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I've resorted to spamming their inbox, what else can we do
Still no response from the BOD? I might give them a call today.
I am hoping I will be able to transfer my complete holding in TOM at a massive loss into my ISA.
The loss will be carried forward over the years to be offset against the next big climber so no real issue
Vauch, I haven't checked advfn yet this morning (or for the last few days) but if it hasn't been suggested already there, rmart has a pretty decent view of how much stock is held by BB users.
Within my family, I think we hold about 1.5 - 2% and would support calling an EGM.
In general though, I know I've been hoping for news soon, but now I think I'd prefer a delay until this whole Covid-19 issue is resolved. The last thing I'd want is to get a massively positive RNS in the middle of a major global sell off and for the market to barely even notice.
My 1% is in for that
If we are going to bombard Tomco email I suggest we add that we are in the proses of getting private holders together to hit the 10% needed to call a egm
Just sent a quick email to info @ tomcoenergy.com asking for them to update shareholders, maybe if enough of us do it they'll eventually reply to someone
As you know Torre, I have never supported the Chairman, he is as much use as a dildo with no batteries.
iv'e given up asking anything. IMO the board needs to change. The communication issue is an ongoing situation, they never learn. Just ongoing promises to be more proactive with shareholders but they never do it.
These new guys need to make some big changes. I once supported 2 of the board but no more.
Next time you contact them, can you also ask if the BOD are currently legally able to buy shares?
(If the answer is no, that suggests they actually are sitting on information that would materially impact the share price if released)
no
Did Tomco reply to the email sent yesterday?
Very good letter Torresguas. I sense disagreements amongst the addressees on the path forward as cause for a delay on an update. So much good stuff to look forward to. The Field Test in 6-8 weeks time plus the MOU with VALKOR to produce oil from the tar sands on TOM’s leases. My suspicions lie in one direction, however, when it is all sorted out, it should be a stonking rns.
I have sent this in as getting a little fed up of the silence.
Dear Sirs (Andrew Jones, John Potter, Alexander Benger, Malcolm Groat, Stephen West),
This is an open email to all of you. I would like it to be seen by all and I would appreciate appreciate your comments.
On the 4th December 2019 the company raised funds at a highly discounted price in order to do the following.
1. A Resources Report on oil/tar sands
2. An Engineering Study.
3. Design Revisions for the Turboshale system.
4. Agree the scope of a study to determine the location of oil/tar sands.
It is now almost 3 months since this announcement was made and shareholders have not had a single update on ANY of the 4 items mentioned.
That is 3 months of cash burn from the raised funds, 3 months of salaries for the directors and NED's without a single word to shareholders (aside from yet another salary to be paid to an additional NED).
Is it the case that the BOD are more interested in boardroom issues and personal salaries whilst the company cash drains away rather than getting on with progress in the actual business?
As for the new large shareholders. What was the purpose of them buying in? Was it to try and aquire the company on the cheap with little if anything for the current holders?
After over 10 years of being a tomco shareholder I really thought that under Andrew Jones and with John Potter on board that we were finally going to see some solid progress for long term shareholders but sadly once again seems like just another opportunity scuppered with substantial cash burn along the way.
It really is about time shareholders were given a full update.
I own 1% of the company shares in issue and am in constant contact with a number of other large shareholders who really want to be positive but you make it really difficult to be so.
I look forward to your comments and reasons why you feel shareholders should remain supportive of the company.
Kind Regards