We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
gkb47: sadly, the Earl of Lucan failed to get the potatoes in last month, after the frosts. You’d think an Irish peer would know better. So no cash crop, and no cash, this year. Certainly no gravy. He’ll have to take Mr. Sanderson’s hand and begging bowl and crawl off to the market for a placing together, methinks. So much for cunning plans. More like cunning stunts, what?
Well for all of you watching the paint dry, would it be better for you to go and find a freshly painted wall to stare at
and I bet Mrs Miggins would work hard rather than the BOD which are sat on the gravy train (which left the station 3+ years ago).
Here's the truth about what the votes at the recent UKOG GM ACTUALLY showed:-
Board proposed Resolution 1
In favour? 660.8 million (5.00%)
Against? 32.1 million (0.24%)
Discretionary? 6.5 million (0.05%)
Withheld? 6.4 million (0.05%)
DID NOT VOTE? 12,512.2 MILLION (94.66%)
Resolution 2 shows slightly less support for the board.
The votes at the GM showed just how far removed from reality were the expectations of some of the naysayers.
Things is, with lifestyle AIM oilers, it's all too often a case of, as Daltrey said "here comes the new boss... same as the old boss". ANGS being a classic case in point, with George Lucan currently not covering himself in any more glory than Vonk did - and being eyebrow-raisingly similar in chosen tactics to Sando (think a much-drilled potato field in Lincolnshire instead of Turkey).
What tends to save incumbent BoDs is shareholder apathy. For example at the recent UKOG GM and entirely counter to the BS that the Ocebot tried to spin this morning, only c. 5% of total eligible shareholder votes were cast. The other 95% of votes simply were not cast.
Of course, voting apathy is a two-edged sword, if a disgruntled action group amasses more support than those few (66 milion out of 1,318 million) votes that people could be bothered to cast in favour of the current BoD and its resolutions just a couple of weeks back...
No Cynderliar, you'll be gone before him, your credit rating is far worse than sando's.......your time is running out......you have to keep repeating yourself to keep your dreams alive
I'd think the support would increase if they had candidates with good CV's. Time will tell. I bet Sando would wait for the GM and a vote to oust him before falling on his sword. Even the numpty at ANGS (Vonk) realised that he was done for and did the right thing. Will Sando take early retirement, or will his final parting gift to PI's be a redundancy cheque at their expense?
...or increase!
(purely for balance).
The current backing for Rodders Jones's site is in support of his 3 resolutions.
There is nothing permanent about that support, it can fall away again if his alternative management strategy &/or alternative management team fail to convince.
What Ocebot is doing its level best to try to hide is that an absolute maximum of 5% of all votes that shareholders are entitled to cast were cast at the recent GM in favour of the board and its resolutions. Basic arithmetic... 660m is 4.99% of 13,218m. Plus as has been pointed out this morning, the 660m votes actually cast are now considerably lower in total than the claimed number of eligible votes gained by the action group. No wonder levels of concern seem to be growing within UKOG towers and its attendant PR drone fleet.
So no, despite Ocebot's latest misrepresentation attempts, "93% of shareholders" are categorically not proven in any way to support the current board.
So, Ocebot has quite deliberately misrepresented that number by a factor of over 18... no surprise there, then.
But I suppose at least that level of deliberate distortion fits in with the levels of the company's own historic misrepresentations when burbling the latest piece of what turns out to be massively over-exaggerated nonsense in an effort to scrape up more funding (presumably for the BoD's lifestyles?) from long-sufferingPIs.
I think the point is; the support to oust the board is now very strong. It doesn't matter whether the site looks professional or not. It's a campaign. If they have candidates interested in the roles; then let those candidates define the strategy and let the shareholders determine if that represents a positive change.
As for the current CEO. He has not done a single investor call in 3+ years. Why is that? Why is the CEO so ignorant towards shareholders? Simple answer to a simple question; he doesn't want to be put on the record in answering questions, instead he'd rather stay at home, count his cash and hide bad news in half baked RNS's.
The CEO is a plain old fashioned coward. Its there for all to see. And for a company to have such a lame leader is a massive red flag.
My only trouble, is posters like you that have tunnelled vision.
Sorry to disappoint I wont be 'shooed' away
To date, Rodders Jones's site has given the impression of being amateurish.
You don't seek to overthrow management by claiming to have grown a dislike of them, that is a purely personal matter between you and management.
To overthrow management, you need a coherent alternative management strategy and a credible alternative management team to execute it.
The Rodders Jones site hasn't yet started to get to grips with these matters.
ocelot
Not sure how you can say I am now prepared to accept it. I never said I was against it.
I will repeat what I did say before though.
"those ********** shares could do serious damage" and "Can you call it? I can't."
If the resolutions go through it will be too close to call imo.
Good morning Ocelot.
You make a perfectly reasonable observation;
But; if we look back to the AGM ;
At the AGM the two directors up for re-election ; (Howard & Morzaria) got circa 567 m votes each.
With the rebels holding 863 m plus votes , the directors HOWARD & MORZARIA must be worried that , if put to a vote, they are likely to struggle to retain their seats.
Will people go out of their way to vote FOR H & M?
As for Sanderson......?
Two completely agendas.
One was about future funding and the other about putting in a new BoD.
------------------
On that we are agreed, Ibug, they are 2 completely different agendas.
This is the point I made to you ahead of the GM, I'm glad you are now prepared to accept it.
ocelot
Two completely agendas.
One was about future funding and the other about putting in a new BoD. You can't put in a new BoD if the company is bust. Why would they vote at the GM against. Makes no sense to me.
The 3 "Get Sanderson Out" faction is growing. What is not to say those against % is not growing as well.
I certainly won't be left holding shares if there is a chance of loosing them unlike those greedy PI's that are still locked in.
We can all work out who most of those are can't we.
You're desperately trying to convince people to leave this share ...why don't you go away if it all troubles you so much ?
Ibug,
You made exactly the same point ahead of the GM and were proven to be completely wrong.
Ocebot, your misrepresentations are getting more obviously transparent every day.
Remind me, at the recent GM, how many votes were counted in favour of Sando's resolution. Let me help - 660 million.
And what percentage of overall UKOG share capital did those votes in favour represent? Let me help again - 13, 218 million (currently).
660 million is 4.99% of 13,218 million...
So, it is in fact true to state that UKOG management has the backing of only 4.99% of shareholders votes, and not the deliberately spun nonsense you've spewed forth again.
With 863,159,545 shares the "Get Sanderson Out" faction holds more shares than the maximum voted at the AGM or GM in any resolution.
In Favour 660,846,450
In Favour 655,552,995
Itchy bottom time for some.
Should the rebels arrive at 10%, that's when their work will really begin (need for a new strategy, need for a new management team to execute it).
As the GM showed, management has the backing of about 93% of shareholders' votes.
Sanderson must be a bit concerned especially as the rebels have made further progress as announced this morning;
Shareholder support as of 9am 16th June 2021
118 shareholders supporting the cause
863,159,545 shares, representing 6.53% of UKOG shares
All in good time, after drilling has got underway, imho.