Nu-oil And Gas Share Discussion Threads

[shujja1] 05/5/2021 07:16

TIDMNUOG

RNS Number : 4977X

Nu-Oil and Gas PLC

05 May 2021

5 May 2021

Nu-Oil and Gas plc

("Nu-Oil" or "the Company")

Update on Proposed Acquisition of GUARDIAN and

Cancellation of trading on AIM

Nu-Oil and Gas plc (AIM: NUOG), the AIM Rule 15 cash shell, is pleased to provide shareholders with an update on progress towards completing the proposed acquisition of Guardian Maritime Limited and Guardian Barriers IP Limited (together, "GUARDIAN"), the application for the admission of the enlarged ordinary share capital to the Official List by way of a Standard Listing under Chapter 14 of the Listing Rules ("Standard List") and to trading on the Main Market for listed securities of the London Stock Exchange ("Main Market"), proposed Board changes and cancellation from trading on AIM pursuant to AIM Rule 15.

Update on acquisition of GUARDIAN

The transaction to acquire GUARDIAN, as announced 8 March 2021, is progressing with the assistance of the Company's advisers and the draft prospectus is expected to be submitted to the FCA imminently. The parties remain committed to finalising the transaction as soon as possible and are targeting completion and admittance to trading on the Main Market towards the end of this quarter.

Proposed Board Changes

As part of augmenting the Company's expertise to be able to execute its new business plan efficiently and effectively, and further to the Company's announcement on 8 March 2021, it is now proposed that Mr. Philip Campion will assist the Company as a Brand Ambassador, where his experience, contacts and guidance can help support new product research and development as well as access channels for both product awareness and distribution to a large audience of relevant potential customers.

The Company proposes that Mr. Max Williams be appointed to the Board as a Non-Executive Director, on completion of the proposed GUARDIAN transaction. Max is a Chartered Accountant who has worked in the natural resources sector since 1994. Until 2019 he was CFO/Finance Director of Aminex PLC, an international oil and gas company listed on the London Stock Exchange. Since November 2019 he has been Finance Director of Great Western Mining Corporation plc, where he also acts as Company Secretary.

Cancellation of trading on AIM:

Further to previous announcements, Nu-Oil confirms that the cancellation of the admission to trading of the Company's ordinary shares on AIM will take effect from 7.00 a.m. today, 5(th) May 2021, in accordance with AIM Rule 41. It is not anticipated that trading in the Company's shares will resume until the GUARDIAN transaction has completed and the Company has been successfully admitted to the Standard List.



Enquiries
Nu-Oil and Gas plc Tel: [phone]
Jay Bhattacherjee

Strand Hanson Limited Tel: [phone]
Rory Murphy/Ritchie Balmer

Novum Securities Limited Tel: [phone]
David Coffman/Jon Belliss

The information contained within this announcement is deemed by the Company to constitute inside information.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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May 05, 2021 02:00 ET (06:00 GMT)

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[shujja1] 05/5/2021 07:15

Big name on board

[taxibabe] 04/5/2021 14:41

"Material Write Down" on an already tiny consideration that c4 was believed to have paid for the debt from SHARD, its pennies my friend"

[helpfull] 04/5/2021 12:51

From RNS dated 8th March 2021, the company stated:

" it has agreed, in principle, with C4 Energy Ltd ("C4"), the Company's largest creditor, as part of this transaction to restructure the outstanding debt obligation of £2.5 million. C4 remains supportive of the Company and the Proposed Transaction and has therefore agreed a material write down of the debts face value, which will then be settled through the issue of new Ordinary Shares on completion of the Proposed Transaction alongside new warrants".

Never stated what "a material write down" means and certainly never said the debt has been written off. Beware the warrants. 50% of this debt repayment is going to "Andy" and Jay it would appear as they control 50% of C4 Energy shares. It has never been stated how much was paid for the debt. What's not to like.

