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Fair comments and thanks for the update. One point I raised a couple of times that I don't recall a response on was the recapitalisation proposal. If plan A was rejected by shareholders then there was an alternative proposal which was no dilution and a further 300m of debt finance - I do not recall ANY comment on this by anyone ??
But Yellowcraig asks a genuine question and deserves a genuine answer which I tried to do.
LOL singy, in your 4 line post you succinctly expressed my 500 word statement. I speak too much lol.
Hi TorqueWrench, "kenj, personsally i have obtained much insight from your posts. but on this occasion, sir, in my opinion your post is not a reflection of the reality of the situation." I disagree, I think that my post was pretty much spot on. Whether you like it or not, ASOG have achieved nothing. This is not so much a criticism of ASOG but rather the *******s you are dealing with, and that includes AL. ASOG have tried hard, but have unfortunately failed; you have not even been offered a morsel by AL. Laughably, he will now not even speak to you, yet still you support him. If AL won't talk to you, he should be treated as hostile and opposed.The time for politeness and niceties is past. Afren is intent on deliberately destroying shareholder value, and ASOG are in danger of emulating Neville Chamberlin waving his piece of paper signed by Adolh Hitler guaranteeing "peace in our time".
Hi yellowcraig, No we have not disbanded. We will be thin on the ground over the nexy few days. Two of us are away with our families, but we will be monitoring the situation and we can be contacted if something happens. ASOG is a reactive group. In other words we respond to what happens with the BHs and the BOD. We have always done that. It is how we got to the point of building a large block of like minded shareholders and mobilising the NO vote. Making sure everyone as far as possible knew how to vote and that the BHs and BOD knew and believed the power of our position. That is why we are not now in plan a or plan b. Because we (ASOG members) reacted and opposed. We did what we are here to do. As a group we are not in a position put forward new proposals as we do not have access to funds to put down. (We do put forward ideas but that requires other peoples money). We assess proposals laid down by other parties, convey our findings to our membership and when we know their views we express those forcefully to the other parties involved as to whether our members support or reject that proposal. We are therfore a group that uses its power to exert pressure to influence change. We speak as one person based on our members views. The position we are now in is that the company is in information lockdown. Reading between the lines my guess is that means there are discussions being conducted behind closed door. We are still convinced the BHs want to salvage their debt, and the BOD want the company to survive as a going concern. With that comes our own salvation, or the vote is still NO. Please remember the BHs and the BOD are not synonimous. The EGM is postponed indefinitely, Plan a and Plan b appear to have dissolved and may morph into something else. There may be other parties circling. There may be plans by the BOD to sell assets to pay down debt. We do not know. So from that point of view there is little happening that we are aware of, and because we are reactive we cannot do anything until we hear what is the next proposal of the BHs or any other party. However, we are trying to set up further meetings with the company, in spite of the radio silence. Until there is a new proposal on the table, if ever there is one, or varied terms, we cannot assess them and report to members. So our plan had not changed. It remainsvto :- Assess any live proposal. Put our findongs and opinion to members. Establish their view. Put that view to the other parties. If we are in opposition, formulate a plan as to how we quash that proposal. So at the moment its wait and see. Thats not negative. It means we are ready, with all our resources, to catch the ball when its kicked. If you have any other suggestions of what else we should do please let us know. It will be seriously taken on board. Best wishes Tony
Yellowcraig, What would you like asog to do in the short to midterm before afren make the next move? Asog have said they are here for the shareholders, so what would everyone like asog to do? I don't think there is much that can be done until afren informs us about what is happening.
TW, Pete, YND - gents has the group been disbanded ? If not it is possible to get an update from you on what actions, if any, you are planning to take in the short to medium term. Thanks
This is never going to come good for long term holders....sheesh.
Why are you sending not safe for work pictures through your distribution list?
would any previous NO voter turn YES without a major concession from the BH. ? Whats actually changed ? they still want 90% of your shares but are now again threatening likelyhood of administration if we don't comply, all done with the threat of not pumping another $30m into the directors pockets to save another day. Anyone could have acheived 3p a couple of months ago it was on the table ages, but now folk are saying whats offered may now actually be our best option. By voting yes they have what they desire and you have 10% of your holdings. Is it not worth forfeiting the pittance you would receive for the pleasure of knowing you stayed true taking them down with you. I just don't buy anyone who now says perhaps this is the best we can hope for, people of principle just dont take it up the arse. If we go under the fault lies with the BOD. past and present, Linn is serving them not you, Is a press of the flesh enough to hoodwink you ? what has he actually brokered for us ? nothing is the answer, he's already told us present shareholders are toast ffs.
