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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Scirocco Energy Plc | LSE:SCIR | London | Ordinary Share | GB00BF1BK408 | ORD 0.20P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.025 | 11.11% | 0.25 | 3,318,554 | 08:38:30 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 0.20 | 0.30 | 0.25 | 0.225 | 0.225 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Oil And Gas Field Expl Svcs | 135k | -4.82M | -0.0053 | -0.47 | 2.25M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:30:59 | O | 1,500,000 | 0.25 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 17/4/2024 | 11:03 | ALNC |  Scirocco Energy proposes delisting from London market to reduce costs |
| 17/4/2024 | 07:00 | UK RNS | Scirocco Energy PLC Proposed Cancellation of Listing |
| 02/4/2024 | 09:03 | UK RNS | Scirocco Energy PLC Notification of major holdings |
| 19/3/2024 | 10:44 | UK RNS | Scirocco Energy PLC Result of General Meeting |
| 29/2/2024 | 10:22 | UK RNS | Scirocco Energy PLC Legacy Investment Update |
| 23/2/2024 | 07:00 | UK RNS | Scirocco Energy PLC Publication of Circular and Notice of GM |
| 19/2/2024 | 07:19 | UK RNS | Scirocco Energy PLC Change of Broker |
| 06/2/2024 | 12:27 | UK RNS | Scirocco Energy PLC Cancellation of SILOF Options |
| 06/2/2024 | 12:11 | ALNC | IN BRIEF: Scirocco Energy shareholders asks meeting to discuss returns |
| 06/2/2024 | 07:00 | UK RNS | Scirocco Energy PLC Requisition of General Meeting |
Scirocco Energy (SCIR) Share Charts1 Year Scirocco Energy Chart |
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1 Month Scirocco Energy Chart |
Intraday Scirocco Energy Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 18/4/2024 | 11:58 | SCIROCCO ENERGY 2023 | 203 |
| 27/2/2024 | 14:05 | Scirocco 25% realistic value | 97 |
| 08/2/2024 | 09:21 | SCIR | 149 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 15:31:00 | 0.25 | 1,500,000 | 3,750.00 | O |
| 14:21:54 | 0.23 | 83,971 | 189.35 | O |
| 11:59:48 | 0.23 | 2,609 | 5.88 | O |
| 11:38:05 | 0.23 | 85,775 | 193.42 | O |
| 11:11:35 | 0.23 | 405,056 | 913.40 | O |
| Top Posts |
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Posted at 19/4/2024 09:20 by Scirocco Energy Daily Update Scirocco Energy Plc is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker SCIR. The last closing price for Scirocco Energy was 0.23p.Scirocco Energy currently has 900,496,088 shares in issue. The market capitalisation of Scirocco Energy is £2,251,240. Scirocco Energy has a price to earnings ratio (PE ratio) of -0.47. This morning SCIR shares opened at 0.23p |
Posted at 19/3/2024 10:55 by tomboyb 19 March 2024Scirocco Energy plc ("Scirocco Energy" or "the Company") Result of General Meeting Scirocco Energy (AIM: SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, announces that the resolution required to be put forward to Shareholders today, following the general meeting requisition request as announced on 6 February 2024, and as further detailed in the circular published by the Company on 23 February 2024 (the "Circular"), was passed. The resolution stated "that the directors of the Company put in place a strategy to return the Company's cash to shareholders and to sell the Company's material assets and return any cash proceeds from such disposals to shareholders (subject to the requirements of the Act and the AIM rules)". The results of the Shareholder vote shown in the table below have been confirmed by a poll of votes cast carried out by the Company's independent registrar present at the meeting. Total Votes Resolution For % Against % Withheld Total Cast 1 291,308,465 80.19 71,982,983 19.81 441,240 363,291,448 Next steps Following the resolution passing, the directors will clarify the detailed steps required to return the Company's cash to Shareholders and will update the market in due course. As set out in the Circular, this process is highly likely to be implemented via a members' voluntary liquidation ("MVL"), which will involve a further general meeting being called by the Company in 2-3 months' time to seek approval from Shareholders to appoint liquidators. As part of the MVL process, the Company will also be required to seek approval from Shareholders to cancel the Company's admission to trading on AIM ("Cancellation"), which will either be sought at the same time as the MVL approval is sought from Shareholders, or ahead of time in a separate general meeting. Existing and prospective investors are encouraged to read the Circular for more information on the MVL process. AIM Rule 15 cash shell classification As the Company no longer has a mandate to pursue its investing