Columbus Energy Resources Share Discussion Threads

[offerman] 12/1/2018 17:59

Holly I thought they had to keep them for six months before offloading ?

[holly day] 12/1/2018 17:02

That was my thought too Garnhiem! As for their current holding....not sure they've kept them. Glad Schroders are around to mop up the loose shares though.

[jcgswims] 12/1/2018 16:43

Rossannan, try again.

[garnhiem80] 12/1/2018 16:39

Holly day: I can only guess that LIND Will have to clear their current holding before releasing shares from escrow, if they wish to avoid issuing a tr1.. although the escrow notification of 2.9% is pretty much the same but untradable. Moves the eyes away from LIND from some dodgy trading I suppose :)

[kazz] 12/1/2018 16:10

A lot of big hitters at that conference JCG
I hope we hear about some tax changes, which would hopefully bolster our share price
Regards....Kazz

[holly day] 12/1/2018 16:06

rossannan, I don't normally visit this BB, however followed your debate with Garnhiem with interest. A great discussion btw. Just wondered why you don't pop over to the other thread. Thought with a blue moniker you have the license to post on any BB.

Thanks for raising the question of the management. Impressive response. GL.

[garnhiem80] 12/1/2018 15:54

Cheers Ross, you done well to clear that up. :)

[jcgswims] 12/1/2018 15:36

TT Energy Conference 2018



Leo's speaking on Day Two - 23rd Jan

[holly day] 12/1/2018 15:27

Yes, all good in that Q & A, but I'd take some of that with a pinch of salt, i.e., the statement..."They also indicated that they would not take any action which would have a detrimental effect on the Company’s share price and were looking for further share price growth before they may consider taking any action on their shareholding."

That is not some form of a contractual arrangement, more a gentlemanly agreement with due regard for 'market manipulation'

Yes, if Leo and co can show they are heading in the right direction with their strategy and LIND have chance of multi-bagging, they may hold back off-loading for a while. But, LIND is not an investor nor an Insti as such. They may want to re-allocate those funds to another company and as such part sell their tranche....or heaven forbid, loan out stock for devious reasons!

Conveniently LIND have 2.9%, i.e., not exceeded the notifiable interest (>3%). That gives them the upper hand.

The above thoughts are not intended to be a negative spin from me, more a balanced look at scenarios.

One assumes they have already sold all their previous allocations?....else, 2.9 + previous allotment = >3%.

(EDIT: Sorry, just answering one of my own questions....2.9% is in escrow, so they don't own them yet!)

[jcgswims] 12/1/2018 15:06

Updated Questions to the Team

General Corporate

In your 11 September 2017 RNS you state that “The Company has granted Lind 17,992,308 shares, to be escrowed by Lind for at least six months from the date of issue (expected to be 23 September 2017).” Please confirm that at the end of the escrow period the 17,992,308 shares will be Lind’s to do with as they see fit.

As confirmed in the RNS of 11 September 2017, the Company at that time had successfully re-negotiated certain terms of the Lind convertible security funding agreement which involved, amongst other changes, the granting of 17,992,308 shares to Lind to be held in escrow for at least six months. As part of this re-structuring Lind agreed to increase the conversion price for the first tranche of the loan that was outstanding from 3p per share to 4.5p per share. The Company also confirmed on 19 September 2017 that application for the above-mentioned shares, together with a further 2,307,692 shares relating to the repayment of loan due for the month of September, had been made to the London Stock Exchange and that it was expected that admission to trading and dealings in these shares would commence on 22 September 2017 (subject to the six-month escrow requirements of course).

Management were very pleased with this re-negotiation which was extremely well received by the market and contributed within a month to an increase in Columbus’ share price and market cap by over 120% when compared to the share price on the day before the restructure was announced. The 17,992,308 shares currently represent approximately 2.9% of the total shares in issue at today’s date (12 January 2018).

Apart from the requirement for Lind to escrow the 17,992,308 shares for at least six months, there were no other restrictions placed on Lind who are entitled to take whatever action they wish on those shares at the end of the six-month escrow period. That said, Lind maintain a very positive relationship with Columbus management and in a meeting in early December 2017 indicated that they were very pleased with the progress achieved by the Company in recent months and were very positive about the long-term potential. They also indicated that they would not take any action which would have a detrimental effect on the Company’s share price and were looking for further share price growth before they may consider taking any action on their shareholding.

In addition, as mentioned in the RNS on 21 December 2017, the total debt outstanding to Lind at the end of 2017 had been reduced to approximately US$1.35 million. The Company has budgeted to meet all repayments due to Lind in 2018 in cash, although Lind retains the exclusive right to convert outstanding debt at 4.5 pence per share at any time of their choosing whilst the debt remains outstanding. Whilst Lind exercised their exclusive right in October 2017 to provide the Company with a second loan facility of US$750,000 that month (an amount which is included in the debt outstanding amount of US$1.35 million), Lind no longer have an exclusive right to provide any further funds to Columbus.
To summarise, the Company is very happy with its relationship with Lind, who have been extremely supportive of the new strategy being undertaken by management, and is satisfied that Lind will act in a manner which ensures the Company’s share price is not detrimentally affected by any actions they may take in future.

[jcgswims] 12/1/2018 14:59

Yes very chunky by the looks of it.

[holly day] 12/1/2018 14:46

There just has to be a chunky order on the books. Seems all sells at circa 5.9...

[offerman] 12/1/2018 12:20

And that also is why recently there were floods of sells yet the price help really well over the last few days and increased too. Thanks for explain a bit JCG

[jcgswims] 12/1/2018 12:07

3 mms on the bid are happy to pay up to 5.91 for any shares people wish to sell. There's only 1 mm selling shares at 6p but only a limited amount. I can only get a buy quote for 1000 shares at 6p which says to me that shares are in demand. And the fact that even with all the selling at 5.9 there are still 3 mms wanting shares. Maybe Schroders haven't finished purchasing yet.

[offerman] 12/1/2018 11:57

Sorry EDIT TO MY LAST POST I just re read 3 mms sat on 5.7

[jcgswims] 12/1/2018 11:42

Yes 3 MMs on the bid at 5.7 and 1 on the offer at 6

[holly day] 12/1/2018 11:22

Morning offerman. I don't have level 2, so I suspect one MM sitting on 5.7 that's skewing the picture. But am happy that they are paying 5.9 for your shares, must be more buying pressure or general stock shortage. All good.

[offerman] 12/1/2018 11:07

Bloody idiots!!! Wish the industry watchdog would stop this practice and show transparency !!!!

[holly day] 12/1/2018 11:05

Morning all. Great confidence shown by Schroders. The only way is up!

Just tried a dummy sell, seems up to 5.92 are sells. MM's games!
GL All.

[nexus7] 12/1/2018 08:44

Holding(s) in Company
RNS Number : 6717B
Columbus Energy Resources PLC
12 January 2018

[arrynillson] 12/1/2018 08:26

12bn - so now Schroders are buying to fluff out the share price - is that the best you could do12bn! You must've been close to apoplexy when you saw that RNS 12bn - try and enjoy the rest of your day!