Just looking in - seems the ORE shareholders are in a very difficult position - you vote for more dilution or the consequences are probably pretty bad. What can I say - it's unbelievable that this can occur - feckless BoD - I hope they are not taking remuneration for their total incompetence - yeh right! I can only wish you long term holders good luck - but this BoD need holding to account - not sure how you can do that with such a fragmented shareholding.
You know as far as I'm concerned they shouldn't issue any more shares to anyone without us as shareholders specific authority on a as required basis so I hope this does get voted down.
I might even be tempted to partake of a placing myself (with warrants) providing they identify precisely what the purpose is for & I/we think it has merit..... this authority to dilute us to c r a p & back they've had previously & are asking for again without closer PI control doesn't work for me any longer with this company.
I also need a 35 bag to break even & am significantly under water & a 35 bag just ain't gonna happen so if they need money they can ask me if I want to buy cheap shares with warrants before they give any more away at what to me was a clear discount to the potential.
Apologies, may have posted incorrect data Re: non pre-emptive share issue, thought they could only issue a further 5% to 7.5%, which was c £70k, however, have just had the AGM letter which mentions share issue of about £588k. Don't understand, but doesn't matter really as voted NO..........BoD are big bunch of robbin barstewards.
I see the LSE share chart for ORE goes below the line and shows share prices in minus figures. Good to know that they are well prepared. I was once hoping that ORE might keep me warm in my retirement, but it would have to increase 35 fold just to recoup my original investment. As for my retirement, I reckon it would have been cheaper to roll up an occasional tenner and sling that in the log burner. It's all very well them asking to issue EVEN more shares - but are their enough MORONS out there who would want to buy into this!!
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