Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Good morning all,
Has anyone else noticed that the AGM notice and details are posted on the company website but haven’t been RNS’d as in previous years?
Here’s the link to the page:
https://www.iqai.ltd/wpiqai/wp-content/uploads/2024/04/2024-IQ-AI-AGM-Notice.pdf
Shrek
Great spot Shrek
That was dated 2 weeks ago, trying to keep things quiet maybe.
Quick question, seen as I would guess most us hold shares through HL etc how do we get on the company’s list of share holders so we can vote? Otherwise our thoughts don’t matter. We all need to be able to vote and actually vote.
Also picking up on something Max posted yesterday all our previous FDA approvals were for GBM but we have been approved for ATRT. So does that mean they can’t be linked for tax, EAP etc?
Thanks
Thanks Tyke,
I thought it was just me. I will have a look on Monday regarding voting.
Have a great weekend.
Shrek
The AGM seems to be being held in secret if no RNS posted. All very cloak and dagger. I have messaged HL and the shares registrar to see if they can help especially seen as it is being held overseas. Not sure if anybody could attend and be a proxy on our behalf etc. TB and Brett Skelly are both up for re-election, it is like they are trying to not be opposed or that is the impression I get from not being told. Trek, I assume you will know but should they have informed us about the AGM?
Very secretive all this.
Have a good rest of the weekend everybody
Thanks
They don’t necessarily have to RNS it, publication on the company website is okay as long as they also post out hard copy notice to members that it is on the website, per the Companies Act sections 307-309:
https://www.legislation.gov.uk/ukpga/2006/46/part/13/chapter/3/crossheading/notice-of-meetings/enacted?view=plain
If you bought your shares via a retail broker that holds them in a nominee account in their name then it’s up to the broker to decide if they will notify you of the details and/or give you an on-line voting option – many don’t offer that as part of their standard service or it can be variable and inconsistent as to when they do notify you.
But very odd to not RNS it this time given that they always have in the past. Perhaps to cut down costs? Except…
They could have mentioned it in the annual report which was issued the same day, 29th April. The financial report version of that was issued in an RNS that day but didn’t mention ‘AGM’ anywhere; the full Annual Report published on their website, which was mentioned at the very top of the RNS, just stated “…the AGM, to be held in May/June 2024…” despite separately publishing the actual date the same day. All seems like a bit of poor admin/oversight?
Note that some of the links on the company website don’t work directly as they add an extra ‘iq-ai-ltd/’ erroneous part to the link so you get a 404 page not found error. If this happens then just edit the link in your browser bar so that the first part looks similar to the link posted by Shrek1st below. The notices will then download/open as a pdf.
He probably thought IQAI was already private 😂😂
Anyone looking at the shenanigans going on at CMH where TB is involved. I'd hate to think that sort of thing would happen here. But even TB isn't going to screw himself given his holding here. I hold here so this post is genuine plus our tech is doing good work for people.
NG
Not to RNS details of the AGM is an effing disgrace IMO
I thought as main market it had to be notified. If not it’s def at odds with the bs in the AR about shareholder respect and comms!
I am in ii and have just voted. It’s in the voting mailbox.
Votes have to be in by 23/5. There is a reject all button!
Trek
It will be interesting to see who picks up the assets on the cheap. I’m pretty sure tb took 75k salary from them as well. I thought my electric bill was high lol couldn’t they just get one of those key meters where they could pay as they use. Like I used to have as a kid. Be in the middle of something then the electric goes then have to wait until parents got home before they could top it up? Probably foundries can’t use those.
If any people are on other boards it may be wise to post there to let them know when the AGM is. Just a thought.
Thanks
Just realised the date has not been posted here yet - 29th May, for those who don't like/cba clicking on links.
As Trek notes below, brokers that do offer on-line voting will normally have their own deadline up to a week in advance so that they can collate all the votes and submit in time.
