Columbus Energy Resources Share Discussion Threads

[12bn] 10/7/2020 06:51

RNS Number : 2344N

Columbus Energy Resources PLC

18 May 2020

18 May 2020

COLUMBUS ENERGY RESOURCES PLC

("Columbus" or the "Company")

Holding(s) in Company

Columbus, the oil and gas producer and explorer with operations in Trinidad and Suriname, announces that it has received the TR-1 form which is set out, without amendment, below.

Contact Information:


Columbus Energy Resources Plc [phone]
Leo Koot / Tony Hawkins

Beaumont Cornish Limited [phone]
Nominated Adviser
Roland Cornish / Rosalind Hill
Abrahams

VSA Capital [phone]
Broker
Andrew Monk / Andrew Raca


TR-1: S tandard form for notification of major holdings


NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and
to the FCA in Microsoft Word format if possible) (i)

1a. Identity of the issuer or the Columbus Energy Resources plc
underlying issuer of existing shares
to which voting rights are attached
(ii) :
--------------------------------------------
1b. Please indicate if the issuer is a non-UK issuer (please mark with
an "X" if appropriate)
Non-UK issuer
----
2. Reason for the notification (please mark the appropriate box or boxes
with an "X")
An acquisition or disposal of voting rights X
----
An acquisition or disposal of financial instruments
----
An event changing the breakdown of voting rights
----
Other (please specify)(iii) :Type 1 & Type 3 disclosure as per the X
Transparency Directive II regulation
----
3. Details of person subject to the notification obligation (iv)
Name Schroders plc
City and country of registered office London, UK
(if applicable)
4. Full name of shareholder(s) (if different from 3.) (v)
Name
--------------------------------------------
City and country of registered office
(if applicable)
--------------------------------------------
5. Date on which the threshold was 13.05.2020
crossed or reached (vi) :
--------------------------------------------
6. Date on which issuer notified (DD/MM/YYYY): 14.05.2020
--------------------------------------------
7. Total positions of person(s) subject to the notification obligation
% of voting % of voting rights Total of both Total number
rights attached through financial in % (8.A + of voting rights
to shares (total instruments 8.B) of issuer (vii)
of 8. A) (total of 8.B
1 + 8.B 2)
------------------ --------------------- -------------- --------------------
Resulting situation
on the date
on which threshold
was crossed
or reached 9.761% N/A 9.761% 895,467,938
------------------ --------------------- -------------- --------------------
Position of
previous notification
(if
applicable) 10.996% N/A 10.996%
------------------ --------------------- -------------- --------------------



8. Notified details of the resulting situation on the date on which
the threshold was crossed or reached (viii)
A: Voting rights attached to shares
Class/type of Number of voting rights % of voting rights
shares (ix)
ISIN code (if
possible)
Direct Indirect Direct Indirect
(Art 9 of Directive (Art 10 of Directive (Art 9 of Directive (Art 10 of Directive
2004/109/EC) 2004/109/EC) 2004/109/EC) (DTR5.1) 2004/109/EC)
(DTR5.1) (DTR5.2.1) (DTR5.2.1)
--------------------------------
GB00BDGJ2R22 87,403,571 9.761%
-------------------------- -------------------------------- ------------------------ -------------------------


SUBTOTAL 8. A 87,403,571 9.761%
------------------------------------------------------------ ---------------------------------------------------

[12bn] 10/7/2020 06:47

From May 18th RNS on Schroders holdings in Cerp.////////7. Total positions of person(s) subject to the notification obligation
% of voting % of voting rights Total of both Total number
rights attached through financial in % (8.A + of voting rights
to shares (total instruments 8.B) of issuer (vii)
of 8. A) (total of 8.B
1 + 8.B 2)
------------------ --------------------- -------------- --------------------
Resulting situation
on the date
on which threshold
was crossed
or reached 9.761% N/A 9.761% 895,467,938
------------------ --------------------- -------------- --------------------
Position of
previous notification
(if
applicable) 10.996% N/A 10.996%

[12bn] 10/7/2020 06:35

RNS Number : 1668Q

Columbus Energy Resources PLC

17 June 2020

17 June 2020

COLUMBUS ENERGY RESOURCES PLC

("Columbus" or the "Company")

Corporate Update - Lind Facility payment in shares and issuance of Contractor Shares

Columbus, the oil and gas producer and explorer focused on onshore Trinidad and Suriname, announces a continuation, for the month of June 2020, of the cost control measures first implemented in April 2020 in response to the lower oil price environment.

As announced on 15 April 2020, the Company has implemented various costs control measures, including the issuance of shares to Lind in lieu of cash payments and the issuance of Contractor Shares.

