Our live Investing Matters Podcast Special which took place at the Master Investor Show discussing 'How undervalued is the UK stock market?', has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Beaded,Think Mrs mapp has shown her daily heil xenophobic side once or twice.
My dear mapp, I enjoy your posts and your spirit.
Why oh why have you destroyed that with your Daily Mail comment?
Read the news not a comic. :))
Traders are in and out and collect their loot.
That is AIM. Chat Boards are for gamblers and
investors get caught. Reading this misleading board.
FSA wake up , close down AIM where investors go down the drain.
Ten months wages have been missed over a period of four years, not ten consecutive months....thought that had been said?
Too much fake news in circulation .
AIM must get their house in order before it goes up in flames.
Traders are on drugs. WHY? They are under pressure to loot
and lie. The Internet is hell unless one knows the market well.
Stay clear of AIM. If you are an investor who does not understand
that AIM is a GAME.
And the positives are frontera are producing. Maybe not for long when the staff don't turn up.
Things are obviously different in Georgia but how do you get away with not paying staff for 10 months? But why if you were employed would you go to work? I wouldn't
3
These are the quotes that came in the wake of the comments that led to a reduction in employees and unpaid leave. You might not be surprised to say that the unsatisfied employees were met by cynicism and even threats from the other side. That made the relationship between the company and employees even more vague and even led the negotiations to a halt. As employees told the Shiraki newspaper, they already came to the meeting with reduced salaries and a working hand, which is also unfair.
Most employees no longer believe in company promises. Not even the hope that the General Director of the company spoke about. Nor about the future they could have with the company, not the months of unpaid salaries. It seems as though people are more likely to be patient, but not in this case ... Patience has become a synonym for the struggle for the employees of Frontera Eastern Georgia.
Employees of Frontera Eastern Georgia intend to continue fighting for their rights. The only way they can see this is in permanent protests. In the near future, with the demand to receive their salaries, they plan to hold a rally at the US Embassy.
2
It is said that hope dies last, but according to the staff of the Frontera Eastern Georgia, this has been a long time coming for them and they will not do anything to help. Neither the wait, nor the understanding, nor the respect, nor the many years of working together have helped Zaza Mamulashvili, the General Director of the company, continue to ask them for patience and for the company to overcome the crisis. Still in vain. It is already the second meeting that we hear phrases like "Be patient, Wait, Drop it", that have become the words of one big, cohesive circle. A circle that has no beginning and no end.
As Zaza Mamulashvili, General Director of the company said, there is progress in the dispute over the company with the government. According to him, virtually all issues are resolved positively, except for one related to the contract between the state and the company. The company has a contract until 2027, the company is trying to extend the contract after 2027, otherwise the production of wells will be useless and there will be no time left for the investor to return the investment. According to him, after discussing the issue and negotiating with the state it will be possible to sign an agreement with investment banks and conclude a new financing agreement. This will automatically result in the company continuing to operate under the old regime and giving employees salaries over time (exact timing is not yet known!). The crisis period, he said, is until the end of January 2020, after which positive changes are expected in both the relationship with the state, investment banks and the company. (The exact time is also unknown here!)
This statement was followed by dissatisfaction with the gathered staff. Some even left the hall in protest and refused to attend the meeting. One of the women in attendance expressed her emotional distress at the families of those present: “If you go into these people's families, you will cry. Some have student children, some have bank debts, some have health issues. Look at these people, they've gone through this service and they've lived it all their lives. It is a sin and a crime, a violation of the rights of hard working people who are justly demanding what they have been for months. Do something."
“Give us your salaries. Or else no one will go to work. We will not allow the extracted oil to be passed. The wells will no longer work. How do you imagine being human, being collegial, for any of us to stay at work and the rest of us to be at home with employees and not worry about all this? ”
Frontera Eastern Georgia VS Employees
1
Employees of the oil company Frontera Eastern Georgia in Dedoplistskaro have been protesting for three months. They refused to attend the workplace and produce oil from oil wells after failing to get an accurate answer on their ten-month due salaries. On October 26, Zaza Mamulashvili, the company's General Director, met with the strikers but failed to reach a consensus. The General Director requested the deadline until November 5. Despite the pessimistic attitude of Dedoplistskaro residents, most of the staff gave it one more chance. However, as it became clear from the November 7 meeting, again in vain...
“Everything is stopped, or it will stop until our salaries are paid. I don't think this meeting will be resolved positively either. What happened before will be even worse today. Again, there will be an unsolved problem with the government in front of us. What else can we expect? I don't believe in anything anymore. The government needs to hear our voice too. Should someone pay attention to us? They shall give us our salary and I don't think I will continue to work there. "
“We don't know what to expect anymore. We strive to get what we worked for to be paid legally. How things will turn out, I really can't predict. But the fact is that all this has been going on for years. We can't move forward, on the contrary, we go back and forth. Obviously, people's problems cannot be solved. Whoever settles, then let us look and pay attention. We demand, first and foremost, our salaries. Nobody has any other interest. When a man or woman is out of work and waiting for his or her salary at the end of the month, he or she is abused for months without pay. Offers are not fulfilled. "
“I also think these temporary offers are a farce. We can freely demand whatever the company owes for 10 months. ”
“This is actually the last point we have come to. If necessary, we will arrange a meeting at the town hall as well. ”
“We have not sued because we still hoped for negotiations and agreement. In addition, the processes are often ongoing for years, which is still linked to our finances. So we're still looking for ways to improve. "
“Time works against us. It is with these promises and the delay of time that we have come to this situation. ”
It sounds unbelievable, but it is still the sentiment of those who wrote in our newspaper article of October 26, 2019, " Sisyphus’ Patience as a Punishment." There was no way out of the hardship and long-suffering of the front-line staff at Frontera Eastern Georgia. Many months of unpaid salaries, unanswered questions and still disgruntled employees who spent about two weeks confused and who came to the meeting hoping that at least some of the promises would come true.