Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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morning all, JEMA is up and running as a ticker on lse.
Please do keep up your activism there.
FYI: I sold out of JEMI because it was rubbish.
If only 20% of the votes were required to be used for any vote to carry, it’s hardly a vote?
Least they can do now is give us ‘pre’ RI shareholders a seperate class of share that appreciates & compensates us for our ongoing WILLING carry of ALL risk on Russian assets.
Doubt this bod will be forking out on a RI, as they own NO shares. They’re pleased they have their(JPMAM) ‘income’ reinstated though.
Of the same opinion, the accountant ‘yes’ man Sanderson has to go.
https://www.londonstockexchange.com/news-article/JRS/result-of-general-meeting/15728218
Some of these features writers in the investment space are impartial to the point of being dull. And also patronising towards PIs.
All the more reason why I hope that we can pull our Board into line next week. Let there be no doubt amongst those not clouded by morally fuzzy, herd-like, short term thinking of IIs, that the resolutions would be materially harmful to our wealth. It's trully a no-brainer.
Fantasitic work dog and huge thanks for all the work that must have gone into helping to get the message out there.
80% retail
thank-you....
what is the reckoning on proportion of retail to institutional investors?
Get your votes in:
https://www.investmentweek.co.uk/news/4060212/retail-investors-plan-vote-jp-morgan-russian-securities-mandate-changes?
trailing return 0.37%.
JPM charges 0.2%
is this the most sensible use of IT funds they could have come up with? the IT was hardly invested in AAA borrowers .
Bowowow... just spoke to HL, they say they will register my votes, and confirm via secure message end of today.
Regards ownthing/dog,
Credential wise Lazards are well endowed to provide
‘capital restructuring’ advice input. Their staff highly motivated owning two thirds of Lazards shares.
Hypothetically the short time frame of 5years to tender/continuation 2027 vote , this target probably allow ‘favourable’…..’capital restructuring’ of the RI type. With JRS capital/income payout & bumper IB bonuses all round?
All *!@!* ankers (bankers) together.
As HL receive commissions to promote investment trusts , anyone’s guess where their loyalties lie. Voted a staunch NO anyway. GLTA.
Dog, I've had a notification that you sent me a private message. Sorry, I can't access it as I'm not a premium member of this site.
Thanks, I've sent secure messages. Hopefully HL will comply.
Eric Fenton Sanderson is also a NED for BRGE...they are collecting votes for AGM at the moment (closes Dec 2nd)...am using ii and exercising my right to vote against his reappointment and recommend others do so.
slownsteady...tell HL it is an EGM not a corporate action..they do know how to register your vote. (I've done it..had to nag them a bit)
FYI I believe the deadline with HL is Wednesday - "at least five working days prior"
If JP Morgan wish to get out of Russia, they should do the decent thing and buy us out at the (properly calculated) NAV + accrued dividends, rather than the peanuts THEY have chosen to value the Russian holdings at.
Their reputation for integrity and probity is on the line here.
No dog.. when I called them, they said they hadn't had any notification of corporate actions yet, so couldn't take my instruction. Can you please let me know as soon voting is open? When is the deadline?
We have a very large holding, so I would like to make my vote count.
what I don't get is why CLIG or Lazards or any other large shareholder would deliberately vote to sell out the on the Russian share value now
I agree with you entirely, bourgie.
All in my opinion:
Shareholders must not stand for Sanderson's nonsense (nor that of the other directors). he is failing in his legal obligation as a director to look out for our intersests. he is looking after his own interests. Those are advancing his career as a serial non-exec (just check his records on Companies House). And guess how he gets those appoointments- it is by taking care of the hand that feeds him (namely JPMAM). If one wanted a illustration of the proximity of the relationship between Chair and JPMAM, one need only look at the video of the 2022 AGM. Behind the then Chairman is the 10 foot logo of JPMAM.
I am enraged to see an RNS as to the board's CURRENT intentions. Clearly, such a statement says nothing of intentions in the future. I have no current plans to take a nap. To spout this kind of weasel wording is grossly rispectful to the reader and we deserve better. Of course, we can't expect any cast iron guarantee as to the board future intentions, but to say nothing of this makes me very suspicious, especially when coming from the same board who are proposing the resolutions tabled for 23rd which are so clearly not in the long term best interests of the members as a whole (even if JPMAM would like these, and if City of London AM would happily aid and abet such a daylight robbery by funding a rights issue that PIs don't have the spare change to participate in).
Why after all the hard work (£70m+ spent buying back 12m shares@£5-£8.80 [2017-2021) would we want diluted to the hilt?
RI(plural?) benefit shareholders with access large cash (CLIG etc.?)
Shareholders with MOST shares after RI(plural?) own/get paid MORE of NAV/dividends/continuation & tender(vote2027)
Fee rise £140K now - £3m+ future & ‘backscratching’
maybe enough motivation.
For ‘benefit of members as a whole’(???)
Me I’m voting NO & think Sanderson should GO.
Message them on the app
If given the choice (HL declined to take my Instructions when I called them a day or two ago) I'll definitely be voting "No".
https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/gb/en/annual-general-meeting-and-general-class-meeting/annual-general-meeting/jrs-circular.pdf
Here is the circular, including our Chairman's explanation of the rationale. His explanation does not convince me in any way that we are being taken down the right path. There is simply no logic to his postitions. he complains about the trust not being able to deploy some £19m into equities, and yet it was this board who sold promising Kazak assets in May (realising this cash position) so as to 'de-risk' the trust.
It seems like a classic case of deciding what outcome is desired, and working backwords from there in attempting to come up with a narrative that justifies the outcome. (The 'desired outcome' being that desired by JPMAM who wish to distance themselves from Russian positions that it can't even fully charge investors for, and JPMAM then pulls a spineless and shameful Chairman's strings to this end)