Edenville Energy Share Discussion Threads

[therealtonythetiger] 15/12/2020 21:25

GL with your investment

[sky24] 15/12/2020 14:08

I made the four trades on friday that seem to interest them over on LSE.

This is the reason I bought - In the interim accounts to June 30th 2020 it states the net assets are worth £6,541,900.The share price represents less than 50% of this,and this number is more than it was at the end of 2019 when EDL had more debt.

The cash owed to LIND is only $580,000,and a lot less than the original amount.This debt is approx 7.2% of the total assets of the company,and I don't reckon it's of great concern.I think the reason for the consolidation is to attract more investors,and stock that is a fraction of a penny is never very attractive to II's.

They may be a fund raise after the consolidation,but does not worry me very much.
They stated that they are selling coal - EDL may be in better shape than we think,although the cost of sales were quite high in the results.

When the consolidated shares start trading they would be at 68p if they were to represent the full value of the company - market cap £5.5 mln.

[garykc] 11/12/2020 17:26

Decent punt I would have thought for Monday.

[therealtonythetiger] 11/12/2020 17:17

denville Energy PLC
Proposed Share Capital Reorganisation & AGM Notice

RNS Number : 4457I
Edenville Energy PLC
11 December 2020

11 December 2020



EDENVILLE ENERGY PLC

("Edenville" or the "Company")



Notice of Annual General Meeting

Proposed Share Capital Reorganisation & Correction of Total Voting Rights



Edenville Energy Plc (AIM: EDL), the AIM quoted company operating the Rukwa Coal Project in southwest Tanzania announces that its Annual General Meeting ("AGM") will be held 10.00 a.m. on 5 January 2021. The Notice of AGM is being published today and will shortly be available on the Company's website at hxxps://edenville-energy.com/aim-rule-26/ .



As a result of the ongoing Covid-19 pandemic, Edenville's shareholders ("Shareholders") should note they are not entitled to attend the AGM in person unless notified otherwise by the Company prior to the AGM. The Company's Articles of Association allow Edenville to use electronic communications for sending out notices of general meetings, as such the Company will not be providing a paper copy of the Notice of AGM or Form of Proxy on this occasion. Shareholders are now able to vote online by logging on to www.signalshares.com . On the home page, search 'Edenville Energy PLC' and then log in or register, using your Investor Code which can be found on your share certificate. To vote, click on the 'Vote Online Now' button.



Proposed Share Capital Reorganisation & Correction of Total Voting Rights

The Notice of AGM will include certain resolutions relating to a proposed share capital reorganisation ("Capital Reorganisation") of the 8,145,575,092 existing ordinary shares of £0.0002 each that the Company has in issue ("Existing Ordinary Shares"). Shareholders should note that the ordinary issued share capital of the Company was previously incorrectly stated by the Company as 8,145,575,095 Existing Ordinary Shares in its announcement of 10 August 2020, rather than the correct figure of 8,145,575,092 Existing Ordinary Shares.



The effect of the proposed Capital Reorganisation will be to reduce the number of issued ordinary shares of £0.0002 each in the Company by a multiple of 1,000 (the "Consolidation"), which is expected to increase the trading price of the resulting ordinary shares proportionally. As such, following the Consolidation and the subsequent sub-division of each consolidated ordinary share of £0.20 each in the capital of the Company, into 1 ordinary share of £0.01 each in the capital of the Company and 19,000 new deferred shares of £0.00001 each in the capital of the Company (the "New Deferred Shares"), the Company expects 8,145,575 ordinary shares of £0.01 each (the "New Ordinary Shares") to be readmitted to trading on AIM. The New Ordinary Shares will have the same rights and be subject to the same restrictions (save as to nominal value) as the Existing Ordinary Shares as set out in the Company's articles of association for the time being. The New Deferred Shares are non-voting, have no economic rights and may be bought back by the Company at any time for nil consideration.



As it is proposed that all Existing Ordinary Shares held in the Company be consolidated, the proportion of the issued ordinary share capital of the Company held by each Shareholder immediately before and after the Capital Reorganisation will remain relatively unchanged, other than for changes that may arise from the rounding for fractional entitlements.



In the event that a Shareholder's holding of Existing Ordinary Shares is not exactly divisible by the consolidation ratio, such Shareholder will be left with a fractional entitlement to a resulting new consolidated ordinary share. Any such fractions as a result of the consolidation will be aggregated and, following the sub-division, the directors will, in accordance with the Company's articles of association, sell the aggregated shares in the market for the benefit of the relevant Shareholders.

The proceeds from the sale of the fractional entitlements will be distributed pro rata amongst the relevant Shareholders save that where a Shareholder is entitled to an amount which is less than £3 it will not be distributed to such Shareholder but will be retained by the Company.



Reasons for the Capital Reorganisation and update re Funding Agreement with Lind Partners LLC

The Board considers the Capital Reorganisation to be in the best interests of the Company and its Shareholders as it believes that the Capital Reorganisation should improve the market liquidity of and trading activity in the Company's shares. The Directors believe that the existing share capital structure is no longer appropriate, as the high number of shares in issue combined with the relatively low price per share is thought to result in excess volatility and reduced liquidity in the Company's shares. By proceeding with the Capital Reorganisation, the Directors anticipate that the Capital Reorganisation should improve the liquidity and the marketability of the Company's shares with institutional investors in the UK and overseas.



