Sweet for those who could get them: a 20+ % discount to the closing price and a FAR better options deal than the A's offered to 'loyal' shareholders.
No news on extending the A's either - are they dead ducks? What a mess.
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https://soundcloud.com/user-24692873...or-scott-brown
Points I took from the interview with SB
End of April for Reserves>>
Has Debt finance available>>
likely to get funds from OA's and working on extending ex.date 3months to JULY 19>>
hopes to get GSA signed off next Qtr... MAY-JUNE???
So from that, I'm certainly not selling any and really hoping to see the extension of the OA's
unless they are 90% sure to be dead(with the above details) .. really was the only way we S/H got included to leverage into a major success (outside buying the OB's) really have to be bitter RLE holder to not vote for the extension
I take the validity most of what Brown says with caution... more so now than ever.
My understanding is the extension of the OA's is not merely at the decision of shareholder vote. Requires ASX dispensation and RLE's situation may not be sufficient for that to be granted?
Maybe... the OA's were never used to raise cash but a loyality bonus to all S/H's
So hoping this and the fact of there very short-dated will sway the ASX to allow a three-month extension as delays out of RLE control will see all major news coming late April to JULY they seem to have nil issues with shares trading pre ann insider trading etc or illeagl disclosure from ASX listed companies ...every week seem some retail S/H's getting shafted by a dodgy Micro cap Mgmt ...ASX turn a blind eye ..
Will be pissed if we can't get a small extension too what is basically a 12c raising gifted to S/H's
Worth a quick read, the table is useful... https://stockhead.com.au/energy/why-...ppen-last-year
The thesis of it didn't happen then, so it's more likely now ... is one I'm usually not that comfortable with. However, the metrics in this space are compelling!
Just spoken with RLE MD again sounds like they have been trying to get the OA's extented but the ASX has been non-responsive on the matter
another plan RLE are looking at is letting OA holder convert into OB's at a discounted rate (I'm hoping 2:1)
Hopefully we will find out soon enough.. sounds like Gas reserves won't be till later April after OA ex.date
Well currently comparative price of OAs to OBs is near 8:1. If 2:1 was a sniff you're looking at a 400% gain. If you've got nil risk aversion because of the money tree in the back yard then it might be worth a gamble...
Definitely not advice worth acting upon so do not do it (unless you do have said money tree)
Well, I'm hoping it will be 2:1... Many OA holders like myself have averages above 3c
I understand they really wanted to extend OA's a couple of months but looks like time has run out for this option... So plan be B is the OB's
which would still need S/H support and we could see it voted down by holders
And maybe nothing is done and they expire worthlessly IMHO 50% chance
certainly high risk even at these levels ...but I'm not selling as I'll only get 12% of my capital back
Well with latest info out I sold my OA's for a major loss @ .005 and sold the other half of the head shares for a profit 9.7c sitting on the sidelines think we will see more downwards pressure till later April when reserves should be out..
Gutted the OA's had Huge potential but in hindsight should have sold my free OA's and just purchased head shares and OB's damm the last CR just killed them off