Sirius Petroleum Share Discussion Threads

[solarno lopez] 24/11/2015 14:19

Never was anything untoward

[drrichard] 24/11/2015 14:18

Just a niggle then, no subterfuge or corporate shenanigans

[ruedolf] 24/11/2015 14:05

At least the annual return has now being submitted.

Looks like there was some problem with the allotted shares in june ..... Probably capita's computer on the blink again !

......

" 24 Nov 2015 Statement of capital following an allotment of shares on 24 June 2015 GBP 3,269,063.3900

This document is being processed and will be available in 5 days.

24 Nov 2015 Annual return made up to 16 July 2015 no member list
Statement of capital on 2015-11-24 GBP 3,269,063.3975

This document is being processed and will be available in 5 days. "

[witchywoo] 24/11/2015 14:01

only one avatar for me, that's enough

[jimduggan] 24/11/2015 13:51

I have one

[drrichard] 24/11/2015 13:38

Depends what they are trying to hide I guess Keya

[keya5000] 24/11/2015 13:37

Who keeps creating the multi avatars here?

Is there any real need for it?

[witchywoo] 24/11/2015 13:35

Makes sense Boricom - still doesn't explain the S&OG Ltd dormant company changing the purchase value of shares by £26m+

[minichris] 24/11/2015 13:31

Edit - I take this back, they are different companies, I didn't check the admission document properly - d'oh

[boricom] 24/11/2015 13:25

I think you are barking up the wrong tree. The SO&G that bought the shares is the BVI (or Cayman, whatever) one which is not part of the group. The UK company is the group company which has been dormant for many years

[witchywoo] 24/11/2015 13:17

vanishing shares, shares changing value mysteriously - it's dodgy as hell

[dr rosso] 24/11/2015 13:10

Highly incompetent or highly devious?

Fladgate is a top class legal outfit + 2 eminent barristers (Kelsey-Fry and Burton)are engaged as consultants, with annual salaries and share options.


SOGL shareholding in SRSP was made to disappear

[drrichard] 24/11/2015 13:08

1alfi and htrocka, would Segmental Reporting hide this sort of thing, and allow some preparatory work to proceed on the quiet? Furthermore it might allow for a hard pressed rig company to see a "banker's order" to attest to funds being available to back up the request for plant to be moved on site?
This would allow a prompt start when the go-button is pressed? All conjecture of course

[htrocka2] 24/11/2015 13:03

'Accordingly, SO&G's interest in the Company will increase to 58,000,000 shares representing 11.54% of the enlarged share capital'

doesn't sound very dormant to me...

[witchywoo] 24/11/2015 12:58

A dormant company is one that has no ‘significant accounting transactions’ entered into its accounts during a financial year.

So I don't see how £26M could sneak in between 2012 and 2013. The figures submitted in annual returns don't account for this discrepancy nor do any other submitted documents that I can find.

Also I don't see how this could have been used as a 'share shuffling' vehicle

I am however, not an accountant

[htrocka2] 24/11/2015 12:56

1alfi.... you never know, it could be related to the question why ORORO 95 Ltd was floated as an SRSP subsidiary.(as there's no requirement for the Parent Company to inform shareholders of the work attributed to its subsidiary)

[1alfi] 24/11/2015 12:48

If there is or has been £31 million available to srsp via sirius oil and gas, then this puts into perspective any urgency regarding the drilling of ororo. Or could sirius oil and gas be a vehicle through which ororo has already had some drill work completed ?

[htrocka2] 24/11/2015 12:48

I also couldn't help notice that Fletcher has been recorded as 'Resigned'... yet his 22.5m shares at 0.5p that were supposed to have been admitted to trading on the 6th of October and would have taken him over the 3% barrier...have not been recorded yet.(surely not another Annul Report adjustment?)

[htrocka2] 24/11/2015 12:08

In the 2014 accounts it's recorded as a 'dormant' company....yet the fact remains that SO&G has been used as a share shuffling vehicle.

[witchywoo] 24/11/2015 11:57

the £3,033 per share is actually £3.33 - so nothing to note here

there is a a discrepancy though - the shares were originally bought at £3.33, the annual return of 2012 shows them at 8,881 x £3.33. with 100% of shares (10791) owned by SRSP plc

All annual returns from 2013 then show them as 8,881 x £3,033, but the other shares are as before, again all 10791 owned by SRSP plc

how can just those 8,881 shares have jumped by a factor of 1,000 while the company was dormant ???

[the shuffle man] 24/11/2015 11:40

Dr R

Don't understand what this means.

Are you saying that SRSP paid £31m for 10,791 shares in Sirius O&G that appears to be a dormant company with no assets.

The accounts are also late.

TSM

[witchywoo] 24/11/2015 11:29

DrRosso - the only shareholder listed on recent annual return is Sirius Petroleum PLC - they have 100% of the shares (10791), which have cost £31m

so, er, where is that £31m ?!?!

ok, so you corrected your post while I was writing this ;)

I notice the accounts for SIRIUS OIL & GAS LIMITED are overdue, from 30th Sept 2015 - shocking

[htrocka2] 24/11/2015 11:29

So I can assume it's the Cayman Island Company that owns this lot.?
(which implies they were intent on being devious from the outset)







n addition to and at the same time as the Placing, the Company will issue an additional 12,000,000 Ordinary Shares at par to Sirius Oil
& Gas Limited ("SO&G") as part settlement of consideration amounting to �275,000 due to SO&G as set out in the Circular. The payment of
this consideration (to be settled through the issue of 110,000,000 new Ordinary Shares) was approved at the EGM held on 19 August 2008 (the
"EGM"). SO&G is considered to be part of a Concert Party with Corvus Capital Inc and others (the "Concert Party") and so the number of
shares issued to SO&G was limited to an amount such that the total number of shares held by the Concert Party remained below 29.9%. As a
result, only 46,000,000 new Ordinary Shares were issued to SO&G immediately after the EGM with 64,000,000 shares to be issued at a later
date. The Placing dilutes the effective holding of the Concert Party allowing 12,000,000 additional shares to be issued to SO&G such that
the effective shareholding of the Concert Party is restored. Accordingly, SO&G's interest in the Company will increase to 58,000,000 shares representing 11.54% of the enlarged share capital




makes me wonder if this was the obstacle and stumbling bock behind all the previous DD investigations?