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Very reasoned post shampol
jadee - It does seem odd that Billy Allan survived the vote but maybe some PI's who generally supported COC's resolutions, voted to retain him, maybe to provide continuity and balance but without realising the possible implications of doing-so. It remains to be seen how the new arrangement plays out but I don't think its a given that the two BLVN survivors will necessarily unite against COC's nominees - after all, Clarkson at least should have no axe to grind with COC. If on the other hand it does work out that way, then presumably COC can call another EGM to resolve the problem; I'm sure that the vast majority of shares sold off in the last couple of days have been those of non-COC voters and its likely that COC supporters who thought it a good idea to retain Billy Allan might now think otherwise.
BOARDS & COMMITTEES Corporate Boards ▾ Non-Executive Director 2017 - Current Bowleven Plc Bowleven Plc is an oil and gas company. It operates in Africa which focuses on exploration and appraisal activities in Cameroon and Kenya. The company was founded by Ndieb-Nso George Tabetando, Terence Anthony Heneaghan, and Donald Bruce Vandergrift on November 13, 2001 and is headquartered in Edinburgh, the United Kingdom.
"""Crown Ocean Capital P1 Ltd ("Crown Ocean"), a private investment company, which is the beneficial owner of 22% of the outstanding issued ordinary share capital of Bowleven""" Do they have to state who the shares belong to...??
It's been clear as glass for a long time that COC were most likely acting for a third party - they know nothing about the oil biz, or Africa, yet risk Millions of apparently their own money to dislodge the BOD. I have always felt NA or Lukoil (probably NA), used them as a way of gaining control of Bowleven in order to buy the last share probably on the cheap before FID and appraisal wells. If this is the case we likely to see something north of 50p so not a disaster even for LTH's and very good for COC and sth's, but I bought into the share to unlock the Etinde potential as I feel it would of made this share worth several pounds. Whatever.. right now give me 50p and I'd be delighted to f..k off...
So COC. Private company. Monaco Is it friendly to Friends of the Earth, Friends of Dangote, Lukoil, Daesh, Mafia, the good Syrian doctor, the tooth fairy ,money laundry? You would think that the ordinary Joe would want to know more than grass cutting, lawyer ( dont trust them) . Monaco, and private company. Often good to know a little about who you jumped into bed with. Honour, integrity, competencies. all good things to know. It would be polite for COC to tell the public. Mel
Ted1 Institutional investors voted fro old guard, they know a thing or 2. COC, remerkably, asked shareholders to support them but havent shown a smidgeon of O&G expertise. or their actual strategy. Usefully they can bring their great ideas - ut they have not won board control and do not have the chequebook. Mel
COC stated this was not a company takeover. Are we to believe they are liars? Mel
Quite likely when you think about it, these guys aren't stupid and they've had time to prepare their strategy.
Things are uncertain now but I understand that COC may have a buyer lined up for the Etinde stake
MALCY
Where are the quotes from 1msn?
"Victoria Oil & Gas said that it plans to go ahead with the Bomono deal as only it has the option to terminate the agreement made with the previous Bowleven management, there is no reason to believe that this will not be the case and I remain very bullish on VOG." "Bowleven announced that COC had won the day, it was a mighty close run thing which involved a final dive into the market to purchase a key stake. Things are uncertain now but I understand that COC may have a buyer lined up for the Etinde stake and will go ahead with the Bomono deal to which the firm is committed."
It's in his best interest for kh to step down Kh can advise during his notice period He has 3m of shares so still will want value realised We should get the chairman time to adjust to the new strategy
I doubt very much the Chairman has a veto over a majority shareholder vote. Give them time. COC clearly have a plan and good lawyers.
sounds a right mucks mess, again what is the logic in voting hart off and allen in ?
Jadee - With Allens casting vote as Chairman, the new BOD of Bowleven plc cannot remove Hart / Crawford from the BOD of subsidiary Bowleven Resources Ltd. Perhaps...
Ive heard from a couple of people who know these things that the reason Hart is still at Blvn is because Billy allan survived, cant see the sense in people that wanted change voting for Allen to stay and Hart to go, i think we are in a right pickle now!
seems with BLVN owns Euro oil etc as stated , by that brat , and 12 months notice etc . That KH and the BOD cant do, even at the last throw the honourable thing and resign . Show how much they cared about investors, ZERO in fact . Just about THEM and all the cash they can grab from BLVN. As things come light , shows what KH was as CEO . Good luck to any company that employs him they will need it. Cant understand why the II,s allowed this to carry on for so long and still backed KH and BOD, all i can say is ??????? Don't think will ever know what went on behind BLVN closed doors . Never again will i ,as a PI invest in an AIM company again.
I feel a big squeeze is coming.... all sellers have now sold and liquidity will dry... its just when they decide to move it up..
Bowleven plc directors updated at Companies House, with Allen, Ashworth, Clarkson, but, strangely,not Chahin. Hart and Crawford still directors of Bowleven Resources, which owns Euroil (and hence Etinde) in Cameroon. (Bowleven plc owns Bowleven Resources Ltd, which owns Euroil, which owns Etinde).
All lot of trades not hitting the Market, bought 200k more today and not shown... Games being played
Funny thing about Barclay ratings is that they tend to be bo* * *x. I remember when they had an overweight buy rating on BOW and a target of 40p and the share promptly dropped below 30p.