policy, the Company is now deemed an AIM Rule 15 cash shell. Pursuant to Rule 40 of the AIM Rules for Companies, the Company's Ordinary Shares will be suspended from trading on AIM if the abovementioned Cancellation has not been concluded within six months of today's date. Should a further six months then elapse without the Cancellation taking effect, pursuant to Rule 41 of the AIM Rules for Companies, the Company's admission to trading on AIM will be cancelled. For further information: Scirocco Energy plc Tom Reynolds, CEO +44 (0)20 7466 5000 Strand Hanson Limited, Nominated Adviser and Broker Ritchie Balmer / James Spinney / Robert Collins +44 (0) 20 7409 3494 Buchanan, Financial PR Ben Romney / Barry Archer / George Pope +44 (0)20 7466 5000 |
Posted at 24/2/2024 12:16 by agneissearner Have the Board spent shareholders wisely and managed to obtain the best value for money that was available?44RJ raised an excellent question in his post yesterday at 15:53 which is relevant to the point above. "Why they didn't prioritise Ruvuma and preserve cash to stay in the game is totally beyond me" SCIR shareholders bought their shares because of the potential upside on Ruvuma and as they had lost so much money on their original investment they were willing to take the chance that it would either come good in which case they might get back their original investment or even make a profit or if not successful then they would lose all of their investment. The Board stated that they had a duty of care to shareholders and that Ruvuma was very risky and so they sought shareholders authority to sell Ruvuma and then reinvest the proceeds in the circular economy as is was the future and it was less risky. In a period from the year ended 31 December 2018 to 31 December 2021 which is a period of just 4 years the Board paid £2.132m to Gneiss Energy Ltd for consultancy fees and the current market value of SCIR is £2.7m so those fees represents 78.92% of the current market value of SCIR. During those 4 years SCIR received a net amount of £7.111m from issuing shares so the £2.132m represents 29.98% of the net proceeds. Gneiss Energy Ltd was paid a success fee for negotiating the sale of Ruvuma however shareholders do not know how much they were paid as when the Board were asked about this at the AGM they replied that the payment fell within market norms. If you look at the cumulative P&L account you will see that accountancy services fees amounted to £606k for just 5 years and the cost for 2022 was a whopping £152k For £152k you could employ a qualified full time Financial Controller for more than a year and yet the accounting related services job is a part time job. The part time job would involve the following: Maintaining day to day accounting records VAT returns Payroll run for one employee and the Board Payment of suppliers Preparation of the interim and annual accounts The cumulative cash flow shows that SCIR received revenue of just £1.457m and the turnover from GGL was not included in the consolidated P&L account of SCIR as only SCIR's share of EAG's profit/(loss) was included in the P&L. The question has to be asked how did it cost so much for accounting related services for the following years when the accounting services role is just a part time job? 2022 £152,000 2021 £ 93,000 2020 £114,000 2019 £196,000 2018 £ 51,000 The Board spent £1,293,000 on the abortive One Dyas deal when it did not have a great deal of cash and how was SCIR going to able to raise the cash if the deal had of been successful? I will leave you to judge if you think that the Board have spent shareholders money wisely and if they have obtained the best value for money. AGE |
Posted at 24/2/2024 12:13 by agneissearner Where is the share price currently compared to your average share purchase price?The current bid price is 0.30p and LSE shows that the market cap of SCIR is £3,150,000 however there are 900.5m shares in issue so 900.5m x 0.30p is £2,701,500 Now lets compare that to the total amount raised from issuing shares net of costs which is £35,059,000 2,701,500/35,059,000 X 100 is 7.7% so there has been a reduction in value of 92.3% of the net proceeds from issuing shares! Only you know what your average purchase price is. My calculations demonstrate how shareholder wealth has been decimated and it does so by comparing the current market value of SCIR to the net proceeds that SCIR have received from issuing shares. AGE |