The Company has decided that it is the best of interests of its shareholders to continue these actions into the month of June 2020 and as such will:

-- Issue 7,538,603 new ordinary shares to Lind in lieu of cash payments otherwise due in June 2020 (the "Lind Shares"). Such issuance is in accordance with the Company's rights under the 2019 Facility Agreement.

-- Contractor Shares: issuance of 9,500,000 new ordinary shares to various contractors, as part of the Contractor Shares Scheme, which has been in place since mid-2018.

The other measures for managing company costs as announced on 15 April 2020, including no cash salaries for the Executive Management, remain in place.

The issuance of the Lind Shares and Contractor Shares in June 2020 was envisaged in the merger announcement made by the Company and Bahamas Petroleum Company plc on 11 June 2020 and has no effect on the exchange ratio as set out therein.

Tony Hawkins, CEO of Columbus, commented:

"The Company continues to manage some of its third party costs through the issuance of shares under the Lind Facility and the Contractor Shares scheme. We believe that at present this is in the best interests of shareholders but we will review whether it makes sense to continue to do so given the proposed merger. "

Lind Share

[12bn] 10/7/2020 06:31

arrynillson9 Jul '20 - 16:38 - 4737 of 4739
0 0 0
12bn - like you 12bn mug punters focus on the short term and can't see the bigger picture - Lind will be history after the merger and Schroders holding will be smaller than a pimple on an elephant's backside //////// Poor deluded arry,Schroders had over 80m shares recently and Lind 11m,while both will have less now they will have enough to cause problems for a considerable time,especially as Cerp keep paying Lind with more shares every month now.

[arrynillson] 09/7/2020 22:32

12bn - desperate fabrication from a poster who's run out of ideas to troll this share - you'll soon have to resort to recycling that tosh about negative oil prices and vanishing storage 12bn!

[12bn] 09/7/2020 15:50

Poor arry,he is so upset at the share price fall. What is your average price here arry 10p,20p or more? You must have been as sick as a dog when that 20:1 consolidation wiped out the value of all those shares that you acquired between 2p and 6p old money (equivalent to 40p and 120p before the consolidation).

[arrynillson] 09/7/2020 15:38

12bn - like you 12bn mug punters focus on the short term and can't see the bigger picture - Lind will be history after the merger and Schroders holding will be smaller than a pimple on an elephant's backside but at least your current tosh is more believable than that negative oil price/ storage scare story you swallowed hook line and sinker 12bn!

[12bn] 09/7/2020 15:17

I am quite amazed that the share price hasn't collapsed today from 1.8p bid,maybe there is a mug buyer somewhere but sooner or later Schroders and Lind will push this to lower levels imo.

[arrynillson] 09/7/2020 11:44

12bn - I've published no information about my holdings so you have fabricated post 4726 out of absolute desperation - YOU on the other hand like to brag about your purchases and 'top ups ' in true rampers style so my information is accurate ( if we believe what you post about your own transactions 12bn!).

You've posted the opinion of Global Specialist but that is purely opinion - Bahamas issued rns only weeks ago indicating the drill timetable - rns is checked by NOMAD and CERP board would also have done due diligence on it - what is YOUR evidence that Global Specialist is correct 12bn - is he more reliable than those people who told you that oil would remain at a negative price because there was a storage crisis - you were mugged off then even when I explained that looking at the futures market gave you an indication of where bets were being placed!

[12bn] 09/7/2020 10:55

Be careful here Eggy as I think it will pan out just as Global says. Something will allow BPC not to drill the Bahamas and then there will be a fund raising. If the SWP gets drilled instead then the combined company will get the benefits of that drill but Cerp holders share will be under 24% rather than 100% if they had drilled by themselves. Is this good for present Cerp share holders,I don't think so.

[eggchaser] 09/7/2020 10:28

Might be better that way than commentary on why's and where fors?!

[eggchaser] 09/7/2020 10:27

Thumbs up to this post if you voted AGAINST the merger taking place.

[eggchaser] 09/7/2020 10:27

Thumbs up to this post if you voted IN FAVOUR of the merger

[kazz] 09/7/2020 10:24

Very tiresome seeing the 600k shares sold every day. Why don't they up it to 1 mill so we can get rid of them sooner
Regards...Kazz

[spangle93] 09/7/2020 10:15

Just had the notification from H-L that I can vote, which was a surprise in itself

I only have few shares too, but voted them against in principle

[12bn] 09/7/2020 10:04

-- Repayments, at Company's option, either in cash or Company shares (or both). The monthly cash payment would be US$89,066 and any shares issued would be at approximately 90% of the then current 20-day VWAP (the "Repayment Price").//////// A share price 'death spiral' for poor arry.

