Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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PLEASE WHEN WRITING TO HIGHLIGHT THE FACTS...
THE BOD ARE ONLY REDUCING THE BONDHOLDERS DEBT BY $50m FOR EQUITY WORTH 95% OF THE COMPANY AND NOT THE WHOLE BONDHOLDERS DEBT OF $230m..
This is the important issue ...to highlight
I sent on Saturday and like you I also hope he will take this up with an article and bring this BOD scam to the notice of many more
I also agree the BOD and CA and other large holders most certainly are reading these posts and more we write the more these BOD’s will shake in their boots
As I think they fu...k..ed up big time and soon we will be able to vote them out and put honest and caring and business minders in charge
..cont
Swapping equity for $50 m of the total Bondholders dept...
Senseman, just highlighting that Anne post i wish i could paste and copy it to move it up very day it stops senseless bickering from some.
Alavib...” The company owes the bond holders 230 million dollars which is not due for payment till July 2022
Now the company’s BOD has decided to pay this loan earlier than due date without the consent of the company’s share holders
Doing this by way given the bond holders 95% of the company
Please note the company currently has over 130 million Dollars in net cash ”
Just to add that the BoD are only propose to give 95% of the company in shares to Bondholders in exchange for $50 m and the company continues to owe $180 m to the Bondholders!
So the BoD only
Alavib, when did you send that to Shah of ST it will be interesting if there is follow through from him.
Kettle
Apology. simple error
Anne37 post Sat 17.09
SKY-RIDER post Sat 13.32
Do you mean Anne post 17.09 Senseman ?
Please see my email to Oliver Shah of Sunday times
Just an example of what other folks can edit copy etc when sending to the right people
Dear Sirs
I am a long time share holder in the above company
The company owes the bond holders 230 million dollars which is not due for payment till July 2022
Now the company’s BOD has decided to pay this loan earlier than due date without the consent of the company’s share holders
Doing this by way given the bond holders 95% of the company
Please note the company currently has over 130 million Dollars in net cash they are producing over 11000 bo/day at price of 68$ per Burrell meaning in 15 months time the company will have sufficient fund to pay off the bond holders and have some extra cash left over
The company is planning to go to court to get approval for this scam and have quite blatantly disregarded the opinions of the share holders whom own the company
This is clearly a conspiracy and a scam to dilute the company’s share capital without any reason or indeed any need as the loan is yet 15 months to run and company is earning over 700K $ per day given the price of oil at the moment which is likely to go up even further
We ask FCA to protect the company’s shareholders against this BOD scam which had self interest written all over it without any regards to the owners of the company
Please respond and let me know what legal actions are available to us owners of this company
SKY-RIDER post Sat 13.32 details the FCA writing, and the BoD's rebuffed approaches to 2 major shareholders
anne37 post Sat 13.32 details the weakness of the BoD position, and personal financial & criminal risk they are now exposed to
On 13 May the BoD issued a 269 page 'Explanator Statement In Relation To The Restructuring Plan'. Within that document are 3 crucial recent developments it was legally obliged to include. Both developments occurred since it first published 'The Plan' in April:-
1. The FCA (Financial Conduct Authority' have written requesting explanation of various historical statements, and recent developments ie: 'The Plan'. The BoD state that the FCA enquiries are at a 'preliminary stage, ie more will follow.
2. Since April, ie: since 'The Plan' was announced, the BoD have approached a major shareholder requesting it to stump up enough cash to negate the need for 'The Plan'. The BoD, of course, would remain in situ. The shareholder refused.
3. Since April, the Bod have invited a 2nd major shareholder to engage in 'confidential discussions' wherein, inter alia, bondholders' identity would disclosed. In short, the shareholder was invited to 'wall cross' - ie: to join forces with the BoD and be legally obliged to keep quiet. The shareholder not only refused to do so, but has formally written demanding the resignation of both the Chairman and a senior Director.
The only explanation for these developments is that this forum's (and other) effort in bringing Hurr to the attention of regulatory agencies, MP, etc etc has had a significant effect. The evidence is clear - the BoD are scared, and are belatedly holding out olive branches
I therefore urge all readers who have not yet written a complaint email to do so today. A single email can be written in such a form that it can be copied to all necessary parties. Please make this your Sunday task. Posters have listed where email should be sent, and listed main points to be included. It would assist if periodically those posters could continue to repost (copy) the details of whom to contact etc so that details remain out front and large.
Two posts I regard as INVALUABLE to be read regarding the above, and generally are:-
a) SKY-RIDER post 'RE-CA' Sat 13.32
b) anne37 post 'RE - Market Abuse & Manipulation By Board of Directors', Sat 17.09
Lastly, I assure you that CA, Kerogen, and Hurr BoD will currently be expending as much time as we do reading this forum. I
view CA and Kerogen silence to date as a positive, not a negative. I expect one one of them to break cover this week.