Posted at 24/2/2024 12:10 by agneissearner As the saying goes turkeys would not vote Christmas if they had the choice so if you were a Board member of an AIM Company you have to ask yourself would you advise shareholders to vote for a resolution that puts an end to your well paid part time job?I must congratulate who ever created the Board's response document as it contains what appears to be compelling reasons as to why shareholders should vote against the resolution however I have been a SCIR shareholder since July 2011 and I have good accounting knowledge and I know how the AIM market actually works so I am going to vote in favour of the resolution to return cash to shareholders and I will provide you with facts so that you can decide if you want to vote in favour of the resolution or not! I will provide you with lots of information in further posts and so as to not overload you with too much information I have summarised below why I am voting in favour and then you can read further facts and information in my later posts. What is the Board's past record on creating shareholder value? Where is the share price currently compared to your average share purchase price? Have the Board spent shareholders wisely and managed to obtain the best value for money that was available? Was the EAG/GGL a wise investment considering the Board spent £80k on legal costs and £100k on due diligence costs as it was sold at a loss of between £725k to £875k depending upon whether the £150k of contingent consideration is received or not. How good was the due diligence to say that EAG/GGL was sold at such a large loss and that the GGL accounts for the year ended 30 September 2021 included a massive prior year adjustment as the finance leased AD plant had not been accounted for correctly? The GGL accounts were submitted to Companies House on 18 August 2022 and SCIR announced that it would acquire GGL via EAG on 25 August 2021. If the new strategy was such a great idea then why did the Board decide to sell EAG/GGL at a massive loss as they had spent a significant amount of money upgrading the AD plant and they had arranged a loan from AIB (UK) and they used it to repay the AD plant finance lease loan as a satisfaction of charge was registered at Companies house for GGL on 19 July 2023? AGE |
Posted at 02/10/2023 07:09 by tomboyb Scirocco Energy PLC Ruvuma Transaction Update (2662O)02/10/2023 7:00am UK Regulatory (RNS & others) Scirocco Energy (LSE:SCIR) Intraday Stock Chart Monday 2 October 2023 Click Here for more Scirocco Energy Charts. TIDMSCIR RNS Number : 2662O Scirocco Energy PLC 02 October 2023 2 October 2023 Scirocco Energy plc ("Scirocco" or the "Company") Ruvuma Transaction Update - Ministerial Approval Received Scirocco Energy plc (AIM: SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, today announces an update on the Ruvuma transaction. Scirocco is pleased to announce that the divestment of its 25% interest in the Ruvuma asset has been approved by the Tanzanian Minister of Energy. With this approval now received, all conditions precedent to the transaction are satisfied and Scirocco and its counterparty, ARA Petroleum Tanzania, can now proceed to complete the transaction in the coming weeks. Commenting on the update, CEO Tom Reynolds said: "Ministerial approval brings us one step closer to the impending completion of this transformative transaction, and we are grateful to the Tanzanian authorities for their support. This is a watershed moment for the Company that completes Scirocco's evolution from an investor in diverse hydrocarbon assets into an investor into cash-generative assets within the European sustainable energy and circular economy markets. We see a broad range of opportunities in these markets providing scope for low-risk, sustainable returns. We look forward to announcing completion of this long-awaited divestment in the coming weeks." For further information: |
Posted at 03/8/2023 09:52 by tomboyb August 2023Scirocco Energy plc ("Scirocco Energy" or "the Company") Ruvuma Transaction Update - Tax Clearance Received Scirocco Energy (AIM:SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, is pleased to provide an update r egarding the Ruvuma asset, in which Scirocco awaits completion of the divestment of its 25% interest to ARA Petroleum Tanzania ("APT") . Announcing Significant Progress on the Completion of Ruvuma As communicated via RNS on the 31 August 2022, the Company entered a binding agreement with ARA Petroleum Tanzania ("APT") to divest its 25% non-operated interest in the Ruvuma asset, Tanzania, for a total consideration of up to US$16 million. Since then, the transaction has gone through multiple stages of approval The Company has now received confirmation from the Tanzania Revenue Authority ("TRA") of the assessed tax liability of c. GBP150k, which was in line with the Company's