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Antonio founded the company but he is a cbd man, I have no time for Trevor Taylor as I don't know what he has brought to the business. I fully support JS in this and see it has a good move
Swann needs to tell investors what he saw that warranted this immediate change.
Share price will tank until this is cleared.up
Share Price is going up and Swann decides to drop a late RNS midday trying to catch people off and express he wants to replace two directors with immediate effect prior to results being announced.
Why?
What did he see in the results that made him call this urgent EGM to replace two long-term directors?
The results are crap, the money may have ran out dry, a placing might be needed because of the two he wants to replace?
All unknowns at this stage
I've had no confidence in the American directors for ages, the sooner they are gone the better. However we need to be certain that the small shareholders and Callum are safe and will not face some kind of power grab. Mr Swann knows a good thing when me sees it I just hope he is willing to share it.
This is certainly an interesting development. When I last posted it was to detail an email exchange I had with Callum about financing. To summarise, CHILL continues to be cashflow negative and requires further financing to support growth. Recently, Mr. Swann has been the major source of financing form the company and, as well as being the largest shareholder, I think is also the largest provider of debt financing. I further asked Callum about the relationship he has with Mr. Swann and I received the following comment - "Turning to your question about our relationship with Mr. Swann, it is fair to say that he is extremely supportive of the Company and our vision. I am in regular contact with him, but that is equally true of many shareholders. I am an open book and try to make myself as available as possible such that any investor can reach out to me with questions or concerns. To be clear, though, Mr Swann does not exert any control over our strategic direction or our day-to-day operations. He is a supportive investor, but all decision-making remains with myself and the Board.
It looks like that relationship with the Board and the fact that "Mr. Swann does not exert any control over our strategic direction" has changed.
@newgrange quite so. Good on JS calling out apparent inadequacy. If successful will save us a packet and open up new opps and possibilities for the huge potential of the US market.
AINMO and GLA LTChillers
Today's fall = great buying opportunity tomorrow. I'm topping up further.
GLAGLTH
What a wnkr you are Openheimer. You described today's RNS earlier as a 'bloodbath'. You are the one playing with words to suit your own agenda and that of your paymasters. Why don't you do all GLTH's here a favour and fk away off.
Stop playing with words. There is a clear intention to replace subject to votes.
But there is a reason for their replacement and I'll bet you any money it has something to do with lack luster numbers in the results.
Immediately replaced? No one has been replaced. It is a proposal, would require an EGM and then would only pass if voted for by shareholders.
When can a general meeting be requested by the shareholders?
A company’s shareholders (ie members) can make a request to the directors that a general meeting be held. Directors must call a general meeting if they receive such a request from:
shareholders who hold at least 5% of the company’s paid-up share capital that carries voting rights (or, if the company has no paid-up share capital, 5% of the company’s voting rights.
so going off that, Swann & co can ask for a GM....although our own solicitors will know better !!
CS seems to appear happy with Antonio & Trev...but we are not privy to the goings on within the US market or sales....or whether it is just a cash burn over there. Seems UK side of things are not involved in the power squabbles !!
Seems a lot of sold shares got mopped up...hope it continues..
Yeh because the two newbies can change the likely bad results in the next RNS?
Everything will come good but not for least two months or more.
So a punta muppet
Enjoy your losses whilst I make money 😁
Or the market will like the fact that 2 directors have been sacked and the new ones brought in, in which case the share price will go UP! Foxtrot Oscar Openheimer you troll
Graham Duncan from sunday roast
Ahahahahaha
Muppets always sell they dont know how to invest
Https://find-and-update.company-information.service.gov.uk/company/14214030/officers
So if money has not been used wisely then results will be crap or underwhelming which means the stock price will go down further.
Better buy price will be available
Buddy, just shaved 70% of wages!! What a move by the swan master. Royal Britannia!! Bye bye American pie!!
Similar to what I've just found. Too many Graham Duncan's to know if you have any relevant info. tBH I don't know that much about our major shareholder Mr Swan either
Muppets always sell first and then ask questions later
Aditya Chathli biography
Aditya Chathli is Non-Executive Director of the Company. Mr. Chathli is an experienced capital markets expert with an approximately 25-year track record of advising global companies, organisations and government agencies. Currently he is a Director of Luther Pendragon Ltd, one of the UK's leading independent communications consultancies, and a Director of a capital markets advisory consultancy, Access Capital Markets. He is also Chairman of Lokcom Networks Ltd, an IOT technology start-up company.
....REGARDLESS of this....we have either been selling shedloads of products, or not...nothing has changed.
now if our 2 friends have been caught wasting OUR £££$$$ then Swann and co have seen it for themselves...whether our BOD sticks up for them or not...but they certainly do not have enough shares/votes to demand instant removal and replacement in the office. !!
sell at your peril....our sales are STILL happening regardless...
Would be interesting to know who Graham Duncan & Aditya Chathli are? Anyone?
Correct Matt...
just read Swann & co want Antonio and Trev out mostly due to the USA sales, and money not being used wisely.
Our board obv not happy about that...and stick up for them.
We minions find out last....
Pretty sure Swann and co need 51% to start throwing dummies around and demanding change...
they either get their way...or...