Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video 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.
thanks for the confessions afrenlegalaction yahoo com
Same here lensgard7. Still haven't quite come to terms how much I put in and lost. Believed that this dog would survive but totally wrong. Seems to be other companies worth investing but not much funds left to recover what I had here.
but yeah invested elsewhere. looking to make my money back on other stocks now.
Yeah but blew most of it on this dog of a company. assets were class but crap management dragged this company down into a dog company.
Are you guys invested in other shares? Wonder what happened to Deos who said he invested 100k in the 12s.
I checked Linkedin. And its on there.
Afren’s (AFR) ex head of IR Simon Hawkins has just posted an amazing confession on LinkedIn which really begs the question who knew what and when about the corrupt management team. And have all the bad guys been named and shamed. If you have lost money prepare to explode with rage. Mr Hawkins writes: Mixing business with pleasure - learning that Afren execs privately owned undisclosed stakes in FHN, one of the Company’s subsidiaries. I should have resigned there and then. Reality check - looking out over the sea at our beach house while conferencing in to Afren’s board room only to hear for the first time how our CEO and others had received unauthorised payments. And in the process betrayed so many people who had believed they were better than that. You’re fired! - witnessing the Chairman of a FTSE 250 company suspend the CEO and COO before their dismissal. Simply. Extraordinary. D-Day? - arriving at the office on too many mornings thinking “Surely Afren is going bust today”. And worried the money won't be there for payroll at the end of the month. What a bogey - being told my boss had been dismissed for gross misconduct and realising just how much golf he had been playing after having full access to his Outlook Calendar. Broadsided - getting a call from our interim CEO to say we need to write off 1bln barrels from our Kurdistan assets, after having been told only a few months earlier by previous management that we were about to sell them for $1.2bn. Like we hadn’t been dealt enough blows. Wake up call - woken up at 2am by my iPhone buzzing only to find some bright spark had posted on Twitter the night before an announcement we were due to make later that day (7am) by figuring out the sequence numbers on our website and pressing refresh until it appeared. Not our finest hour. The real victims - taking the flood of calls from shareholders who had lost their life savings and more. Haunting and heartbreaking. Genuinely. We are watching you - being led from the head office back door by Head of Security following a credible and specific threat to my personal safety. Up in smoke - learning about the Company’s ultimate demise from a Bulletin Board post simply saying “Administration?” Thankfully I have a strong faith, a wonderfully supportive family and a good therapist (my wife!), without which I may have struggled to get through this crazy time. http://www.shareprophets.com/views/14117/10-shocking-moments-at-afren-i-never-want-to-relive-afren-s-ex-ir-man-spills-the-beans
Research this one out. Yes check out CICG its on a fast track to profits on admission to the main market it did not raise any money having been given sufficient to run for 18 month.No company has ever done that before that I know of. CICG used to belong to CICC,Just before admission to main market (not Aim) The free float of approximately 25/28million shares was given as a 14.5% dividend to CICC shareholder for free. `Nothing but a shell worth pence.All the blogs need to be read to understand what is about to happen.. Share price is 2.5 to 3p can be dealt inside spread suggest ISA term hold BUT research first. BOD values share holders. AGM on 10th Sept with press release on Monday which will be on the companies web site.Their will not be a RTO. There cannot be any real dilution for about the next 10 months .If dilution maximum can only be 10.3 mill., as Only 103 million shares in issue with a small free float Most of the Free float seems to be locked into ISA's. Great news coming, small number of shares in issue, small free float, all pointing to a rapid rise when correct news arrives.
Research this one out Yes check out CICG its on a fast track to profits on admission to the main market it did not raise any money having been given sufficient to run for 18 month.No company has ever done that before that I know of. CICG used to belong to CICC,Just before admission to main market (not Aim) The free float of approximately 25/28million shares was given as a 14.5% dividend to CICC shareholder for free. `Nothing but a shell worth pence.All the blogs need to be read to understand what is about to happen.. Share price is 2.5 to 3p can be dealt inside spread suggest ISA term hold BUT research first. BOD values share holders. AGM on 10th Sept with press release on Monday which will be on the companies web site.Their will not be a RTO. There cannot be any real dilution for about the next 10 months .If dilution maximum can only be 10.3 mill., as Only 103 million shares in issue with a small free float Most of the Free float seems to be locked into ISA's. Great news coming, small number of shares in issue, small free float, all pointing to a rapid rise when correct news arrives.