expectations, and which has now been paid by the Company. The TRA issued a Tax Clearance Certificate to Scirocco on 3(rd) August 2023 representing a major milestone towards final completion. Scirocco will now write to the Tanzanian Minister for Energy to obtain the final approval of the transfer of the licence interest to APT. On receipt of this approval, all conditions precedent to the transaction will be satisfied and Scirocco and its counterparty ARA Petroleum Tanzania can proceed to complete the transaction by the amended long stop date of 31 August 2023. At completion, Scirocco expects to receive the balance of the completion payment of c. US$2.5 million (equivalent to $3.0 million completion payment less the $0.5 million advance received following signature of the agreement with APT). Following completion, as a reminder to Shareholders, Scirocco will then be entitled to receive a series of contingent payments which depend on progress on the development activity of Ruvuma: -- US$3 million payable upon Final Investment Decision (FID) being by the parties to the Ruvuma Asset Production Sharing Agreement or the JOA as the case may be. Given the progress made on the development to date, with first gas being targeted for December 2023, Scirocco is confident of receiving this payment later in 2023; -- Up to US$8 million payable in the form of a 25% net revenue share from the point when Ruvuma commences delivery of gas to the gas buyer. These payments will be made following the sale of gas has commenced and based on the current development timeline are estimated to commence in Q1 2024; -- Contingent consideration of US$2 million payable on gross production reaching a level equal to or greater than 50 Bcf. This will require consistent production over a period of time from the licence and is unlikely to be payable before 2025 at the earliest. Commenting on the update, Scirocco's CEO Tom Reynolds said: 'It is very encouraging to have progressed to this stage in the transaction and we thank the representatives of the TRA and our advisers for their diligent work throughout the process. We are now working with our counterparty APT to deliver the final approval from the Minister of Energy in order to complete the transaction as soon as possible. Completion of the Ruvuma sale will mark Scirocco's transition from an investor in cash consuming natural resource assets to an investor in cash generative sustainable energy assets. The expected cash payments from the sale significantly exceed Scirocco's current market capitalisation and the Board is confident of being able to deploy available capital into attractive platform companies such as EAG to grow shareholder value over time." ENDS For further information: |
Posted at 07/12/2022 07:53 by manual dexterity Scirocco Energy PLC Corporate Update & Investor Event07/12/2022 7:00am UK Regulatory (RNS & others) Scirocco Energy (LSE:SCIR) Intraday Stock Chart Wednesday 7 December 2022 Click Here for more Scirocco Energy Charts. TIDMSCIR RNS Number : 8253I Scirocco Energy PLC 07 December 2022 7 December 2022 Scirocco Energy plc ("Scirocco" or the "Company") Corporate Update & Investor Event Scirocco (AIM: SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, is pleased to provide a corporate update ahead of the Investor Event that it is hosting later today. The update includes various strategic targets as well as the announcement of an exclusivity agreement for the acquisition of an additional bio-gas plant. The new Corporate Presentation that is being used for the Investor Event will be made available on the website via the following link: Strategy Update At the Investor Event, the Board will provide an update on its strategic progress as it seeks to construct a portfolio capable of supporting attractive dividend yield and further growth through re-investment. To date, through the establishment of its Joint Venture with EAG (SCIR 50%), EAG has completed the acquisition of 100% of Greenan Generation Limited (GGL) and its 0.5 MWe Anaerobic Digestion (AD) plant in Northern Ireland. Since completing that acquisition in October 2021, GGL has performed strongly, generating for EAG a 12 month EBITDA estimate to 30 September 2022 of GBP602,000 (unaudited), after c. GBP375,000 of costs associated with operating investments and business development. Since establishing the joint venture, EAG has developed a pipeline of Biogas acquisitions in line with the stated strategy to acquire "bitesize" plants in the value range of GBP3-4m each. The goal is to acquire individual plants using EAG's "cookie cutter" approach whereby target assets are acquired as SPVs through a combination of