I agree tom winnypenny really doesnt make sense to me either and i dont think he is a person to follow blindly like some do, lets give patel a chance and see wat happens majority of us are down my average is now 16 lol i also dont think limited follows redmond blindly mate, i spoke to redmond twice in the days leading to his resignation and he new a vast majority of pi's including myself were not happy and he said he would resign if needs be to help ldp going forward, and true to his word he did, as for limited mentioning some pi's jumping on the bandwagon claiming to have millions upon millions of shares i believe him to be correct if u know bb's then you will know there are many pretenders doing it for in their own little minds just for a laugh! (The one post crew)Thats just the way it is! Anyway as you said heres hoping it all ends good gl to you and all genuine ldpers :)
Thanks for posting this info Monkeynut. The main investors put Patel on the BoD last June as they were not satisfied with Redmond doing nothing for 2 years and suffering huge paper losses on their investment. If Patel was voted out as Winnifrith is recommending/hoping, I would think the main investors would pull out, taking their investment with them (despite being at a huge loss) which would probably be the end of LDP. Winnifrith seems to speak with a political mind rather than a financial brain. Redmond has gone. Now the new people have to prove themselves and quickly. It was unlikely Patel was going to do much while Redmond was CEO (if only in title). The main investors have been very shrewd in my opinion in taking over LDP and it's listing. I don't think they intended this with their initial investment, it was due to Redmond's failures that led to them putting Patel on the BoD and then taking over the company. Although bigmj leading the revolt was the final straw for Redmond and in fairness to Redmond, he walked before he was pushed, as limited often stated he was not running the company. Although he still took £1460 per week for doing nothing. Time will tell what happens, but it is a positive move to get rid of Redmond. The sp has moved up a little, meaning it seems the right decision and all but limited seem pleased to see Redmond gone. I have no wish to exchange childish trades with limited, but his blind hero worship of Redmond is somewhat astounding and to call some investors here liars about the number of shares they own is both insulting and arrogant and totally uncalled for. Here's hoping WE all do well in LDP. GL all.
Although i would like to stay positive. thats another director who is in but has not delivered anything. Both have failed at the moment.
News on investment is needed asap.
Some posters here are extremely positive on the backing of no evidence. only hypothesis of what they think may happen, i personally think that as its taken so long to get here there may be a while longer to wait till for anything positive to come out of this.
Getting rid of Gibbs and Patel would require an enormous effort in assembling proxies from thousands of private investors. It is tempting to say one down two to go but I am not sure that I have the energy. But if anyone else is interested in this project I’d be happy to assist.
Peter Redmond quits as Leed Resources chairman – no need to go to AGM after all BY TOM WINNIFRITH — THURSDAY 6 FEBRUARY 2014 ________________________________________ Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article. I have written some harsh things about Peter Redmond, the chairman of AIM Cesspit listed Leed Resources (LDP) and bought £7.50 worth of shares in his company to attend its AGM today to ask questions and push for his departure. But I guess I am now free to lunch atMaribelle’s instead, because Redmond has this morning announced that he will be standing down as chairman after the AGM with immediate effect. Before I crow, I should say he has, today, acted with honour. Some crony capitalists would have dismissed me as a crank and just carried on trousering the dosh. I chatted at great length to Redmond last night and I give him full marks for what he has done today. I may have been an agent of change at Leed, but for quitting as he has done I am now setting up the Official Peter Redmond fan club.
Redmond accepts that Leed has failed its investors. The blame for this should not just be levelled at Redmond but also at the other two directors (Gibbs and Patel) both of whom are up for re-election today. They will be re-elected because just two shareholders from the Orient control 23% of the Leed equity. And they have, as usual, proxied in support for their men. As far as I can see these folks do pretty much nothing for their dosh and add no value whatsoever. I sense that Redmond wanted a better board to work with to turn Leed around. I also sense that Charles Zorab, who I also know, and who has joined the board today will face the same issue. But Redmond was not going to get his way, he accepts that Leed has not delivered and so he has walked without, as far as I can see, any big payoff. So in that sense I congratulate him for, today, acting with honour.
In doing the decent thing rather than just trousering the moolah while clinging onto his non-job, Redmond has differentiated himself in a very big way from the sort of crony capitalists who control so many AIM companies. As for Leed? Let’s see what Charlie brings to the table. The two previous enterprises where he has been involved and which I have followed (Hambledon Mining (GBGR) and Watermark Capital now Armadale (ACP)) have not exactly been glorious successes. Put it this way: if you look at their share price charts upside down they look like spectacular winners. Maybe it will be third time lucky as I shall keep an eye on Leed. It strikes me that unless it can change the other two directors and bring in someone of proven talent (I nominate Adam Reynolds) this is a stock going nowhere at all.
Again, as no one listens, I'm not disputing your share amount. I don't believe the 1 post wonders and the amounts they declared. I also don't believe the little revolt caused a change in the bod. Patel was in charge, the revolt was irrelevant. It's part of a process that's been going on for 10 months. If we get involved in a mining operation in a remote area, we'll need power (piri maybe) We may get involved in oil/minerals, who knows? All that matters is making a good investment. Singapore is the hub of money for investment in Asia.
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