Might be worth posting a message on RMP iii forum to gauge initial level of shareholder support there. I have just registered but need to contact iii before being able to take part in discussions. If anyone interested in forming the action group has a iii account maybe they could start the ball rolling there, otherwise I will as soon as I am able to.
I'd say the best approach would be to take things off line. This would enable (a) confirmation as to level of shareholding and (b) agreement as to desired goals in approaching Bandy/requesting an EGM. Bandy should start to take matters seriously if he is approached on a professional basis by a group holding a decent chunk of shares. After all the threat of one of the three JV partners going native after a shareholder revolt is the last thing the JV would want at present.
Bandy only raised the funds as he thought he had an oil discovery on the first well to allow testing....he did nothing to protect any downside! We need a leader here to take shareholding numbers and approach bandy? Make no bones about it bandy won't respond so we then go to fox Davies and raise the aim rules to call an egm ....he won't get out of that!
As I've said in previous posts Bandy was a genius for making that small placement around the 36p mark which left RMP with 12 mill in the bank and a certainty (if such a thing exists) that there would not be a need for dillution for the foreseeable future so I'm happy with that. The fact that he has only ever copied the RNS releases and his constant silence to us investors is just not acceptable for a company "leader" and for that reason alone we need to hold meeting. He has taken a salary for pasting a couple of reports the share price continues to dwindle and it's time we were heard.
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