Pity those who bought shares in Sound Energy (SOU) at well over 80p at peak ramp. Luckily for him, the chief ramper James “Dracula” Parsons sold most of his stock while urging others to buy, as the shares now trade at just 1.11p to sell, valuing this company at £12.5 million, which is far too high. By about £12.5 million in fact.
These days the Sound Energy (SOU) Shareholder Group (SAG) speaks for around 12% of the, almost certainly worthless, equity. As such it cannot be totally ignored by the discredited management and on Monday a 4 hour conference call with Graham Lyons, Chairman, and Mohammed Seghiri CEO is scheduled to take place at 10.30 AM. But what is the point?
Okay most listed oil stocks are heading for zero. You don’t need the brains of Cheryl Cole, sorry I meant Lloyd George, to realise that ceteris paribus most of the sector is fecked. But surely, Sound Energy (SOU), once valued at c£800 million, is toast and the last rites will be read soon.
The Sound Energy (SOU) shareholder action group now has more than 300 members and speaks for 9.5% of the, in my view, almost worthless, equity. At 10% it can call an EGM and seek to oust the board. And if you own any stock in the company I urge you to contact me at tomat49@gmail.com NOW and here is why….
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