Scirocco Energy Share Discussion Threads

[goggin] 25/4/2024 14:59

Check out Aminex risingNews on the way, how will this impact Sciroccohttps://twitter.com/AminexPLC/status/1782684876048679041?t=FvLrPnjnf2HgzVq71NTVXA&s=19

[goggin] 25/4/2024 13:18

News on the way re Aminex- price action rising

[goggin] 25/4/2024 10:25

https://twitter.com/AminexPLC/status/1782684876048679041?t=Al7fz-Ur_nuhlMtj7Va4rQ&s=19

[goggin] 24/4/2024 15:20

But will the money get paid out eventually and not be eaten up in fees? Tgere is no guarantee of any pay out either in the bear future or distant future and the shares won't be traded. If there was belief in the market and in Tanzania, this should ve worth at least x5 to x10 the curren price of 0.0025p.Agree or disagree with analysis

[agneissearner] 23/4/2024 09:34

Make sure you exercise your right as a shareholder to vote in favour of the Members Voluntary Liquidation.

If you look at the RNS dated 1 March 2023 you will see that a new NED was appointed and he is representing GP Jersey who requisitioned the General Meeting to vote on the MVL.

The NED is going to act in GP Jerseys best interest which is also in the best interests of all shareholders.

Assuming we receive all of the Ruvuma consideration then my calculations show that the expected cash return via an MVL is substantially higher than the current bid price.

If shareholders do not vote to approve the MVL then it is costing 400k pa for the AIM listing and we do not have any business generating turnover and profits to pay for the listing costs and Boards remuneration so the cash is gradually being spent with no benefit for shareholders.

The Board cannot issue any more shares as our shareholders group blocked them from doing so.

The Board sought shareholders permission for more time to do a potential RTO or find further investment opportunities but with such a poor record it is no wonder the shareholders voted 80.18% in favour of the MVL.

I am not going to buy any shares in any Company’s that include the Chairman or previous members of SCIR’s Board or advisors!

There is well known saying which is “Once bitten, twice shy!”

It is a wise decision to judge Boards on their past performance rather than believing the words they write in General Meeting requisition response documents!

AGE

[andyalbi71] 18/4/2024 10:58

He was after block energy too .... So glad we scuppered his bid..... he's a locust pure and simple

[goggin] 17/4/2024 16:53

Aminex gas gobe crazy, bad timing

[andyalbi71] 17/4/2024 11:39

You need to reallocate to BLOE..... we are on the rise , mainly because the bunch of shisters that took over here didn't get their grubby hands on us ... Carbon Capture and 4 projects ... mainly P3 for now worth over 10bn and market cap at mo only 8m .... JV or buy out looming

[tomboyb] 17/4/2024 11:09

If this goes private, you can bet your bottom dollar there will be a lot of added costs -

[goggin] 17/4/2024 10:40

This should be voted down, we'll never see any money from this showerLook at the aminex twitter feedhttps://twitter.com/AminexPLC/status/1780512343597736244?t=UGmDuc3FPhFh9OJWAvOs5Q&s=19

[tomboyb] 17/4/2024 08:54

Gneiss made a tidy packet off scir -

equity holders shafted -

TIDY is probably an understatement -

[westendwinston] 05/4/2024 21:35

Be lot more than 0.15p if Gneiss & hadn't sucked heaps of cash out . Disgraceful under watch of a hopeless chairman

[wong77] 04/4/2024 15:47

How much 0.15

[dhelect] 19/3/2024 19:20

My question relates to the fact it's going into liquidation therefore with over 900400000 shares in circulation how much is each share going to be worth?

[westendwinston] 19/3/2024 17:20

Be worth a lot more once Fark that useless chairman carnt off

[dhelect] 19/3/2024 16:54

Anyone know what the total value of assets and cash are worth?

[tomboyb] 19/3/2024 10:57

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.

[tomboyb] 19/3/2024 10:55

19 March 2024

Scirocco 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

[phone]

Strand Hanson Limited, Nominated Adviser and Broker

Ritchie Balmer / James Spinney / Robert Collins

[phone]

Buchanan, Financial PR

Ben Romney / Barry Archer / George Pope

[phone]

[agneissearner] 15/3/2024 08:13

To All Scirocco Energy Shareholders,

This is the last day to vote, so please ensure you have voted on all your #SCIR shareholdings.

Vote “FOR” all resolutions to be passed. - If you want cash returned to shareholders.

