Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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RNS Options awards......
"...were issued on 30 October 2020 ..."!!!!!
So the options were awarded in October - and it takes until mid May to notify the markets.
Another example of the complete and utter contempt this company shows for shareholders!
CEO out!
so the saga goes on, well done for putting that up. (i reckon lekoil is the african eastenders) lol. gla.
It would appear that Metalon have their own internal issues to resolve before progressing any developoments at LEK.
It would also appear that they are being blocked by the fact that they have bought in to Lekoil, but have no rights or influence over Lekoil Nigeria.
Bit of a stalemate - and with the total cretin Akinyanmi we have as CEO, who's only interest is in feathering his own nest through loans and infglated salary - I cant see this going anywhere anytime soon.
We nned some fresh blood on the BoD, with the Companies best interests at heart.
If they got their fingers out- and developed some assets, there is no way the shareprice would be in the gutter, and that would prevent any further takeover thoughts!
https://leadership.ng/mass-board-resignation-hits-lekoil/
Mr. Michael Ajukwu and Mark Simmonds have stepped down as non-executive directors of Lekoil Ltd, an oil and gas exploration and production in Nigeria.
Both resigned on Wednesday in what Industry observers see as major internal crises.
Ajukwu was made chair only in January, and following his exit, Anthony Hawkins will step up to interim chair until a permanent replacement is found, report by MorningStar indicates.
In resigning, Lekoil said, Ajukwu noted that, “a fundamental misalignment of objectives amongst the shareholders of Lekoil Nigeria” and said he believes new directors are required to address the issue.
Lekoil appointed two new non-executive directors. Marco D’Attanasio is chief investment officer at London-based investment management firm Hadron Capital and is on the board of London-listed cryptocurrency miner Argo Blockchain PLC. Al Tindall is senior counsel at Hardwick Law Firm LLC in the US.
Apparent crises hitting South African mining company, Metallon Corporation has derailed its attempt to takeover Lekoil Limited
At the moment, two out of its three board appointees have resigned in quick succession.
Mr. Michael Ajukwu who was appointed chairman of the AIM listed Lekoil Limited in January 2021 by Metallon Corporation, as well as George Maxwell have both thrown in the towel.
Following a decline in the price of Lekoil Limited shares in 2020, Metallon which has unsuccessfully conducted mining business in Zimbabwe and South Africa mopped up 15 per cent of the company’s shares, thereby, becoming the majority stakeholder in a veiled bid to assume control of Lekoil Nigeria Limited (an affiliate company), its subsidiaries and assets.
However, the impracticability of Lekoil Limited or its board affirming or taking control of Lekoil Nigeria or its subsidiaries has become more obvious.
According to its shareholders agreement, Lekoil Limited is a minority shareholder in Lekoil Nigeria and thus Lekoil Limited cannot generally compel Lekoil Nigeria to follow a particular course of action.
Based on the relevant Nigerian laws and extant agreements between Lekoil Nigeria and its respective shareholders, Lekoil Nigeria and its subsidiaries remain directly responsible (to the exclusion of any third parties) for their governance.
https://www.thisdaylive.com/index.php/2021/05/02/end-of-an-era-as-lekoil-chairman-michael-ajukwu-bows-out/
End of an Era as Lekoil Chairman Michael Ajukwu Bows Out
May 2, 2021
Lekoil Limited, one of the top oil and gas exploration and production companies in Nigeria and West Africa, has emerged as one of the most talked-about companies in the last 72 hours. Their sudden ‘popularity’ follows the resignation of the company’s Chairman, Michael Ajukwu, from the chairmanship position. The action has tongues wagging because Ajukwu was appointed just three months ago.
It is not often that companies like Lekoil trend on social media. The recent trend has even got people asking questions about the circumstances that brought Michael Ajukwu to the chairmanship position in January of 2021 and sent him packing in April. It might be because of a transgression on Ajukwu’s part or the tides that nearly tore the company in two towards the end of 2020 have returned. The company has not released any information yet, so one can only imagine and conjecture.
Recall that Ajukwu came onboard as Lekoil Chairman after an acrimonious contest of authority between the Lekoil founder, Lekan Akinyanmi, and the company’s biggest shareholder, Metallon. According to reports, the struggle was about whether or not to increase Lekoil executive board members from four to seven (including Metallon’s CEO and two others from the same tangent).
With Metallon’s 15.1 per cent stake in Lekoil (ergo, its position as the top investor), one might have expected it to have its way. Thus, even though the majority of stakeholders agreed to Metallon’s proposal, the result was the resignation of Mark Simmonds from the chairmanship position and the appointment of Michael Ajukwu as his replacement.
Perhaps Simmonds’ removal (and consequently Ajukwu’s installation) is related to the dispute between Lekan Akinyanmi and Metallon. Perhaps not. Similarly, perhaps Ajukwu’s abrupt removal might be related to identical vying for more administrative power at Lekoil. Again, perhaps not.
What is certain at this point is that Michael Ajukwu has stepped back from his Chairmanship of Lekoil. What is suspicious, of course, is that he spent only three months there.