Amerisur Resources Share Discussion Threads

[tonyrelaxes] 27/2/2018 07:05

RNS Number: 9073R
27 February 2007.

Appointment of new Chairman.

11 years ago at this very moment the share price was 12.39p.

After 11 years of Giles Clarke’s Chairmanship and his appointment of others with a similar lack of oil experience, this anniversary morning we open from last night’s close of 15.86p.

3.47p increase after 11 years. An annual compound increase of 2% for each year during which GC and his handpicked professionals have been in charge. Hardly a return rate any self respecting Fund Manager would be proud of.

Wondering how much was paid to GC and cronies for the somewhat unspectacular growth in the share price of my shares, I have looked again at the published Annual Reports from 31 December 2016 going back to 1 April 2008 (I do not have ready access to earlier years).

Members of the BoD appointed on or after 27 February 2007 with no “oil experience” listed in their CVs in the Annual Reports, were remunerated with the following Emoluments between 1 April 2009 to 31 December 2016 :-
(Converted at y/e exchange rates. All figures rounded to nearest £‘000)

£ 2,105,000 G Clarke (appointed February 2007)
£ 2,251,000 N Harrison (appointed April 2007)
£ 220,000 N Luson (appointed May 2013, resigned April 2017)
£ 151,000 S Foss (appointed January 2015)
£ 42,000 C Jenkins (appointed May 2016)

£ 4,769,000 TOTAL for 7¾ years to 31 December 2016

The prior years to March 2007, 2008 and 2009 were ‘modest’ by comparison with the Remuneration and Options bonanza that commenced in 2012.


Turning to Share Options, within those Report years the Directors exercised the following options:-

GC - 26,100,000 at 7.15p and 1,500,000 at 0.1p
NH - 8,720,000 at 7.15p, 5,500,000 at 7.53p and 1,500,000 at 0.1p
Other Options awarded have either expired or remain held.

On 1 April 2009 their shareholdings were GC 10,527,448 and NH 2,245,925. Their current holdings are now 17,505,227 and 6,460,152 respectively. So by assumption shares sold were GC 20,622,221 and NH 15,720,000. Some of these sales would have been to meet the modest exercise prices and resulting Income Tax liabilities, making the balance retained ‘free issue’ with no net payment.

At another time I will analyse shareholdings and options exercised. However on first look it appears that from 2009 they have not put their hands in their pockets to buy a single share - other than to obtain them option shares ‘free’ without net cost.

With sales over 36,000,000 shares there has hardly been an inspiring show of confidence in AMER’s prospects with them running it.

Considering they have presided over an share price increase of less than 3.5p after nearly 11 years, rewards to these Directors seem out of proportion to their success, or even their ‘part time’ involvement in the running of AMER (they have other companies to attend to).


Additionally, a company owned 73% by GC and 27% by NH was paid a further £666,000 during the years I’ve looked at for providing “accounting and office services”.

[juuunx2] 27/2/2018 05:40

At least Bod don't have to go cap in hand to share holders for placing now. Chariot oil share holders got nasty surprise yesterday with placing and down 28%. We are all funded with cash to spare. Be nice to hear some drilling news soon.

[harrisun] 26/2/2018 16:40

Boris

Now over $64

[laptop15] 26/2/2018 15:43

Code 100...we need shares...mm code. Its going to move north very soon!

[the dark horse] 26/2/2018 14:46

Whilst technically I am bottom fishing and this could drift further down, I couldn't resist a top up at 16p as I don't see it much below 15p and when it turns I believe it will turn sharply. Mkt cap well below £200m - surely a steal if you take a six month view?
caveat emptor
tdh

[underhill2] 26/2/2018 14:36

Malcy is one of the City's clowns. I never take any notice of what he says. Amerisur will come good one day but in my opinion it won't happen under the current Management.

[juuunx2] 26/2/2018 14:11

Let's hope the good times are comingWhiskey

[whiskeyinthejar] 26/2/2018 13:50

Malcy picks Amerisur again. Adds Trinity, Eco, Savannah, President, Echo and Reabold



Hasnt been a great time for most small oilies, better times ahead perhaps.

[farview1] 26/2/2018 13:46

I'm really not sure, but the trades do look strange today.Was hoping more knowledgeable posters might be able to shed some light.

[laptop15] 26/2/2018 13:35

Small trades indicated mms code, last time tgis happened a huhe delayed sell went through and share price rose sharply. End of the overhang is very near!! LAST CHANCE TO BUY AT THIS LEVEL FOR A WHILE :))

[juuunx2] 26/2/2018 13:31

That's an interesting viewpoint. What do you think they might be signalling? Could they not use phone or internet? Lol

[farview1] 26/2/2018 13:28

Piddly trades - looks like market maker signalling ?No-one buys/sells 6 shares for a £1. There are several of these and some smaller amounts.

[blackdown2] 26/2/2018 12:35

Hope so. Lots of piddly little trades today.

[juuunx2] 26/2/2018 12:22

Yes but we also have results coming which we know will be good. Reserve upgrades? News on drilling etc. Maybe they will spend additional funds on new acquisitions etc. No debt and making profit. Something good got to come out of it.

[juuunx2] 26/2/2018 11:42

The 18584 trade was me. That's my last ever top up honest! Brings my average down a little I suppose. Come on management give us some decent news flow. I notice from last years news flow March was a busy month.

[juuunx2] 26/2/2018 11:21

Yes I'm gonna add shortly before reserves update and results 7k plus would do quite nicely

[bryet] 26/2/2018 10:46

Monthly report next week need to average 7000 to steady the ship.

[juuunx2] 26/2/2018 10:01

Not much volume today

[alfieduncan] 26/2/2018 09:39

Thks Harrisun. I hope he holds in there and makes a good turn on his remaining holding even though he’s stalled party for whatever reason.

[lucyp00p] 26/2/2018 08:13

Oh dear, after last night I'm going to have to get the milk from another grocery as my local just exploded!!

[laptop15] 26/2/2018 08:11

Steady rise from here all now guys :)) load up and lock in....back to the 20s for starters

[harrisun] 26/2/2018 07:25

Boris. WTI now $63.62

[harrisun] 25/2/2018 23:03

Alfie. Been done to death already

Loads of exemptions one that if its passed within a single transaction then the obligation only arises after that transaction is concluded. This was done to prevent telegraphing intentions to the market on very large trades, buys or sells. If its one transaction - it looks like it, broken no rules and won't break any rules whatever threshold he passes. Thought he had 56m left, less than that now. You rightly suggest he might not selling all so selling could end anytime and getting to the stage that one institution could absorb 'em even if he is selling all

[lucyp00p] 25/2/2018 22:48

"May impose sanctions?" Like he's not done enough damage himself

[alfieduncan] 25/2/2018 21:36

Obligation to report threshold crossings
``In accordance with the London Stock Exchange (LSE) rules, Panel of Takeover
and Mergers board (PTM) rules, an investor who acquires, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100% of a UK Company, must, under the Companies Act 1985 Section 198, disclose their interests to the London Stock Exchange and the company, within two days. The company may impose sanctions if disclosure not completed.``

Just reacquainted myself with LSE rules and thought I`d pop it up for those at my level. RH has approx 60m shares left by my calculations. Should he offload up to another 2% of AMER he`d have to inform the market. Sorry no big revelation and sadly quite a slug for the market to absorb in the current climate.
He might just leave the rest in the bottom draw.