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I'm not sure how anyone can build up Jonathan Tidswell (the guy seemed to keep changing his name every year....I wonder why?). There is the Midas touch and then there is the Tidswell touch. The Angus price rise was due to ramping and not from Tidswell.
Yes he managed to drill the original HH, but then sell it before the price rocketed.
He drilled a well at Brockham and managed to drill from the wrong well alienating the OGA, EA, HSE and local authorities adding 2 years onto a project stagnating the SP.
Being the drilling guru Tidswell didn't think it was prudent to order critical spare parts and added an extra 4 months onto the Lidsey well thus crashing the price.
Jonathan Tidswells character has already been tainted by his share dealings with America 2030 (a third-party equity linked lender) when he loaned his shares as Executive Chairman of Angus Energy during a closed period which had commenced on 30th May 2018.
This resulted in Jonathan Tidswell resigning from the Angus Energy board and the investigation subsequently deemed to “the Company's share dealing code was not complied with and accordingly for clarification not be reinstated to the Board”. You can read the actual RNS with the link at the bottom (Pages 2, 4-5). It speaks volumes.
In fact Tidswell has managed to crash the Angus share price on no less than 3 occasions and this is his supposed forte. What experience does he have except manage to get large loans paid to him via the company and then written off before the company goes PLC. One should also note that he is also supposed to be looking for new assets for Angus Energy, so how can he justify the time spent searching for.....well what is he looking for?
http://www.angusenergy.co.uk/wp-content/uploads/2019/03/Angus-Energy-Board-Changes.pdf
Rastuss - there would be dilution in an RTO as well. Whatever happens next there is going to be dilution. The point is that the value of the asset that is put into the company should increase the share price enough to outweigh the cost of the dilution - not necessarily instantly but over time.
Also, what is the alternative? CHAL remains here with no income and no substantial assets? It would have to raise money anyway just to keep the lights on.
In fact Jonathan Tidswell was forced to resign after not informing the board about his share dealings during a closed period.
5 separate occasions he conversed with America 2030 during the closed period and only got found out when they started selling his shares.
The strange thing is we still haven't found out why he was doing this in the first place, considering some folk call him successful.
He also staged a shareholder revolt (just him) which further crashed the SP. He actually turned Angus into a circus and they even ended up being front page of The Times....for the wrong reasons.
Sad to say his track record is very poor.
http://www.angusenergy.co.uk/wp-content/uploads/2019/03/Angus-Energy-Board-Changes.pdf
What unpleasant allegations?
What has Alan been accused of doing?
Rastuss - seems I have missed some action on the Chal board? I see my comment has taken collateral damage. Was it my analogy of Mr Von Tidswell drilling from the wrong well was the equivalent of siting the London Eye on the wrong side of the Thames?
Rastuss - I agree it does seem very strange when you are quoting the companies accounts / RNS and adding up their liabilities and yet folk will go out of their way to say you're wrong....with no counter evidence (links, page numbers).
I do find it takes up our time and Admins time to filter the wheat from the chaff.