[12bn] 09/7/2020 10:02

The main terms of the Agreement are as follows:

-- A total of US$4.5 million available to the Company to drawdown.
-- US$1.5 million drawn down on signature of the Agreement, with the money received by the Company within 10 business days ("Tranche 1").

-- Right to drawdown an additional US$1.5 million at any time, provided the Company's market capitalisation is above US$25 million ("Tranche 2").

-- Right to drawdown an additional US$1.5 million provided: (i) the Company's market capitalisation is above US$25 million (currently approximately US$40 million); and (ii) the outstanding borrowing from Tranche 1 and Tranche 2 is less than US$2 million ("Tranche 3").

-- The following terms and conditions apply:
-- Tranche 1:
-- 120-day repayment free window before repayment of the loan commences over a 20-month period.

-- Repayments, at Company's option, either in cash or Company shares (or both). The monthly cash payment would be US$89,066 and any shares issued would be at approximately 90% of the then current 20-day VWAP (the "Repayment Price").

-- Tranches 2 & 3:
-- Repayment of each tranche to be over a 24-month period.
-- Repayments, at Company's option, either in cash or Company shares (or both). The monthly cash payment for each Tranche (if drawn) would be US$74,222 and any shares issued would be at approximately 90% of the then Repayment Price.

-- For all three tranches:
-- The Funder has the right to convert any loans outstanding into Company shares at a fixed share price equal to 130% of the Company's 20 day VWAP prior to signature of the Agreement (approximately 5.1p) (the "Conversion Price").

-- Company has the right to buy-back the outstanding balances (the "Buy-Back") at any stage during the term of the loan without penalty, although the Funder has the right to convert up to 25% of the Buy-Back into Company shares at the lower of Repayment Price or the Conversion Price.

-- Company has paid an up-front commitment fee of US$105,000 for Tranche 1 and Tranche 2. If the Company draws down on Tranche 3, a fee of US$52,500 will be payable. Apart from legal fees incurred to establish the Agreement, no other fees are payable.

-- For Tranche 1, the Funder has received 14,625,000 share options, which may be exercised within 60 months at a share price equal to 150% of the 20 day VWAP immediately prior to drawdown. For Tranche 1, the exercise price is 6.0p. For Tranche 2 and Tranche 3, additional options on similar terms and conditions would apply upon any drawdown.

-- The Funder has the right, upon certain terms and conditions being met, to re-invest up to 50% of the Tranche 1 amount (and, if drawn down, the Tranche 2 amount) on similar terms and conditions.

-- The amounts drawn-down are secured against 7,500,000 shares in the Company ("Collateral Shares") and will rank as senior secured debt against the assets of Columbus (subject to existing security). The Collateral Shares will be issued simultaneous with the receipt of Tranche 1 by the Company, for which a further announcement will be made in due course. The Funder will pay par value for the Collateral Shares and if the Funder calls upon the Collateral Shares it shall pay the Company the then current market price of the Collateral Shares called minus the par value previously paid.

Background:

[12bn] 09/7/2020 09:57

600k sell,Lind dump? I guess they will get more shares soon from Cerp.

[1waving] 09/7/2020 09:29

Jcgswims
Thanks for posting that letter. Very interesting.
Have just a few shares left in CERP now.

Voted Against.

CERP massively undervalued against BPC. CERP shareholders are being mugged.
More dilution very, very likely.
and many other factors.

[12bn] 09/7/2020 08:43

GLOBALSPECIALIST9 Jul '20 - 09:36 - 41394 of 41394
0 0 0
Well done to Pillow, Tom and Simon and Jack

Following the announcement of NO DRILLNG we will get the announcement of MASSIVE DILUTION as they run out of cash. The whole rig RNS was to get the share price up for the merger and then to raise funds through dilution as they are bankrupt. HAHAHAHA HAHAHAHA///////// This is from the BPC thread,so it looks like the Bahamas drill isn't a cast iron cert,why am I not surprised? More dilution it seems,I pity holders here.

[12bn] 09/7/2020 08:13

TIMBERRRRRRRRRRRRRRRRRrrrrrrrrrrr here soon beware.

[12bn] 09/7/2020 08:12

arry,you were wiped out here in the 20:1 consolidation,you then were holding at 7.25p bid and lost even more,is it a revelation to you that Cerp has duped you? :) ps I have consulted my crystal ball and 1.80p will go today,yours the ever help ful mystic 12bn. :)