Next actions.13 Jan 2015 10:59
Maybe there is a god in heaven as the administrator is based in Milton Keynes, do we know anybody who lives there?? ;+) So access to them for meetings will be easier for us than it will be for Jones and co.
Regarding them attempting to sell the mine as a going concern, this is usual for assets to be sold, we now have to prove that MML is wholly owned by BHR limited, we have RNS's which clearly state this is the case. So whilst Vitol have first draw on the asset for their $10m any funds left will be dispersed between shareholders and creditors.
We will seek a meeting with the administrator as soon as possible to clarify ownership of the mine.
We have also instigated legal recourse and are now assessing costs of a class action, we will come back once we know something as to how we fund the class action or whether somebody will take it on a no win no fee basis.
We will endeavour to call an EGM with the administrators so everybody has the chance to attend and put questions.
Other things are also happening with regards to; the last company accounts, attempted vote rigging etc, whilst RK and JFJ think they will not have to answer for their actions, they will. If we proceed with a class action the action will be against them / their auditors personally, the nomads will most likely come under scrutiny too.
The action group have a meeting scheduled for 2.30pm today following which we will update everybody on the next steps. Andy.