Yes check out CICG its on a fast track to profits on admission to the main market it did not raise any money having been given sufficient to run for 18 month.No company has ever done that before that I know of. CICG used to belong to CICC,Just before admission to main market (not Aim) The free float of approximately 25/28million shares was given as a 14.5% dividend to CICC shareholder for free. `Nothing but a shell worth pence.All the blogs need to be read to understand what is about to happen.. Share price is 2.5 to 3p can be dealt inside spread suggest ISA term hold BUT research first. BOD values share holders.
tungeston corporation serious management team their,should be in ftse 100 never mind aim
Anyone got any tips where to recover some loses?
I remember a while back trading these at 80p odd.....never thought the company would go to zero but then the shareholders always end up with nothing.... happened to me on energis many moons ago... the money is gone I'm afraid...but you'll make it back on another share perhaps....?
Scooby851, I voted yes. But it may have ended up in admin regardless.
might as well just announce the company being delisted from the exchange to put us out of our misery and be done with. so we can have some closure and move on from it.
by the looks of it. I guess Alan Linn didn't have enough time to turn it around. But he had been a consultant on the operational side so I think he had enough time and warning to overcome production issues. shame to have to write it all off. i wonder why they haven't delisted yet. can't see any hope.
Why would administrators reveal that they are not treating afren as a going concern. Again that is a breach. But you are right logically debt to high. How was the board so negligible and borrow so much money. Afren was very cash rich at one point and did not need the 1.2bn. If they played a conservative game afren would still be at £1 a share at least. There are dusters on aim with no assets still going strong. This is the story of a corrupt board in a corrupt country. I have a rule not to invest I'm Russian companies that has now extended to Nigerian ones
speaking for myself scooby it feels liberating and good, how about you ?
The vote outcome if it had gone ahead was no longer the issue.
Hi H&H, Interesting idea to go back and vote for plan A. My own view is that the company would have gone into admin under plan A, plan B or no plan. It ran out of money. No money.... no business. Simple as that. It is widely reported now that the production problems and pricing issues have create a need for funding of a further $250m. Also under plan A there was still a shortage of working capital to the tune of about $200m, as calculated by a number of astute money men. You need to ask yourself, would the BHs have stumped up another $450m to keep the company going under plan A. Thats about one third again of the bond debt! Somehow I think not. More likely they would have taken the company with their 90% control, pre-packed it off somewhere, shed some of the debt into the Plc, dumped the old shareholders and let new Afren rise from the ashes. If its a sell off, only chance is if the assets raise more thsn the total debt. Unlikely in my opinion.
There really is huge pain all round - I am glad that we didn't get to the open offer because we may well have lost that as well. If you read the FY14 accounts you will see that the previous board rolled over to everyones' demands - partners pursuing claims, bond holders for asset write downs, FHN, huge fees for advisors etc etc without corrective action in Q3'14 we were struggling and all the debt, lack of control, poor governance has overwhelmed us. With the benefit of hindsight the rescue plan was too little too late the damage was done when the BOD failed to recognise the situation last September...AH
The bond holders weren't bluffing and now we will get nothing. I spoke to the Administrators and they are not going to treat Afren as a going concern because of the debt levels. I for one would now vote for Plan A if the BHs could be persuaded to offer us the chance to Vote on it again. I am convinced we have taken our struggle as far as we can and it is now time to salvage what we can, if it is not too late. Perhaps ASOG could petition members and take the suggestion to AL?
If it means that those who offered us so very little of our original investments in the refinance robbery....sorry 'deal'.... lose out substantially, then I'm all for losing the tiny morsel of my initially very large investment to cause them pain. By the way, it's 'LOSE' not 'LOOSE'. LOOSE is what Afren have been with their (our) money whereas 'LOSE' is what Shareholders were always going to do in AFREN voting yes or no. It was always matter of principal for most here and hopefully in time, what they haave done to us will come back to haunt them... who think they have got away with it. Life often has a strange way of seeing that offenders get their comeuppance.
For all those that said I would rather loose everything than support the rescue plan How does it feel now reality happened. answers on a post card please
Taken into subsidiaries to be sold to the ones that wanted these assets badly and saw the shareholders as an obstacle hence why we sit in admin waiting for the inevitable...... legalised theft should be brought to justice...