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I take your point but I had a quick look and the requirement was to submit id's with questions so it would be reasonable that only those people would get responses before the meeting. Essentially to put them in the same position as they would have been if they had been able to attend. It only said a response would be made before the meeting not that they would be published to all.
It's a moot point now, but if they didn't send them to those registered that then clearly it's a poor show. I expect to see the Q&A on the website as soon as possible as no doubt you do too.
That's not good enough Rich. The Q&A was set up specifically because shareholders have not had the opportunity to question the board personally due supposedly to the pandemic.
They promised to publish the results prior to the meeting and nowhere did it say, only to those who registered. Besides they haven't even done that.
Looks like they were only going to be sent to those who registered. Makes sense not to publish them generally before the meeting.
Perhaps the didn't like our line questioning, why we small shareholders have been continually royally shafted??
Tried ringing company twice and phone is switched off.
Guess they are all down the pub celebrating our latest shafting
So typical of successive boards ofthis company and so sad.
Nope, I looked on the website this morning to see if I could find them, they've hidden them very well if they have been published......
Anyone seen the Q AND As. Should have been published prior to meeting.
and we're yet to receive any further bad news yet, does not look good!
Delayed interims, lack of buying so obviously no leaks of good news coming, yup this could be heading the same way as MTL. My bet is we will see sales of Vog at sub 2p.
I do hope to be wrong, but the company rarely fails to disappoint.
MTL have had a number of price monitoring extensions this last day or so and yesterday had a spike in their SP.
Guess who else has had a number of PMEs in the last day or so?
This was the important bit:
In 2014, Actis acquired a 56% stake in Cameroon’s national electricity integrated utility, Eneo.
The other 44% is owned by the Cameroon government.
[Good to see you back, RF. Hope all goes well.]
It seems that VOG could lobby the British Government to get ENEO to pay up? Particularly now that Eneo has been refinanced recently.
https://www.act.is/about-actis/actis-at-a-glance/
https://www.act.is/about-actis/our-portfolio/eneo/
(See Eneo Case Study - bottom right pdf)
https://www.cdcgroup.com/en/our-impact/investment/actis-energy-cameroon-holdings-eneo/
'Actis is a leading investor in growth markets across Africa, Asia and Latin America. Its three separate investment groups focus on energy and infrastructure; real estate; and general sectors, including consumer, education, financial services, healthcare, industrial, manufacturing, and retail.
Actis was formed in 2004 following a restructuring of CDC designed to bring more equity capital into developing countries and the two organisations have a shared history.'
CDC investment 2014 $10.1m
https://www.cdcgroup.com/en/about/our-history/page/1/
'Our vision is to become the most developmental DFI: tackling market failures that hold back development such as access to medicines, boosting power generation and transmission....'
https://www.cdcgroup.com/en/news-insight/news/cdc-group-to-invest-2-billion-in-african-businesses-over-the-next-two-years/?fl=true
'...CDC Group is the world’s first impact investor with over 70 years of experience of successfully supporting the sustainable, long-term growth of businesses in Africa and South Asia.
CDC is a key advocate for the adoption of renewable energy in Africa and South Africa in the fight against climate change and a UK champion of the UN’s Sustainable Development Goals – the global blueprint to achieve a better and more sustainable future for us all.
The company has investments in over 1,200 businesses in emerging economies and a total portfolio value of £5.8bn. This year CDC will invest over $1.5bn in companies in Africa and Asia with a focus on fighting climate change, empowering women and creating new jobs and opportunities for millions of people.
CDC is funded by the UK government...'
Only 3 days to go before the big Q&A.
Did you all get your questions in?
3CB- Yes you echo my own sentiments in regard to the delayed interims, this generally is a negative sign in most cases. Yes 7 months is more than enough time, not only to come up with a strategic plan, but to actually start implementing it.
The simple fact is the previous poor excuse for management put most of their eggs in the eneo basket, instead proactively trying to get more customers on board. If it's so difficult to actually sign up new paying customers, in order to run the operation so it produces a profit at the end of the year, maybe they simply do not have a viable commercial business. Even if we get part or all of the monies owed from eneo, it may provide a temporary small spike in the SP to maybe 5-7p, but it won't materially change a great deal, apart from providing maybe extra year or so before the money again runs out. Unless there is a signed guaranteed deal on the table, no business will provide further funding to this outfit, period!
Either YF Finance were conned into investing £13.5m 18 odd months ago, as the whole business is now only worth about £6m, or they are playing the long game when us small shareholders will no longer be part of the equation. It seems a little odd to me that a private finance firm would invest that amount of money in a company with declining revenues. Did they put Mickey Mouse on a retainer to undertake the due diligence and risk analysis for them, as there were already issues with eneo paying on time?
I feel only a best case scenario will be enough to turn this around, and LTH's who have averages below 20p may be able to recoup a portion of their massive current percentage losses.
Unfortunately hope is all we have now, as we know from bitter experience here, that we are proper f*&ked based on expectation.
Best of luck all, I feel we're going to need it!
That is a difficult one Danno. I have been both hoping for and expecting a strategic review yet we are still waiting, 7 months after Roy Kelly took the helm.
I suspect most would not wish to provide a list of their expectations as opposed to their hopes, as the list would probably be negative.
I suppose people could come at it from a perspective of what they would expect to see for the company to be viable and indeed to survive.
One thing all LTHs will know from experience is that the longer we go without an announcement, the worse it is when we finally get one. And it is not unknown for the negative announcement to refer to happenings from some while previous, for example, eneo non-payment
Would anyone like to share what they are expecting, rather than hoping for?
Where u bin Smoke?
bigsmoke yes my first "investment" in VOG was in 2010, then added in 2011,2012 & 2015. All I've had from the company in that time has been bs, certainly one of my worst decisions. Good to be reminded that others have been even more unfortunate, falling for what appeared at the time to be a very convincing story. Hope you're not one of those who have fared worse than me, and if you have, then like me you've been able to make good with other shares.
3card - i recall krustysmegma used to post years ago. i note the "ouchyness" of the holding. still a fraction of what some have lost.
very sorry to hear that. wishing you the best.
we under 2p yet?
Yes interesting article, but it's almost a year out of date now and means nothing. !!!!!!!!
It was just another good idea that went nowhere like all the rest.
Interesting article posted on Advfn Blvn:
https://anglophonecrisis.org/2020/04/04/from-Russia-with-gas/
Also: https://www.businessincameroon.com/economy/0702-9948-russian-lukoil-in-cameroon-to-negotiate-the-reconstruction-of-sonara
Yes, this is my only remaining investment in Africa. Not sure how they will ever attract the funding they need to improve lives of people living there (even before COVID) when corruption is endemic across the continent. Very sad situation.