Sirius Petroleum Share Discussion Threads

[slider27] 25/10/2016 20:54

7.1.2 the allotment (otherwise than pursuant to paragraph 7.1.1) of equity securities up to an
aggregate nominal amount of £462,500 in connection with the exercise of warrants issued in
December 2015 in settlement of the cancellation of warrants over 900m shares;


Strand hanson were issued 185000000 warrants end 015 at exercise price of 2 p valid for 3 years worth 3,7 mil
Usually when exercised SRSP should get the money not pay the money
How is the 7.1.2 possible as the share price has been nowhere near 2 p ?
Or does it mean they cancel the 185000000 warrants for 462 k instead of waiting for 3,7 mil
any views ?

[flazak] 25/10/2016 20:50

Payout or wipeout can't come soon enough :)

[gazzag1] 25/10/2016 20:48

Ct100 as far as I can see there is only one ramper and it is not Keyser imho.What is your problem with him?

[stillill1] 25/10/2016 20:47

I totally agree with KeyserSosse, so are you going to the AGM then DrRosso.

Shocking possible dilution but hopefully the 'assets' will be massive. 88e have 3.9b shares and 'shot up' from 0.3p to nearly 4p at one stage. Still have the faith we will do the same but the board better hurry up or I'll be ordering a new baseball bat for the AGM!

[carados] 25/10/2016 20:47

So jimduggan? Are you still holding in srsp or have you ever had? If your not why are you still posting here if not?

[sherl0ck] 25/10/2016 20:47

It's ludicrous to think that 1.7bn shares will be issued imminently at rock bottom prices. It's also a mistake to believe this is all directly related to our forthcoming deal. Research the concept of project funding and you'll see that a key aspect is raising money against asset cash flow rather than the balance sheet. So whilst there typically is some dilution attached to compliment a debt focused deal of this kind (normally 10-30% of total funding), it would be nothing even close to 1.7bn.

But if Sirius they do want to become a serious operator and secure a multitude of assets, then the ability to raise money over the next 12 months will be required. If the price for securing our asset pipeline is much of the 1.7bn shares, then so be it, particularly if these are issued at a significant premium to the current share price.

Hypothetically speaking, if I've made a big investment to this point would I expect to hold 1% of a company with little in the way of assets on the balance sheet? Yes. Would I also expect to hold the exact same percentage of a significantly bigger company with considerably larger assets? No of course not.

Also assuming that a) they want to try and close the deal in time for the AGM b) they could have postponed the AGM date if necessary, then it follows that it could well be positive that they've stuck with the date and issued resolutions that hopefully aren't so explicitly connected with initial project funding, leaving the door open for an EGM on the 17th and associated resolutions that could be more revealing.

Seems like some have jumped to the conclusion that today's resolutions are directly linked to our deal. I doubt it. I think it's still game on.

[chris shiherlis] 25/10/2016 20:45

Jim you are spot on. This lot are spineless.

[jimduggen] 25/10/2016 20:44

I agree 100% with you jenny.

And i agree 100% with keyse as i invested on drrossos storys.

Jenny i learnt a lot from investing in srsp and although costly it has been a lesson in investing.
I would buy here again at what i expect to be 0.17 to 0.25p and a release on info on 241 and other holdings.
They are a gutless bunch and todays resolution release seconds my opinion on that. Disgusted

[shez20] 25/10/2016 20:43

Sherlock I thought you was going to enlighten us on the rns

[jimduggen] 25/10/2016 20:17

Drrosso lol. He has told more storys than bumhammer has soiled pants.

Absolute shocker of a share. offers so much but gives very little. Sad

[pipelinepete] 25/10/2016 20:12

Sorry Chris I've had a cider

[carados] 25/10/2016 20:10

I'm sticking with it wharever☺ made my mind up☺ where's Dr Rosso though?

[chris shiherlis] 25/10/2016 20:09

Pipeline pete talking out your exhaust pipe again.

[1sonic] 25/10/2016 20:08

Ht wish I had 20 million lol

[xerot] 25/10/2016 20:06

Down she goes tomorrow, companies finished.