Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

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

By Ben Turney

22 May 2015 06:56

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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?

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Comments

Daniel Victor

22 May 2015, 09:12

I say this at my peril,considering the strength of feeling this thing has obviously generated – but anyone who hangs their hat around ‘I am minded to vote no’ has only themself to blame.‘Read my lips,no new taxes’,Lamont’s assertion that Britain would not leave the ERM just before it did,the Swiss promises about their currency’s peg with the Euro were all far more culpable.
Marvin

22 May 2015, 10:01

I’ve lost track of this but is there any chance at all that he was particpating in the actual placing ?
TW Note. He was not
Bob

22 May 2015, 10:19

But But But But. Obviously your argument fails at the first hurdle because all you have done is subtract one number from another and noticed that the result is similar to the holdings represented by Alliance Trust. Such a ‘conspiracy’ theory has to be too simplistic since you are dealing with Chris Oil. Obviously he would not be such a ‘dumb fuck’. He even ‘buys’ ‘hookers’ who know which finger is required for prostrate gland inspection.