Angus Energy Share Discussion Threads

[hopeful25] 19/9/2023 21:27

You do get around a bit Dog!

[barrelman] 19/9/2023 20:40

Sounds like someone got the hump?

[bionicdog] 19/9/2023 19:46

Nobody cares.

[barrelman] 19/9/2023 19:27

As I said in my earlier post there's more to come and there will be a lot more.

[1347] 19/9/2023 18:57

JT The Warrants may well adjust to the price of the next share placing/loan conversion/deferred consideration but what I was pointing out is that there has already been a share issue at 1.0 p, which is already 50 % lower than the original strike price of 1.50 p and goes against their statement that there will be no more issues ahead of a refinancing (there is some ambuiguity there though about whether they mean the Bridge Loan Too Far refinancing or the Loan to get Completely out of Debt refinancing). The lowest price in April 2020 was 0.4040 p, March 2020 was lower at 0.3510 p. Not much progress in all that time what?

[iceagefarmer] 19/9/2023 18:42

sunak is going to back track on net zero targets...announcement later this week,looks like they've seen the light at last...time to buy ukog and angus

[jtidsbadly] 19/9/2023 16:41

1347: I think they must have pre-sold this issue of shares, otherwise the 1p price looks a little expensive, innit? I agree with you about the warrants. Yes, I think they’ll adjust to the price of the next share placing. Anguish say they’ve no plans for a share issue, but they never have plans for anything, do they? It all comes as a bit of a surprise to them. They're unlikely to get a placing away now at much over 0.40p and the direction of the share price recently suggests this may be where they’re aimimg. The Aleph group may soon be required to make a bid for the minorities, what? If so, it will be, by coincidence, at about the lowest price the shares have reached - was it in April 2020? - about 0.40p.

[barrelman] 19/9/2023 15:14

And there’s more to come,

[bilbosenior] 19/9/2023 13:34

Nice to see a little interest.

[1347] 19/9/2023 08:44

JT . I thought it odd that these Lender shares weren’t issued closer to the anniversary date of the actual Loan They Didn’t Need completion, which was on 3rd June 2021, especially as last year they were issued a bit early on the 24th May 2022. The Share Price on 3rd June 2023 was 1.15 p, now it is around 0.70 p.

The Bridge Loan Too Far was first announced on 30th June 2023 and the terms for that and the need for ‘Global Refinancing’(or as I call it: ‘the now you can borrow enough to get completely out of debt loan’) on 14th July 2023 and started to be drawn down from the 21st July 2023.

So instead of issuing the Lender shares on or around the anniversary date they delayed it for 3 months and then issued them at a deemed price of 1 p. Obviously since the share price is now around 0.70 p the delay means they are now under water (unless they were forward sold a while back).

However there’s another consideration, because of the terms of the Bridge Loan Too Far:

The Company will also issue 300 million 3 year warrants to ACL (or associates or parties nominated by ACL) at a strike of 1.5p per share, for which authority will be sought at the next general meeting of the Company. The warrant strike price will adjust to the price of any equity issued during the term of the Bridge Facility if such equity issuance is at a price which is lower than the Warrant strike price. The Company is not planning any issuance ahead of a refinancing.

They say they are not planning any issuance of shares ahead of a re-financing, however they have just done so and issued some and if I interpreted this correctly the 300,000,000 Warrants are now priced at 1.0 p rather than 1.5 p, although they rather conveniently don’t mention that do they? Have I interpreted this correctly in your view?

[1347] 18/9/2023 15:52

JT Impossible to know what's behind it, maybe the workload was too much for him, with his other ventures or maybe 'erbert realised, like us, that compliance was not good enough. Anyway it seems 'erbert wants rid of the old lot and tends to do it bit by bit, although Carlos stays as FD and Paddy's still there, I suspect not for too much longer though. More musical shares issued I see, clearing the decks for the bigger issues to come with the Bridge Loan Too Far and deferred considerations I reckon.

[jtidsbadly] 18/9/2023 13:51

1347 so, Carlos has been replaced as Company Secretary. Let’s hope the share ownership/movement updates are a bit more prompt in future. I wonder what prompted it. Mr. ‘Erbert a bit concerned on the compliance side?

[bionicdog] 18/9/2023 12:59

Are you shorting it?

