Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Custos should have bought another 5% to trigger a takeover although that would have cost c£1-£2m and forced the Board's hand they would be in a strong position. I would say the Board saw this coming and moved to cut them off. Mr King keeps his job. We the taxpayers pick up the Pension deficit. If Mail are buying i as suggested then a deal was done with no END.
Hes telling people he will be fighting this for shareholders and employees court if necessary. See on Monday what happens to the shares no RNS is criminal. If I have lost my money I hope Custos has the guts to take them to court and possibly jail for some of them.
Shocked to see this last night as I throught they had until June 19 to sort bondholder payments out? Also Viking tweets are all good, needs to take some decisive action.
But Maffa you have him saying he has a plan and then you have King saying they have sought advice and options from their shareholders none of which cut it, someone is lying. I cant see Tyndal, Bernstein and Custos letting all this go without putting their ten penneth into it. Surely they have to demand an EGM the board seem to have done this without telling the major holders. I honestly dont know what to make of it all.
Tweet - well worth reading - it simply may not be over just yet. If he has a a restructuring plan which I guess he must have - reputations/money on the line perhaps this can be brought back as a going concern. Certainly hope so - from my personal point of view dont want pension going to PPF. Gl
May be Bluedreamer! I hope! But I dont see what the Viking can do, and I can keep my shares.
BBC News - Johnston Press: i newspaper publisher sets out rescue plan http://www.bbc.co.uk/news/business-46243622 King keeps his job. Not even on their website. £60m for i if sold goes to Bondholders. Sell off the family silver over the years to hide the failings of the CEO and Board. About time the Companies Act was looked at.
has tweeted an hour ago he aint for rolling over and intends to fight this all the way. Looks like I owe him an apology and lets hope he can actually do something. Heres hoping check out his statement on Twitter wish I could do links must learn to. Maybe not over yet Booln. GLA
Sorry to say but this looks like the end to me, sorry Booln, we can maybe cling to the lack of an RNS stating the official stance but its a lot of effort if this were fake news. Its made the TV so if it were false the ompany would have had to say something. Is our great protector the Viking involved in it we dont know. With the lack of comment fron him I suspect he is and I suspect he has done well out of it. Not sure whether shareholders can force the BoD to carry on looking for alternativestill the bonds are due, if they can I am sure the bigger shareholders would be calling for an EGM to see what has gone on. It really stinks especially if King has kept his nice little job. So lets see where the Viking and Bernstein are and see if they are part of the stitch up or in the same boat as us and fuming..
Total wipe out for share holders
Well, as I said in October, administration it is. I did think they'd manage to flog the I and scotsman first but even that was beyond them. Interesting to see what the viking does next. Maybe he's already in bed with the new owners?
Or if the viking will be part of the new structure
Looks like a pre pack... Wouldn't surprise me if one of two scenarios play out... 1 board stays or 2 new board includes CAH. They should have a legal right to the shareholders pension etc to wait till June. Bonds not due to be paid till then.
Bluedreamer, what is your opinion?
But shares in the company, which had rallied earlier this week at the prospect of a deal for the i, are now worthless and will no longer trade on the London Stock Exchange from Monday. From HTFP but plenty of other sources out there....certainly newsworthy. Bondholders triumph over equity, massively one sided.
I believe the shares will no longer be traded on the London Stock Exchange.
So, does it mean all of my investment gone away? Will the trade stop from monday?
This is terrible just shows you how they can shut the doors with an aim to March away with investors monies. I wonder if the viking got out, or if he lost all his stake?
I feel sorry for all genuine shareholders if this is true! But sometimes it's all "FAKE NEWS" until you get the Rns. Vgla.
Did state how many of these situations end well on this board...certainly thought admin was a likely senario - not invested but employer for nearly 20 years. Genuinely feel for the long term Shareholders here. Bondholders win out as invariably do.
Email to the staff on this tweet, oh well, thats my investment down the pan!
https://twitter.com/jimwaterson/status/1063557967684009984?s=21
Agree, why did they not RNS this before market close? It looks as though this decision was made prior to close allowing some to get out?
Should have put this in a rns markets are terrible
Hense the drop where is the 20p rampers now
https://www.google.co.uk/amp/mobile.reuters.com/article/amp/idUSKCN1NL2J6