The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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LM, as we know the company has already committed to the process of annual nomination, which will start at the December AGM. Therefore I'm not sure the EGM would relate to that particular issue.
I think we can rule out a bid for the entire company and I'm beginning to feel it's something to do with the fraud. So far only Jason has had to carry the can for this, which may, or may not, be fair (we have no way of knowing). Mather was running the company at the time and certain shareholders may feel this is an opportune moment to shift him off the board - although I'm not sure this would achieve much.
I can imagine that BHP/NCM and CGP were understandably very annoyed about the revelation - their public silence was telling, and I've no doubt they'll use this as a stick with which to beat the board.
I'm surprised this has just been dropped on us out of the blue. If the meeting was called as a result of a disgruntled major shareholder(s), I'd have expected there to have already been a public statement from the company explaining the situation before releasing the notice to call the meeting - although I'm sure we'll see something this week.
So my own musing lead me to believe this is either a move to get rid of Mather or, it's got something to do with Cascabel. I very much hope it's the latter.
Whatever the reason it's sufficiently important as to require shareholder approval and we should have an interesting few weeks, particularly if the proxy vote monkeys are employed to canvas our support again (unlikely as there isn't enough time).
Ho, hum - the joys of being a SOLG shareholder!
Quady and rednight have agreed to buy out solg.
Quady goes to production with his share, red maintains the status quo with his and wheels and deals the share price.
Simples
As always DYOR
BoD reconfiguration after misappropriation of funds.
Z
The headline suggests DGR don't know, which is strange. So many possibilities, DBW.
https://www.mining.com/web/commodities-in-perfect-storm-says-erg-as-crisis-starts-super-cycle/
Digging Add
DBW, do you know what the article said? I'm not a subscriber.
Add ….. it’s interesting to say the least
DBW, the removal of a board director under those circumstances wouldn't require our vote. However a motion to remove the whole board would. Is it possible BHP have demanded such a move? If that was the case I'd have thought we would have seen something already.
Exactly DBW. As an individual transaction, that was as big as it gets for SOLG. Someone went big for a reason.... Knowing my luck it will be cos Brenda the long serving tea lady's cats died and she's retiring, but there again, i did have a very itchy palm yesterday... humm :-)
Could simply be for the removal of a board member re misappropriation??
Who knows
Someone who spent £1.3m thinks otherwise
55p by end of Wednesday at last!!! ONWARDS & UPWARDS
Speculation growing… DGR
https://hotcopper.com.au/threads/solgold.5904035/page-834?post_id=61683308
Thanks coldcut! Great find and thanks for sharing. Looking forward to finding out what this EGM will be all about.
Further to my last missive. They have given the "notice" of the meeting, when to they have to publish the "agenda'? 14 or 21 days? . In my experience they usually go hand in hand, but that was sometime ago. If it is a JV for casabel, surely they 'know' about it now, would they not have to have published this info? (beyond my knowledge).
Stuckey, my knowledge may be a bit out of date but wouldn't this qualify as a Class 1 transaction which would require shareholder approval? After all it's our main asset by a country mile.
I don't think we would NEED to, but it would be a vote of confidence in the board's decision, which would be sensible - depending upon the vote going their way
Stukey, that's what makes me feel this has something to do with Cascabel rather than a bid. We would need to vote on the disposal of our main asset.
I could be wrong but by the way the market has been trading last couple of weeks would suggest a major holdering before an offer but let's see gla
Quady ,if you look at other extraordinary calls for an AGM they not for a j/v or cash raise that can be done in a RNS to all shareholders so to call one can only be for an offer imho
I don't think you need an EGM for an incoming bid, as one votes to accept or decline the offer
If (I agree very unlikely) SOLG are proposing to bid for someone else , ie dilution I can see more reason for an EGM
I think if it is to be a JV for Cascabel , I can see more reason to do so.
For one of the smaller assets I think not.
Q, the company most certainly would require an egm for a bid. As for a jv, it would depend upon which asset was in play.
J/V.
I don't believe you require an EGM for a JV or bid.
More likely to be an issue to raise funds.
Solgers your onto it now I see ,well good luck everyone it's finally coming home !!!!:):)