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The difference being that ITS have provisionally appointed 2 new directors who look to be ambitious and successful and who are both based in the UK. Also, the old board are standing down. DISH have appointed a relatively unknown Chinese woman, based in China, and the 2 existing board members are still here, with Aidan Bishop still trying to run the company from the Phillippines - look how that didn't work last time.

52,500,000 shares in issue and 34,600,000 traded already by 10.00am. You don't see that very often.

I would imagine that subject to the winding-up order being dismissed and the official appointment of these 2 new directors that they will buy in themselves. They will get quite a large percentage of the company for not a lot of money and that will certainly increase the confidence in them pulling of a sizeable RTO.

That link was for his appointment.And today's RNS adds that he successfully saw it through.

As Chief Executive Officer of Allwyn, David recently led the company in its successful bid to operate the UK Fourth National Lottery Licence and the subsequent buyout of incumbent operator Camelot following an extensive bidding process.

Considering that the same directors who applied for the winding-up order are the same people who are requesting for it to be withdrawn/dismissed and that they have a valid reason for this change of mind then this shouldn't be a problem. More just a formality.

Buyers still piling in at mid-0.70's

Quick tree shake and now back up again. Probably 1p today incoming.........

"David Craven and Jean-Paul Rohan (the "Proposed Directors") will be appointed to the Board as Directors with effect from the Withdrawal. The Proposed Directors have agreed to take up their positions for annual remuneration of £1 each until further notice."

The £1 per annum salary seems to be the important bit here. They are here for the RTO and nothing else.

Better management than Dish. These guys are successful at what they do.

David Craven

David is an experienced board level executive who has been involved in the expansion and successful exits of many recognised groups.

He has significant and broad commercial experience, having held senior executive roles with News Corporation, UPC Media, BT, Sky and Allwyn. David was joint MD of the Tote, the Government statutory betting monopoly for six years, driving its privatisation and has held senior executive roles at UK Betting Plc and Wembley Plc. David was a co-founder of broadband and interactive TV media group UPC Chello which was floated in 1999 at a valuation of c.$1 billion.

David managed a portfolio of investments for the Tavistock Group delivering significant returns through his Chairmanship of Turf TV and asset-backed lender, the Ultimate Finance Group. He was appointed CEO of DCD Media Plc in November 2012 and Executive Chairman in January 2013 and successfully sold the business in 2021. As Chief Executive Officer of Allwyn, David recently led the company in its successful bid to operate the UK Fourth National Lottery Licence and the subsequent buyout of incumbent operator Camelot following an extensive bidding process.

Jean-Paul Rohan

Jean-Paul Rohan is a highly experienced commercial and business development specialist, with hands-on executive experience of building businesses in sports, media, games, wireless, broadband and digital TV markets on a European and global basis.

He specialises in the commercial exploitation of brands across digital and real-world mediums including games, internet, mobile platforms and digital television, focusing on e-commerce and digital retailing.

As an independent consultant, Jean-Paul has helped numerous companies to commercialise and deliver their commerce services to mobile devices, PCs and interactive TV, working closely with content owners to exploit their intellectual property right and drive new revenues from end users.

Jean-Paul has held senior positions and been a founder of a number of successful businesses including NetChannel, the first company in the UK to deliver internet access and interactive services to TV sets via set top boxes, and UPC Chello, a broadband and interactive TV media group. He was previously a non-executive Director of AIM listed DCD Media Plc.

The stupid CEO here needs to raise the funds to get past this latest hiccup. Most CEO's, when shareholders vote against the issue of more shares, take out a Loan Note. GR needs to do the same - and preferably for upwards of £25/30M.

The m/cap here is very high. They do not have a funding issue. They can even take out a £30M/£40M Loan Note rather than wimping on about funding - and repay it from producion revenue.

The share price might have fallen from 0.5p to 0.3p with 40% dilution following a big raise instead of falling out of sheer desperation.

Exactly. Raise £50M now and then sell off 50% to get value back.

So it has taken a bit longer to get into production and it has cost more than was forecast. This happens all the time. PREM still have the asset and the demand for lithium isn't likely to fall in the near future. The price of lithium may even increase hugely as happened a year or two ago.

Raise the funds needed, even tens of millions, pay off Canmax and start afresh. Why not. Yes there will be dilution but at least they are still afloat.

S

Of course PREM need authority to issue more shares. With a m/cap of over £100M (is that correct??) they could raise sufficient funds to pay Canmax back in one go and then find a new offtake agreement and still own 100% of the company.

30% dilution is a much better option than going bust, as some on here are saying might happen.

The problem with the market is when the m/cap gets so low that they cannot raise sufficient funds to stay in business.

This is very, very frustrating and the shareholders of all 3 companies involved in this GSA deserve better, and certainly to be given an explanation of why the agreement wasn't announced within the previously arranged timescale of "in Q2" and when it is now due.

I don't think there is a problem here, at least not with the GSA, which is between 2 neighbouring countries and does not involve either China or Africa (two places where timelines can be chucked out of the window as agreements are always late), and involving a commodity that is very much in demand in Asia (where, as the recent presentation pointed out, gas is seen as a transition commodity between the demise of use of coal and oil and the growth of renewable energies).

Conrad Asia, as the operating partner, are responsible for communications and certainly should let the shareholders of the two companies owning the remaining 23.5% of the prospect know what is going on during these important times.

It is a poor show.

These warrants appear to have been issued at the IPO. I have just checked and it doesn't look like any warrants have been issued at either of the 2 placings since the IPO.

The problem is that Millholland sees the Bondholders as his saviours. Before the last recent issue he even told the shareholders that without the new bonds the company could go into administration.

Now the share price has fallen so low that there is nothing else that could be done - ie the SP is too low to do a placing - so the conversions, misery and falling share price will continue unabated.

AJMHO

Yes, we can all look forward to the day that it is announced that the very last bond has been converted into shares. The share price may even rise on the day.

However, that day is still a long way off. As WC once said " We have before us an ordeal of the most grievous kind. We have before us many, many long months of struggle and of suffering."

Yes, that is obvious but when will it end in terms of the share price?? 1p or 0.1p??? There are still a heck of a lot of bonds to be converted to shares.

Well, this way at least the bondholders won't end up owning the company at the expense of the shareholders. Maybe the shareholders should wonder why the bondholders have made that decision??