Just hold on a minute. You are saying exactly what I am sayin.
In the case of NEW the concerted party is headed by Ben Turney. Others have pledged their shares to him as I said. Indeed did you know it is criminal offence to garnish support amongst shareholders for any corporate action without first forming a concerted party.
You state - " PIs only need obtain a Letter of Representation from their stockbroker which effectively nominates and authorises the beneficial owner of the shares (the PI) to vote on behalf of the nominee holder (the stockbroker)"
Wrong. This is what you do when you intend to vote. Forming the concerted party is a completed different matter. If you read the NEW link you posted you will see a host of names in the list headed by Ben Turney. Now where do you think he got all those names from. I will tell you where. The share register.
Bergen were not needed to support the resolutions because the company had already received the required votes. Had the shareholders done what you suggested the directors and Bergen would have had to of moved up another gear.
All of these AIM dogs have fool proof mechanisms in place to prevent PIs making director changes. They all deliberately carry unsustainable debt so if push comes to shove they can always place the company into administration as a last resort.
You are not as knowledgeable as me in these matters.
"The first institution that would prevent you from getting together is the London Stock Exchange. To call a GM a party or concerted party must own at least 10% of the voting rights. Therefore by default it is only institutions or an individual who holds 10% of the voting rights can call a GM. PIs cannot add all their shares together and call a GM." ===== JoeLeForce, thanks for responding but you are mistaken. PIs can and do combine their voting rights into a single concert party for the purpose of requisitioning a general meeting and tabling resolutions. That is exactly what is going on at New World Oil & Gas - see: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=NEW&ArticleCode=6wvxxc3k&ArticleHeadline=Holdings_in_Company
"Firstly ask for their shares to be put into certificated form. This is required for validation reasons." ===== Wrong again, I fear. PIs only need obtain a Letter of Representation from their stockbroker which effectively nominates and authorises the beneficial owner of the shares (the PI) to vote on behalf of the nominee holder (the stockbroker) -- or to assign their votes to a named individual PI who then acts and votes on behalf of the entire concert party. Easy peasy, as long as the message gets through to enough disaffected PIs.
"The hard part would be the logistics of what you're trying to do which is to remove a director. Adjusted for the 100 - 1 consolidation the directors have about 40 million exercisable warrants" ===== Are you seriously suggesting that the directors would stump up to exercise warrants at their average exercise price which is approx 500% more than the current SP?
"The debt to Bergen is currently greater than the market cap (Source RNS 28/07/2015). Bergen could convert at anytime." ===== According to the 6/08/2015 RNS, Bergen held 15.8% of the voting rights; but they didn't use them to support the GM consolidation resolutions and you would have to wonder why not. If the resolutions had been rejected, they would have lost a nice little earner. In any event, PIs could muster a lot more.
korky16 - "Don't forget JLF you are on a final warning for your constant disinformation about the company. You are not invested in MTV and are working in a group attacking the company"
Yes that's right I am on my final warning so I can only post factual information. The group of people who you say I am working in to attack the company are about 10,000 strong. Do you know who they are?
Please be quite for once, i have had enough of your constant ramping, i am 99% confident you hold hardly many shares. Anyway, back to research on anything mtv is doing currently.... If you know of any, please post.
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