And the bots have it under very tight control. I've seen stocks like this controlled by bots for years. |
Thoughts with you Dude! |
Sooty - thanks for your comments - they're much appreciated.
sp100 - 'I wonder if anyone here has contacted the regulators about it?'
While rebuilding my health and strength post the hospital intensive care stay - after making strong initial progress, experienced a further immunotherapy treatment induced side effect setback this week - an enlarged liver / metabolic disorder - otherwise, I would have put together and forwarded some comments. |
Thanks MT I'd missed your earlier post on it. Glad to hear your view concurs with mine and many others here. I wonder if anyone here has contacted the regulators about it? |
sp100 - as mentioned in an earlier post - agree entirely that long term investors here have every right to be thoroughly aggrieved (I am) at AK's appalling behaviour, which has fallen well short of that expected of the CEO of a quoted company.
The hugely discounted placing in which he personally benefited at the expense of most other shareholders is completely unacceptable and nothing less than outrageous after having trading in our shares suspended for circa 2 years. This placing should have been the final straw that broke the camels back and triggered AIM Regulation to step in and initiate an investigation into SAVE/AK, in order to give a very strong market signal that their rules and regulations are there to protect the investment interests of all shareholders. |
 1. There was 1310m shares in issue and at 26p valued us at £340m/$440m.
The assets were assumed to have a value of $1.5b less some $666m net debt.
Value of over £600m/$800m exceeding the net debt.
2. In addition $500m+ owed in receivables. Compensation claims of over $1200m. All put out on the day of the placing.
3. Ak said he would only do a deal if it was accretive to shareholders.
BUT then does this £30.6m placing at 7p - a fraction of what we are said to be worth.
Not even a 25% discount to the last trading price but done at over 70% discount in tandem diluting the company by 33.33%.
Yet only £20m approx comes in right away with the rest in up to 6 months .
On the face of it a complete shafting !
4. Overall he values us at just $155m approx fully diluted by September at the 7p placing.
Over 10% of that dilution doesn't happen until 4th September so therefore not immediately needed so why give that away ?
This new strategic investor will give about $10m (113.4m shares) which equates to a whopping 8.5% of the company as we then stood pre placing.
While in tandem we shaved $25m off the settlement figure of $60m at completion for Sipec just a week later which in turn now throws off at least an extra couple of $m per month with the additional oil production.
A lot of it doesn't make sense.
The $60m lenders for Sipec didn't extract such dilution. None ! We likely would have went ballistic if they did and call for the deal to be cancelled.
Therefore, is $200m of loan funding not a very, very good deal considering they get a very attractive interest rate (for the lender Blacksea) along with 12.5% of the company pre placing for about $14-$15m at 7p and now end up with 9.5% post dilution and as yet with no funding drawn down just for a loan that gives them security on assets anyway. There has to be a deal imo lined up otherwise if there never was a deal they'd have shafted us, institutions and directors, everybody unnecessarily.
Considering all of the above - then why let another strategic investor in up to 6 months away in light of point 3 when that money is not immediately needed - does not make sense imo.
Why did they report that existing institutions added ? Why did they stay invested and what did they like that TT did or didn't ?
There's no logical explanation by AK why they did this and he hasn't answered the difficult questions either because either he can't imo on the face of it as it looks a complete shafting for investors and institutions against every rationale he previously gave about value accretion and would only go for such deals on that criteria.
The strategic investor by September is the query - what are they bringing to the table to be allowed in at such a discount and possible gain from all the other assets to the detriment of existing shareholders ? Post Sipec are we really that badly off for $10m in 6 months to give away so much which leads me to -
Perhaps wishful thinking but instead of an RTO, could they possibly inject an asset in here (more than or separately to the $200m loan facility) given they're being allowed entry at such a whopping discount and huge chunk of shares.
Is this the reason possibly that AK appears to not answer the questions/bats them off for now, as to WHY ? Does he have his hands tied for now and has to brazen it out until he can say something by September or earlier that really sheds light on it ? |
Looks like there's a small chance of reaching AK's 7p purchase price after all. Just as well holders ignored AK's advice to average down well above 10p. |
Well said Mount Teide. I suppose having been through and still going through what you have gives one a whole new perspective on life. I hope you're recovering well from what sounds like a real hellish set back. Good luck and all the best. Sooty |
Life is surely far too short to waste it posting on Advfn in the arrogant, unproductive and often highly personal way many now do.
Like all sensible well researched investors I welcome and value well argued investment case criticism backed by high quality research.
Today, however, many narcissistic, Walter Mitty type characters, often with hugely overinflated opinions of their stock picking ability openly frequent Advfn and many other investment bulletin boards. With researchable equity investment track records that can make a casino roulette wheel look attractive, to prevent these often highly offensive posters from disrupting the smooth operation of the bulletin boards with and endless stream of mostly inane comment(often using multiple alias), the management has kindly provided a facility - the filter button - with which to manage your own use of the individual threads. Found it to be an invaluable aide. |
But gives access to a 200 million debt facility ..
you would be best with all the other clowns on here
STOP SELF INVESTING
U will lose the lot, and that’s if you haven’t already clown. |
And how do you know that brain box ??
This is definitely what makes a market
The blind leading the blind ! |
Calm down mate , the only person making money out of this is AK and his mates Diluting the company for in the grand scheme of things for a paltry 30m , when it's simply not needed ... |
More than you by the looks
What’s your average ? |
WM
It's Phrase not 'fraze'
If you're going to be arrogant try to look educated. |
washing machine your so clever.. well done lad. You using Casino analogy, how clever you are.. |
U heard the fraze
Like Taking candy from the children
Very very apt here.
Little boys playing in a big boys playground !
U spun the wheel, u placed on black it landed in red ❤️R05;🩹❤️657; |
Upwego
Believe me the stock market is NOT for you
Maybe a managed index fund or similar |
Of course I feel for LTS at over 40 pence
But what is done is done
At this ridiculous price , don’t let the past cloud your judgement here
This is the STOCK MARKET not bury market !!
Upwego
NEEDS to come away from the situation
He either holds or he’s gone bust
But the utter tripe he’s posting points to a doctors appointment |
"Malky like him or not is under the same impression has me , a new deal is about to land"------WMThe above probably confirms 100% that no new deal is about to land! Malcy knows what the highest bidder is willing to offer him! When critiqued he doesn't respond ! PS: you're coming across quite c#nty on here! Do you not have any sympathy for shareholders who purchased between 30-40p a few months prior to suspension only to see a rug pull by AK & his banker (with a B) mates at 7p? |
Upwego
A ex holder .. more than likely margined out of a spread bet account
Or a brokers stooge who knowingly knows what’s coming ..
I’m undecided.. due to his disgusting choice of words .. his/her grandchildren would be proud of this muppet |
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