Jkx Oil & Gas Share Discussion Threads

[themadstork] 29/11/2021 11:30

If there is scaleback I don't see it being overly large. I have gone for 350k shares for my arb trade just in case but will be tempted to add a few more the closer we get to settlement if the 9% remains on offer.

[officerdigby] 29/11/2021 11:12

Contact broker/online chat and make sure you vote in to the buy back. As referenced earlier in the thread.

If the vote is anything to go by. Lot of holders CBA'd to vote to stop the buy back/delist so will probably miss the buy back also.

So I don't foresee any scaling back issues for those that care.

[bodroll] 29/11/2021 11:09

Many thanks RC. I am a bit nervous because I've been caught before now, and I can't offload my unlisted shares. As you suggest, it's probably better to wait. GLA

[researchcentre123] 29/11/2021 09:08

Well the only issue is whether those voting for delisting will also want to sell their shares back to the company. Seems highly unlikely to me that you'd be responsible for delisting and not want to hang on to them. Odds are they are all acting together. But if theoretically that were the case then there would not be enough money to buy all your shareS back and the offer wld be scaled back. Seems to me far less than a 10% chance and that's the current share price. Even if don't sell there will still be a price matching unlisted sales share option where you might be able to sell them.

[bodroll] 28/11/2021 21:35

I have a few of these. Can someone please tell me how to not be stuck with untradeable shares please? Am I certain to receive 42p if I opt in, or should I sell now for less? TIA

[researchcentre123] 26/11/2021 22:28

The nominees effectively disenfranchise shareholders from votes....they make it far too hard to do anything

[researchcentre123] 25/11/2021 08:51

Yup and it wasn't about helping investors, it was about helping oligarchs help themselves to investors' assets

[jaka] 24/11/2021 16:09

Still on their website,"Back in 1994 we became Ukraine's first foreign investor in the gas sector. JKX is a company that is ideally positioned to help investors access the significant opportunities now opening up in Ukraine."The first foreign investor and the last.

[jaka] 24/11/2021 15:28

It was hidden away on the website, ii, under Portfolio. The message marked with a red dot, that was on ii site, and like you say the app didn't have that facility. Wouldn't of made difference though, some of the largest shareholders, the main, didn't vote either!

[researchcentre123] 24/11/2021 14:52

The apps make it too difficult....

[officerdigby] 24/11/2021 13:40

39% not voting.. shame!

[jaka] 24/11/2021 11:34

Well, that's it. Passed and still trading at a small discount below 42p. A bird in the... And who can blame them. Cash is king and the trust in this contemptible BoD and company is zero.

[glavey] 20/11/2021 04:24

The approval of the tender offer / buyback (the 42p) is an ordinary resolution (5), hence requires a simply majority (50% +1) to carry - so it's reasonable to assume it can't fail.

It's the delisting 'special' resolutions (1-4) that require 75% +1 to carry. Those are the important ones to vote against.

[researchcentre123] 19/11/2021 22:02

What do you reckon will happen if Russia does invade? Will they continue the share buyback? The oil wells aren't in the disputed areas

[themadstork] 18/11/2021 09:41

Yes, vote against but make absolutely sure you remember to opt in afterwards as you definitely do not want to be stuck with untradable shares.

[officerdigby] 18/11/2021 09:37

Yes sure. But the resolutions on the admission card for 23rd.

As special resolutions For Against Withheld
1. To approve the cancellation of ordinary share of the Company from admission to the premium
segment of the Official List of the Financial Conduct Authority and to trading on the London
Stock Exchange's Main Market for listed securities
2. To approve the cancellation of the Company's share premium account
3. To approve the re-registration of the Company as a private limited company
4. To approve the adoption of the new Articles of Association of the Company
As an ordinary resolution For Against Withheld
5. To approve the share buyback contract, in respect of the Tender Offer

You can still vote against 5 to stop it happening. And obviously, when that is unsuccessful, opt in on the Tender form by 6th Jan.

[themadstork] 18/11/2021 09:20

I believe HL require a phone call to instruct. They do have an online option up for the tender offer though so make sure you actually opt in to that with your full holding before midday on 5th Jan, as by default you are opted out.

[officerdigby] 18/11/2021 09:14

just FYI. I contact my cheap nominee.. And I was able to give voting preferences for 23/11/2021 meeting to the chat!

Just all do that. for FUN! :-).

[researchcentre123] 18/11/2021 08:51

Yes I see what you mean! And Kolomoisky was trying for a long time before he did to get control without having to make a bid (at full price). It seems you can only get away with such actions if you are based outside of western Europe.... I wonder what would happen if a shareholder hung on after delisting. They'll no doubt sell the assets to someone already lined up....and then what? Would any of that go to small shareholders or would it all vanish?

[officerdigby] 18/11/2021 08:28

I have read that sometimes the nominee will vote in the interests of it's clients and agree that would be a vote against in this case.Most folks would did not consider this situation when setting up a trading account!I'll see if my nominee agrees. Or if there any one there that knows what they do.

[glavey] 18/11/2021 07:40

People should vote against on principle and contact their broker to be certain. However I would expect any nominees to automatically vote against the special resolutions by default in this case as it involves a proposal for delisting (unless instructed to the contrary). If they didn't, it would clearly be prejudicial to their client's interests.

If your nominee broker isn't looking after your best interest..., well, why give them your business?

If the free float cohort votes against, there is always the (perhaps remote) possibility of a fall-out occuring where one of the smaller members of the perceived concert party effectively holds a trump card and choses to use it to their advantage. These Oli folks don't always see eye-to-eye! One dissenter could tip the scales.

It's a long-shot, maybe, but what do you have to loose?

"Bad men need nothing more to compass their ends, than that good men should look on and do nothing."


A separate question is why we haven't heard anything from the senior independent director Tony Alves and the senior independent NED Dr. Rashid Javanshir. (There are 5 on the board, so one would assume it needs at least 4 of them to pass a motion to delist...)


On a lighter note, perhaps Russia will invade causing the various Oligarchs to return to Ukraine in defence of their assets where they will catch Covid, leaving the Russians to seize the lot!

[jaka] 17/11/2021 22:50

Have you ever Googled JKX, Tony Blair? Loads of stuff. This battle to get JKX on the cheap as been ongoing for over 20 years!

[researchcentre123] 17/11/2021 12:59

What you're saying makes sense. If I were Kolomoisky I'd be trying to convert as much to cash as possible as he has a good chance of it being confiscated, given fraud investigations in Israel, sanctions in America (and questions over US assets) and possibilities of political change in the Ukraine.