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Morning Chris,
I am with you.
The court cases are revealing in that they provide the only evidence as to what is going on behind the scenes and there is enough speculation based on what is not known.
So when it appears that there is lots of internal arguments I tend to believe that it is more likely to reflect reality than it been staged as some grand plan.
I am always more a believer in **** up rather than conspiracy and the more I learn here just convinces me more and more that I know less of what is going on apart from they are like rats in a sack.
Mad you are sounding more like RR these days .you don’t seriously think they are fabricating court cases to deplete fund do you?
Njames - IMHO the spat between ZM and SN is all about running down the money available for director's to use for court cases under the insurance, leaving SH/O struggling for funds. Both ZM and SN are aligned with SH's having converted debt to equity at 10 times the share price. SH/O has never done anything to help this company. SN and ZM have had to endure an invasion; a fall in the PoO making funds for O + G exploration non-existent; a hostile take-over; a hostile government; and arbitration, which would have resulted in the loss of Block 12 without ZM's constant interviews attacking the GD and SN's lobbying and networking with prominent people and organisations.
N j ,fair post I would say .
Quick update on the fund raise... circa £1300 spent and £1100 still active held between Puddy and myself.
I know this is a controversial position around here, so flame away, but I don't think Hope is necessarily as bad as advertised. Is he a shark? Yes. He bought the bonds at a huge discount and leveraged that into a board position and putting the Company in default to try to make a buck. It was within his legal rights to do so under the terms of the various agreements. It happens all the time in corporate world. The company should have paid the bills to avoid the default or SN and ZM honored their personal guarantees to hand over some shares. He almost engineered a sale of the company, which I'm sure many now wish had happened given all the pain and suffering over the last few years, but that was scuppered by ZM and SN, who wanted to maintain control. He is blamed for blocking financing, but the only thing he blocked was ZM coming in a t a senior position to him. ZM was free to have junior debt or equity. Finally, according to emails in the Cayman case, he was the one always insisting on better governance , better info for the board, etc. What has now been further revealed in the recent court documents is that internal governance was abysmal. So maybe he was right. If the asset has any value, it would greatly benefit from a new team, IMO.
Maybe write to our then Nomad.
After all.....They were there to protect us, at the time, from any false information being released by company.
I believe that the large, major, founder shareholders are champions of the industry. That's one of the reasons I invested. That's also one of the reasons we're still here imho.
FRR clearly has an energy that keeps it's Heart beating.
You gotta remember that it was Dopey and the Shorters who dragged us down.
The process and the politics were on-course to deliver imv.
We need to wait for this restructuring to be revealed. See how exciting the outcome.
February nearly gone. Roll-on May is what I'm thinking.
Keep your distance !
And don’t forget fshg 4.3 billion shares time to vote someone on the board get some answers
jackpack: according to what we had been told, at delist, SN held 1.710billion shares (which was 10.85% of the issued share capital) and ZM 1.040billion (6.60%).
From reading various posts over the last week I am left wondering who are the large shareholders . Does zaza have a large holding or is it none existant . Does SN still have a large holding? If a large majority of shares are now in the hands of small shareholders it puts us small shareholders in a much stronger position in any vote. If Anybody has information on this subject it would be useful to us all.