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The Sheikh must have had a vote. So he must have voted against? Unless he abstained for whatever reason.
Yes.... This is what will happen...... The Sheikh will not want his 29% diluted to oblivion.
Great news........ Onwards and upwards now >>>>>>
We’ve started on the exciting journey ahead and hopefully no doubt be attracting some large ii’s now. Confirmation of Sheikhs appointment awaits...
MM’s simply being opportunist - that was some pull down - barstewards
Interesting post from pwhite on another board..
Resolutions 2, 3 and 4 not passed. This is excellent news for you guys. Looks like the Sheikh has blocked the issuance of any further shares for working capital and management incentives. It does suggest to me the incumbent management are about to be booted out and the company overtaken by the Sheikh and his team.
In the May RNS and when the GM was announced, and in the detail of both Resolutions 2 & 4 it states:
"The authority shall expire on the earlier of the conclusion of the Company's Annual General Meeting in 2019 and 7 June 2020, unless previously cancelled or varied by the Company in general meeting."
So not really news that they were not passed, as I read it, they expired anyway.... am I wrong?
Shareholders obviously didn't like the RNS for the SP to drop over 10%
I thought they wanted to issue shares to buy assets. With their hands tied I think we may have problems.
Presumably they can't even issue stock for warrant conversion?
Potentially. But the board sought permission to issue new shares. Approving 2 but not 4 would have lets them do that if they have a need - just have to offer us first.
isn't that a good thing? therefore no need to fundraise?
-- BB --
is this 100,000,000 pre or post consolidation?!
-- BB --
Lol people are strange. There will be another RNS this pm no doubt imho to announce the board position now the resolutions have been passed.
I can see why people might vote against 3 and 4. But I wonder why 2 didn't pass?
‘A further announcement will be made’
i;m not amused...
Hello ADM Energy....
This is just the start
In respect of the issue of new shares to facilitate the share capital reorganisation, 36 new shares will be admitted immediately prior to the share capital consolidation. Further, 100,000,000 ordinary shares, which have previously been issued and announced but were not admitted due to an administrative oversight, will be admitted. There is no change to the anticipated new issued share capital as announced in the Company's circular of 22 May 2019 as a result of this admission.
um - anybody?
-- BB --
Just in
I've had a corporate action notice come through on iii. Regarding name change and stock consolidation.. So I think it may well have been passed. RNS soon. :)
Already got a message to my broker account regarding consolidation
MM’s think so as they’re raising the bid - imho
The Sheikh has the right to appoint one member to the board, he’s already said he would like to be Non Exec Chairman a month ago. If it’s not him who else would it be. Logic says it will be him or how else can he direct and drive the company forward. I’m sure we will have 2 RNS’s today - one confirming agenda of meeting and appointment plus one now in his capacity as Chairman his vision for the company prior to the consolidation on Monday 10th. They will want news out of his intentions to get press and pr over weekend as foundation stones for Monday.
Anything remotely positive coming from the meeting outwith consolidation and name change and this will fly! Already expecting another step up on the back on name change alone. You get the impression that this is flying under the radar to a certain extent until big news comes
You can hardly have a go at slowlyslowly for using misleading comments when you’re stating that the share price will definitely go up after the consolidation. How do you know? There’s been plenty of times when a share has consolidated and it’s gone down. Don’t act like your Mystic Meg. All our balls are pink and hairy no made of crystal so don’t act like you know when you don’t. People are so quick to jump on “derampers” but when a damper comes along it’s fine because they’re massaging your ego. Trading is not the time to get sentimental. And before you say it Sharebel, yes I’m invested, yes I got in at under 0.15 and yes I’m still holding and I will be for a good while yet so try and play nice and not jump down other posters throat who are more managed and logical in their views than you seem to be.
I’m not a deliberate ramper, merely an optimist hoping to break even sometime this year, but I think and hope that when the shares are quoted in their reduced numbers, they might increase by more than one hundred times the present price. I think that with the imminent RNS following the EGM and hopefully the appointment of HH as director and Chairman the shares will have a fillip on Monday as people digest the news over the weekend. Financial media reporters may consider the fact that HH has taken a personally responsible position in a plc is news in itself and take an interest in MXO or ADM. Here’s hoping....
if sharebel filters everyone who disagrees with him he will have zero friends on this board, i presume he is used to that though.
The Meeting today is nothing more than a formality in terms of the agenda - all will be passed without issues
If the Sheikh is there personally then that shows extra commitment by him (how we could ever prove that unless you are there and could provide photo evidence or it is in RNS (which it won't be as it will only legally mention the Directors / Chair etc)
If hes not there it doesn't really say too much either, he has other business interests all over Africa, likely they are more important than a confirmatory AGM
The rise today is unjustified just for an AGM unless he is personally appointed Non Exec Chairman formally