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i just had got my head around their reasons for disposing of the 80%, yes it was "cheap" but i understand the difficulties surrounding needed capital raises for license renewal and drill campaign. and had come to terms with this.
But today this makes no sense.
Forum dangling the idea of RTO targets infront of the board makes no sense because Forum is a Ltd shell with no assets.
If you want to dangle actual assets and prove viability it should have been say SALTFLEETBY ENERGY LIMITED or whoever owns the assets they want to offload as the purchaser.
I can't understand the logic behind all her actions, but then I don't have full knowledge of the finances or strategy. What is apparent from today is that multiple parties were prepared to pay a significant (up to almost 100%) premium for a sizeable chunk of the business, suggesting we are very undervalued at the current point in time.
I don't buy into many of the conspiracy theories here. I think Zen were opportunistic at the right time and sadly Aligns hard efforts weren't robust enough to allow a credible alternative within the timescales. No disrespect to Align, but Zen had weeks to prepare and Align had only days over the Christmas holidays and without forthcoming information from the board to help them.
I hope SC is being open to all genuine offers, even if there is some personal feuds. Seems she has turned down some very decent proposals from Align and I hope the reasons become evident shortly.
I did email Align about an EGM and investigations into AAOG board - but no response as I suppose nothing in writing!
Well if you are reading this align for as long as I hold them You can consider my shares towards calling an EGM to boot them out, ~4.1m
Wile as she holds no shares herself and every decision she has made has been detrimental to the company’ s demise her actions are to be expected. Her aim seems to be to close the company down but she is not finding it as easy as she thought it would be, or perhaps as she was told it would be. However as a ray of light the longer this goes on the more mistakes will be made so easier to prove her intentions at a later date.
It would have given Align a powerful vote for I expect a planned future EGM. However, I fail to see how SC can justify not accepting 0.65p to close out the death-spiral facility.
In any case, fantastic news to have the CLN removed. Subsequent news should make for much happier reading I expect as Zen push things alone.
Our BOD seem to be rather frightened by Align and seem to be doing what thy can to keep them away. Twice now they have been the highest bidder and been rejected, I wonder why. We must all stand by and support Align in any way we can as they could find out the truth behind all this and build us up again.
Wouldn’t it Be a shame if Align Buy out the Riverfort CLN at <0.65p
If anything it has upped the vwap for the CLN.
Zen down again today so that’s currently going in our favour too.
That’s my girl Sarah get rid of those shares before a better offer comes in, pay the pensions, find a fictitious atog invoice and tell us we have no money left
job done then take your board place that DS has waiting for you.
20-Jan-20 13:26:53 0.50 84,041,011 Buy* 420.21k