Has anyone please got any info on this one? It was supposed to start trading again in July and then August - almost end of August and nothing!

53/53.5 this morning, so up a tad again ..... can't really disagree with you, and shall be sorely tempted to short shortly - well within the next few days anyway - if that proves possible

strange happenings at SBE this morning ..... up another 9p ..... shall avoid doing anything as it all looks too manipulated for comfort

updated at 11:52 - now +12p

Not bad a 50% since Thursday dont get many of them do you..rises that is.

shan't touch them

share performance has been quite extraordinary ..... shall watch out of curiosity but sure as hell wouldn't touch with my money, or what's left of it

Sibir Energy suspended after 210m discrepancy revealed - MoneyAM


Sibir Energy says its main shareholder Chalva Tchigirinski owes it $210m more than the company revealed in two recent circulars to shareholders.

Trading in the shares has been suspended at the company's request.

Sibir says its nomad, Strand Partners, was informed late yesterday that 'various Tchigirinski interests are currently indebted to Sibir in an amount of approximately $325 million and not approximately $115 million as set out in the latest circular'.

The company had previously announced that Tchigirinski was to repay $115.4 million advanced to help him avoid margin calls on bank loans secured against Sibir shares.

The money was advanced as partial payment for the purchase of two properties in Mr Tchigirinski's real estate portfolio, the Sovietsky Hotel and New Sovietskaya. Sibir said this had averted 'a sudden and uncontrolled change to Sibir's shareholder structure'.

However, the arrangement was called off after Sibir's major Russian shareholders asked the board not to proceed with resolutions related to real estate. Tchigirinski had undertaken to sell the properties and repay the debt 'as soon as reasonably practicable'.

The company's board would 'now assess the effect of this increase in the indebtedness on Sibir's ability to recover the indebtedness and the consequent impact on Sibir's financial position'.

It says that along with the major Russian shareholders who control approximately 67% of its share capital, it will conduct an enquiry into how the errors happened and make a full statement as soon as possible.

A general meeting scheduled for 27 February has been postponed until further notice.

sorry to see i was so prescient .... mitzy .... would like to think that you no longer hold, but fear i am wrong

Sibir is so dodgy - so corrupted.



Sibir starts High Court action - MoneyAM

Sibir Energy has launched High Court proceedings against former chief executive Henry Cameron and major shareholder Chalva Tchigirinski over alleged unauthorised payments.

The company is claiming not less than $328m but says it expects total claims to rise to approximately $400m.

Sibir says it has told the FSA it believes its share price may have been manipulated and transactions made using money taken from the company. It expects its shares will remain suspended from trading on AIM for the foreseeable future.

In a trading update, Sibir says that operationally it continues to perform profitably and is cash generative.

today's info that the alleged bid was a total fabrication comes as no surprise at all .... wonder how many idiots got suckered by the initial report and bought on the grey market?