[taxibabe] 04/5/2021 12:09

The debt that you refer to has been meaningfully written down or written off

[taxibabe] 04/5/2021 12:08

Yes half a penny starting price to allow the nervious nellies out, then on to 1p

[helpfull] 04/5/2021 08:41

Things were easier then. Simple times. The days when the debt was held by C4 Energy and the directors of C4 Energy were Parsons and Fumagalli. I think Dennan and Jay were shareholders with Parsons and Fumagalli. According to Companies House Parsons and Fumagalli have ceased as directors of C4 Energy on 31st March 2021. That leaves Parsons, Fumagalli, Dennan and Jay as equal shareholders in C4 Energy according to the latest confirmation statement on Companies House. Does that mean they are equally owed a slice of the £2,500,000 debt owed by Nuog to C4 Energy in the form of loan notes?

[marbur05] 04/5/2021 08:26

Is that 0.5 pre consolidation / pre raise.

[taxibabe] 04/5/2021 08:02

0.50p minimum, but it could be higher. The extra 2.5 billion shares you keep talking about are not required as the price will be a lot higher than 0,0002 for the next issuance. Your working on the price of the last emergency issuance before the GUARDIAN MARITIME DEAL happened or the LSE accepted the listing. I would say any further shares will be listed at least 0.0020p or 10 times higher

[marbur05] 04/5/2021 05:45

Taxi, listed already you say without approval.... Whats your prediction price again....

[marbur05] 03/5/2021 16:30

A1, SEABISCUIT, LT, TAXI.... Better take one last look at those golden nuggets of yours before they phoooof into the gas that never was.... Wont be seeing any of them again anytime soon..... Been a pleasure chaps...... Xxx

[marbur05] 02/5/2021 12:00

God i wish i had bought pre suspension then i could be quids in with the nailed on recycling project, oh hang on that failed, i mean the 50k profit market player not leader mom and pop niche niche plastic maker a locked in shareholder had to bring them.... I wouldnt be scared of the monstrous dilution inbound.... Thats i fit relists first, you think they have the internal skillset for that.. Get inline for a slice of the pie, shareholders are nailed on last to benefit here....

[marbur05] 02/5/2021 09:01

So the lse dribbler now believes 30bag..... Hahaaaaa..... Highly doubtful this will even relist.

[taxibabe] 01/5/2021 12:55

Your refering to YIng Tong or Secret blueprint , both miffed they did not scoop these up at below 0.001p

[taxibabe] 01/5/2021 12:54

Absolutely, nothing to do with Minty or the old MfDdevco

[taxibabe] 01/5/2021 12:52

Time to change the record barnes

[barnes4] 30/4/2021 23:36

Good old oil n no gas ⛽️

[shujja1] 30/4/2021 14:51

1 3p i would say 60 million market cap. New business its like a new company coming to the market

[marbur05] 27/4/2021 06:50

Some sobering reading on lse last night.... Few more believing this is practically worthless, lack of board interest, wont amount to much.... And wont be anywhere near the wild and ridiculous valuations some of you dribblers are coming up with

[taxibabe] 26/4/2021 12:39

Your calculation assumes that the shares will be issued at 0.002p which was the price of the emergency rights issue in a delist situation. A listing price could be expected to exceed that price by multiples. I am looking at no more then 6 or 7 billion pre consolidation post dilution. Naturally at the 1st and 2nd year 1 million gbp in shares will be issued but by then the price should be a lot higher so dilution should be minimal

[marbur05] 26/4/2021 12:23

3 bn does not include tbe 1bn for 200k. So they need at least a mil so thats anothet 3-5bn to be added not forgetting all the shares in lieu of deby..... Couldnt possibly get over 10bn shares.... What wkuld that do to the price... But its all good its vakue will be 60m according to a1.... Hahaaaaa

[taxibabe] 26/4/2021 11:40

3 billion shares, a good many of those are in safe hands i.e gary smith, or the insiders who bought the emergency rights issue - 1 billion shares - so maybe 1 billion in the hands of joe public. Out of these, most were purchased years ago for prices over 20p so the average holder only has maybe 10000 to 20000 shares. Some a lot less. Its not worth the board considering them as meaningful holdings.

[marbur05] 26/4/2021 10:33

Come on get a grip, they bought a cheap listing, do you really think this outfit want baggage of 3bn shares, going to be hard enough making a return for their new investors let alone carry MINTY deadweight. Stop babbling about 1p plus to lure people in.... Nuog shares will all be wiped out a transformstional deal will make no difference.

[taxibabe] 26/4/2021 09:57

Why shouldnt long term holders be rewarded in an RtO?