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Just read the RNS’s and largely ignore these boards. There is so much deceit on here and x and none of them are long or short just don’t want to see a success story outside of their failed portfolios
Seeing all this fud just makes me more positive than ever about this share. Squeaky bum time?
So what happens if none of this news materialises? I take it you don’t have too much money tied up in UPL as you seem to think people don’t need to be concerned . Far from nailed on .
Hahaha some scared shorts and traders here trying to spread fear in a suspended share :D !
PSC may well take until June.........what about Volumetrics? OR JV?
What will be will be!
I met Santa in the city this morning. I asked him a few questions about how Christmas works. He told me to fcuk off. Not what I expected at all.
I met in the city this morning with an expert in brewing. I'm off for a pint. Have a good weekend!
PSC goes through until June on the presentation and it could carry over.
That’s standard being able to prove you’re an investor . I post on here as have a load of money cleared from my trading account, literally says 00 least has amount of shares and book cost. Money locked away til when? Who knows the value of peoples holdings if and when comes out of suspension.
Why wouldn’t the company pull out all the stops since Dec 31 given May is the last month scheduled for PSC deliberations. It’s hardly confidence giving for some time now . The quoted final stages have been months . Let’s just hope this fiasco comes good ASAP fingers double crossed
Arthur,your learned mate could've told you that this morning since he knows about all these things.
Arthur- what response did the board have to your latest questions? Don’t be shy drop them a line
After that last very unsuccessful attempt to spread fear and doubt to investors on this the Board, I suspect the AQ handle is “dead in the water”. Probably time for a new loyal but extremely worried poster to appear - perhaps a woman this time in view of AQs concerns re gender balance?
Here we go again with ArthurQ throwing stuffs out there to what end no one knows .. 🧐
Always spreading all sorts !!
Good luck genuine holders..
Thank your for your clarification regarding members not being able to gain entry to the AGM as they could not prove their shareholding
I've also met Dixon Wong a couple of times over the years, our iNED.
Note we are still living rent free in a lot of heads even under suspension.
Other folk's shares must be doing really amazing that they have time to check in on UPL every 5 minutes.....
Was also at the AGM along with the other 12 or so investors.
Been to 5 out of the last 7 AGM's as it happens, it's always a good day....and night.
Arthur,
I don't know who your contact was, but I can assure you that I was in the whole of the AGM on 29th December. Nothing was hidden from share-holders.
The reason that most were excluded from the formalities at the beginning of the meeting is because they did not have evidence of their holding from their brokers. I did however.
Making things up like you have and misleading folks on this board is most disingenuous.
What will be will be!
Id say we get good news in coming week or two before audit update but thats just me!
I also work in the city in the same sector - all guesswork!
Sounds like your learned friend likes to indulge in speculation just as much as the rest of us. But as the answers will now only merge with news and the completion of the audit, we might as well wait and see what actually happens.
I met in the city this morning with an expert in corporate governance this morning, who also happens to be a holder here.
A number of statements he made were most interesting.
Was the delayed audit linked to the fact that the Annual General Meeting of the company was held in camera and members were not admitted to the meeting ?
Could there have been an elephant in the room that the board of Directors did not want members of the company to see ?
Is there a reason that there is not an independent non executive director on the board ? Do the board not want any oversight of their governance?
In the year of 2024 this listed company has a male only board of directors. Where is the gender balance ?
My learned friend is himself a chartered accountant and an auditor and he is somewhat suspicious of the delay to complete the audit as he points out there have been four months since the year end while the number of transactions by the company over the accounting period would not be vast in quantity. The income would have been very limited in quantity through funding while payroll, contractor payments, travel, listing costs and communication costs would account for the majority of outgoings.
A competent financial controller would make such an audit most straightforward for an auditor by presenting very compact, transparent and easily auditable accounts.
Much appreciated Stock 👍
Stuartv,
I think you should also look at this bit from the same RNS:
"Joint Venture/Farm-in Agreements: Significant progress in discussions with potential partners of strategic interest regarding potential Joint Venture/Farm-in Agreements. Letters of Intent have been signed; and discussions with additional interested parties are ongoing."
On your question "Would anyone know when such a period of exclusivity would arise", that would be once the company have narrowed down the "potential partners of strategic interest" to the last one or two preferred bidders, at that point every other bidder has been rejected for one reason or another and they can talk exclusively to the one or two companies depending on how many they want to allow to farm in.
In the RNS dated April UPL referenced the following:-
As the company continues to receive unsolicited Joint Venture/Farm-In approaches, the Finance & Investment Committee will continue to review interest as appropriate, until such time as a period of exclusivity is entered.
Would anyone know when such a period of exclusivity would arise. Wiser owls than me on this board but my guess would be after the PSC is awarded. Any thoughts would be gratefully received.
"Auditors were just doing their job." or not doing their job it seems, otherwise they'd have got the Audit finished on time!
Can't blame them though, as the sector is so short staffed they are probably all doing 12 hour days and weekends, and still not getting through the backlog.
Agree Auditors were just doing their job.
All conjecture. Not saying it was tactical but as UPL would have been fully aware of the missed audit deadline and subsequent de-list there was clearly scope in the timing of the raise.