ASOG I fully supported your efforts at the start Now I am convinced that Alan Linn has played you like a Piano I only have one question What is tour plan B? you do need one
"Three achievements of ASOG? That has already been published and is in the public domain. I am not going to go back and find that report for you. You have to do your own work. If you have been paying attention over the months you will have seen that report. It was posted several times and listed about 9 achievements from memory." Ynotdeal, just why are you so afraid of publishing these achievements again? From what I can discern, ASOG have achieved nothing. There was not one concession made to the original proposal following your meetings, and the company then, even prevented SH's buying Open Offer shares that BH's did not want to take up. And since pulling the EGM, rather than be defeated, your mate AL won't even speak to you. Blaming ALAG for that is risible, and the one claim to fame that you have listed is even more laughable. "We were able to persuade the company not to pursue a tough legal line with those belligerent individuals and we explained that many shareholders were under deep emotional distress with large personal losses and that accounted for the unreasonable behavoiur online." The last thing Afren want is anyone shining a light on what has happened here, especially in a court of law. Words such as theft and crooks have been bandied about on these boards well before ASOG was even formed. I would suggest that Afren have neither the nerve, nor deep enough pockets to issue libel proceedings. So your role as self appointed censors and thought police is neither necessary nor required.
If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams currently looking into this
Shareholders are not stupid If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams currently looking into this
Afren Legal Action remain as active as we have been. If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams currently looking into this
How long have Afren had to have a frank and Open discussion with shareholders? We have been waiting for what seems like an eternity. All we have been handed are threats of 'take the hideous deal or get nothing'. There has never been any dialogue with shareholders and big AL often goes to the press first, or rumours and rns's have been leaked which is where we have found out information that should have been disclosed to us by the board in professional manner. Shareholders seemingly are an obstacle for the BOD to get past in order to achieve their goal and they have never been shown or treated with any respect whatsoever. They have pumped countless millions of pounds into this company which is offering to destroy them or almost destroy them. Basically, we have your money now f off or lump it. Some choice. No wonder ALAG wanted to sue the ba$$ads, as you put it.
Tony, So now a lack of communication from the company is ALAG's fault ? Sorry, but that's nonsense. If you have maintained the confidentiality requested of you by AL then he has no reason to blank ASOG. And likewise, there has only been 1 poster (or writer) ranting nonsense that could be considered close to the bone, and you know very well who that is. So why not go after him instead of threatening other posters with legal action for re-posting ? I have just seen an apology from bountyhunter, and also received an unconditional apology by e-mail from ALAG for distributing WW's post. So your continued threats to bountyhunter reek of bullying to me. It's a huge shame because you've done some great work (videos etc), but quite frankly waving writs around in response to BB nonsense is over-sensitive & plain silly IMO - especially given the apologies. A gentleman would accept the apology and go after the real culprit, not the easier target. How about it ? --- You will see that since ALAGs more aggressive pursuit of the BOD and others, and Wild wolf's ranting reports, there has been an information lockdown by the company. They are talking to no one now. That is how the ALAG team are destroying efforts to oftain a better deal.
Hi andy, Thank you for our comments. You are wrong about ALAG. They started off As a "get the ba$$ards", put them all in jail group. They were only inderested in pursuing past wrong doings.They attacked everyone remotely associated with Afren, even those who were not there at the time and then us. There accusations amounted to for example "the shares have been shorted therfore the bondholders must be guilty of insider dealing... sue them" What a basis for a case!! Now that the ALAG legal drive is falling away because they have not managed to get funding, they have recently changet their message to "we want a fairer dea". Great, thank you ALAG. Thats what we spent 4 months fighting. If it was not for ASOS there will have been no resistence, the yes vote would have been won at the AGM and the BHs would now have 90% of your money. The game plan is changed unrecognisably. That is down to ASOG members standing their ground. We dont know the outcome yet. It may still be zero value. But thats what we fought for. Confidentiallity seems to be an issue. And we understand that. But more is made of it than is actually there. All our meetings were conducted under an agreement for confidentiallity. Some issues we discussed off the record. As you know, off the record comments tend to be more "fuzzy", not cast in stone and more like opinion. We were asked not to disclose such comments. The reason being that anything published is there for ever and open to misinterpretation and quoting out of context, leaving no room for views to change or new plans. Im sure you understand. If we did not agree to that stance, Alan would simply not have made any off the record comments. Although not substantive in any way, those comments enabled us to get a better understanding of the broader picture. In fact I cannot think of any issues that were that whould have been significant to shareholders. People seem to think we are in possession of great state secrets. That is simply not the case. The argument for tact an diplomacy is that it opens the door for more frank and open discussion. You will see that since ALAGs more aggressive pursuit of the BOD and others, and Wild wolf's ranting reports, there has been an information lockdown by the company. They are talking to no one now. That is how the ALAG team are destroying efforts to oftain a better deal. We are currently trying to re-open channels of communication with the company but theu are not responding to us at the moment. Tank you ALAG. However, we are persistent and we willl get there. I have it on record that Ldlv is now saying "we are transparent with our members, except when we are advised not to be". Sounds suspiciously like confidentiallity to me! I hope this goes some way toward clarifying issues.
