Seems MA was and is in fact a bit of a turd then Smudge. That kind of response has left me quite furious, considering he has used our money and subsequently now slipped away, ill or not, out of the firing line.
Apologies for late response. POETS day and I fancied a couple of pints down local.
Yes I did receive an email from MA saying he (BMR) did not have to respond to shareholders!!! Kind of sums up what he thought of us.
But, he's not running things now, hopefully we have in place someone who does have time for shareholders. But if AB is going to be clear, concise and upfront with us I really think we should give him time to go through the company with a fine tooth comb and clear out the crap however bad it is. I'm hoping once the crap is gone we can really move forward and news/information regarding our projects/plans and info will be more forthcoming from BMR
I'm willing to give AB the chance to turn things around in our favour, I think we all should.
But, yes, that chance has a time limit and if it passes I will be more than willing to join the list calling for an EGM
Nevertheless, BMR is not a massive company. You know I'm ACA by profession. I spent 6 years in audit, both in practice & in banking. Getting to the bottom of thus company won't take long, we are tiny, with a small balance sheet. You could depth test each of our assets in a couple of weeks.
Really hope we get something definitive quicker than the spring! Cheers
Chimey - lol, now you're sounding just like my clients. They would first need to find out what's been going on with the old lawyers and accountants - 21 days for that is reasonable. Then, the new lawyers need to go through it - another 2-3weeks. They will need to ask qquestions, another 3 weeks to reply. Through Xmas, annual leave, sickness etc into themix and you are wwell into the new year.
They might all give it top priority, but why should they? I know how long these things can take, hence Spring for me. Hopefully it will come earlier, especially if they are going to have an AGM which would be a bloodbath without news, but you can see how time can drift by.
Think everyone is for giving AB some time to resolve the issues he undoubtably faces. That said, the timescale to resolve issues must be reasonable.
IIRC, you're a contract lawyer by trade. There can't be many agreements to review, so I would expect the external lawyers to be able to establish our legal position within a couple if weeks. I wouldn't expect the accountants to take much longer. Say maximum a month to investigate, a week to compile the report, early Dec latest for concrete news to shareholders. Spring next year is way beyond my expectations.
I had in the last few days an e mail from a resident who is in a business about 15/20 Km from Kabwe. They made the following comments." I have tried to find our what is actually happening with regard to activities of BMR without going myself to the site area, However no one in Kabwe seems to know anything about work or activities of BMR" I would have thought that somewhere along the way Kabwe traders would have an ear to any movements.
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