Petrolatina Energy Share Discussion Threads

[tigluck] 23/2/2012 18:06

50,000 shares have been bought every day this week at 18.5p just before the close. I wonder why?

[gingerplant] 23/2/2012 16:59

I asked Selftarde and got this back:

Further to the recent message sent to you by our Custodian please be advised that as we do not have a direct relationship with Optiva if you wish to sell your holding under the third party trading facility you would need to withdraw your holding from our service so that you can receive the certificate to provide Optiva with."

Better get on with it then - this will cost £20 by the way.

[tokyojohn] 23/2/2012 13:01

Anyone heard from Selftrade what you have to do to take up the 19.5p offer?

[esmith3] 22/2/2012 08:18

Don - thanks. I'm sure any additional info gained from the EGM will be of use to all of us here.

[cerrito] 21/2/2012 21:41

I have mine with Barclays and have emailed them to see if I can sell through the Trading Facility..anyone else have their shares with barclays?
To follow up 3482,my calculation is that there are 121.6m shares outstanding, of which 89.4m are held by Tribeca and friends and 33.2m held by third parties. 33.2mx.195 equals £6.3m compared to the £5.35m available.
You can draw your own conclusions.

[don777] 21/2/2012 10:44

esmith3,
i do not wnat to hold the shares here.

as one of the posters mentioned earlier and i agree that those dodge management could use many trick ways to dilute or devalue the minority shareholders' share value very earily.

although i believe they will sell pele later in a much better price in a whole.

it's so unpredictable in the future, if we take the offer now, at least we know what we can get, cut loss and invest elsewhere.

i will go to EGM on 9/3, and try to get some info for you.


D

[esmith3] 21/2/2012 10:07

Gingerplant - I had a corporate action notice from Selftrade yesterday but it's just bits cut'n'pasted from the RNS. I expect they will follow up with their own response and timescales shortly.

LM - I'd have thought Selftrade will action via CREST, so I don't think we'll need to bother getting certs etc.

Anyone here planning on holding onto their shares?

[liquid millionaire] 21/2/2012 09:30

Request Selftrade to get you PELE share certs ASAP and then send 'em to Optiva Securities to do the business directly GP

That is what i would do GP as you are then in control of events

[gingerplant] 21/2/2012 09:27

Thanks Optimist at large.

[optimist at large] 21/2/2012 08:06

"The Independent Directors, the Tribeca Group and the JCR Group recognise that the proposed De-listing will make it considerably more difficult for the Minority Shareholders to sell or buy Ordinary Shares. Accordingly, in order to assist those Minority Shareholders who wish to dispose of their Ordinary Shares and realise their investment in the Company, TOGI and Rorick have engaged the services of Optiva Securities Limited to operate the Third-Party Trading Facility to acquire, on behalf of TOGI and Rorick, Ordinary Shares held by those Minority Shareholders who wish to sell, for a period of two months from the date of the Circular, ending on 16 April 2012 (subject to extension by TOGI and Rorick, acting in their absolute discretion), at a set price in cash of 19.5 pence per Ordinary Share "

[gingerplant] 21/2/2012 01:41

Can anyone tell me the closing date fr the tender offer as Selftrade have declined to let me onto their site and have declined to respond to my email so far for over two working days - despite me having over £400k invested with them and being a heavy trader!!

[peterbill] 20/2/2012 21:04

Under
this Facility, Shareholders are invited to leave an instruction (Sale Notice) with Optiva, as soon as possible that
they are prepared to sell their Ordinary Shares at a set price in cash of 19.50 pence per Share. If Shareholders
wish to effect a transfer of Shares under the facility, Shareholders will need to provide Optiva with the relevant
share certificate or the relevant CREST details as soon as possible. Further information may follow in due course.


or the relevant CREST details ... do you need the share cert for this?

PB

[esmith3] 20/2/2012 16:29

A poster on the iii site says that the money set aside for the MBO does not cover all the shares held by PI's...

That's correct.

No idea if they're assuming some holders will hang on to their stock, or whether they are planning to scale back applications. Nothing about scaling back in the circular unless I missed it....

