EXPOSE: Scirocco Energy – Gneiss Work If You Can Get It! Part One
By Nigel Somerville, the Deputy Sheriff of AIM | Saturday 9 July 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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.
I have been peering into the world of AIM-listed Scirocco Energy (SCIR) – formerly Solo Oil (SOLO) – following a shareholder revolt which saw 36.56% of voting shareholders reject a deal to sell its interest in the Ruvuma Asset in Tanzania to AIM-listed Wentworth (WEN). 36.56% was not enough to derail the proposed transaction, but looking through the associated Circular is it hard to see what shareholders in Scirocco gain from the deal.
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