Urals Energy Share Discussion Threads

[neftanik] 19/8/2019 10:00

Darren Forever The Optimist

[darren81] 19/8/2019 09:02

I'm not sure how they'd have plenty of time to sort things out before taking over from the old lot gaffer - they would not have full access to the parent company's accounts/workings before 22nd February, just details from Pet I assume (as provided by Kononov)

Given the length of time they've been in their role now, progress should definitely have been made on all points laid out in 22nd of Feb RNS though.

This Thursday is 6 months since they took over and a lot has transpired that would have warranted an RNS if we were listed so it is frustrating that we haven't been kept informed.

I sincerely hope that an update is forthcoming very soon!

[amargosa] 18/8/2019 18:26

Didn't the old board resign the day before the new board was voted in?

[gaffer73] 17/8/2019 23:16

Can't say I agree Darren, the new bod had plenty of time so sort things out before they coerced shareholders into voting for them.

[darren81] 17/8/2019 17:44

Given Allenby/old BODs pulled the rug from under them they didn’t have any choice in the matter gaffer...AIM rules came into effect. I’d say ur anger would be better directed to the old board (and Allenby)!!!!

AIM are not going to let them relist until they have a new nomad and can prove they are financially viable. It’s better them taking their time and relisting once the shambles left over from the last board has been sorted thus meaning a much higher price. This will provide shareholders with a reason to hold/buy...if they relist without this the share price would very quickly drop (from being virtually worthless already).

Being a private company means that they aren’t legally required to update shareholders regularly but if/when they relist they should appreciate that during this closed time their behaviour will be remembered and people will hold/buy/sell as such.

[darren81] 15/8/2019 11:17

Some question id like answers to Tone...


- The statement on 22/02/19 intimated the new board would improve communication with shareholders and re-introduce the monthly Q&As but since then, aside from confirmation the company would be delisted from AIM (a regulatory requirement), no further updates have been made. Can you please revise this statement as per your current intentions?

- The statement on 22/02/19 stated "the Board are committed to use all means possible to lift the suspension of trading in the Company's shares on AIM", since then the shares have been delisted. Can the board please confirm if it is their intention to relist on AIM (or any other exchange)? If so, what is the expected timeline for re-listing?

- The statement on 22/02/19 highlighted four causes of financial concerns, can the board please provide an update on each of these items please?

- The statement on 22/02/19 intimated that the board would work on a roadmap to strengthen corporate governance, can you please confirm what progress has been made on this?

- It has come to my attention that Arcticneft has been subject to bankruptcy proceedings, with a number of hearings having taken place since delisting. Can the board please provide shareholders with details on why these proceeding were brought forward and provide an update on likelihood of these proceeding being settled outside of bankruptcy?

- The Crow Report (RNS 22/11/18) stated that Kholmsk Port "is in financial distress and has only avoided bankruptcy proceedings due to Petrosakh covering its debts as the Port's creditors pursue it in the Russian courts", can the board please provide an update on current status of these proceedings as well as current financial standing of the port? Can the board also confirm Urals current holding in the port (including via intermediaries) and the number of Urals Energy aligned directors currently on the board?

- Can the board please provide confirmation on whether the loans outlined in the Crowe report (22/11/18 RNS) have now been repaid? If not, can you please confirm why?

[neftanik] 15/8/2019 10:19

Are there any plans to make an offer to purchase shares from existing private share holders?

[tone the bone1] 15/8/2019 08:20

If you could speak to the new board
What would you ask them to clarify in their news release ?

[chavitravi2] 14/8/2019 15:32

Nar, no smoke or mirrors, just a lot of laughter at so easily conning us out of the company.

[martyn9] 14/8/2019 12:39

You never know amargosa,too much smoke and mirrors with this company.

[amargosa] 14/8/2019 12:35

I wonder if the new board are the ones in the dark?

[chavitravi2] 14/8/2019 10:13

I think they regard that as nowt to do with us.

[darren81] 14/8/2019 09:59

More potentially decent news related to Kholmsk port announced here

hxxps://www.worldcargonews.com/news/news/people-on-the-move--kastrup-leaves-apl-new-ceo-for-irisl-62753

i.e.

Rashid Nurgaliyev has been elected as Chairman of the Board of of Kholmsk Commercial Sea Port, on Sakhalin Island, Russia. The other Board members are

Nikolay Zemlyanukhin
Freydis Yuri
Katinavasov Rasul
Ramkin Ishkinin
Sergey Kononov
Sergey Muzikanti


Seems like things are progressing there / we have representation on the board.

Yet more info that PIs need to find for themselves though

[amargosa] 05/8/2019 19:52

How often do unlisted companies put out information to shareholders- is unlisted Urals Energy out of the ordinary in respect of issuing information?

[littlepuppi7] 05/8/2019 12:56

Anyone heard from lalria?

[whu0319] 05/8/2019 12:43

Cyprus was never an office as such other than a address and call girl only, most likely shared with many others...Wee are still in the mercy of the BOD, no leverage to pressure them doing anything what-so-ever, time to put some money together and hire a lawyer to represent us all. something like Crowd-funding proportional to UEN share Nos held by willing PIs...Darren?

[darren81] 05/8/2019 12:20

Interesting that they're closing the Cyprus office - not sure why an office there is required tbh so perhaps good news that costs are being trimmed.

It's a worry that again this info isn't being made available to all shareholders via official means!!

[takeachance1] 03/8/2019 11:50

I rang the Moscow office ([phone]) on Tuesday. I spoke to a very pleasant receptionist who informed me the Directors were not available however she gave me an email address ([e-mail]) and asked me to email them with my query. I sent an email on Tuesday to the above email address as well as copying [e-mail] too. Still not had a reply. Will post their response if/when they reply.