debt and equity, the assets are then optimised through operating techniques and investments to grow profitability and enhance the value of each asset and the portfolio as a whole. A typical SPV is forecast to generate c. GBP850k EBITDA with enterprise value in the range of GBP7.5-GBP8.5m per plant, thereby demonstrating the appealing value proposition of the strategy. Based on the strategic objectives and current deal flow pipeline being progressed by EAG, it is the intention that EAG will, subject to securing the necessary funding, acquire two plants through 2023 and a further two plants in 2024. Should EAG be successful in converting these opportunities as guided then EAG would create a business generating over GBP5 million EBITDA per annum with an implied cash on cash multiple of c. 2.5x accruing to EAG investors. Exclusivity Agreement for target plant Consistent with the stated strategy, Scirocco is pleased to announce that EAG has entered into an exclusivity agreement to acquire 100% of the share capital in a target SPV which has been delivering consistent operational and financial results over the past 7 years, generating an EBITDA of GBP567k for its last financial year. It is EAG's expectation that its plans to optimise performance can increase EBITDA at the plant to GBP725k in its first year of ownership. EAG has completed phase 1 of its DD process using its internal resources and, following signing of exclusivity, will move into Phase 2 which includes drafting of the SPA and associated project documents. The acquisition requires GBP3.8m of acquisition capital as well as approximately GBP200k in closing costs, and will be debt funded to approximately 70% of the total. Assuming all progresses as planned, including sourcing of the necessary finance, then EAG is targeting a completion date at the end of February 2023. Further updates will be provided as and when appropriate. Tom Reynolds, Scirocco's CEO commented: "We're pleased to provide investors with a deeper dive into our strategy and the market drivers that support our strategic focus. Our JV with EAG gives Scirocco unique access to a compelling opportunity pipeline that can be converted on highly attractive and value accretive terms. The JV's initial acquisition of GGL last year demonstrates the low-risk and high-margin profitability of these assets and the value uplift that EAG provides upon completion. In that regard, we are pleased to provide the market with strategic targets that we believe can be comfortably delivered by EAG based on the pipeline being progressed. As detailed in the presentation we provide today, subject to financing being available as expected, the team is confident of building an asset base with enterprise value of up to GBP100 million by 2027. In the context of this update, we are also pleased to announce the Exclusivity Agreement that EAG has signed with a target SPV. The team's extensive internal DD on the target indicates that this SPV benefits from all the factors consistent with EAG's investment model and represents a compelling opportunity for EAG and Scirocco. While this process is still relatively early stage and formal DD is required, we are hopeful that EAG will progress this opportunity to SPA in the coming months with a view to adding a second plant to the portfolio in Q1'23. In parallel with the DD process, EAG is also progressing funding discussions and is confident that the implied multiples of these targets and the compelling market drivers that support investment into this sector in pursuit of UK's net-zero targets will ensure the most appropriate form of funding can be secured to complete any subsequent transaction." For further information: |
Posted at 06/12/2022 07:30 by manual dexterity Scirocco Energy PLC Ruvuma Divestment Update06/12/2022 7:00am UK Regulatory (RNS & others) Scirocco Energy (LSE:SCIR) Intraday Stock Chart Tuesday 6 December 2022 Click Here for more Scirocco Energy Charts. TIDMSCIR RNS Number : 6731I Scirocco Energy PLC 06 December 2022 6 December 2022 Scirocco Energy plc ("Scirocco" or the "Company") Ruvuma Divestment Update Scirocco (AIM: SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, is pleased to provide an update on the divestment of the Ruvuma asset, where Scirocco has entered into an agreement to sell its 25% interest to ARA Petroleum Tanzania ("APT"). The Tanzanian Fair Competition Commission ("FCC") has now granted its unconditional approval for the transaction and issued the Company with the Merger Clearance Certificate. The issuance of the certificate is an important step towards completion of the asset divestment. The Company continues to engage with