Secondly, plans for a proposed share consolidation were originally set out in the Company's announcement of 29 April 2019 following Edenville and Lind Partners LLC ("Lind") entering into an agreement to vary certain terms of the Company's outstanding funding agreement with Lind, that was first announced on 6 November 2018 and further detailed in the Company's announcements of 29 April 2019, 23 January 2020, 7 April 2020, 6 October 2020 and 27 November 2020 (the "Funding Agreement"). These plans were later deferred, as detailed in the Company's announcement of 6 September 2019.



The Company's Directors are currently in constructive discussions with Lind regarding the repayment terms of the Funding Agreement. Following the recent discussions, Edenville's Directors have agreed to revisit plans for a share consolidation, hence why Shareholders are being asked to approve the Capital Reorganisation at the AGM. The Directors remain confident that mutually agreeable terms can be agreed with Lind regarding the Funding Agreement, however, at this current time it is premature to reach any conclusions.

[therealtonythetiger] 08/12/2020 15:25

Stolen from Aerial on LSE
“Tanzania Electricity Corporation (TANESCO) has entered into an agreement to purchase electricity from small producers of six private companies, which will enter directly into the national grid and be used in various parts of the country”

Tweet ends?..

[zxie] 03/12/2020 11:44

Happen again

[knighty0001] 27/11/2020 18:10

Certainly a shocker. Thought we would see a red one. Kicking myself slightly but ploughed the leftovers into deltic which did well too. I will be back if the news gets positive. GLA

[therealtonythetiger] 27/11/2020 17:12

The news wasnt bad either just a bit of not much happening. Problem is they used the word uncertainty which will always spook the market. Lets see what December brings

[canny lass] 27/11/2020 16:23

The news wasn't good and the drop thereafter was expect. A buying opportunity missed. It did cross my mind this morning, but I am already over invested. Nice to see a blue end to the day.

[therealtonythetiger] 27/11/2020 15:57

Nice turn around those who sold earlier today must feel really really stupid. I mean really really stupid.

[therealtonythetiger] 27/11/2020 13:41

Day traders getting burnt..LOLOLOLOLOL

[whoppy] 27/11/2020 10:39

Need EDL coal power for this project.

[knighty0001] 27/11/2020 09:11

Good luck. I will keep an eye on this still

[garykc] 27/11/2020 08:32

That's why I kept hold of mine this morning. Looking at the previous chart, it has lept from this level before to over 1.25p in a matter of days. All crossed etc.

[knighty0001] 27/11/2020 08:19

May have sold prematurely. Someones buying alot!

[garykc] 27/11/2020 08:02

Same here too. Worse decision of my entire investing life!!!! Thought might be able to get a few bags before selling out. Might as well hold onto them now for any upside!!!

[garykc] 27/11/2020 07:27

Oh dear. My small punt is heading south big time today!!!!

[therealtonythetiger] 27/11/2020 07:17

RNS Operational and Corporate Update

Operational Update



The Rukwa mine continues to fulfil its pre-purchase orders.



The Company still expects to hand over the operations at Rukwa to its strategic partner Infrastructure and Logistics Tanzania Ltd ("ILTL") shortly, pursuant to the terms of the previously announced Coal Mining Agreement ("CMA") between the two parties.



Both Edenville and ILTL had expected this transition to take place before the end of November 2020. However, as a result of ongoing administrative issues relating to work permits between the Tanzanian Government and ILTL, principally as a result of a backlog caused by Covid-19, the transition is delayed. Both parties expect these administrative issues to be resolved in the short term and a further announcement regarding the new commencement date will be made as soon as it has been confirmed.



Funding Agreement with Lind Partners LLC - Update



The Company also provides an update regarding its outstanding funding agreement with Lind Partners LLC ("Lind"), that was first announced on 6 November 2018 and further detailed in the Company's announcements of 29 April 2019, 23 January 2020, 7 April 2020 and 6 October 2020 (the "Funding Agreement").



As announced on 6 October 2020, Lind initially requested that Edenville repay the total outstanding balance of the Funding Agreement, which is currently US$580,000 by 30 November 2020. The Company subsequently entered into discussions with Lind regarding the repayment terms of the Funding Agreement.



The Directors are confident that mutually agreeable terms can be agreed with Lind regarding the Funding Agreement, however, at this current time it is premature to reach any conclusions. There are no assurances that these discussions will result in a favourable outcome for Edenville.



Should Edenville be unable to agree mutually agreeable terms with Lind, there may be material uncertainty regarding the Company's ability to continue as a going concern unless the Company raises further capital. The Company has a number of supportive significant shareholders whom the Directors believe would continue to support the Company in such event. In the near term, the Directors are working towards reaching a conclusion with Lind with regards to the Funding Agreement.



A further announcement regarding the status of the Funding Agreement will be made as soon as practicable.

[therealtonythetiger] 25/11/2020 12:52

Not sure mate the price was dropped 15% but the spread was 20%.
It couldve been a drop to fill a big buy or MMs just fishing for some end of month action.
If there are big enough orders in at a lower price the MMs could drop it to fill em.
aimho

[knighty0001] 25/11/2020 09:48

Was that a 275k buy just gone through?

[scoots] 06/11/2020 15:15

Someone rolled five and a half grands worth.

[scoots] 30/10/2020 14:16

VRS was a much better short from 120s