Zenith Energy Share Discussion Threads

[ravin146] 21/4/2017 21:34

Sea7, once again great post...I assume you are replying to the posters before your posts.Not sure why this has become a GUN board, it has a minor 4% stake here, fell c12% today and it understandably imo need to cash in ST profits so is very st.Just a suggestion, no disrespect CPAP, sea7 you've clearly have cast knowledge in ZEN...worth creating a new thread and include research at the header?Just a suggestion but happy to stay as it stands.Gd wkend

[sea7] 21/4/2017 21:14

PUG

the company must maintain its free float to comply with listing. The listing authority may allow less, if it thinks the market will operate properly if there are a large number of shares in issue.

[sea7] 21/4/2017 21:12

I did not pay stamp duty either.

[grannyboy] 21/4/2017 21:09

PUGUGLY has mentioned stamp duty on zen shares, but i didn't pay any stamp duty, and seems convinced that you do, but how would he know, didn't he say he hadn't invested in here yet?.

[sea7] 21/4/2017 21:05

The main market has a better profile than aim and stocks can suffer from much lower liquidity on aim.

I do not think that there is a minimum number of shares required to be traded per month.

[grannyboy] 21/4/2017 21:03

PUGUGLY "but cost of stamp duty could hold back liquidity"

I don't know where you get stamp duty from, I didn't pay stamp duty on my shares..

Are you in Canada?

[sea7] 21/4/2017 21:01

yeh looking at it gunsynd note was at 10c or London ipo price for conversion, however,
they have converted at a price of 10c and 1,637,100 shares have been issued to gunsynd. So, if they are knocking them out, the stock has been at 11p at the time of conversion (21 march) and upto 13p, so they will be getting a good return if they are selling them.

[pugugly] 21/4/2017 20:59

sea7. I had seen the 25% rule - What I was seaching for (sorry lack of communication) is whether there are any main market regulations relating to turnover of shares in their market - i.e. volume of shares changing hands per month - Reason ZEN said they wanted London listing was that their turnover/churn? on TSXV had been declining.

[sea7] 21/4/2017 20:51

pugugly

main market must have 25% of stock in public hands as a minimum, whereas aim has no such restriction.




Scoll down to page 6 for regulatory requirements for premium, standard and aim listing comparisons.

[pugugly] 21/4/2017 20:42

cottoner: Looks as though our posts crossed. Agreed with your figures in principle - I had not been able to find exact timing and exchange rates.

[bad gateway] 21/4/2017 20:38

No doubt you're right cottoner I meant going forward rather than looking back.

[pugugly] 21/4/2017 20:37

sea7: Many thanks - Agree much more prestige but cost of stamp duty could hold back liquidity. I have been trying without success to see if any exchange listing regulations re liquidity (unsuccessfully) I understand they apply to AIM stocks but cannot find any comments re Main Market listings.

Gunsynd interesting company !! Not really sure why listed - Many PI's have bigger but less concentrated high risk portfolios. Not so sure re modest profit as conversion price was at 10 cents Canadian - Some 6.5-7p Have not checked exchange rate at the time so subject to how long they held a not insignificant profit. (nb would need to trawl through ZEN back accounts and notices to find full details) Agreed GUN needs to liquidate to obtain funds - the price they get will very much depend on how many willing buyers the are - As always !!



Wishing you a relaxing weekend.

[cottoner] 21/4/2017 20:25

For info/accuracy :

Gun actually sold some of their shares in ZEN at close to double what they paid. (86.7%)

Bought @ 7p - sold @ an average of 13.02p

[bad gateway] 21/4/2017 20:17

So really gun are forced sellers the moment anything they've bought is up 5-10% as by then they're always likely to need the trading profits for wages/general admin costs?

[sea7] 21/4/2017 20:01

Gunsynd had net current assets of £297,000 as at last accounts.

The get through £209,000 in yearly admin costs. They have £2.37m in available for sale investments. They are not long term holders, they are going to run out of cash in a year at this rate. They need to realise investment returns and then re-invest in other early situations to avoid needing to raise capital and to continue in existence and pay their own wages.

They raised £1.1m as shown in their accounts to end jan 2017. They have done most of that already.

The cash and cash equivalent figure was £238k at end jan.

They converted their £100k note with zenith to shares and will likely be selling them for a relatively modest profit.

[sea7] 21/4/2017 19:53

pugugly,


A standard listing is less onerous than an aim listing in the area of obtaining shareholder consent for certain types of transactions. Aim listings also must have a NOMAD.

The standard listing is therefore less onerous in terms of continuing obligations than an aim listing.

for example.. related party transactions - no restrictions on standard listing, whereas on AIM if transaction over 5% then shareholder approval must be sought/notification and circular sent out.

Also listing on the main market is an efficient way of accessing capital to fund growth, whilst benefitting from an enhanced profile and liquidity along with a well governed market structure.

[ravin146] 21/4/2017 19:12

Link: https://m.youtube.com/watch?v=8cdm_IxR_E8

[ravin146] 21/4/2017 19:11

Very interesting...sea7 listen to this...3:30 onwards talks about 360 rev to 500. Plenty of strong cashflow as it stands. No funding required for workovers.

[pugugly] 21/4/2017 19:09

sea7;> So why are GUN selling down?

OK nice profit at current price but if share price reaches levels suggest by analysts and posters here they might well make a bigger cash profit and also significanlty increase %age profit than from some of the other projects in which they are investing -

Also no one has yet come back as to "why list a tiddler on the main board rather than AIM" Stamp duty makes life more expensive -

[sea7] 21/4/2017 17:01

Bit of historical news from last year when first payments were received from socar.

[grannyboy] 21/4/2017 16:59

I wonder, if the flow rates are impressive with the sidetrack(195), they could consider carrying out a sidetrack on 45 if they start to encounter any blockages/obstructions?

[sea7] 21/4/2017 16:59

In gunsynds January presentation they stated that zenith was getting US$360,000 a month revenue.



Just for information

[sea7] 21/4/2017 16:45

yep, saw that buy ravin. Soaking up the sellers stock.

Moved up 9% in Canada.

[ravin146] 21/4/2017 16:41

Buyers continue to rally in...400k buy at the end!First workover result soon!

[sea7] 21/4/2017 15:00

Tks ravin,

Wasn't sure if it had been seen and only saw it today.