San Leon Energy Share Discussion Threads

[1kempton] 24/6/2022 09:13

Deal looks nigh on completed with rto going ahead a new Co on the cards bigger stronger and to capitalise on high oil&Gas prices, admin doc got to be a large one with all this complexity of the deal Involved

[nibbles1967] 24/6/2022 07:35

Precis:-

So some things might happen and so might some others but nobody knows about either really, despite it being a year that we've been doing other things

[witheco] 24/6/2022 07:24

There can therefore be no guarantee that the Potential Transaction will occur.

[1kempton] 24/6/2022 06:57

8th July it is then..

[rimau1] 24/6/2022 06:56

Excellent news. When Mr Fanning is delighted so am I.

[undertaker] 24/6/2022 06:33

RESET CLOCK.....

2 weeks 2 go!

[carcosa] 24/6/2022 06:04

"Should the Company not be in a position to publish the Admission Document by 8 July 2022 then it is possible that trading in the Company's shares on AIM will be cancelled. If trading in the Company's shares on AIM is cancelled the Board intends to complete the Potential Transaction and seek to have the enlarged group's shares admitted to trading on AIM later this year."

Note the section "...it is possible"; Not a certainty.

[carcosa] 23/6/2022 07:48

Suspension rules, leading to a delisting on AIM broadly fall into two categories. If the company has failed to comply with 'serious' rules such as not having a nominated advisor, been delinquent in issuing accounts, failing to have an orderly board of Directors etc., then AIM is very likely to delist the company. Then share holders will be left holding shares in a private company. Things then get messy.

If, as is the case with SLE, all the serious stuff has been complied with then the shares can remain listed for up to (usually) six month and a waiver is provided by AIM for the shares to remain listed albeit suspended.

It is not in the interests of AIM to kick companies off the market so provided they can be convinced that meaningful progress is being made by SLE then they will remain listed with a waiver being granted. However, once a year has passed that waiver becomes harder to obtain.

On a separate issue, if SLE want to cancel the shares then they must separately inform the Exchange of its preferred cancellation date at least twenty business days prior to such date and save where the Exchange otherwise agrees (usually due to dual listings), the cancellation shall be conditional upon the consent of not less than 75% of votes cast by its shareholders given in a general meeting.

Given the date mentioned by SLE coincides with 12 month suspension it is not unreasonable to believe the date was set with AIM de-listing in mind rather than corporate substantive progress being made. However with rose coloured glasses on the phrase "at the latest" could infer that corporate progress is coincidental with the 12 month suspension anniversary.

Whatever happens, not a lot share holders can do about it now.

[gary hindsight] 23/6/2022 07:11

Plas. To be honest I don't know the rules on suspension so maybe they can't roll over. Do you or anyone out there know the regulations in this regards?

[red5] 23/6/2022 02:34

Alaric - I am 40 year veteran of share trading with retirement fund of £2million.
I have a lot invested in SLE. My previous deals have been in info bank cairn energy Batm world pay etc etc always making a profit. “I others like me can and will show frustration in polite and cordial manner. So please why don’t you give it a rest”

[alaric7] 22/6/2022 20:38

give it a rest RED5, why don't you? occasionally surprise us by posting something vaguely intelligent.as for the rest of background noise here, maybe don't bother, as you're just wasting our time and your spit.

[red5] 22/6/2022 07:44

God knows but this does drag on and on.

[nibbles1967] 22/6/2022 07:18

And of course we all trust their estimates implicitly (it won't happen)

[plasybryn] 22/6/2022 06:51

"by the 24 June", not on the 24 June although the date given was qualified by the comment "at the latest" - we should also note that the RNS mentioned "that the company will seek the restoration of trading"

[plasybryn] 22/6/2022 06:37

Going to the wire.

[plasybryn] 21/6/2022 21:36

Are they allowed more time or is this it now

[gary hindsight] 21/6/2022 20:21

What's the betting on it moving dates again?

[alaric7] 18/6/2022 20:15

great post 1jbrisky. you should comment more often.

[1jbrisky] 18/6/2022 12:03

RED5, you don't seem overly suited to investing.
Sometimes stuff happens and you just have to ride with it.
If your original investment decision was sound then I don't see a problem.
Frustrating? Maybe, but nothing you can do to change that.