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No worries
Mah that was for partridge
Mahatmajacket, so why is he still being paid as a consultant?
Not everything is a conspiracy
No coup has occurred today. There has been a game of musical chairs. The same team are in place with the intention of getting the "agreement " over the line. Mr Parsons is hanging about and will leave at roughly the same time as he was always going to leave. He and Marco will try to get the same outcome as they have been trying to get for the last few months. The switch around is merely a releasing of some of the pressure of the last week. It is in the best interests of the scheme to form the JV. Like it or not.
I wonder if the reason for the rift was that Marco and OGIF where planning on voting against the deal, seems far fetched.....?
I am happy to give the new management a fair crack of the whip.
It appears there has been a difference of opinion that has caused a rift between the cornerstone investors and the C suite team.
The last team in charge of Sound had approx 20 million shares, the new team has over 300 million shares. They will want those shares to be worth as much as possible as soon as possible. They will not be looking for another year wages or an opportunity to exercise options. They are aligned with the PI. If they run the SP into the ground they are ruining their own investment.
Mahat....if TE-8/9 or 10 had a come off he would have been a hero.
Hi Drule
then they would be breaking the law
Hi ericnat17, what if Marco and OGIF are behind this anonymous entity that we are in discussions with?
Hi Drule
As far as I am aware they would need a majority of shareholders to vote for any such resolution. They would also have to be very clear that this was going to be a management buy out.
For them to get to that majority percentage then the SP would shoot up. or would involve turkeys voting for Christmas.
If OGIF .
As far as a takeover by OGIF on its own is concerned then this rule is important.
"When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced (30% of the voting rights of a company is treated by the Code as the level at which effective control is obtained)."
Of course - thank you shareholders for the £20 million sesmic results ...15 companies and they pick a Ltd ...of course they are selling it to themselves!
Wake up !
Of course - thank you shareholders for the £20 million sesmic results ...15 companies and they pick a Ltd ...of course they are selling it to themselves!
Wake up !
Ericnat17, do you not think that Marco and OGIF could take sell the asset cheaply to themselves via a private company with us shareholders left with nothing.
My Take is that this has been a institutional investor coup. JP, JJ, SD and BM have been less than dynamic over the past 6 months. Morocco wants this gas out of the ground and appear now to be in a hurry.
Marco and OGIF have over a third of the company between them, they are therefore very aligned with the PI. Both Marco and OGIF have very deep pockets. They are bound by the same corporate regulations that JP and SD where.
Lets be frank the SP went down to just over 3p today and that demonstrates what the market thought of the agreement and JP stewardship.
If the Nomad did veto direct communication, how come we are having a FSC. I will be asking my questions.
If the share price goes down to 2p this affects Marco and OGIFS wealth far does than it does mine. And no wheeling and dealing is going to change that hard fact.