I'm interested to understand why people say they are supporting Afren as shareholders.
Let me explain my understanding before I'm shot down.
When Afren came to market - the shares were purchased by a range of people and businesses. Since then, many people and businesses have sold and bought etc - which would have happened many multiple times - and so it goes on .....
When I bought my shares back in Feb/March, I believe I was buying them from other people selling them. Not Afren selling them.
So, am I right in my thinking on this - that shares purchased at the beginning - that money went into AFREN, whereas the shares bought and sold after, many multiples of times - is traded between individuals and actually has no up side for Afren in terms or receiving cash. These shareholders are not the original people who 'supported' Afren.
I'm at a loss to understand why people say (those later down the line), that we are loyal shareholders if there were many multiples of buying and selling down the line and we are not the original people that bought in to Afren and Afren therefore never benefited from us buying those shares.
I've got a few questions for ASOG if one of the committee members wouldn't mind answering it would be most appreciated. 1: are you all in agreement as to which direction you are heading? There seemed to be a bit of infighting earlier on the board, I was surprised this happened on a public forum as you have stated you are in regular contact with each other by other means, or was it a way of putting arguments out there to gauge reaction on a busy day? 2: if you are all in agreement what is your strategy? Work with Afren or take the legal route? Or something completely different? 3: I wouldn't expect a name or any information that may identity the Afren employee you are in dialogue with, but could you confirm if they are mid management or higher. 4: do you think any of your registered no voters would have sold out on the spike today, if so do you plan to contact them all to re-establish your numbers. Please take your time to answer these questions. Thanks in anticipation, Andy.
"An oil casualty Look at Afren (LSE: AFR), for example. The Africa-based explorer has suffered woes, from its CEO and COO being kicked out for making "unauthorized payments", to the firm struggling to repay some of its debts and needing interim funding to keep going. Along the way there was an aborted takeover approach from Seplat Petroleum -- but at least there's a new CEO on the horizon now. All of that has battered the shares, which are now down 98% over the past 12 months to just 3.2p. Where do we go from here? It all depends on the outcome of the firm's future funding and how much dilution existing shareholders stand to face -- but at these price levels, a few pence either way could make a massive percentage difference. It's a big risk for sure, but I really wouldn't like to try to call it right now."
I am happily married father of two too ... I am 44 but look younger. This afren saga has captured my imagination and I am in this for the long term. Really appeciate your efforts. I might be at agm. BW GB.
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