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allianze, thanks for sharing your Emails. I think I'm through with sharing information now. I'm sick of certain individuals disparaging and casting their doubts on my conversations.
Cheers Richi, I'd be super angry if I found out my BMR shares were removed from my ISA. As always I'm optimistic that we can relist (I got it right this time) on another exchange, perhaps NEX, and actually make a return on my investment.
--------------- Reply to Borrelli e-mail response ------------------
To Alex Borrelli Today at 18:31
Dear Mr Borrelli,
Firstly, thanks for your prompt reply. I hope you appreciate that these are legitimate questions and need answering.
If I understand your reply correctly, you are saying that the NOMAD has been in place for a while. Is this correct ? Surely, it should have been confirmed to shareholders. Why was the market not officially notified in an RNS ?
You say that AIM, with no reason, declined to lift the suspension within the last 48hours. Also, that I should direct my questions to AIM.
But Mr Borrelli you are the Executive Chairman and CEO of BMR, not me! You say that you believe it had to do with the uncertainty over the licence. Firstly, the whole saga over the licence issue is something that will have to be considered carefully by BMR shareholders. BUT, is it not possible that the real issue was that this was left to the last minute to resolve, and AIM regulators finally got fed up. If this had been resolved much earlier, when you first realised that WHIreland was resigning, wouldn't our de-listing been avoided.
Further, regarding the Kabwe Mining Licence. This was restored in the RNS dated 06 April 2018 - Restoration of Kabwe Mining Right (RNS Number : 1713K). If the issue was about the uncertainty over the licence was this not caused by JLP (with BMR's agreement) continually pushing back the date for the completion of their development plans ? If I recall correctly JLP were to have finished their plans end of May, then June, then July, then August and now they claim end of the 3rd quarter!
Also, please can you clear up the role played by Mr Colin Bird, who is a non-executive at BMR and also JLP Chairman, during this period ?
I look forward to read your considered reply to the points raised, as these are relevant questions under the circumstances. Please can you e-mail me back to confirm that you have received and read my correspondence.
Yours sincerely
I too have e-mailed Borrelli today. I received a reply which was unsatisfactory so I have e-mailed him again for clarification. I am waiting for a reply. I will publish the contents on my e-mails. BringMyReward, I don't see why you are holding back posting at least your e-mail to Borrelli, that not breaking confidentiality. In any case, it is relavent to all BMR shareholders !
I think these questions, and earlier ones, should form the basis of more detailed questions that Borrelli will have to answer fully IF we get a shareholders group.
-------------- 1st E-mail --------------------
To Alex Borrelli Today at 17:17
Dear Mr Borrelli,
In the latest RNS - Kabwe Project and Delisting (RNS Number : 8290W - 03 August 2018) you confirm that BMR has now been de-listed from AIM. You state that the directors are 'particularly disappointed having made significant advances in recent months with Jubilee Metals Group..'
Can you explain what this had to do with sorting out the internal BMR issues of getting a NOMAD signed up in time and coming out of suspension before breaking AIM rules ?
In my e-mail to you dated 20 Jul at 9:53 AM - please see my earlier correspondence above - it was clearly pointed out that these two issues were critical and needed to be sorted out. Both of these issues were in your control, and as you admitted you had been aware of them for a fair amount of time. Yet you failed to resolve them in time. You can please also re-read your response to my e-mail, and see how hollow your response now appears.
I also pointed out that having been for-warned about these issues, if BMR gets de-listed from AIM then it can only be concluded that it had been either negligence on your part in performing your duties, or that it had been done with prior intent. Can you now tell me, and the BMR shareholders, which of these two conclusions is correct ?
Can you also explain to me, and BMR shareholders, what role the non-executive Colin Bird played during this period of ineffective management ?
I re-iterate that as both Executive Chairman and CEO of the company the ultimate responsibility for the current mess that BMR finds itself in rests with you. Can you therefore inform shareholders when they can expect your resignation ?
I look forward to read your considered reply to the points raised. Please can you e-mail me back to confirm that you have received and read my correspondence.
