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| Share Name | Share Symbol | Market | Stock Type |
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Posted at 13/1/2005 11:54 by pomp circumstance VANCOUVER, Dec. 23 /CNW/ -Energem Increases Stake in GGPC -------------------- Energem Resources Inc. ("Energem") is pleased to announce that it has increased its equity interest in its controlled Canadian subsidiary, GulfofGuinea Petroleum Corporation Inc ("GGPC"), from 51% to 86% by purchase of a further 35% interest in GGPC from the minority shareholders. The price for the further 35% interest in GGPC is US$4,375,000, payable as to US$2,437,500 in cash and US$1,937,500 by the issue of 1,136,418 Energem common shares at Cdn.$2.08 per share. The total investment cost to Energem for the 86% stake in GGPC is US$6.6 million. In addition, Energem advanced approximately US$1.2 million to GGPC under the terms of the US$1.5 million loan facility between Energem and GGPC to further the development of the East Orovinyare (EOV) and the JT2000/Epaemeno upstream oil blocks in Gabon to which GGPC, through two wholly-owned subsidiary companies (the "GGPC Subsidiaries"), has been awarded Production Sharing Agreements by the Government of Gabon. GGPC Issues US$20.5 Million of Convertible Debentures -------------------- Energem's subsidiary company GGPC has completed an offering of US$20.5 million of convertible debentures to a number of arms' length institutional investors. The convertible debentures will be secured by pledges of shares in the capital of the GGPC Subsidiaries. The proposed transfer by GGPC of its interests in the GGPC Subsidiaries to any separately listed upstream oil focused public company controlled by Energem is currently under consideration by Energem. In the event of such transaction, the debentures will ultimately be converted into such number of listed company shares as is equal to the proportion that the amount owed under the convertible debentures (US$20.5 million plus interest) has to the value of the GGPC Subsidiaries (as will be set out in a valuation of the assets of the GGPC Subsidiaries). If the convertible debentures are not so converted on or before May 31, 2005, the principal and all interest accrued under the debentures will be repayable by GGPC in cash on that date. The convertible debentures bear interest at 12% per annum. Interest accruing from December 22, 2004 to January 31, 2005 will be payable in cash by February 15, 2005. Interest accruing from January 31, 2005 will be added to the principal amount of the debentures for the purposes of conversion. The proceeds from the debenture issue is to be utilized to further the development and acquisition of upstream oil assets owned or under negotiation for acquisition by GGPC. In addition, a portion, in the order of some 70%, of the funds raised, will be advanced by GGPC to Energem for the purposes of further upstream oil asset acquisition and development activities of Energem and to settle GGPC's indebtedness of approximately US$1.2 million to Energem. A fee of 7% of the amount raised under the convertible debenture offering is also payable by the issue of 1,038,264 Energem common shares at Cdn.$1.70 per share, subject to regulatory approval, failing which approval the fee will be payable in cash. This news release contains forward-looking statements which address future events and conditions which are subject to various risks and uncertainties. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Energem Resources Inc. is a natural resources company listed on the Toronto Stock Exchange with projects in the energy and mining sectors in a number of African countries. Energem is committed to developing niche high margin natural resource projects in Africa and is currently active in 12 countries. Ventures encompass diamond mining and mineral exploration, mid- and up-stream oil and gas projects, energy and mining related manufacturing, trading and trade finance businesses operating off a common logistics platform and infrastructure. The company has offices and/or logistics and support infrastructure in Johannesburg, London, Beijing and a number of African countries. |
Posted at 17/9/2004 09:02 by pomp circumstance LONDON (AFX) - Financial Development Corp PLC said investor Terry Ramsdenbought a further 3.2 mln shares in the company, boosting his holding to 28.2 mln shares or 8.31 pct. newsdesk@afxnews.com jc |
Posted at 31/8/2004 17:00 by vision88 Pomp circumstanceI found you artical very interesting ,as for oops terry i mean vision i wished i had his balls that for sure, but your right on many points, as for loosing a lot in the past , hey who didnt, i certainly did, market forces ect, we are all in the same boat there, all most that is lol ,if your a broker they do have advantage over the average investor, But just look at Terry go again i think he has a winning smile dont you, lol |
Posted at 31/8/2004 16:13 by pomp circumstance Would these non payers be the same ones who didnt pay Hansard in the placing?RNS Number:4512C TradingSports Exchange Systems PLC 31 August 2004 TRADINGSPORTS EXCHANGE SYSTEMS PLC (the "Company") RESULT OF EGM IN RELATION TO PROPOSED SUBSCRIPTION FOR 30,000,000 NEW ORDINARY SHARES AT 15 PENCE PER SHARE The Company announces that the necessary resolutions were passed at today's extraordinary general meeting to enable the proposed subscription to proceed. Funds, or satisfactory assurances regarding the imminent receipt of funds, have been received from subscribers, including the largest investor, in respect of 23,333,333 shares, totalling #3,500,000. The Company expects to proceed with the allotment of these shares and to apply for admission of these shares to trading on AIM on 2 September 2004. Admission is expected to become effective on 3 September 2004. The Directors are continuing discussions in relation to the funds that have not been received and will update shareholders in due course. Whether or not any further funds are received and any further shares are allotted, the Directors remain confident that, taking into account the proceeds of the subscription, the Company has sufficient new capital to implement its business strategy. 31 August 2004 |
Posted at 27/8/2004 12:37 by merrickman Prior to the 10 for 1 dilution market markers typically on 4p 5p spread between their bid/offer - now they are 1p working on pro rata 10p spread 25%.I am intersted in taking a punt as all Hanssard need announce is Ramsden covered the short fall or ideally the original investors have coughed up. Then as paddyfool says if they announce Griffin and entered into profit share on developing Barbados plot or sold on these theorectically would rally. Only query why would Griffin PR company buy land - and why would Ramsden gift such a deal to Hansard via Griffin. |
Posted at 27/8/2004 07:48 by sandbank WARNING: This is not a share for widows and orphans - or probably for anyone with their head screwed on properly - but it should certainly be fun to watch from the sidelinesFinancial Development Corporation PLC is a financial PR firm (formerly Hansard Group) which has (allegedly) £6.5m in cash and is placing 198,800,000 shares today . There have - though - been a few hiccups on the way to the market. Many of the investors tapped to fund this placement failed to actually come up to the starting line with the cash they promised. On of the largest investors (although even he hasn't stumped up all he said he would - only £750,000 instead of £1.5m) is TERRY RAMSDEN, the entrepreneur and convicted fraudster who made and lost a fortune in the 1980s. FDC is now due to become "his" corporate vehicle and instead of doing PR become a holding tank for all sorts of other businesses including property Ramsden, once the 57th richest man in Britain, has a following among some AIM investors and shares in a number of companies, including Leisureplay, Murray Financial etc . Some have soared as Ramsden has built significant stakes. Ramsden, a keen gambler, has spent much of the past decade developing Pets, a new securities trading system. The son of a factory cleaner, he made £150m in the 1980s in the Japanese warrants market, although he was as well known on the racecourse as in the City. When the Japanese stock market slid in 1987, Ramsden's business folded and he was declared bankrupt. He was jailed in 1998 after hiding £300,000 from creditors to buy his former wife and son a house - yes brings tears to your eyes doesn't it? But don't feel too bad about it. Like a bad penny Ramsden's made a massive comeback . For connisseurs and con-men alike FDC should be an entertaining share to watch |
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