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The directors should be allowed to get on with their stated intentions as in RNS dated 31st May 2023
"Trouble at More Acquisitions AGM?
The word on the street is that things could kick off at tomorrow's annual meeting for More Acquisitions, set up to hunt for and buy a firm focusing on the green transition.
Tensions have been high between a few shareholders and the board ever since a deal to buy Wiltshire-based Megasteel collapsed.
While attention will be on the annual meeting, some investors want an extraordinary, one-off get-together to vote on unseating directors.
There are claims that a notice to requisition a meeting was submitted – but the firm says it has not received a request meeting the basic requirements for it to be processed."
https://www.dailymail.co.uk/money/investing/article-12278369/CITY-WHISPERS-Pressure-Rolls-Royce-bull-run-runs-steam.html
Thanks for sharing that piece, Tony.
The Mail on Sunday has a huge circulation, so today's piece will bring TMOR onto a lot more radar screens.
They say that no publicity is bad publicity, and it's not often that micro cap shells receive this sort of exposure.
10th Jul 2023 2:56 pm RNS Result of AGM
"More Acquisitions Plc is pleased to announce that all resolutions were duly passed at its Annual General Meeting held today.
All resolutions were put to the meeting and approved on a poll and the results are detailed below. ...
The total number of shares on the register at 10:30 am on 6 July 2023, being those eligible to be voted on at the AGM, was 125,000,100 . ..."
https://www.lse.co.uk/rns/TMOR/result-of-agm-85ziu36rxgol5e2.html
So Charles Goodfellow and Roderick McIllree have been re-elected as the directors of TMOR, albeit with the votes of under half of the 125,000,100 shares in issue.
TMOR has moved up 4.76% to 0.55p, from 0.525p.
Shareholders probably didn't like the idea of leaving the company without directors, even for a temporary period.
In an EGM with credible alternative director(s), the outcome may be different.
Which is perhaps really why TMOR has refused to process this EGM request.
The pressure will now be on for them to unveil an attractive replacement RTO for Megasteel pronto, or to be replaced by a director or directors who can.
Or maybe "our cowboy" just lost because he is a clown and no one wants him in charge?
Hilarious!
Watching this circus is like a good season of East Enders. great entertainment in an otherwise s£!te market
So base-jumper you're happy with what's been going on at the company and how the directors conducted themselves during the latter stages of the Megasteel negotiations when, within a month, we were asked to accept that the value of our shares would reduce by 75%. BOD couldn't bring it home so why not have new directors who can.
Oh and by the way, the Cowboy is not in charge but simply another shareholder, albeit a relatively large and vocal one. He is not putting himself up for office , merely putting forward names of suitably qualified individuals who I hope will be voted in at the forthcoming EGM
Only a fool (apart from the directors) would have been happy, Barry5.
For RM to attempt to get a £100K. bonus, for selling TMOR to Megasteel for over £100K. less than TMOR's cash, was clearly very self-serving, and not in the interests of TMOR shareholders as a whole.
Now at just 0.55p TMOR is trading at below its current level of cash, which is very unusual for a shell.
And if an exciting new 'shellmeister' becomes involved in an undervalued shell as a director &/or shareholder, this typically results in a good rerating upwards.
The shell MCI changed two of its three directors in March.
And then earlier this month it unveiled an attractive potential RTO deal, combined with a completed placing at nearly double its pre-existing s.p.
So if TMOR's directors can be replaced by people who could very potentially do better (& at the moment the bar is set pretty low), then that should surely make sense to all sensible, independent shareholders.
7th Jul 2023 4:12 pm PRN Potential acquisition of near-term Lithium production asset
" ... Medcaw has today raised gross proceeds of £400,000 at 8p per share ("New Ordinary Shares") through an equity placement to various high net worth and institutional investors introduced by GIS Global Investment Strategy ("GIS") ("Placement"). The Company has therefore allotted and issued a total of 5,000,000 new Ordinary Shares in the Company. ..."
https://www.lse.co.uk/rns/MCI/potential-acquisition-of-near-term-lithium-production-asset-3abtddio02ebwe2.html
Unfortunately the directors are hell bent on staying on. They couldn't give a toss about retail investors & are pathological with the truth.