[cyfalafwr] 20/2/2012 15:48

Being old fashioned I prefer to have my shares in certificate form.Telephoned my broker Hargreaves Lansdown who did the buys some time ago.They said that for them to apply for my 19.5p the shares must to be trasferred into a HL vantage account and I must apply for this and send the certificates to them to go into the new account.

The other option was to to register with Optiva,more paperwork and time consuming.

Went with the first option

A poster on the iii site says that the money set aside for the MBO does not cover all the shares held by PI's but I havent checked the figures.

[rizzzla] 20/2/2012 15:24

just catching up with the news

i was wondering why people were selling for 17p ish now rather than waiting for the 19.5p

i recieved a tender offer for 1 batch from 1 broker and have taken the 19.5p

i contacted selftrade this morning and they were not even aware of the offer
and have passed it onto there corporate actions team. if your holding through them expect that in your mailbox shortly

nat west sent me mail but even they have given no details on selling them yet

[luminoso] 19/2/2012 19:32

hasty

It looks like the third party trading facility is operating until April 16th, so you should be able to do that. Ask your broker or the company, I would.

[hastyretreat] 18/2/2012 13:00

Is there any way we can sell the shares in the next financial year and use to offset the CGT? Or are we screwed there as well? Confused!

[don777] 17/2/2012 15:36

cyfalafwr,
many thanks for your info.


D

[cyfalafwr] 17/2/2012 15:11

I think, now, it was different with EEN , in that was it was a takeover and having had the ok from Waterford ,the biggest holder, it was a done deal and futile to try and hold on to the shares .No one I knew did that, we signed and got a cheque through the post ,no dealing fees or stamp duty .Sinochem just gave us the cash.That is what I remember.Wasnt too pi$$ed off as the shares cost me about £1.80 and I got £7.50 for them

Here it is a MBO and not a takeover as such , they want our shares and also want us to pay for the dealing costs .Thieving Barstewards.

Perhaps the rules are different as regards MBO's compared to TO's.I do not know if they are.Perhaps someone on here could enlighten us.

If you hold on to the shares and do not go through the trading facility you must go through the board at a future date should you wish to sell ,they would .where possible, match potential purchasers and sellers.

Why dont you just sell most of your holding and keep a few hundred just to be a thorn in their side

Hope all this makes sense
Regards

[don777] 17/2/2012 14:53

cyfalafwr,
did you sell your een while TP facility or still hold it?

if you still have it, do you have any idea to realise your value?

i want to hold PELE shares but have to go to the EGM to ask them.

thanks in advance.

[cyfalafwr] 17/2/2012 11:38

If you hold certificates as I do.Is it not sign on the dotted line send in your certificates .Here's the 19.5 p x no of shares ,thank you ,no dealing fees.That is what happened with EEN a while back.

Edit : late post delivery here.Just got the documents ,it appears we must pay for the dealing costs min £25 for them to take away the shares from us but no stamp duty if I read it right.

Hope all future drills are dry an that the pipeline leaks. A kick in the ba$$s again for the small investor .Happens all too often on AIM these days.

[luminoso] 17/2/2012 11:14

Anyone, who understands trades better than me, able to explain why the bid has been dropped to 15.5, when all the trades - mostly identified as buys by advfn - have been at 17.5 or 17.6 ? perhaps they are all sells and the bid figure is irrelevant ?

[luminoso] 17/2/2012 11:06

I think they are saying that if you do not take advantage of the third party trading facility, you will be left with shares that you may not be able to sell at anything approaching a fair market price as there will be no market made in the company after the facility ends. Consequently, you may either be stuck with your shares or unable to realise true value. I think we had this discussion some while back on this board and people who had been through something similar commented.
I thought third party trading facilities were normally set up for much longer than two months, or one month if you take it from the date of delisting, March 16th, but I might be wrong.
Think you should research this further and carefully before making your decision, TIGLUCK. Good luck.

[cyfalafwr] 17/2/2012 10:25

Dont think you can .You will probably have to wait for more time to get yor money if you do.