Solo Oil Share Discussion Threads

[tmmalik] 24/7/2017 18:36

Wrong timings for consolidation It could be good after HH planning approvalI think share price already on bottom so it wouldn't go down much as they are going to announce some update after meeting with Aminex LNG plant purchase I guess

[palwing13] 24/7/2017 17:34

Temmujin....yep, I did.

[temmujin] 24/7/2017 17:34

i think what will happen tomoro though is the price will probably double..the same happened to ritson's other share LGO but probably best to sell some when it doubles tomoro

[temmujin] 24/7/2017 17:34

i think what will happen tomoro though is the price will probably double..the same happened to ritson's other share LGO but probably best to sell some when it doubles tomoro

[barony] 24/7/2017 17:22

UKOG and AEX go up and we consolidate and go down at the same time! Well done NR. You're doing a sterling job of reducing my life savings.

[c31161] 24/7/2017 17:07

Set thisHi NeilThis is and absolute disgrace, I like many other share holders never got the chance to vote on consolidation, lots of share holders like myself never had any notification to vote, this must be invalid, share price down nearly 8% the market doesn't like it, this is a disaster for the share price and illegal not to give share holders a vote.

[lithological heterogeneities] 24/7/2017 16:49

Almost every single share I have ever seen do a consolidation this past 20+ years of investing has DROPPED after a consolidation.

I don't see any change here,especially as SOLO are still an investment company (not an oil company like AEX) and,by definition, will keep coming back to shareholders for more funding/dilution.

Sorry, but SOLO are a strong sell imho. If you want to avoid continual dilution then swap to AEX or similar. Just get out of SOLO.

[temmujin] 24/7/2017 16:48

palwing..and i bet you sold too early in QXL

[simon8] 24/7/2017 16:22

Agree, I have held two shares over the last 10 years or so that underwent consolidations (not of the scale of 20:1 though) where in both instances the share price post the consolidation ended up very quickly seriously deflated to the pre price equivalent. This is one of the reasons this concerns me, this type of consolidation is usual a blatant mask for a company's previous abject failures...and the market sees right through it.

we will see, we won't have long to find out!

[palwing13] 24/7/2017 16:14

Kiss of death. In 20 yrs of dealing I have only had one share consolidation that worked. QXL...(sigh) GLA

[simon8] 24/7/2017 16:04

Agree it is a straightforward balancing equation, so we should have at opening post consolidation share price of 5.2p based on todays price probably with the similar wide price spread... I guess immediately post that calc it depends on how the market generally digests ritsons new cheque book and if they feel solo is now due a further downgrade....

[12bn] 24/7/2017 16:02

Here it is ////RNS Number : 9256L

Solo Oil Plc

24 July 2017

FOR IMMEDIATE RELEASE 24 July 2017

SOLO OIL PLC

("Solo" or the "Company")

Result of Annual General Meeting

Revised Investing Policy

Share Consolidation

Total Voting Rights

The Board of Solo is pleased to announce that at the Annual General Meeting ("AGM") of the Company held earlier today, all resolutions were passed to include an update to the investment policy of the Company and a share consolidation.

Revised Investing Policy

The Company's Investing Policy is to acquire a diverse portfolio of direct and indirect interests in exploration, development and production oil and gas assets, and any other subsurface gas assets of potential commercial significance, located worldwide but predominantly in the Americas, Europe or Africa.

Share Consolidation

The number of shares in issued will be reduced on the basis of 20 existing existing ordinary share will be consolidated into one new ordinary share of 0.20p ("New Ordinary Share").

Application has been made for the 392,337,801 New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to commence at 08.00 on 25 July 2017.

The New Ordinary Shares will have the ISIN: GB00BF1BK408

Total Voting Rights

The above figure of 392,337,801 New Ordinary Shares with voting rights may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority;s, Disclosure and Transparency Rules.

For further information:

[kevjones2] 24/7/2017 15:55

Simon, it's a mathematical equation. It cannot be manipulated. Whatever the close is today multiply it by 20. Then divide your current holding (number of shares) by 20 and that's where you'll be.

[simon8] 24/7/2017 15:52

So if a 20:1 consolidation in shares in issue translates directly to share price then on current 0.26p share price we should end up with coming out post consolidation (if we do not lose anything in the process) at 5.2p [0.26*20] new share price so watch this space, anything less and we have been taken yet again!

[simon8] 24/7/2017 15:36

GIVEN A 20:1 CONSOLIDATION I HOPE THE share price GOES UP!

[temmujin] 24/7/2017 15:34

she's moving chaps..the ritson roller is leaving the station...

[jimmmy] 24/7/2017 15:23

will go up

[geoff0458] 24/7/2017 15:10

Feel sorry for you guys, look what he did to lgo !!!!

[simon8] 24/7/2017 15:07

Oh well, there's the RNS all resolutions passed...ritson must be jumping for joy, bets on how long it will take him to get over one billion in issue again? He'll be a kid in a candy store diluting us to his hearts content, we just gave him an open cheque book where the cheque book is our cash / our investment...

[geoff0458] 24/7/2017 15:07

tmmalik has NR got the sack

[tmmalik] 24/7/2017 14:57

Boys get ready for 25% up

[dudleym1975] 24/7/2017 14:56

Prim very under here and bargain prices at 0.35 with upside of over 1pGet ya money back into PRIMWhy stick in a losing shareI said this before we shot up So say it again

[simon8] 24/7/2017 14:27

Given AGM was at 11am and if it was all nodded through with the usual limited participation then I would have expected the normal bland all resolutions passed RNS by now... perhaps not that straightforward and ritson getting grilled?