[onetomany] 18/9/2023 12:59

The only real negative about this share is that we are likely to be taken over somewhere in the opportunistic 1.5-2p range. Really hope they announce the lower cost funding and pipeline completion within the next couple of weeks, that will rerate to closer to 2p and stifle any low ball bid - which I believe is imminent.

[sincero1] 18/9/2023 12:53

another opportunity to make some money is presenting itself isn't it ... that will annoy irrelevant failures won't it ...ouch ... . afternoon moronicdog ....

[1347] 14/9/2023 11:24

JT I feel uncomfortable about the way most companies associated with Anguish Energy operate, Aleph in particular, this includes the Broker. Still it's up to the regulators to make sure UK companies are operating according to the laws and rules, the fact that they don't is just another reason to avoid them, especially AIM companies, and indeed the UK in general since, with the clowns in Downing Street it's not a business friendly environment, unless you have the 'right' connections, or your wife does.

[jtidsbadly] 14/9/2023 11:14

1347: well, there’s just two Directors and the company had a sub-division of share shares in August 2021. Since Mr. Forrest was the owner and only Director until September 2019, one surmises that this was to give Carlos some shares. I find it a bit uncomfortable that such an entity exists alongside a quoted company, of which the Finance Director is also a Director and where premises are shared. And that it existed, with the same address as Anguish, at the time of the Poundland deal. Doubtless nothing in it, though, what?

[jtidsbadly] 14/9/2023 09:52

1347: i wonder what’s happening at Paul Forrest’s Orwell Group. It was established, as you know, six months before the Wingas/SEL Poundland deal. Its registered office was then in the same office building at Chiswick as SEL and Anguish. It’s followed SEL to the latter’s new address in Knightsbridge. It has quite a large Creditors figure in its latest balance sheet, which is way out of date. Carlos is its other director, appointed in September 2019, four months after the deal with Anguish. What’s it for, do you think?

[jtidsbadly] 12/9/2023 15:55

1347: yes. Aleph Commodities recently acquired (the balance of the shares in) Intertank, which does what it says on the tin. I thought Cindrigo, who acquired Challenger Acquisitions a year or two ago, had some involvement in a company of the same name but can’t find a reference to it now. It’s all too incestuous, possibly, for me. Storage does look like a common thread, though, whaT? It’s all about the share price though and it looks likely to me too that small shareholders are going to get stuffed.

[1347] 12/9/2023 15:00

JT Looks like they are probably related. Yes seems to be a lot of companies involved, helps confuse things what, what. Interestingly several of the share holders of Aleph International Holdings UK Limited seem to be be based offshore, including the previous PSC Aleph International Holdings Inc, based in Delaware. Not sure why they would want to get involved with a small UK company operating one producing and depleting gas field, curieux non?

[jtidsbadly] 12/9/2023 12:08

1347: musical chairs at the pop-ups. Grenville Craig appointed as Director on 6 September at Aleph International Holdings UK Limited. He’s listed as about 83, Italian, resident in Monaco. Alexander Grenville Craig has been involved in most of the Aleph companies since inception. He’s listed as American, about 43. He left the Aleph Commodities Board in April. He’s still there at Aleph Energy and Aleph Saltfleetby, I think. He’s also on the Boards of another couple of Aleph pop-ups which are not (yet) involved with Anguish.

[1347] 12/9/2023 10:26

JT When? Well after they've got that VWAP as near as they can to the 0.40 p 'erbert dialled it at and they need to start forward selling some shares, or maybe after a low ball offer comes in to sell it as a 'wonderful deal'. I reckon it will be towards the end of September, as the Bridge Loan Too Far will go to the wire I expect, and that barrel may have got quite sticky in the recent heat.

[jtidsbadly] 12/9/2023 08:09

1347: yes, you’re quite right. Odd that he should refer to oil/gas diversification as “organic”; while potatoes are “inorganicR21;. Or am I putting words into his mouth? Or pen.

When are they going to unleash Malcy on this grey individual? He needs to put himself about a bit, innit? Non-shareholders here must yearn already for the Lucan approach. Say something - anything, no matter how misleading - rather than leave shareholders guessing. Lucan would have had a placing by now if the loan negotiations are going really badly.

[1347] 12/9/2023 07:12

JT But didn't 'erbert say they were going for inorganic? Can you get gas powered big wheels?