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For mainly those who have like me, been here for centuries, you may or may not have seen the charges against Peter Landau. Not the most recent news, but here are the reasons why this Crook & Co, have landed themselves in court for stealing all the Dough. Most of you should know about it, but I can't wait to see him 'Jugged' for around 7 years as and when?
Cheers.
Photo
Internationally renowned investment guru,
Keith Fitt has warned about the perils of investing with a big heed (ostriches syndrome ) this often effects pensioners under 5'3".
Seems you missed Thursday and Friday too.
Best time to sell this stock is ,
Monday to Wednesday .
AO and NG thank you for your comments.
With Sibo holding approximately 17.3% of the votes and Thesolia holding approximately 16.7% of the votes I was hoping for a more balanced/acceptable outcome. I'm assuming the majority of shareholders would find the anticipated prospect of a delisting from AIM unattractive and therefore vote against resolutions 2-7, or am I like the proverbial drowning man just clutching at straws?
Bertie.
At last someone with sense is posting.
I could not have put this into better words.
Not sure there is any point Bertie. LandOcean/Sibo own an enormous stake in STA and will get whatever result they want from the EGM. At the moment they want to replace the board with pliant patsies who will gratefully delay/renegotiate/write-off the $1.2m pending payment due from LandOcean. Who knows what will happen with the tax liabilities during this "renegotiation"? One thing for sure though, the puppet masters won't hesitate to dump STA in the muck if it's necessary to protect the LandOcean mothership...
Is nobody interested in the EGM?
And you form this opinion with you first post? Did you read the July RNS I posted before you made a new account?
Thu, 2nd Jul 2020 10:44
RNS Number : 8593R
Star Phoenix Group Ltd
02 July 2020
OUTSTANDING PAYMENT UPDATE
Star Phoenix (AIM: STA), an international company with an oilfield services business in Trinidad and an oil and gas interest in Indonesia, advises that it has received a further payment of US$283,000 from LandOcean Energy Services Co., Ltd. ("LandOcean") pursuant to the sale of Range Resources Trinidad Limited. The total outstanding amount that remains due to the Company from LandOcean is approximately US$1,251,611. The Company continues its discussions with LandOcean to expedite the payment of the outstanding amount and will provide an update on any further developments.
This announcement has been approved by Chairman Kerry Gu on behalf of the Company.
How about answering the questions i set as you promised over 2 months ago Alfresco(LOO) instead of using smoke and mirrors to mu last comment?
Simple yes or mo please, have LO paid every penny to STA for RRL?
If the answer is no then the sale has not completed, simple.
2nd April RNS announcement: 'Star Phoenix (AIM: STA), an international company with oilfield services business in Trinidad and oil and gas interest in Indonesia, is pleased to announce that the sale of Range Resources Trinidad Limited ("RRTL") to LandOcean Energy Services Co., Ltd. ("LandOcean") has completed (the "Transaction"). '
Email from STA May 2020: 'Any potential tax liability remains with RRTL. As noted in the announcement on 2 April, the sale of RRTL completed on 31 March 2020. Therefore, the potential tax liability of RRTL is no longer associated with Star Phoenix Group. '
One other thing as the sale of RRL has not concluded as monies are still outstanding I'd guess at present any tax liability is still with STA. Obviously I don't know what is in the contract agreed between LO and STA though but I'd be surprised if LO held the liability for unpaid tax at this stage.
It will be interesting to see what happens with the court case for unpaid tax too.
Some on here claim LO took that on with the sale, I'm not so sure unless it was written into the sale contract, if it was whoever's signed on behalf of LO hopefully told their shareholders, if not then imho STA still own any potential debt.
Par for the course with this mob, unfortunately. Just wait and see how quickly LandOcean's outstanding payment gets "disappeared" or restructured. ;) That's what this board game is all about.
So yet another mouth to feed, get rid of 3 Directors and replace with 4. Unbelievable!
The problem is that the current directors are pursuing Landocean for the outstanding c$1.5m that Landocean owes STA (well RRL orignally...). Unfortunately, Landocean is not doing well (go see its declining market cap) and doesn't want to pay. So what's next? Well Landocean's captive fund (Sibo), which still owns a massive chunk of STA stock, will call a meeting and fire the current board, then replace them with docile puppets who will then "overlook" or ignore the outstanding amount that Landocean cannot pay... Watch and see.