Jkx Oil & Gas Share Discussion Threads

[officerdigby] 06/11/2021 15:28

If anyone is seriously going to hold JKX shares through the potential delisting... Please first read the GM circular.

[researchcentre123] 05/11/2021 21:11

This is not the management's plan, it's Kolomoisky and his mates who put them in. Like I say, if they wanted it listed they'd just need to sell a few shares. So they just need to roger the small shareholders like they are and they are sitting pretty. Extraordinary that they pitched it 10 pct below the current price at the time. I've never heard of that sort of share buy back before in the UK market- higher maybe. There are rules against concert parties in this country.

[powereddrones] 05/11/2021 20:09

It's a real shame, I have been in and out of this stock for as long as I remember. If gas prices go up, JKX was like THE go-to stock to play on it. I guess the world has changed.

[officerdigby] 05/11/2021 18:39

Not too sure about that. The company was actually writing exciting RNSs encouraging share buying I think the real bosses here stepped in told them what to do ..Yes Boss

[researchcentre123] 05/11/2021 16:11

I guess they wanted to delist before the share price went up even further, as then they'd have to come up with a higher share price. The issue here is the big holders wanted it to delist so they could force the smaller shareholders to take less. If that wasn't the plan, they'd have sold a few shares between them and the price would have gone up as there would be no threat of delisting - it probably would have doubled given comparables, so they really can't pretend this is anything other than a scam to defraud the minority.

[jaka] 05/11/2021 10:11

Was it delisted on a bull run though? JKX is not listed on AIM .

[researchcentre123] 05/11/2021 09:39

I'm surprised that they don't increase the offer a bit. If they'd done it at say 50p I don't think there would so many complaints which could cause a lot of problems for Kolomoisky who seems to be controlling shareholder here. As it is the US are out to get him - I wouldn't have thought he'd want the UK interested in him too. Https://www.atlanticcouncil.org/blogs/ukrainealert/us-sanctions-ukrainian-oligarch-ihor-kolomoisky/

[researchcentre123] 05/11/2021 09:03

Same sort of deal?

[arcteryx] 05/11/2021 08:26

Anyone remember Russian focused Urals Energy (UEN)? Also delisted from AIM

[researchcentre123] 05/11/2021 06:57

Sounds like a different story - they delisted due to hard times, worked at it and turned it around. Here they are delisting to screw the minority and Rob them, forcing them to sell their shares cheap. A bit like "Hey that investment we managed for you. It's done really well. So we're changing the terms. You can only sell to us and we will pay you less than the current asking price (and we'll use your money to do it). Don't worry we won't lose out as the share was half price anyway as everyone figured we'd try screw you...."

[imnotspartacus] 05/11/2021 06:41

RC123 - Acertec delisted due to financial difficulties & there was no tender offer. You could trade the shares through Brewin Dolphin, which I tried to do a couple of times but without success which was a blessing in the end. As far as I know it didn't have anything to do with majority shareholders, the company suffered in the 'Credit Crunch'. You could still access news through the company website & via telephone.

[undervaluedassets] 05/11/2021 05:45

I think the problem here is that they are effectively screwing the small shareholder here and thinking only of themselves. It is completely shameless.

Whatever happened to bid premium?

“The directors reviewed the various advantages and disadvantages for the company and its shareholders in retaining the listing ... The directors unanimously believe that delisting is in the best interest of the company and its shareholders,” JKX said in a statement.

Er,,, precisely not no... the directors believe it is in the best interest of the directors and their mates.

The stock was trading at 45p when the 42p proposed buy out price was touted. Breathtaking robbery. To offer less than the price the company was trading at on the day of the offer is criminal. In fact, I do not think that I have ever seen the like before.

Do you think that if you hold on as a small shareholder of an effectively private company with untradeable stock you will be treated any better?

Those that think as much are dreaming.

[xxx] 04/11/2021 22:03

Yes,
Whether a public or a private company, the directors are expected to run the company for he benefit of all shareholders equally and this is patently not the case here, as we have not had the benefit of an expert valuation or full disclosure regarding assets and plans.
Tony Alves, was an oil analyst for many years at several investment banks knows this well. He, along with the other directors, in announcing the buyback, with the threat of delisting are pressurising shareholders into accepting the deal.

This seems to fit the description of fraud on the minority. I am also contacting my MP,asking them to take the matter up with the John Glen, the City minister.

