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Soleman. Have to agree with you. I got rid of my shareholding a couple of weeks ago, this time at a loss. Cannot understand why they just gave the company away.
Klk could have put pocket change literally tip money on top of the offer and given PAL shareholders a double up on the sp. It wouldnt have fulfilled the dream of a mighty company from micro aim but people would have been satisfied. Today the company finds itself with no assets and almost no cash due to this fire sale no wonder directors are jumping ship. I would have rather fight it out to the bitter end than sell at a loss as i did, I genuinely would be pleased to be wrong but I cant see this going any other way.
Hard to see 750k paying director salaries, accountants and aim listing for long. Surely shareholders would be better off receiving 0.25p now and winding up the business.
Stage One
Deadwood jettisoned
Best of
Good to see the BOD have made Our £75 million Investment worth £750,000 today .
GIssa Job .
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Let’s get above 1p as the first target!!
bbr391 hehe yes positively steaming ahead. Interesting that 2m trade, I couldn't get .36 to sell my small batch.
Racing towards 0.4p .
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Surprised this isn't higher on this news very tempted to buy in!
PAL now a cash shell. Interesting.
Clean and ready for a grand finale .
One hopes.
Best of All Old Pals
RNS out
0.35 No huge rush GLA Stav
Cheers, feel this is a key feature here. As I can’t see how they would not also further invest in new acquisitions here as surely they will want to recover on their losses. So point is they will have around £800k cash + a lot more if from their mega investor if they find the right investment!
This is correct, a reliable poster that is no longer on LSE used to always reiterate this point.
From what I see the major shareholder holds over 63% of PAL, from what I see they paid around 5p for these in 2013..can anyone advise on this??
Check out the major shareholding (Jan 20) who are backing this sale, but have significant holding and appear cash rich....interesting to see what KLK are planning here?
KL-Kepong International Limited 223,959,702 62.86%
Mr Lee Guo Zhang 17,000,000 4.77%
CEO
Michael Frayne, Executive Chairman of EPO, commented:
"The last few years have proved to be a very difficult time for the palm oil industry in Liberia, and worldwide, which as shareholders will be aware has significantly impacted the Group's ability to develop its palm plantations at the rate we would have hoped. Indeed, last year we announced that Butaw estate would cease operations as it was not economically viable to continue.
"Having extensively considered the proposed Disposal, I, and Geoff Brown, believe that it is in the best interests of shareholders for EPO now to dispose of its interest in LPD and seek to utilize its cash reserves, of approximately £800,000 expected on completion of the proposed Disposal, to seek to acquire another asset which can deliver value generation for shareholders in the near to medium term."
Clean cash shell £800k..
Maybe they`ll be cheering in the Oil fields soon.
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Haha. Very good :-)
I assume there will be an announcement on the new asset they will be acquiring.
Current market cap definitely provides some level of upside.......... maybe.
Hopefully this one will be economically viable :-)
+++++++++
· The proposed Disposal will eliminate any future costs to the Company associated with its interest in LPD and enable the Board to seek to acquire another asset which the Board believes is more likely to generate value for Shareholders in the near to medium term.
· On completion, the Company expects to have available cash resources of approximately £800,000, which the Board will utilise carefully in seeking to identify and execute a potential acquisition.
Suhail will be pleased .
£6 million on the horizon .
Best of
Some chunky buys the past few days..
Something is brewing!!
Flying...