Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. 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.
I don’t hold LEK….. I do however hold a significant amount of SAVE which is why I’m interested in what is happening here….this is how it will play out….either the SAVE deal will go through and you’ll get some value or LEK will delist and lekoil Nigeria will win and your holding will be worthless….anyone who thinks lekoil Nigeria has your best interests at heart is a fool imo…..I’ve deeply researched what’s been going on
Wow I've just seen the RNS hard to believe I made substantial amounts in LEK buying at, would you believe 49p, to think they were suspended at less than a penny is astonishing and no doubt down to the standard African Corruption, another African Minerals no doubt. Sorry for all here.
RNS - Lekoil Limited Cayman winding up petition
RNS Number : 6763H
Lekoil Limited
07 April 2022
7 April 2022
Lekoil Limited
("LEKOIL" or the "Company")
Cayman winding up petition
LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, notes that further to the announcement of 6 April 2022 related to the Nigeria court process, it has received a winding up petition for the Company filed by Mr. Akinyanmi (the "Petition"). The Petition is based on alleged "oppressive conduct" by the Company, its directors and certain shareholders in "seeking to engineer a takeover of the Company" and in breaching certain intercompany financing and management agreements.
The Company will take appropriate legal advice so it can defend the claim. Further announcements will be made as appropriate.
Anthony Hawkins, the Company's Interim Executive Chairman commented:
"The Company will take the appropriate legal steps to defend the Company from the Petition, which it considers unmerited and without foundation. We note that Mr. Akinyanmi's previous ex-parte injunction, which addressed similar issues, was discharged by the Cayman Court and that Mr. Akinyami has not, to date, progressed further with that claim. This winding up petition, also by Mr. Akinyanmi, is at odds with the public statements of Lekoil Nigeria (of which he is CEO) that it wishes to act in the best interests of shareholders. Instead, by way of this petition, Mr. Akinyanmi wishes to wind up the Company, the effect of which would clearly be detrimental to the Company's shareholders. As such, the Company will vigorously defend the claim, continue with the work necessary to have the Company's shares unsuspended and continue with the steps necessary to recover its investments in the Lekoil Group."