Urals Energy Share Discussion Threads

[loser7] 11/10/2018 08:16

don't look good today :-(

[lalria] 11/10/2018 07:56

Hoping for a better day today let's see what it brings

[theclangers] 10/10/2018 23:01

What an apt name he has, Kon on ov, Lol.
Looks like I dropped a big Clanger here.
Should of gone with my gut feeling that something was not right after my 35% stop loss kicked in, but thought it best to wait till I collected the divi.

[amargosa] 10/10/2018 22:47

Kononov is part of the Company 'performance-related share scheme. LOL

Kononov is not obliged to make an offer for the Company under the takeover code as UEN does not fall under a jurisdiction where it applies. That normally kicks in @30%, but UEN chose not to adopt a voluntary takeover code. Another great decision.

[chavitravi2] 10/10/2018 22:27

If they took the holding to 51% would they be obliged to make an offer for the lot?
They could get over 51% using our money they nicked.

[theclangers] 10/10/2018 21:37

No, Don't think so, but if Adler came to the rescue with a fundraise, they could easley cross 51% It's a possibility they could have bought some in the market today though. But doubt it, IMO

[bengal1] 10/10/2018 20:25

Has a 51% share holding been acquired already???

[gaffer73] 10/10/2018 20:03

That's exactly what I was thinking. Step in Ardler or Sberbank with a fund raise at 50p and boom back to a £1. I've said a thousand times UEN can't turn a profit no matter what they do, so I think it's over if they can't sort this out.

[theclangers] 10/10/2018 19:39

Starting to think all the delayed drilling news (bad weather and mishaps) was orchestrated to drive the share price down, and this latest debacle! Now that the oil price has recovered, would they feel the need to be listed on AIM? Could a small discounted fund raise be on the cards, funded by Adler to take more control?
hope not, but have become very skeptical / cynical about the goings on over the last year.

[amargosa] 10/10/2018 19:24

Surely the BoD has now sacked Kononov from his position as President of UE LLC and launched a criminal investigation. His 45% holding of shares should also be confiscated and cancelled. I would also expect the immediate resignation of the CEO at the very least. Followed at some point by the rest of the Board.

The RNS illustrates a major public falling out of Adler (Kononov) and the Bods. The dividend was obviously not enough return for Adler. It was unbelievable of the Bods to allow a single shareholder to own 45% of the issued shares, but then appointing that shareholder to such a key position with the Company may quite possibly be a criminal dereliction of director (fiduciary) duties. Porridge anyone?

[neftanik] 10/10/2018 18:59

It's to be expected. The current board have no desire to be listed on the LSE and see it as a huge hindrance. The listing was part of the ambitious plans by the original board with William Thomas. The company is simply acting like a normal private small scale Russian producer which exists purely for the pockets of the General Director. That is why it has never got anywhere near it's perceived market value, but most long term holders still think they have sunk their moneyInto some major exploration/ refining company. I would very much doubt the share price will recover from this,

[spawny100] 10/10/2018 18:35

I think that must be the most risible RNS I have ever read. What a bloody shambles.

[theclangers] 10/10/2018 18:29

Adler with it's 44.5% voting rights, are acting like they own the whole company. If they had 51% could they dismiss the BOD and do as they please?

[bengal1] 10/10/2018 18:05

Neft... What do make of this?

[bengal1] 10/10/2018 18:01

What stops this happening again?

[topicel] 10/10/2018 17:47

If the Russians can wander around Europe with Novichok and nothing much can be done about it then a little whealer dealing on AIM isn't going to cause many ripples...

All down to Adler to front up and then the BoD to reinstate the divvy. Adler set this all up for that income so it will hurt as almost certainly they could suspend it next year too.

Like I said yesterday, the dividend was the only reason to hold this, but even I didn't expect quite this amount of flagrant distain for the rights and wrongs of business!

Topicel

[chavitravi2] 10/10/2018 16:58

Over half a million shares traded and 20k more buy than sell.

[martyn9] 10/10/2018 16:09

Chav, my sentiments exactly,this will need a cart load of good news over the coming months to stop the rot or hells bells another 10yrs!!!!

[chavitravi2] 10/10/2018 15:41

As i see it he is Adlers man so Adler pay or off to jail he goes and Adler lose their reputation. Is their rep worth more than $1.5m?
That is our problem now, lose of repute. People are going to be shy at buying in here now at a time when we need new blood.

[darren81] 10/10/2018 15:30

that just about sums it up Nick.

The loan is for $1.5m, if they follow through and don't pay the divi (equates to $783k) then it will remove only $700k from "working capital" - given we have over $13m from the next shipement (one of two for the year) I sincerely doubt it will materially impact our ability to operate.

I think creditors has been mentioned as scare tactics to try to force Adler to repay ASAP.