announce that it has re-confirmed to Saffron its second subscription of GBP5,438,862 as set out in its announcement of 22 January 2018 (the "Investment Announcement").

Resulting interest in Saffron

As at the date of this announcement, following completion of the initial investment of GBP561,138 as set out in the Investment Announcement, the Company is currently interested in approximately 7.0% of Saffron's issued share capital.

Subject to, inter alia, Saffron issuing a revised admission document, Saffron's shareholders approving the proposals at its general meeting and completion of the proposals, the Company will then be interested in 150,684,929 Saffron Shares representing approximately 21.0% of Saffron's then enlarged share capital. As a result of Saffron no longer proceeding with the Po Valley Acquisition, the 200,000,000 Saffron Shares to be issued to Po Valley as consideration for POV will now not be issued and therefore, whilst the number of Saffron Shares held by the Company on completion will not change, its resulting interest in Saffron's enlarged share capital will increase.

As set out in the Investment Announcement, on completion the Company will also be interested in 68,493,150 warrants in Saffron.

The Company also confirms that it is deemed to be acting in concert with Continental Investment Partners S.A., Metano Capital S.A. and Greenberry S.A, Marco Fumagalli and James Parsons (together the "Concert Party") for the purposes of the UK City Code on Takeovers and Mergers (the "City Code"). The Concert Party currently holds 14,092,500 Ordinary Shares, representing 7.0% of the Saffron Shares. On completion of the Saffron proposals the Concert Party will hold, in aggregate, 163,605,640 Saffron Shares, representing approximately 22.8% of the Saffron Shares and will also hold, in aggregate, a further 88,493,150 options and warrants in Saffron.

Assuming the exercise by the Concert Party of all of the options and warrants held by them and no exercise of options and/or warrants by any other party, the Concert Party would hold, in aggregate, 252,098,790 Saffron Shares, representing approximately 31.3% of Saffron's then enlarged share capital.

If the Concert Party was to increase the percentage of the aggregate voting rights it is interested in to 30.0% or more of Saffron issued share capital then they would be obliged, except with the consent of the Panel on Takeover and Mergers, to make a mandatory offer pursuant to the City Code and in order to avoid such an offer, CIP may therefore no
Posted at 27/2/2018 17:52 by steelwatch
#SRON #CORO Saffron Energy plc Further to its announcement of 23 February 2018, Saffron Energy, the pan Euro Asian gas explorer, confirms that it is close to signing an agreement in respect of a substantial change to the transaction in respect of which it expects to make a definitive announcement tomorrow, 28 February 2018
Posted at 24/2/2018 11:51 by head gardener
2vdm, selling at 6p, for a company which is pure hot air is a great price. Copper is a much better place to be invested,rather than here.
Posted at 31/1/2018 13:58 by steelwatch
@SaffronEnergy
5 hours ago

Saffron Energy #SRON: Coro Energy Launch Event and Fourth Quarter Italian Production Update

Posted at 22/1/2018 07:46 by rollthedice
RNS - already heavily diluted, SRON holders will be further diluted by a large placing (c320m shares) & open offer (c45.6m) @ 4.38p. With open offer @ 4.38p post-reverse takeover we're not going to see any price recovery even when it comes out of suspension.

Total shares 186m (current) + 186m (SEHIL) + 200m (PVO) + 365m (placing/open offer) = 937m ~ so existing holders have been diluted down to 19.85% of shares in issue.

Upside are new assets/production but these will have to be significant to see any rise in the share price imho.
Posted at 04/1/2018 16:34 by winnet
Nope, I am afraid Turner and Pope and my own broker are being tight lipped. I would expect by the end of February as the very latest.

SRONs work is still going on in the background and Selva, which is one of the CORO assets had a strike in the interim. These things are all good and I am awaiting details of the deal with eagerness.

There are some rumours flying about of a placing, but i would hope the CORO team would not overly dilute SRON holders, many of whom participated in the IPO at much higher levels and where given assurances of a certain strategy.
Posted at 12/10/2017 14:53 by winnet
Credit guy over on LSE: KV3MC

Production and development:

Selva onshore gas field (2C 17 Bcf),
Teodorico offshore Adriatic gas field development (2C 47 Bcf),
Sillaro (2P+C 3.3 Bcf ),
Bezzecca (2P+C 6.0 Bcf),
Sant� Alberto (2P 2 Bcf),
San Lorenzo (2P 0.1 Bcf),
Rapagnano (2P 1.0 Bcf)

Exploration:

Torre Del Moro,
Laura (most likely 17.1 Bcf),
Dalla (most likely 24.6 Bcf) and
Maria Goretti (most likely 32.8 Bcf).

So SRON goes from 12Bcf Prod and Dev, to 77Bcf Prod and Dev. It also gets (probable) another 75Bcf exploration, plus Torro del Moro, however big that is.

Think of CORO as being ten times SRON, at least. SRON shareholders have been diluted from 35% to 16%, which I think is excellent value for the assets injected. We also get to have James Parsons as chairman. I have every respect for Mr Masterman, but it gets very boring and a little irritating to hear the same idiots trot out the "smoke and mirrors" and "snake oil salesman" garbage. They will have to try a lot harder with Mr Parsons. Anyway, this can go EXACTLY the same way as SOU - I don't care who get's it there.

I can't speak for any other placees, but I bought in both placings, plus loads in the 4-5p range. I have sold a grand total of ZERO shares.
Posted at 29/6/2017 08:21 by winnet
jaf, just looked at WRES. SRON have actually done very similar in share price terms - 8p to 4p. WRES have gone from .7 to .3.

Lets hope value will prevail with Sron. And WRES for that matter although i know nothing about them!
Posted at 22/3/2017 08:00 by scotty1
fission453 Copy and pasting news or info is no problem of course as most do it.But one line ramping without any substance to them as in some of your posts doesn't do any good to a share.Stick to the facts and and if the company delivers on it promises then the share price will take care of itself,value will out in the end as they say.I doubt very much that you could post a piece about SRON in your own words as the name calling shows how childish you are.Sorry for blocking the thread up with rubbish guys and of course you are right the thread is for and about SRON and one should stick to the facts about that.Todays RNS should hopefully put a tad more on to the share price will it bring a few sellers in,possibly.Just need the approval in April now and things should move along nicely from there
Saffron Eng share price data is direct from the London Stock Exchange

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