AB's Chairman's letter 25th July 202221 Mar 2024 11:37
This is probably the most damning admission of repeated and sustained failure.
When Bell wrote this the SP was 0.55p (not 0.07p) and the shares in issue was 1.26bn (not 3.55bn) .
Its truely shocking and still it continues
"We expect an arbitral award in the Democratic Republic of Congo, and the listing of Elephant
Oil Corporation, where we are shareholders, within a short period. Prudence however dictates
that as we await inflows potentially large in relation to the size of the Company, we do not
become so optimistic as to timing that we deplete too far the liquidity available in the short term.
Some large shareholders have supported us in our desire not to place shares in a market that is
not receptive and at prices we think too low. We are grateful to them for their confidence in us,
in accepting an instrument only exercisable at a price above the current market price of our
shares"
Its absolutely shameless stuff made worse by Helpful insider Lundy saying RRR is in a good place !!!!
No its not in a good place it was in a far better place in July 22 for ordinary Jo shareholders not the privilidged few.