New World Oil & Gas: Did Chris Oil vote yes and betray private shareholders?

Wednesday night’s result of New World Oil & Gas’ (NEW) EGM threw up an intriguing figure; 68,105,573. Now that figure might not seem particularly stimulating to the casual observer, but this block of votes voted in favour of Resolution 1 (for the placement) and against Resolution 2 (for the director/advisor warrants). Quite why anyone would have been in favour of the placement yet against the warrants is a bit on the peculiar side. Then again the New World debacle has attracted its fair share of odd characters. Speaking of which, did I mention that Chris Oil’s broker held 69,815,402 New World shares on the morning of the EGM?

New World Oil and Gas – implications of the EGM result for the company and its advisers

Now that the Placing is all off (quite how they calculated whose EGM votes counted is a bit of a mystery, but I shall return to that in a moment) we are told that the company is now planning to go ahead with an Open Offer which we were previously told would be underwritten by Cornhill – the placing agent now with no placing to place.

Exclusive: London Stock Exchange has now suspended New World

On Monday evening, New World Oil & Gas (NEW) put itself into “temporary suspension”, pending the outcome of the EGM. Last night New World announced the results of the EGM, but the stock remains suspended. It turns New World’s suspension is now out of its hands. The London Stock Exchange has stepped in and suspended New World, until the settlement situation is resolved.

ShareProphets Exclusive; The hidden truths of New World’s EGM result

Tomorrow’s AIM-related headlines will be dominated by news of New World Oil & Gas’ (NEW) resounding shareholder rejection of its highly controversial placement. While this is cause for much celebration, this story is far from over. New World’s board appears determined to push ahead with the proposed open offer, to save the reckless forward sellers, despite such categorical resistance from the company’s rightful owners. The situation is now more explosive than ever, as illustrated by the figures from the vote.

New World Oil & Gas EGM votes No - Shares to stay suspended as Omnishambles rolls on

At No-one is watching O'clock ( 6.29 PM) the news finally came through. Congratulations to Ben "pitchfork" Turney - the EGM of AIM casino posterboy New World Oil & Gas (NEW) has not passed either proposal made by the board.

New World (#NEW) EGM votes NO! Shares to stay susp, Open offer planned

New World Oil and Gas – ShareProphets RNS Translation Service

Last night (after hours, of course) New World Oil and Gas (NEW) issued an RNS to report on the fiasco that was its EGM called to pass proposals which would allow the controversial Placing announced on 29 April to proceed. Every man and his dog knows that there has been a disorderly market in the company’s shares pretty much ever since, and so with speculation rife that the company would have a spot of bother working out who was entitled to vote as massive multiples of the issued share capital traded through the market and even a formal notice from the LSE that shares were not settling in a timely manner, the ShareProphets RNS Translation Service is pleased to help readers understand what is going on. Quotes are in bold with our interpretation in normal script. 

Exclusive: Observations from New World Oil & Gas’ EGM

I took notes during New World Oil & Gas’ (NEW) EGM. Although these aren’t a comprehensive record of what turned out to be a very long meeting, they should hopefully provide some insight to those shareholders who were not able to attend.

Why New World Oil & Gas cannot, in good conscience, proceed with Open Offer

We still don’t know which way the vote from New World Oil & Gas’ (NEW) EGM will go. No doubt recognising that a show of hands would have resulted in defeat of Resolutions 1 & 2, meeting Chairman Peter Sztyk’s first action was to announce a poll. He was well within his rights to do this. The poll results should be available in the near future, but there is one point I have to make, while we wait. Based on what Mr Sztyk said in the meeting, in front of New World’s solicitor and brokers (four of whom were in the room), if Resolution 1 is defeated it is inconceivable that the company can proceed with an open offer in good conscience.

The chaos at New World Oil & Gas (#NEW) Dan Mcrum at the FT offers his view

New World Oil & Gas EGM farce details emerge

Detail is slowly emerging from the farcical New World Oil & Gas (NEW) EGM in Jersey today. Criminal market abuser Chris Oil was not present - maybe his passport has already been confiscated. But Ben Turney was attending as were no less than four heavies from broker Cornhill Capital.  The bottom line is, knowing that a show of hands would go against the company, it started the meeting by calling a poll - that is to say a vote of those actually casting votes on the two resolutions. However...

New World (#NEW) TOTAL FARCE - cant work out result of EGM - shares stay suspended

New World Oil & Gas; the London Stock Exchange sails into uncharted waters

Since arriving in Jersey yesterday morning, it is clear that whatever happens at New World Oil & Gas’ (NEW) EGM today the aftershocks of this fiasco will continue to be felt for quite sometime. New World has 702million shares in issue, yet in the twelve trading sessions after the company announced its unconfirmed placement somewhere between 6.5billion to 9.5billion shares exchanged hands. So far the authorities have largely washed their hands of this mess, but sooner or later it is going to dawn on them that they cannot ignore it indefinitely. Heads have to roll.

New World Oil & Gas (#NEW) shares suspended till after AGM vote

Market abusing CRIMINAL @ChrisOil dumps more shares - now owns 25% of New World (#NEW)

Zak Mir's Great Request Show: New World Oil & Gas, Sefton, Xtract Resources

If you want me to analyse a stock for you just drop me a line at sqmir@hotmail.com - Today I look at New World Oil & Gas (NEW), Sefton Resources (SER) and Xtract Resources (XTR)

New World Oil & Gas; Chris oil to vote “No” with 6.93% of the vote?

I noticed yesterday morning that New World Oil & Gas (NEW) has updated its AIM Rule 26 disclosure concerning major shareholdings. Of all the changes, by far the most significant is the inclusion of Alliance Trust Savings Nominees Limited. Alliance Trust didn’t feature in New World’s previous disclosure and yet now apparently holds 6.93% of the company. Why does this matter? The answer is simple. Alliance Trust is Judith and Christopher Williams’ (a.k.a. Chris Oil) broker.

New World (#NEW) says no reason for SP Move. Untrue - its down to blatant ramping

Market Abuser Chris Oil dumps 13% of New World (#NEW) - developing

Dear FCA, about your table of most shorted shares and New World Oil and Gas

I have taken a look at the FCA spreadsheet on the most shorted shares, having read Steve Moore’s table of most shorted AIM shares and one company name seems to be conspicuous by its absence: New World Oil and Gas (NEW).