Update
got a reply back from the shares registrar. As Trek has said you need to do it through your nominee company. No reply from HL as to where they stand on how their customers votes. I will keep people informed when I hear back. Hopefully people do vote, however they feel, just so the board knows we are watching etc
Thanks
I hate to say this but...
maybe everything is going to be OK. if you are uncertain, then sell up. but it would seem crazy to sell at these prices - this is a buy price. even if you have doubts, this is a reasonable buy price. you might get a lower entry. you might not.
Xviolet
I also think in the long run it will be ok, the technology is proven and the drug seem to be going in a very positive direction led by the FDA.
I think what upsets most people are all the shenanigans and lack of communication. How many of us would have missed the AGM if Shrek hadn’t posted it? I would have. We just want to know the truth, good or bad so we can make our own minds up based on all the facts. So hopefully if the board read any of these posts we may get more updates and then some us can stop doing all the research, googling etc. We don’t even know where we stand with GBM and PRDD. It is all too much cloak and dagger. News can’t exactly spook the market, it can’t drop much more. Just tell us what is happening that is all we ask.
Give us shareholders some faith in the company and the trust in the board will improve.
Thanks
We chose to use IB software for our study on perfusion analysis as it allowed for quantitative analysis of standardized perfusion metrics in whole glioma lesions while also being user-friendly." Siem Herings.
See you at the annual
@TheASNR
meeting!
https://www.auntminnie.com/clinical-news/mri/article/15670669/imaging-biometrics-highlights-glioma-study-results
Thanks Kane
So that’s us expanding our reach to the Netherlands. I wonder how much all these researchers are paying to use our technology?
Enjoy Jersey, I wonder if they are putting on a buffet and drinks for all the shareholders?
Thanks
Hi Tyke,
Sorry if I am telling you something already known, but I am with HL and I have just got a voting pack to look through. I've only just found this.
Just had a quick scan (not detailed so I may have the wrong end of the stick) but I find it a little concerning that we have been kept in the dark over most developments (unless you happen to be on X) and there seems to be lots about share buybacks at 105% of market price.
Maybe I'm paranoid, but I expected the price to be between 5 and 10p by now, especially when they were 21p when I first started looking at these. I'm worried there is a plan afoot to fleece the LTH somehow by these buybacks and issuing new shares etc and the bit where they can set their own salaries when they can't even be bothered to rns information any more worries me. I have over 3 million of these shares and am 60% underwater which is crazy as we are in a much better position than January when we were 5p.
If we all vote to reject the proposals at least it will send a message that we are fed up of being taken for granted.
I personally think big things are planned or in the pipeline but I'm not convinced our board are working for the benefit of all shareholders.
Thanks for reading my ramble.
Steve thanks for the info. I messaged HL but no reply or voting pack yet. I am in a similar situation to you with the paper losses. I wouldn’t be surprised if between us on this board and others we own a considerable amount of stock so the board could be in for a surprise if we all rejected the agenda items. How many shares percentage did TB say on another board required to start asking awkward questions. I am sure somebody will remember. Let’s see what happens.
Thanks
Steve124
You have given me a lot to think about. Regarding RNS-ing information. It is expensive to issue an RNS. I can't recall how much but there is a cost. So many companies will (wisely, I think) not RNS information that does not 'have' to be RNS'd. I think there is a certain category of news that 'has' to be RNS'd.
I think another poster here explained that the buyback info is standard. Perhaps there are similar paragraphs on the annual reports of other companies listed on the main market - I haven't checked. I don't know. But I would check if that issue concerned me.
Why are you/we underwater? The company had to raise funds. A lot of posters on this board - and I also made the same mistake- fancied the company was making more money than they let on. Or valued the company according to its potential? But I guess cash is king,. I first bought this stock because I liked the potential - then I looked at last year's annual report and I looked at this year's report - the numbers/figures offered a very helpful perspective.
Steve124 - sorry to intrude as I see your question was to Tyke, but just to help put your mind at rest on a couple of things:
The wording about setting their own salaries I can't see in the notice so wonder if it's the bit in resolution 4 that concerns you - "to authorise the directors to fix their remuneration" - that relates only to the remuneration of the Auditors and is a standard wording in most company AGM notices.