[researchcentre123] 04/11/2021 22:02

What were the details last time? Same sort of thing with it being a great deal for the majority shareholders?

[researchcentre123] 04/11/2021 21:56

That's an interesting idea. Only issue is they've already shown once they'll screw the small shareholders so don't see them stopping next time. Still if it's just a small percentage of your portfolio Cld be ok

[undervaluedassets] 04/11/2021 14:16

There is an arbitrage trade here for the quick..

however these things can go very wrong.

if the 42p offer does not happen and oil and gas suddenly tank ..

[researchcentre123] 04/11/2021 12:39

Well it's presumably Kolomoisky pulling the strings here. The Americans have put a travel ban on him to the USA as they believe he robbed Privatbank and left the Ukraine govt holding the baby. If you look at the Pandora papers he comes up as having paid a company that paid the president's wife....I suppose he's underpaying shareholders because he can. I don't think good governance is his strong point. There's one argument here that he's the reason the govt won't pay jkx the money they owe them. So all in all he seems to be bad news for investors.

[jaka] 04/11/2021 12:26

"The directors unanimously believe that the exclusion from the listing is in the interests of the company and its shareholders," JKX explained.

All FIVE of them and the majority can go to hell in a hand cart.

Welcome to the Ukraine investors!

[researchcentre123] 04/11/2021 09:12

I found this article translated by Google (just look on Google news). It seems to have bigger shareholdings for some of the companies, which would mean between them presumably it's all wrapped up and the free-float would be covered :JKX Oil & Gas plc sent a proposal to shareholders to delist from the main market of the London Stock Exchange and approve an agreement to repurchase 23.3% of the shares at a price of 42 pence per share.This is stated in a statement on the London Stock Exchange."The directors unanimously believe that the exclusion from the listing is in the interests of the company and its shareholders," JKX explained.The company plans to repurchase 40.096 million shares (23.3%). They will stop trading on the stock exchange on January 5 next year. The company is expected to be re-registered as private on January 24.Following the announcement of the delisting plan, JKX shares fell 12.4% to 37 pence.JKX Oil & Gas is engaged in exploration and production of hydrocarbons in Ukraine and Russia. Poltava Gas and Oil Company, owned by the company, is one of the largest private oil and gas companies in Ukraine. It has five mining licenses and one geological exploration license. The company's shares have been traded on the London Stock Exchange since March 20, 2006.The largest shareholder of JKX is Eclairs Group Igor Kolomoisky and Gennady Bogolyubov - 27.54% of shares.19.97% is owned by Bridgewater Holdings Corp. Alexander Schnir. This share used to belong to Vitaliy Khomutynnik.Other major shareholders are Neptune Invest & Finance Corp. (12.98%), Keyhall Holding Ltd - 11.45% and Interneft Ltd - 6.17%.

[jaka] 04/11/2021 00:33

I'm a little confused over the the free-float LSE rules, some say it's 25%, so JKX are in breach of that and others say 20%. What is it? I know on AIM they are no percentage rules but JKX have a full listing. Where do those spread betting or CFD,s stand now they've been royally screwed.This thread is quickly becoming redundant! It's now not about E&P in Easter Europe, rising gas prices etc but wether we can get back some shareholder value.New BB,PPC (JKX) INVESTING IN UKRAINE

[researchcentre123] 03/11/2021 23:10

What's your view? Are they offering to buy enough shares? They look like they've got control with the top 3 shareholders but a lot of the institutions like Hargreaves Lansdowne must just be representing small shareholders

[researchcentre123] 03/11/2021 23:02

I suppose it depends on their plans. Presumably the aim was to screw small shareholders by making a situation it had to delist at and force cheap sales. Once delisted they redomicile the company to some offshore jurisdiction, sell off the assets and either pay it out or use it as a cash cow. They're buying at a pe ratio of 2 and sell at 6, tripling their money..... The issue has always been who really owns the shares and whether more than the declared amounts are in the control of the same person using nominees breaching takeover rules or they'd have had to buy out some time back. Guess we see. The whole scenario does stink though

[1knocker] 03/11/2021 22:37

This is the second time this has happened to me this year. Trans Siberian Gold taken at a knock down price, though happily I was at least in the blue. 15% down on jkx. I had just put a toe in the water with a view to building a position, so at least that is 15% of not much. Lucky I did not buy on the recent dip - I damn nearly did. I wonder if there is any chance that the price will be raised a bit?