If the money from the Ruvuma sale is NOT distributed to shareholders, it will be wasted on management salaries, advisors and PLC costs!

[westendwinston] 13/3/2024 08:42

This company wasted £5-10m under Fergus watch. Sucked out by his crony mates. They takes cash and scarpered. Time to sack him too . Absolute embarrassment. Nothing "world class" at all. Just one big heist with Fatzpatrick

[agneissearner] 27/2/2024 14:05

They also stated the following

"During the course of our investigation, we have also been contacted by two non-mineral resource companies. Discussions with these more financially advanced entities indicate there is potential for us to move into Artificial Intelligence / Entertainment, Financial Services or other sectors. These warrant further investigation and we have therefore expanded our RTO investigation of opportunities beyond the mineral resource sector."

Well that should keep the Board busy for much longer while us poor old shareholders are waiting for the remaining cash to be distributed to shareholders.

Are there any Countries or Sectors that they have left out as being yet another excellent opportunity?

AGE

You just have to love the AIM market!!!!!!!!!

AGE

[agneissearner] 27/2/2024 14:04

Out of interest for members of the Shareholders Share Action Group have a look at the Amur Minerals LSE forum and RNS's

It paid out a special dividend of 1.80 pence per share and they issued an RNS dated 6 March 2023 saying the following:

The Directors intend to seek to acquire another company or business in exchange for the issue of Ordinary Shares in a single transaction (a "reverse takeover"), which will only be able to go forward with shareholder approval

They then issued a further RNS dated 25 September 2023 stating the following :

"The board of Amur continues to review a number of reverse takeover opportunities. Geographically, these have been located in Canada, the US, Scandinavia, Spain, Brazil, Peru, Chile, Ghana, Mali, Kenya and Australia. Commodities have included potash, silica, alumina, copper, nickel, gold, silver, metallurgical coking coal, energy fuels substitutes, lime and lithium. A total of 17 opportunities have been considered."

See RNS below dated 6 March re the sale of the licence and the RNS dated 14 March 2023 re the 1.80 pence special dividend and it is now the 27 February 2024 and no further information while the CEO earns $316k pa and the total remuneration for the Board for 2022 was $486k !

Those 17 opportunities are certainly keeping the Board very busy!

AGE

30 Nov 2023 11:41 AM

Amur Minerals Corporation NPV (AMC)

RNS

Annual General Meeting Results

13 Nov 2023 07:00 AM

Amur Minerals Corporation NPV (AMC)

RNS

Notice of Annual General Meeting

25 Sep 2023 07:00 AM

Amur Minerals Corporation NPV (AMC)

RNS

Interim Results 2023

07 Sep 2023 07:30 AM

Amur Minerals Corporation NPV (AMC)

RNS

Suspension - Amur Minerals Corporation

07 Sep 2023 07:00 AM

Amur Minerals Corporation NPV (AMC)

RNS

Suspension of trading on AIM

15 Aug 2023 09:30 AM

Amur Minerals Corporation NPV (AMC)

RNS

Cash shell update

08 Aug 2023 07:00 AM

Amur Minerals Corporation NPV (AMC)

RNS

Cessation of discussions with Ascent Resources plc

30 Jun 2023 03:05 PM

Amur Minerals Corporation NPV (AMC)

RNS

AUDITED FINAL RESULTS

02 Jun 2023 07:00 AM

Amur Minerals Corporation NPV (AMC)

RNS

Statement regarding possible offer

24 May 2023 04:28 PM

Amur Minerals Corporation NPV (AMC)

RNS

Dividend Declaration

14 Mar 2023 01:00 PM

Amur Minerals Corporation NPV (AMC)

RNS

Receipt of Funds

06 Mar 2023 09:34 AM

Amur Minerals Corporation NPV (AMC)

RNS

Completion of disposal of Kun-Manie for US$35M

[agneissearner] 25/2/2024 12:00

It is interesting to note that the expected net proceeds from Ruvuma were expected to be £11.828m on the 31 December 2021 however on 31 December 2022 it was expected to be £7.605m so a reduction of £4.223m in just a year.

The question has to be asked why did it decrease by so much!

It then increased to £7.986m on 30 June 2023

You will notice the wording Loan to ARA however ARA are providing a loan to SCIR rather than SCIR providing a loan to ARA.

The Board clarified the situation with the loan and that is that the loan from ARA to SCIR is not being paid out of the $16m it is going to be paid in addition to the $16m.

AGE