San Leon Energy Share Discussion Threads

[plasybryn] 08/7/2022 07:43

No news do far is probably a good sign. If it was a simple deferment that could have be issued first thing. This sounds like something more involved. Chill it cometh imo

[pejaten] 08/7/2022 07:12

This is the first time they haven't issue a delay announcement by the start of the day of the previous date. Hopefully means that something will be published today or first thing Monday

[nibbles1967] 07/7/2022 21:44

I agree with G1lO

The whole point of being on an exchange is being to able trade the equities. If you can't and don't know when you can then it may as well be privately held. Yes, if it's a ten bagger tomorrow we'll all be super pleased but, as happy as I'm sure the major shareholders are, the nickel and dime ones (relatively) probably aren't

[g1lo] 07/7/2022 20:29

Oisin was confident that the deal would be finalised, accounts published and admission documents ready by the 8th but by experience with San Leon can't help to feel that we will be shafted (again)and so kicked off Aim.Very poor outcome if we are. No excuses after more than a year suspended. Doesn't matter how good the deal seems to be on paper if SLE can't get it done on time. Even if it doubled wouldn't make up for all the messing about. Trust is gone I m afraid. There s so much messing investors about one can do and get away with. Bit like Boris really.

[gary hindsight] 07/7/2022 19:10

My bet is on delay still seems they were making progress but didn't really seem to be saying it was at the cross the t's and dot the i's stage on the other agreements

[pastyman3851] 07/7/2022 16:43

So tomorrow, news or delay? Who's taking odds :)

[undertaker] 07/7/2022 08:24

beat me to it Witheco

[hpcg] 07/7/2022 00:10

paulbutcher - SIPPs can hold almost anything. ISAs can only hold securities listed on a recognised exchange. In any case your property, i.e. your ownership of a share of San Leon, cannot be taken away from you.

[hpcg] 07/7/2022 00:02

red5 - I expect that it will be difficult to value, many PIs can't value simple situations, and in any case many people will just want their money back. So I expect an impulse lower. How rapidly that is reversed depends on the terms of the deal. Bonny light is higher than a year ago but will be under pressure in the immediate period. Beyond that time though oil is clearly going much higher with producers like Nigeria falling far short of what they would like. I think the ACOES pipeline is a phenomenal asset and the oil producing potential onshore is significant. But if oil producers are under pressure when this comes back then buyers could stay clear.

[paulbutcher1999] 06/7/2022 23:38

I think (correct me if wrong) if the shares are held in pension (as mine are) then they are simply lost if this happens. You cannot take anythng out of a pension (unless over 55) and only registerd shares on AIM, ftse etc can be held in a pension. So this is catastrophic. Or ISAs less bad - you just lose the tax wrapper. Only if held i trading account is it ok (albeit still potentially a hassle).

[red5] 04/7/2022 18:42

hpcg - so you don't think this will go up when it comes back on? surely the price of oil on this one has not been factored in it wont be coming back on at the original price thats for sure.

[hpcg] 04/7/2022 15:58

Not me. Indeed I see an excellent buying opportunity emerging when the stock trades again and some people rush to the exits at well below fair value. I have cash set aside waiting to go.

[red5] 04/7/2022 15:43

Like to ask who isn't scared

[red5] 03/7/2022 15:42

clucking bell the last two post scared the hell out of me

[carcosa] 03/7/2022 06:58

There is practically zero chance of the shares being cancelled. The Corporations Act forbids a company from reducing its shareholder funds unless it is shutting down the business.

What may happen is that trading on AIM is cancelled. SLE are suggesting if that occurs they intend to re-list on AIM at a later date. That is VERY different to cancelling shares. You are still a part-owner of the business and maintain all the basic rights of being a shareholder in a private company.

As with any other asset you can buy/sell/gift shares outside of AIM although the mechanism to do so is far more onerous since dematerialisation became the norm along with nominee accounts. The biggest hurdle maybe getting your stockbroker to play nicely but if the shares are in your name then it requires a transfer notice, confirmation with SLE secretary and approval from HMRC. You can still do it with a nominee account but would probably take 6 months or more to complete the process and have to pay a lot to intermediaries plus the price you pre-agree with a buyer is likely significantly below your expectations. In practical terms it is an unlikely activity but if anyone has a significant holding and just needs some money, its possible. Presumably Toscafund would be a buyer.

If things get really difficult and an AIM listing is way off into the future then SLE could list on something like AQSE - Aquis Stock Exchange formally ICAP Securities & Derivatives Exchange Ltd and, later named NEX Exchange Ltd. That would be the best of a bad outcome if otherwise an AIM listing is years away.

[g1lo] 02/7/2022 20:09

Don't get to excited as the shares could well be simply cancelled on the 8th. SLE mentioned of the possibility on their latest RNS which I personally read as a kind of heads up so investors know what's coming. Truly hope not otherwise it means being kicked out of Aim and loosing ISA wrapper at same time (thanks SLE if it comes to it for taking too long (understatement!) to sort it all out (come on Oisin Aim gave you more than a year how long do you want?!). And then "planning" to re-introduce on Aim as a new enlarge company later (again how later) in the year. Over 10 years I have heard a lot of things that were supposed to happen and guess I m still waiting. Basically do not believe anything that you re told or read. Answer next Friday.