Ynot, To say that I don't trust you or any of ASOG is a complete understatement. I don't believe that you have any interest in shareholders wellbeing and I personally believe that your main goal was to have Alan Linn appointed as CEO and to originally see the yes vote through, but the tide turned against you so damage limitation was the order of the day...stay close to your friends and even closer to your enemies? You'll get another chance to sway the vote, in time. A handy little suspension might hopefully blunt the pesky No voters will.. Of course these are just my opinions and views, but they have been formulated over time and it is time that often allows us to see more clearly. Your post to bounty below is a complete joke. So your first meeting was a scoping meeting. ...that's it? did you have a staring competition across the table followed by cookies and tea?....then you had to have another meeting to say 'they want a better deal'! don't make me laugh...and you had to go back again for what, a brown paper bag with some really nice sandwiches in? You must have felt really important...all of you In my opinion there is so much that was said that you cant say here that you are limited to coming up with that load of ol' baloney. Extremely limited baloney at that. Of course this is all just my own opinion and not to be taken as advice or intended to ssway the opinions of peole as I wouldn't want you, big Pete B or Ainsley Chariot to start threatening legal action now would I!
I am little lost in your long message....I would assume that problem you guys might have would be sharing WW message....the least I can do is offer my unconditional apology to you guys, and accept the message could have been inappropriate....still if you guys feel legal action is most appropriate option for you guys I can give all my details..
Our firest meeting with Alan Linn was a scoping meeting to talk face to face for the first time. Our second meeting was to express our members viewpoint and press Alan on his the plans for after the vote. A few days later we published an A4 document reporting that meeting. Anything that was not reported was discussed off the record an in any event was not of real significant. Alan did not want off the record comments published online, or he would not have made them. Again you will have to find that report yourself. After our meeting with Blackstones and Morgan Stanley, we issued a short statement that we were awaiting the publication of the prospectus. We did not discus any issues that were not around the prospectus, or plan a and plan b and we did not comprehensively discuss the content of the prospectus as that would have breached the BH confidentialty undertakings. All of that is in the public domain. We have never said we object to legal action where there are proven issues. Please show me that statement. We said that we believed that now was not the time and place for it and there would be a place for that in the future. We do object to the belligerent attitude of the ALAG and the continuous unsubstantiated accusation of individuals. We respect their objectives but are not associated with them. As far as taking legal action against individuals who have grossly overstepped the mark, you should expect that consequence. Have a good day and do your homework in future. Tony
Good morning bounty. you have asked a number of questions. Firstly regarding TW. Please let me know where you have obtained the information that TW is "official spokesperson for ASOG". I dont recall that statement. We do see lambasting and criticism of our work on here and and we take that on board. However the content of your posting yesterday was offensive and abusive in the extreme and deserves civil action to redress and police investigation. There are now laws that protect people from online abuse such as yours. And every word published is permanently recorded in archive. We were highlighted individually and as such we may all take action againt you and others, individually or jointly with PeteB. That is our choice. We have undertaken with our members that we will not disclose any information they send us to any other party. ALAG do post the content of messages but their source is unattributed and therefore valueless. They may be penned by ALAG team themselves. Only wild wolfs are attributed, but of course we know he refuses to identify himself even confidentially to ALAG of ASOG. So no credibility there then. He is now destroying the ALAG teams work by the issuing his fanatical unsubsubstantiated accusations of anything that moves while offering no evidence himself. All pure fantasy and the wider shareholders are seing him for what he is, which actuslly increases our support. So thank you WW. No we dont post our members confidential comments. Unlike ALAG we have a serious regard for trust, and confidentiality is a part of that. Three achievements of ASOG? That has already been published and is in the public domain. I am not going to go back and find that report for you. You have to do your own work. If you have been paying attention over the months you will have seen that report. It was posted several times and listed about 9 achievements from memory. You misrepresent the truth about reporting our meetings. We never said that we would categorically report the content. Show me where we said that. In fact we stated that out meetings were confidential but we would report back were we were able.
It's a shame that things have turned out as they have currently, between ALAG and ASOG. I suppose all that ALAG have ever wanted was a fair deal for shareholders and for ASOG to disclose information to all shareholders that would at least give them an understanding of what was discussed in their name. ASOG have freely advertised their identities which gives one the impression that they are upstanding with nothing to hide...now when are they going to give us the general low down on said conversations with Alan Linn? Is that really too much to ask? If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams currently looking into this
Ynot, if that is true then in my opinion they are a bunch of over-sensitive fannies. As for the former BOD, what do they expect having brought the company to its knees through incompetence, and lost SHs nearly all of their investments ? Praise ? Having read the BB these last few months I've personally seen posters venting yes, but no specific allegations - which is what the lawyers would need to see to go after anyone. All a storm in a teacup imo, and hopefully AL is a bit more grown up. ---- So yes, I think the directors of the campany have wasted a lot of time, and shareholders money, setting up defenses against these allegations. And that has been at the cost of spending time seeking alternative solutions.