Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Sorry I meant Billion.....!! £240bn. Just let that sink in...
FT headline two days ago 'UK faces £240m bill for electric vehicle charging points...' can't have done any harm! Fulcrum well positioned to service that....
https://www.ft.com/content/9cba0522-f564-11e9-b018-3ef8794b17c6
I agree, very unusual recently.
We shall sit tight and hold until the brexit storm blows over. Nice dividend payment today though!
I had a complaint the other day about sp movement and I stand by it today, how on earth can FCRM move up 10% on £20k worth of more buys than sells? no news that I have seen, and generally the market has gone lower, logic there is none.
Don't get me wrong I am a holder here and I would like to see fair value imo that is a lot higher than we finished today.
Ji5006
CEO CFO matters little they both departed in quick succession so is there a link or was the renumeration vote the reason for the CEO leaving with immediate effect. My guess today has changed. I'm linking the CFO and CEO together on this in part because as you point out the CEO was the previous CFO. My guess is major shareholders looked into and demanded action over the delayed and mistated accounts. As a result both CFO and CEO bore the blame. Pretty normal in any quoted company where management make a mistake but there remains the question how will FCRM now progress. New CEO to be found and CFO in place is anyones guess but 4sure there is a 'power play' going on and my favorite option remains Bayford with 'ghost' brokers holding high numbers of discretionary shares for who exactly.
All theory of course but my old 'stop' at 20p remains in play
Jab
Harrison was CFO b4 CEO
I am sure the BOD want his holding sold. Choices - no!
For the record Harrison was the CEO not CFO and if he has any sense he will not want to get rid of his holding at this distressed level. Bayford & Co still hold 10%. Who knows what their intentions are but no record of them selling down or out.
Obviously the daily SP drop is a concern for us all on such a lightly traded AIM stock. Why is anyones guess but going ex divi was the catalyst with no good news since so were closing in on 20p. Whether we get to that level depends on FCRM trying to address the SP drop. Have my doubts and now becoming concerned there exists some negative issues around FCRM.
All theory of course but why is such a profitable company, as far as we know, having its SP hammered daily. Only option as I've said before is if they're taken over, difficult to see any other option for the SP to recover.
Harrison has gone and his 3.7m shares are with the broker
Suffer and wait
Harris as CFO will not want to disclose until he has to.
Chair PH will wait.
.
I can't realistically see how this can be dropped 5% on £47k of sells, and dropped on previous days on even less, unfortunately unless folk here have a low average i can see FCRM being taken out for a low ball price, and losing out.
The company is set for growth in smart meters and charging points in addition to their standard fare, very little debt, if a company was to start up tomorrow they would find it very difficult to replicate FCRM diversification and flexibility to suit the changing market conditions we have today.
If there had been large sells going through it might point to something different, but this is being walked down because it can be, nothing more.
What's peoples opinion on the current share price?
Is it subdued simply because its gone ex-divi? And if so do you think we'll see an upturn after this Fridays payment date?
GLA!
Not sure I agree on shareholder rights on AGM date. My understanding is that if you held shares in say June you would have voting rights because revised accounts were delayed to until pre AGM. This really is the talking point. The issue is against the renumeration package that was voted down and anyone holding shares had the right to vote on this specific issue. This may in part explain the mystery around the CEO sudden departure. He will have known the result of the vote beforehand and left because his salary incease was to be blocked.
All theory of course but we are seeing downside again on the SP. Only when matters at FCRM are fully explained plus positive update will we see upside. My view now is that only an offer will see true SP value.
CJ
Of course.
Voting relating to Mar 19 accounts concerns shareholders invested. Subsequent investors should have no say in the matters relating to that year. Though they may raise matters subsequent to that year.
Shareholders must have the shares at the time of voting. It's not like an ex dividend date entitlement.
As an extreme eg you can't rock up at the AGM with 29.99% of the vote tabling getting rid of the entire board - if you have sold all the shares the day before.
Your votes - actual or electronic count as nil.
In terms of CFO's - merely states - notified of intentions to step down & valuable contributions to the group. i.e. it's under the carpet!
Ji5006
Understand your comments but my guess is that any shareholder who holds shares on the Vote Date has a say and that is why the likes of Bayford possibly put the knife in on the renumeration issue. My guess is that BR had no interest so no vote. I had a Corporate Action letter from my broker on the vote but I've held FCRM for some time so maybe irrelevant.
All theory of course but obviously a major shareholder is behind the no vote and at least it shows there are checks and balances on what happens within FCRM. My guess is whoever was behind the no vote will be appointed to the Board in due course. Not sure on Aim rules but normally over 7% gives the right to ask for Board vote on inclusion.
Strange times with FCRM but again I would like to see some positive news now the AGM is done. Knowing that you read the report was there.anything on the sudden departure of the CEO
Harry
BR have sold up - June disposal - but they still had their holding at 31 March. You don't get your dividend if you are not registered at ex div date - so surely you have no say in accounts relating to 31 March if you buy in June?
Ji5006
Thought that BR would now have limited interest in FCRM now given their reduced holding. On the vote surely its based on the Voting Day which was when?? Holdings on that day would reflect on my view that Bayford are one of the major players in the No Vote.
Harry
Shareholders at 31 March are relevant - aren't they? So it might follow that Blackrock who had 10% + were responsible. Bayford came into play in June.
Only c20% voted - 43m out of total 221million shares. My shares are with HL so I don't get a voting paper from the company.
Ji5006
Are we to assume that a major shareholder, say Bayford, is the reason for the No Vote and attempting to control the Board of FCRM. I think in Russia its called a 'Putsch'??
Whatever the reasons for the No Vote the Board now know that they are being 'watched' but on a theory basis is it possible that now a possible takeover option is more likely. You have likely read the whole report but voting rights with a majority shareholder can force a "seat' on the Board which looks to me like a possible next step. Keep banging on about Bayford but my guess is they had a major say in the No Vote.
All theory of course but would be nice to see some up days on the SP its been a painful and slow decline
well regardless of the AGM result the buys are thrashing the sells 10:1 atm
I think the protest from share holders in completely justified.
Not a year ago the share price was in the 60's, the board need to address this stupid decline ASAP
think as you say this seems a protest rather than an actual fat cat problem, and appears to have caught the board by some surprise with the - having to go back and explore with the major shareholders.
In this case I think it is good news as clearly the major holders are not prepared to allow any papering over, business as usual carry on, as with most AGM's. They clearly want to see under the bonnet, that must benefit the business (and us), unless they find out there is no engine - fingers crossed it's easily repairable!
Something seems a bit suspicious.
And now that RNS has been posted - a bit slow - you can read it.
£100k shares buy things seem on path up.
Just a comment on the result of the AGM
I thought a simple majority and it would pass.
But, since the remuneration report has several aspects - CEO salary, Chair salary etc .
The annual report shows the salaries paid - p30 or thereabouts- Harrison c£250k, CFO c £160k - not massive salaries IMHO -
221 million shares - 43k shareholders voted - at the AGM. 25K for and 18k against
Phps reading between the lines a lot of small shareholders are unhappy about the SP and the remuneration report is just such an avenue.
Coy said it would review the votes - in particular aspects - I guess - and will comment.
Is it essentially a vote of no confidence in the BOD?