Longboat Energy Share Discussion Threads

[spooky] 29/11/2019 13:38

Seller obviously still there,intriguing.

[spooky] 29/11/2019 11:40

Yesterday's trading was bizarre in the extreme.

[jusmasel99] 29/11/2019 11:28

From Malcy's blog just now ...

Longboat Energy (LON:LBE)

I mentioned Longboat Energy yesterday as it was first day of dealings and whilst I wasn’t expecting fireworks I did expect it to go to a reasonable premium on the day, after all this is a company with substantial attributes. It has a full team of experienced management working to a previously successful model. Initial financing of a modest £10m was sourced easily and the company has a blue chip list of shareholders who are aware that further substantial raises will be needed when appropriate acquisitions are made.

So I was as surprised at most to see the stock end at a discount amid a flurry of accusations on social media about book manipulation and so on. With some further investigation it appears that a substantial seller appeared in the market, filling in all the buy orders and rather disrupting the market. Whilst anyone who has been awarded stock in the placing is obviously entitled to do what they please with it in the aftermarket I am rather surprised that a 2/3p turn lured and it created a bad start, now if I had a little list…..

[thedudie] 28/11/2019 11:37

Just surprising - given what happened at Faroe and assuming they wanted to keep hold of this one.

Obviously doesn't stop them buying if price falls before first deal gets underway or even at a higher price.

[wadger01] 28/11/2019 11:32

£800k at same level, doesnt seem insignificant

[thedudie] 28/11/2019 11:22

Surprised only 8% of shares remain in Exec hands....if that is correct?
Doesn't seem much skin in the game - especially when expecting further capital raises?
td

[jusmasel99] 28/11/2019 10:39

Message from II regarding stamp duty "There is no stamp duty on transaction through AIM when the company's
shares that you are trading has applied for their exempt status. In cases where
they have not, stamp duty is charged the same." Have messaged Longboat about it.

[wadger01] 28/11/2019 10:30

I'd imagine so - no point selling below £1 otherwise

[spooky] 28/11/2019 10:15

Decommissioning liabilities MF.

[mad foetus] 28/11/2019 10:12

Can't see why this would trade on a premium: look at RRE, which is producing 20,000 bopd and is trading at less than net cash. Isn't that an easy comparison?

[jusmasel99] 28/11/2019 10:01

OK so you cant post links on this board

[jusmasel99] 28/11/2019 10:00

Proactive comment

[...]

[spooky] 28/11/2019 09:51

Possibly but i would have expected this to be trading at a 20% premium, not flat. Good buying opportunity unless someone knows something that i don't.

[jusmasel99] 28/11/2019 09:45

NOt sure how it all works but I presume the cost of the placing (£600k or so) will be covered by the sale of shares? Maybe that is what is being sold at the moment.

[jusmasel99] 28/11/2019 09:03

But they have got it wrong of course and charged stamp duty. Need to move from II I think....

[jusmasel99] 28/11/2019 09:01

Can buy now on II so I am in.

[zengas] 28/11/2019 08:56

Took a small holding. Barcs slow to get it on their system and still not up. II up and running.

[wadger01] 28/11/2019 08:53

Yeah managed to buy some this morning - like the story here and the fact that all money in at the same level is a refreshing change.

[avsome1968] 28/11/2019 08:48

Anybody bought into them yet

[jusmasel99] 28/11/2019 08:38

II tell me that I can't trade in them yet because they don't know if it can be traded through an ISA. And when they find out they can and fix it I will have to pay the price at that time. IT should be their problem not mine.

[spooky] 28/11/2019 08:33

Where are all the shares coming from to fill the buying?

[bobby1904] 28/11/2019 08:24

Admission doc is the correct one. ADVFN always goes wrong on 1st stock trades. Teething issues with LSE etc

[pro_s2009] 28/11/2019 08:23

You will probably find that some LBE data is linked to the past company that used that ticker......will take time for things to normalise and be correct.

[spooky] 28/11/2019 08:20

The admission document says there are 10,000,000 shares but ADVFN has the market cap as £23m. How many shares are there?