stakeholders across the Tanzanian government agencies whose approval is required as part of the completion process. The Board now considers it more likely that completion will be achieved in Q1 2023 rather than December 2022 as previously guided, due to likely disruption around the upcoming festive period. The Company remains in discussions with all stakeholder groups and will continue to provide updates to the market accordingly. Tom Reynolds, Scirocco's CEO commented: " We are pleased to report this positive development today as we progress towards the completion of the divestment of Scirocco's interest in Ruvuma to APT. We continue to work closely with Tanzanian authorities and counterparties and look forward to completing the transaction in Q1 2023." For further information: Scirocco Energy plc Tom Reynolds, CEO +44 (0) 20 7466 Doug Rycroft, COO 5000 Strand Hanson Limited, Nominated Adviser Ritchie Balmer / James Spinney / Robert +44 (0) 20 7409 Collins 3494 WH Ireland Limited, Broker +44 (0) 0207 220 Harry Ansell / Katy Mitchell 1666 Buchanan, Financial PR +44 (0) 20 7466 Ben Romney / Jon Krinks 5000 |
Posted at 31/8/2022 17:42 by haggismchaggis "Other than for adjustments with respect to conditions precedent now fulfilled, including TPDC waiving its right of first refusal and Scirocco shareholder approval for the disposal having now been obtained, APT has agreed to enter into all of the same agreements (and on the same terms) as Wentworth Resources plc (as detailed in the Company's announcement of 13 June 2022).". The following is from the Wentworth agreement. At the time, the SCIR share price was a lot higher, such that the deal now represents 400% the current SCIR MCap. No brainer for a rerating I'd say. . Ruvuma Transaction Highlights . -- Total consideration of up to US$16 million comprised of: o Initial consideration of US$3 million payable on completion of the Proposed Transaction; . o US$3 million payable upon final investment decision being taken by the parties to the Ruvuma Asset Production Sharing Agreement or the JOA as the case may be; . o Deferred consideration of up to US$8 million payable in the form of a 25% net revenue share from the point when Ruvuma commences delivery of gas to the gas buyer; . o Contingent consideration of US$2 million payable on gross production reaching a level equal to or greater than 50Bcf. . -- Wentworth to provide Scirocco with a loan of up to $6,250,000 to meet all cash calls pursuant to the Ruvuma JOA arising between the Economic Date of 1 January 2022 and expected Completion timeline. . -- The first $3m to be drawn under the loan is interest free however any amounts drawn in excess of $3m will incur interest at a rate of 7% per annum until such time as the grant of the security in respect of the loan is approved by the Minister for Energy in Tanzania. . -- The total consideration represents over 200% premium to Scirocco's current market capitalisation. |
Posted at 14/7/2022 16:15 by knightrider69 Here it isEXPOSE: Scirocco Energy Gneiss Work If You Can Get It, Part TwoBy Nigel Somerville, the Deputy Sheriff of AIM | Sunday 10 July 2022Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.I have been peering into the world of AIM-listed Scirocco Energy (SCIR) formerly Solo Oil (SOLO) and the fruits of its relationship with Gneiss Energy (run by Jon Fitzpatrick). In part one I looked at the deal to sell off the now non-core asset of Ruvuma in Tanzania and wondered what shareholders had to gain from the deal. But there is another deal which smells all wrong to me.I mentioned in part one that Gneiss/Jon Fitzpatrrick had made £2.1 million out of the relationship between 2017 and 2021. That's a pretty hefty payment for a company with a current market capitalisation of £3 million made all the worse by the fact that the share price has declined by some 83% since the start of 2017 (after one takes a 20-1 consolidation into account).But now I want to take a peek at another deal: the £1.2 million investment into Energy Acquisitions Group Ltd (EAG) as part of a new investment strategy to invest in sustainable energy and "circular economy" (whatever that is), as approved at the 2021 AGM on 9 July. Part of the AGM dealings was to do with a reorganisation of the Board, when Gneiss boss Jon Fitzpatrick stood down as a NED so he's hardly an independent voice but ties remained as the relationship with Gneiss carried on.The deal was completed as announced on 25 August 2021, when we were told:· Scirocco Energy has completed its £1.2m investment into EAG and subsequently owns 50% of EAG (https://www.energy- |
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