The 105% limit for share buybacks is fairly common as well. It means they won't be buying back shares at too high a price as they are limited to 5% above recent average mid price for any purchase instruction. That could be seen as a good thing as it stops them buying unnecessarily high during periods of high volatility and also deters anyone from trying to pump the share price purely in the hope that the company will automatically buy their shares at an inflated price. It is shareholder's funds they would use to buyback shares so you would want them to do so responsibly and this point maybe helps that.
Not trying to influence your voting decision in any way, just trying to explain how these two points are normal AGM resolutions for many companies and are not designed with anything ulterior in mind. They were voted on and passed at last year's AGM as well.
thank you all for your replies and thoughts.
in a nutshell, i believe that the ib guys are doing a superb job that could benefit mankind in its treatment/detection of terrible illness's. i have got nothing but admiration for everything the medical guys do to further medical advancement and knowledge. however, i don't have the same beliefs that our directors necessarily share that same outcome (ie to benefit mankind). in an ideal world, the directors lead by example but all i'm seeing is a company benefiting primarily one individual and his extended family rather than all shareholders.
i just feel the lack of transparency is insulting and in general these meetings are an opportunity to voice our disapproval at the way the loyal lth are treated.
the upshot is that once the share price rises , the peasants will stop revolting, and i genuinely expected news to land before the agm to quell the dis-satisfaction most of us probably feel.
when i go to my hl account and go to the voting page, it tells me there are external links to click for more information.
when i click on that it takes me to a dodgy looking webpage called flyingbrands. the page instead of explaining the resolutions is advertising algorithmic trading bots.......wtf?
a quick search on companies house shows 8 companies all dissolved with similar names 9yrs ago, all with links to tb and price****house - hardly professional and confidence building.
i hope i'm wrong but i just get the feeling that we are being used to fund the company until the discoveries are published and then it will be taken from us with little or no reward for borrowing our money all these years.
hypothetically speaking, the ib guys could find a cure for cancer and end countless suffering but would our illustrious leader be driven by the thought of winning a nobel peace prize or taking the company private the day before the announcement was made? and for those that say, just sell if you aren't happy, i say no thats what this voting is for.
Steve124 - the dodgy links in the voting section on HL are a mistake by HL, not IQAI. interactive investor have done the same. The brokers haven't updated their own records after the name change from flying brands and subsequent actions. I suspect the brokers have also been caught out by the lack of RNS to notify the AGM so have now rushed out the voting option to meet their customers demands/enquiries about it, without checking the details first, because the deadline is coming up soon.
The link they should be providing is https://www.iqai.ltd/
Scroll down to the bottom of that page (or click on publications in the top right corner) and you will see the correct links for the AGM Notice, the proxy form (which you don't need if you are voting online) and the 2023 Annual Report (which is to be voted on under Resolution 1).
Perhaps you could notify HL of the error and give them the correct link so they can update, Tyke maybe do the same? I'm going to do the same for ii. Trek, if you have time maybe kick ii as well - the more shareholders that complain to their brokers the better service they will give.
If anyone with other brokers hasn't had any communication or voting options at all then it's maybe because of the lack of RNS to prompt them. If all they have is a letter or email from the Share Registrar then that could be gathering dust in an inbox and then conveniently forgotten about after the event. You could also give them a prod and send them the link above to see if they respond to help you.
Hi Corry,
Thanks for the reasoned reply which HL are currently looking into - at this moment I'm 95% sure you are correct as they were struggling to understand my query on the phone and I have submitted screenshots etc so their "experts" could look into it for me. It it is HL I am appalled how any broker could be so lazy as to send you to a 9yr old link that looks well dodgy like someones N igerian uncles nephew has knocked up in their bedroom.
May I ask how long you have been invested here - you obviously don't have to answer but you seem very knowledgeable and placid regarding the company and seem to know your way around an AGM?
Thanks,
Steve