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There is no board policy other than filling their boots.
Zorbas is a borderline crook and is finished in London because only idiots like you are prepared to either turn a blind eye or are in his pocket. Hogan is a chancer who is probably closer to criminality looking at his history and again absolutely no one is going to follow him in London which is why he has had a sudden change of policy on social media and setting up a new business. I pity any Swansea followers who entrust him with there money.
Then you’ve got fat Tim, he is a waste of oxygen, although looking at the absolute state of him, not for much longer. Brenton? big strong Aussie with absolutely no balls and a lack of business acumen that leaves him unable to spot that he is getting turned over all over the place but is still happy to take a monthly wage because he knows he’s landed on his feet and isn’t going to get such an easy ride anywhere else. I understand Hackett might actually have the wherewithal to stand up to Zorbas but we shall see..
It basically depends on whether the midget actually walks at the end of this month. If he doesn’t there will be another EGM and that gap is manageable.
If that’s all they see is that they’ve won and can therefore ignore reasons behind the last 2 EGM requisitions then , sure, they’ll carry on failing the business, failing shareholders other than the few large holders ie. themselves and their cronies and this will continue to be seen as an uninvestable dog.
Past history suggests no desire to run this as anything but a scam for the few, however much the BoD try to pretend otherwise.
Just thought both sides might want to ry and move forward but not if it’s seen in the context of winners and losers.
Personally, I’d rather that there not be another EGM attempt .
It would be better if the 2 sides try and come together and thrash things out. Maybe have representation via the 2 proposed non-execs.
This would depend very much on whether the BoD have only their own interests and also whether rebels would be prepared to work with them.
Also depends a lot on whether Zorbas steps aside as proposed and whether he and the likes of Hogan distance themselves.
I don’t see how this can ever move forward whilst there are constant battles. That’s pretty much been the case for the last few years.
Win4call.... Agree with everything you just posted.
What I would say is the gap is now only 6 million votes, and there is a very positive vibe that that can be bridged at any future EGM.
Interesting reply given the shouty comments you’ve had removed today.
Regarding the EGM , not a surprise to me and nowhere will you find posts from me suggesting that he BoD would be defeated.
We have 2 large factions, one bigger than the other that are vehemently opposed to each other. What is clear though it that it is the boards actions for the demise of the SP. Let’s not forget, it was the ludicrous Alerion deal that saw this drop , not any of the EGM requests- they were a response to the resulting fallout from the deal and all the subsequent confessions / clarifications around the selling parties and all the related linkages.
The BoD have facilitated failure at many levels:
The placing last year which went to Hogan but was covered up.
The failure to refinance.
The failure to appoint a non-exec and meet corporate governance requirements until it was brought to light earlier this year even though there had been a board commitment last year to address this.
The issue of Hogan and his dodgy TR1 reporting.
The Macquarie TR1 , 18 months late.
There are those, like yourself, who blame the rebellious shareholders for all the issues with the SP and sentiment. I think many , including commentators on social media point the finger at the board.
Questions, if you are so supportive of the board. Will Zorbas step down as previously announced ? Will the refinance agreement ever get announced and more importantly, will it be good for the business and SP. Will the next new non- execs be truly independent ? How will the company demonstrate that it is truly working for shareholders - other than a few major ones ?
A bit of Anto gloating.
Nobody likes him but he don’t care.
I must have missed a few disagreements here as about 10 posts missing.
16 showing but 26 reported hmm, what did I miss!
Compared with the EGM in May, the gap has closed to a mere 6 million votes. Momentum is clearly there. And significantly the votes against have fallen by 2 million. Confidence in the board is falling. Confidence in the need for change is increasing.
One more go will do it....
The holy hope in here is for
Zorbas Stepping down in August ,wait and go do what ? URU is a goods as finished, despite the boiler rooms posting constant shi.
Impressed look the jump on share price ...Amazing how investor running to give money to a company run by croo.. ...sca..
Fair to say the market is ambivalent to the results, same as it is to MRS these days.
Long, long way back from here - if at all. This has had so much garbage going on around it that trust and sentiment are non existent.
Let’s see if Zorbas really does step down and what the next surprise is. Probably have him and Hogan as our 2 new non-execs.
With there having been only 4 trades so far today, for a total value of sub 10k, you cannot credibly state “The market likes the EGM results”.
Well I am genuinely disappointed at the result and the fact the majority of shareholders voted for the resolutions but were only defeated because of a select few who hold more shares because of the Alerion deal.
There will be mixed feelings from pi's this morning but as mogbear stated it might not be over.
The pi's who voted against the resolutions seem to be willing to let let Zorbas and his compatriots get away with basically giving themselves free shares, which for some reason they are willing to be to turn a blind eye to.
Aim is a market that is full of companies that do the same thing and get away with it, and only when an example is made will it start to change.
I will still hold and see what happens next as there should be news on debt restructuring soon, and new directors, let's hope no connections with brenton or zorbas etc as only then will they be accepted by pi's.
Zorbas is stepping down next Friday / Sat but will still have influence thru his uru holding so don't think we will get rid of him completely. Don't know quite what's happening at uru but hope it turns out ok for pi's becaus they seem like a genuine bunch but with Zorbas involved and what's happening at captor don't think he is to be trusted to do the best for pi's but will look after himself.
You watch that not happen, was said to deflect some of the heat they where getting, now they've got through the vote he will continue to bleed the company for his own personal gain
Dearest Antofelli, your sense over confidence does not serve you well.... Please, be reassured that this battle has just started & there are many on the sidelines ready to put this to bed at the next EGM - Enjoy your dizzy weekend.
Stepping down on August 31 anyway I thought.
No major surprise then, let's see what happens next...
We'll see.....
We'll see who the loser is on tomorrow's vote, however there is no doubt when it comes to postings here, you are definitely the loser.......
antofelli, Are you in Australia? 4.59am to post that....It is 'loser' !
"looser - Urban Dictionary
https://www.urbandictionary.com/define.php?term=looser
A looser is a loser who can't spell "loser". ..
I see we have the illiterate antofelli posting today.....
It has been stated in a previous RNS. It has the same registered address as Zorbas Cyprus company - what coincidence.
Thanks SID that explains it, but why didn't they state that talbott was tied to Corrales? or did they and I mist it.
Funny how anything to do with Zorbas seems to disappear into some company in Cyprus.
Someday it will all come out.
As part of the Alerion deal shares were issued to Elliott Talbott . Allegedly Elliot set of Corrales to hold his shares. Coincidentally based in Cyprus ??