If I have not heard from you by the weekend I will send you a registered letter to the BMR offices at 35 Piccadilly, London W1J 0DW. I will also send a copy to the company solicitors Hill Dickinson LLP asking them to pass you a copy.
Yours sincerely
Thanks for that update Richi1414. Had wondered about IG but wasn't going to bother until they called.
Who is your ISA with? I'm with HSBC.
Thanks for digging about Klue - probably means there is even less regulation then - oh goody !!
Checked with my isa provider and they said the stock will just remain in the isa if delisted. The guy had to ask his supervisor.
IG said the spread bet remains at the delist price until the company informs them if they will buyout public shareholders which could take considerable time. IG did not seem concerned.
Now we are a private company the three unknowns can offer to buy the existing shareholders out. Normally this would be a premium (small ) on the last quoted stock price say 2p. They then own a company that in two years will pay a dividend on 20 to 40% of profits over the life of the project. Not a bad income stream to tie your money up.
2 of Borrelli's NEX companies... note Black Sea Property Plc. was delisted from AIM and then relisted on NEX.
The SP performances in that time are woeful to say the least.
Black Sea Property Plc
https://www.nexexchange.com/member?securityid=2074430
BWA Group
https://www.nexexchange.com/member?securityid=103345
I wrote this off several mths ago, my personal view is, AB is totally inept, when you rarely get any good RNS or RNS at all, you know things are been run poorly. ******
re " I wonder what the 3 investors think of this situation, feel free to get in touch with us and join the group"
That would depend upon who the 3 investors are. For example if their names were Borelli, Bird and Coetzer, I can't imagine they would be too bothered. That's assuming of course that they even existed in the first place. Seems to me Borelli has been planning our demise for some time.
That there is unity in trying to get a concerted effort to attempt to get a solution which give shareholders some benefit.
Gla
Going to draft an Email to BMR Watch and register with the site, count me in!
Just to let you all know I had a response from Alex so he's not done a runner lol. I can't discuss the contents as JLP is a listed company and the conversations are confidential (I think I've been rumbled lol).
I guess if you want information now it's going to have to come directly from AB via shareholder contact or news release through the BMR website. Alternatively here's my Email below and for a small fee each month... I'm just kidding! I was going to say register with BMR Watch so we can get the answers we all deserve and make a change!
Gotta dash, I'll be back on later. Take care all.
Yea I saw that, but just stating the obvious people this morning saying we can’t issue an RNS without a nomad we’re wrong!
Been a member of the action group since the start. I'm a very LTH here and can't believe what has been done to the company.
"BMR has been De-listed from AIM (03/08/18)
So, Borrelli proves himself to be at best totally incompetent, at worst a conniving, calculating low life. What are we to do? Well, I know what we should have done, had all you shareholders listened 4 years ago.........
But we are where we are. Can anything be salvaged? I don't know.
The only thing I do know is that to have any influence or perhaps even power, we shareholders have to come together so we have a unified voice. That is what BMR Watch is for - JOIN TODAY!
I have seen a little surge in interest in the site this morning (I will be getting back to joiners today. The easy way to get access to BMR Watch is to sign up to Shutterfly, then let me know the email address you joined Shutterfly with so I can send an invite to you).
I hope the LSE poster "allianze" does not mind (let me know if you do) but Borrelli's response to his email is worth publishing - what does this tell you of Borrelli?:"
pennytrader, if you're worried about losing your investment,get involved with the shareholder action group.
Andy, it says this at the bottom...
"Shareholders will be kept informed of further developments through the Company's website www.bmrplc.com."
to be worried when BMR bid for MTR. Glad I am not in here!
Just called the office asking for AB. Neither he nor anyone else was about (surprise). The lady gave me his mobile which he didn't answer. I couldn't think of a civil message to leave, so didn't.
I don't see that the RNS gives us any hope, just a holding statement until we lose all.
Now we know issuing an rns is not a problem without a NOMAD.
One of the options could be ACI. Or maybe one of Alex's rich Uncles.
'number of options' it's always what you're not being told that tends to happen where Borrelli and BMR are concerned.
Allianze, if PI's sold shares wouldn't other PI's just buy them? The only way to reduce private shareholders would be for Directors or institutions to buy them up.