From what I remember is that manas investment came first and then the oil/gas share investment, the reasons where that manus deal did not meet the required investment target and so they did get suspended until the gas/oil investment was announced. I may be wrong but I have not seen anywhere that they have sold?
gords - Redmond (Who was sacked as CEO in March this year) did invest in quoted oil and gas companies back in 2011. This was to stop LDP being suspended under AIM regulations for failing to make sufficient investments within 12 months of becoming an investment company. If I remember correctly they were sold soon after the 12 months expired. (Another hopeless AIM regulation!!) Redmond then invested in Manas Coal. This has virtually been written off with a £1,000,000 loss as 25% of the land area is disputed and is an on going appeal court case as Manas Coal lost the initial court case, Mr Patal was put on the BoD in June 2013 by the main investors, who quite rightly IMHO sacked Redmond at the AGM this year and promoted Patel CEO. They cancelled all share options that Redmond had put in place and have cut overheads while bringing in new faces. They have said they are focused on investment in copper/gold mines in Asia. Most of us are absolutely p****d off with LDP and Redmond is to blame for this as he took over £150,000 in salary and his only achievement was a £1,000,000 loss in two and a half years. Although Patel has achieved nothing either in his 13 months on the BoD. I cannot see the sp moving up until an investment/RTO is announced. As I have stated before, the main investors are sitting on a huge paper loss. The only certain thing we have is that they will want their money back with a good return. Indeed, we are led to believe they may make more money available when a good investment/R|TO is found. My own feelings are we have to give the new BoD time. It is only 4 months since they took over and a good investment/RTO takes time. If they have achieved nothing by the next AGM (March 2015) then they can be regarded as a failure and the main investors will hopefully remove them as well. At present, LDP is only worth a punt for the more risky investor. Time will tell. GL to all of us invested here, we need it!!
I will but people keep asking me questions. Its rude not to answer. This isn't anything I would even give consideration to after reading through the RNS's and other information portals. Good luck to you as you are going to need it here.
Think you are forgetting about the investment on some oil/gas companies
On 23 May 2011, the Company announced that it had sold substantially all of its assets and therefore had become an investing company under Rule15. Consequently, Leed was obliged to have made an acquisition that constituted a reverse takeover or otherwise have substantially implemented its investing policy within 12 months from that date.
Since then, Leed has announced a significant investment in Manas Coal Limited Liability Company on 12 September 2011. In addition, the Company has recently purchased for cash shares in certain quoted oil and gas companies that have scope for medium term growth, with a focus on production and development in Africa.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.