The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Ever since the first boasts about Nigeria coming to fruition the company financing and media has been carefully managed by Art and Ryan.
Need to raise funds? Release a mind blowing RNS then dilute.
Need to to stabilise the price? Massage the production values (Sept 21) to keep people in while those in the know clear the decks.
RTO? No suspension needed. Oh look suspended.
This was never going to work out fairly for shareholders. The shareholders have been completely and utterly ignored and used.
But there are laws about this. Long runs the fox.
Yep, the damage has been done.
The assets have been transferred to Summit for a pittance and they will sell them on to get their money back.
No way back from here, someone else will legitimately buy them and COPL shareholders are history.
Can't blame Summit, they just wanted their money back.
Rodney, sounds good but this process is done and dusted, I don’t see any way forward other than legals.
It's not over yet my friend. This week is important and there are realistic reasons to be hopeful. If things are not as we'd want this week them the legals look great. One foot in front of the other. Our oppo are rich people. But they can't thwart our resolve and grit. Whatever happens this week, we press on.
I am hoping that Michael Cotter and his team and CAG have put something together and turn this around somehow
Stepford are very good at what they do and will want a quick turn around, I can't see us waiting years to get our a money back. People in there 70s and 80s have invested here and need savings back now
If fraud can be proved, then everything can be reverted as painful as it would be.
"Fraud unravels everything. The court is careful not to find fraud unless it is distinctly pleaded and proved; but once it is proved it vitiates judgments, contracts and all transactions whatsoever.” (See Lazarus Estates Ltd v Beasley [1956] 1 All ER 341, 345)
What does it matter if the CAG offer an opinion today, tomorrow or 2 weeks time? If we are embarking on a class action process it’s years so an immediate response is not always beneficial and from this point anything written shouldn’t have some legal scrutiny or oversight if it could be contentious
Stop panicking about impunity from future action.
I would assume it’s putting in place impunity that the process itself can’t be reversed as once SL have it they are free to do what they want with it and if the process is completed the impunity will be that the act of SL buying/taking it is final and not reversible.
The process would not be able to dictate that everyone involved gets a free pass from activities in the past, but it probably dictates that SL can’t suffer from any future outcomes.
Angusscott, you seem critical of the group all the time. Face it we lost our money. Only copl to blame for that, and the lies we was told
Still nothing from the group
I am extremely surprised that no financial/investigative journalist has picked up the baton. Maybe it's because this kind of fraud is now the norm and 'there's nothing to see here. Move along.'
ALF, PK'' discloser statement did say shareholders will see a general meeting when it's all wrapped up'' and as the stalking horse BID / offer price was never made public ? perhaps there will be something left over for shareholders who knows ?
as the CO is still to tell us if we will be left with anything or not'' as they will still have to bid for the equity side of the business, and other asset which is a separate matter if they wish to continue business as usual, i think a paragraph of equity purchase was in my last post.. this C15 is not a D4E as far as I'm aware, unless they have written it in recently ?
I think we should wait on the proper outcome statement before we kick the chair away IMO, but as nothing is a given start writing off your holding in COPL from now'' so you are not disappointed... on any outcome, and as i and others said before we are at there mercy.. with no help from governments or FCA whatsoever...
Regards
Well in it may be a little difficult, but I will definitely be on it. ;-)
I’ll be at the marathon, standing in the grassy knoll.
We were never told why the application for a general meeting by Mr Cotter was deemed deficient. This time we need it to be absolutely correct, no loopholes.
Https://www.justgiving.com/page/ryan-gaffney-1692272600856
Don't forget this at the weekend, he helped steal our money.
So they have successfully stolen our money and they are now looking for immunity on any future legal action.
Unbelievable what corporate criminals think they can get away with.
Satisfaction may have to be obtained by other means.
So is it ‘only’ Atomic and CUDA that Summit bought to cover the debt?
Any oil containing land left for COPL?
Will it resume trading?
I hope Anavio didn’t get a penny!
Can RBMInvest or any CAG member shed light on the SWP inclusion (or not) within the sale? It's mentioned twice in the AVO.
To me it suggests they may no longer be needed, that points to a larger organisation with experience operators ready to hit the ground running.
If this is provable now or at any point in the future it would strongly indicate a conspiracy to defraud us of our assets as the timing does not fit a normal continuation of operations i.e. SWP onsite. We're told no O&G operators are interested so how can they continue without SWP.
I’m stunned no LOI’s??? - good god if WE had each put in some funds we coud’ve bid independantly for more than SHB - also 137 approaches in PK’s affadafit? Why did PK tell a shareholder 160 approaches- unbelievable! All of it! What happens to the assets not inc in the sale? Can we or CAG approach the SL and buy from them? They don’t want them obviously. What is next? Shareholder takoever? Our market listing has value can another RTO manoeuver into it? IMHO DYOR
yes i have lost everything in this company so a bit ****ed off really but we have been scammed and i really don’t think we will see a penny back
Sounds like it's all over here - some really gullible people in denial who refused to see the writing on the wall that was plain to see for months here !
RBM we are not going to get a penny back now
Maybe we was all just sold a big fat lie. Nobody really ever wanted it. Let's face it Arthur probably bought it with loans etc and made a fortune. Only mugs here were us 😭. Night all don't let it get you down. What goes around etc. People use to say here it's his last chance to prove himself, well he prove himself to be a fraud.
Another telling fact is they reached out to 137 parties, but only 4 could bring themselves to signing the NDA to view the data room.
Was that due to the timescales offered? Was it getting internal governance to agree the NDA on the table?
I do know that the bigger the company the longer it takes to agree even a simple NDA, let alone go on to bid.
Was it there is nothing worth buying, without even viewing the data?
The game plan imho was to ensure no one would or could have bid by the simple action of setting unfeasibly short timelines.