Have I been right in that this share has been hugely manipulated to walk down the price for a cheap takeover (by our current majority shareholder even?)
Remember that the correct current price should be around GBP1.60 i.e. pre consolidation price 8p x 20. The rise can't be on the back of the second tanker shipment as that is at least a month away so lots of shenanigans going on. - Funny that the volume increases 20 fold and no announcement from UEN? - Lets wait and see
Im going to be honest, I have sold today. lost more than 50% of my initial investment. This has really become a joke. When it was a penny share, it was ok, it fluctuated all the time., but its not a penny share anymore, but probably will be again soon. Good luck all. Moved into SOLO, hoping to make up the loss there...
3-1/2 grands worth of shares traded can manage to wipe 10% off the value of the company and not a peep from the joke board of directors . Time to do some digging into Mr Shragers past directorships I think - more to follow!
Seen it far too many times with AIM listed companies - The directors are all in it to take the cream off the top and don't give a stuff about joe bloggs investors like us . AIM listing means very few regulations to comply with and easy to manipulate the share price . This lot promising dividends but paying for it with our own money after the sp dropping 60% since they consolidated the shares. I said it would happen but unfortunately didn't heed my own warning . If it turns out that Impex are manipulating a cheap takeover attempt I will go on a one man crusade and make their life a misery. End of rant (for now)
Since consolidation 1.60 to 70p and not a single explanation given by the poor excuse for directors of this company . How can 2grands worth of trades drop the value of the company by almost 3% other than pure underhand manipulation. I have written to UEN via the Nomad as UEN themselves make it impossible for shareholders to have direct contact. I have also written to AIM investigations team who have at least acknowledged my correspondence which is more than I can say for Shrager and co. By the pure lack of any posts on here I have the feeling that I am the only PI left. If there is a takeover attempt on the cheap by our 48% majority shareholder I will make it my life's ambition to investigate by all means possible what has been going on behind the scenes over the past 6 months.
The directors of this shady company need to provide immediate answers as to why the sp has now shed 40% in a matter of 3 months - something underhand is going on behind the scenes and if a lowball takeover offer suddenly appears out of the blue then all shareholders should be demanding an investigation. If outside parties are responsible for manipulating the share price then the directors should be suspending trading of the shares.
This stock is being manipulated beyond belief , something is going on behind the scenes and you can bet that it won't favour us P.I's. SP was 8p pre consolidation meaning that it has shed 30% in a matter of weeks. Don't trust them shady Ruskies!
Looks like my prediction re the post consolidation sp crash is happening - but could it be that the sp is being manipulated lower for a cheap T.O and us long term holders will be cheated out of our hard earned cash like most other AIM private investors . Honestly - a 4p drop on only 2,339 shares traded!!
Here we go again - are we in for the usual sp crash after consolidation.? A few weeks back 8p I.e GBP1.60 after consolidation and now already nearly 25% down on that sp high. I obviously am a skeptic after many years of suffering - can anyone blame me? Now - does it go back into the bottom drawer in the eternal hope of a miracle , or is there a tree shake going on ahead of a big announcement? I mean , really? 6.5% drop on only 17,000 shares traded!
You didn't misinterpret the RNS - if you look at the company website investor relations section under shareholder information it states that the company has an issued share capital comprising 252,446,060 shares at a nominal value of USD0.0063. I can only guess that the share capital was reconstructed at some stage back in the days when the company almost went under - need to trawl through historic RNS's to determine when this happened.
Hmm, just read this again, think I may have misunderstood?
It was proposed the company's share premium account be reduced from $656,167,589 to nil, by writing off the losses of the company equivalent to this reduction of share premium account.
So this is just a write off of losses. (It happens)
Urals Energy Public Co further proposed a share consolidation, whereby every 20 existing ordinary shares of nominal value of $0.0063 each be replaced by one new ordinary share of nominal value $0.126.
Where are these nominal shares of $0.0063? My shares are in £ and pence not $dollars. Also, my shares are currently priced at 7.25p each, when the RNS was released that shares were 6.5p Or is this just a poorly written RNS?
Never had a good ending to any share consolidation in my past holdings and on average the value of my holding has halved within weeks of the consolidation taking place. In theory each share should be worth between 1.30 and 1.40 after consolidation so lets wait and see where the sp sits at the end of the year!.
Well well well... Pardon the pun... In my opinion, with a consolidation of that magnitude, I have a hunch they are building the business in anticipation of selling it off. Take over style. Time will tell, but after this consolidation, it will no longer be a penny share. All in my humble opinion of course. did not see this coming...
Probably for about 2 weeks until they borrow against the next oil shipment, this appears to be the perpetual way of financing operations for Urals but I guess it is better than borrowing from the banks or diluting the sp any further with CR's. They just need to start producing more oil for the sp to show signs of recovery.
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