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Certainly feels like the scene is set for an offer announcement but whether that is teased pre agm and fulfilled in H1 2024 .. who knows... but the 'how to sell a company' playbook has been pretty much followed to a T.
1. Reduce share price so threaten shareholders with some kind of misguided reality
2. Reduce cash balance to point that means more dilution
3. Reduce company to moth ball status and bore shareholders to death
4. Sack or remove chairman and anyone esle that gets in the way of sale plans
5. Present pony offer to shareholder and pray someone else counter offers it.
Tick tick tick...
Trouble is... they have an AGM coming up and the above is not going to help much if Scott gets the boot. So what else do they have up their sleeves as planning like above always results in plan b's and they knew what they were walking into Come Dec. So come on Scott and Bob... time to show your hand very soon. Lets have it then.
Exactly DBW, the same kind of irrational behaviour as those who will vote Labour because it’s not conservatives
So Fort you’re not happy with losing 2 directors for no apparent reason ….. so hey WTF let’s make it 3 or more ???
Absolute madness
Who Fort? Where are SOLG going to magic a whole new BoD from at a time they're trying to re-present Cascabel to the market and push on with government approvals?
By letting Twigger and Clare go SolGold are now a stranded buffalo out in the serengetti. Is a hungry pride going to cross our path or will we be left as finger food for the vultures sat up high?
Hmmm.
Well, I'm not happy with losing two directors for no apparent reason at all.
So I'm voting Scott down come AGM unless he has some news that changes my mind.
Throwing some lambs to the wolves is lets face it... rather cowardly and seems to sum these CGP boys up.
They are toast. Bring in a the new team... that can get the job done for goodness sake.
Plenty out there more experienced and capable of getting job done.
No real volume or SP movement since the RNS...quite encouraging really...
Clare has 1,143,137 shares
Liam has 392,156
Not much to lose...not much to sell...
They are just the sacrificial lambs to appease us irate shareholders.... its an attempt to ensure shareholders see heads roll, but keep Scott..
Im happy they have gone...
Exactly Add smacks of a trade off
NM last Aussie standing not that it matters if they get the right price in the end
Fort, for the first time in months I agree with something you've said. I reckon the company has been sounding out major shareholders who wanted to remove Twigs and SC agreed to do so in return for ongoing support for him. Clare is irrelevant.
As to your point about GGP interests controlling the company, it's hardly news, is it? As I said the other day, this is, to all intents and purposes, a Canadian company.
Https://www.linkedin.com/in/steve-van-barneveld-b15a8616/
nondescript...just a placeholder until takeover?
I reckon they jumped before they got voted off...
Leaves only Maria and Dan as INDEPENDENT NEDs...(Nick is not Independent)
"At least half the members of the board, excluding the chairman, should be independent non-executive directors."
"The UK Corporate Governance Code recommends that the listed public limited companies within the FTSE 350 should have at least half the board, excluding the chair, as NEDs; companies outside the FTSE 350 should have at least two NEDs."
So Board is now Scott (ED), Maria (INED), Dan (INED), Steve (INED) and Nick...I would expect Maria to be re-elected; Dan and Nick may not; even Steve may not...
Hmmm
Guys, Willem seem pretty certain that solg is up for sale, really up for sale.
I was wondering how that strongly stated revelation sits with Quady given that neither production nor a JV were mentioned by Willem?
So much for 'stability' DBW... looks like the CGP boys can't handle anyone else around apart from themselves.
They've effectively taken SOLG over. 100% control yet last year they had minor 15% ENSA stake and 6% SOLG control.
Funny old game innit.
Highfly that was today's FCA short report...
Notice of AGM and Circular to be sent to shareholders next week.
Au revoir Twigger, I'm afraid I won't miss you.
Adikt. What's your take on the director changes.
Something positive I expect.
Me, I think the wheels are falling off.
Eloro. What does irwin think
Is this some kind of plan pre agm that they sacrifice two directors in the hope that shareholders then have little choice but to retain the rest??
Mmm... So why would you acquire 750k share Mr Twigger and then step aside?
I wonder whether his rebuff to BHP has come back to haunt him. Scott.... did you sacrific Twigger to please BHP and save your own bacon??
Not going to work sunshine... you are toast unless you deliver something 'major' pre agm.
Looks like it. Mather not letting go though
Jumped before pushed ?
Twigger and Clare gone
HH, there’s a clown from the past. The guy who tried to tell someone who designed and built a financial spreadbetting platform how they work!
Agreed - quite a few shorters notifications don't get made when they dropp through thresholds. Much depends on where they are based and who regualtes them.
I think you can question the FCA data with them and they can seek confirmation. They have a duty to maintain clear and transparent markets.
I remember a few years back on Premier Oil ... no short positions declared until something got forced or flagged up and then hey presto turned out a firm had a 20% short on the business!!! Unbelieveable!
HH commented those reports are always well out of date. He said one of his closed shorts didn't get updated for months. It must be closed by now RK as they'd be living a very dangerous game otherwise with the AGM due.
When will XIB close their short...15 million shares...
Todays FCA short positions report:
XIB Asset Management Inc SOLGOLD PLC GB00B0WD0R35 0.50
This should be around the 25p mark now just on basic numbers and metrics! Load up if you can.
GLA
DK