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The current GM vote for open 5mill plus cash raise by sefton is definitely not the norm..
The norm is the norm.. company agrees cash raise with third party, tgen announces to market the terms etc, and gets shareholder approval for any amount above existing annual raising capacity facilities..
This is NOT the norm with oilers..
"The Company is therefore seeking a general authority to allow the directors to allot equity or other securities for cash up to an aggregate nominal amount of £5,221,000without first offering them to existing shareholders. This authority is intended to provide the directors the flexibility to raise further capital in the most expedient manner possible, should the need or opportunity arise."
"If granted, the authority will last for only six months from the date of the General Meeting, The Company will provide further updates in due course."
"The directors consider that the resolutions set out in the Notice are in the best interests of the Company and its shareholders as a whole. The directors who hold shares will be voting in favour of all of the resolutions, and unanimously recommend that you do so as well."
Question...
How many shares do the directors own ?
Any at all ??
Spike.. thanks for yet another post that shirks the real issue here.
Sefton is asking for something that i have not seen other oilers ask for..
An open 5mill cash raise over the next 6 mnths on unkown terms (versus current 12mill marketcap)..
To date.. abysmal performance..
To date.. nothing on current r1r2 and mengo drill.. nothing..
To date.. r1r2 production.. no progress since ipo..
We all know the story since ipo..
Please tell me,
is it not better that sefton first provides details of the proposed placing (when the time is right) so that shareholders then approve it ??
What has sefton done, so that shareholders give him a 6mnth window to dilute by 40% or more, when successful oilers dont get nor even ask for this ???
Yes.. who is being economical with the truth ?
And we are in the last trading day before sefton gets his vote for a 5mill cash raise based on unknown terms...
Whats with the silence ??
Where are the results from the 101 and 102 r1r2 workovers ??
Which were done long long long ago..
Let alone results from r1r2 and mengo in this hole..
Is it not better that when sefton decides to raise 5mill cash, that he comes to shareholders for approval with the known terms ?
The way virtually all other oilers do it ???
MickR,
Sefton has asked shareholders to approve an open cash raise for 5mill plus..
Is this something other oilers do often ?
Do they not come to market, with the placement terms agreed first, then ask shareholders for approval for the amounts above the annual facility etc ??
I see the snide remarks towards me keep coming.
It is obvious that certain posters have appeared on this forum just before seftons latest rounds of sandabel fiasco and now his upcoming death spiral..
Why would an existing aaog shareholder give sefton the right to raise 5mill plus cash at unkown terms. When his performance to date has been abysmal..
I havent even seen an oiler which is performing really well, ask their shareholders for such an open chequebook...
Sefton has some sort of credibility that chairman from successful oilers dont have ??
I agree with some of you..
Please.. please.. do some research..
I hold aaog for the prospect of the 3 targets..
Giving sefton the ability to raise 5mill plus cash at unkown terms is stupid, unless he RNSs r1r2 and mengo results beforehand
Hardy. . This is aaog.. not just another aim company..
Thankyou :-)
Spike.. yes i do hold..
James.. i am ruining the board ?
Really ?
So whats sefton doing ? I mean.. with aaog shareholder funds ,
Any progress??
Babelfish66,
What assumptions have i made ?
I see none..
Sefton performance so far = abysmal..
Is this a bad assumption?
Monday vote to give him right to raise 5mill+ cash.
So when are the drill results you mention, supposed to be reported?
Today? Monday morning ?
I doubt that many or any of the posters on this aaog thread, actually own any shares in the company :-(
The repetitiveness is astounding..
I brought up a legitimate concern about aaog, as an aaog shareholder.
Yet posters are saying it irritates them..
Which part is irritating ?
My posts? Or seftons performance so far ?
Sandypaul,
Which part is irritating you and childish ?
Is it the fact that Sefton looks for a yes vote on Monday so that he can raise 5mill + more cash, after what looks to be an abysmal performance from him..
(Granted.. he still has until monday morning to post an RNS confirming inline expectations for r1r2 and mengo)
Do you find this irritating ?
I do..
Hardy,
You made a great point..
What was it again ?
Was it the same as Strongmans ??
Should shareholders vote Yes on monday to give sefton the right to raise a further 5mill + cash? Based on his performance so far ?
Yes we are nearly there... from Monday the "sefton death spiral" ..
If it happens, i hope you are all happy with yourselves...
Strongman,
Thankyou for your stern and assertive words..
It does nothing to hide your earlier manipulative postings..
I must ask.. are you actually a shareholder of aaog ??
Based on your murmurings today, it would be very easy for everyone to conclude that you are not...
Strongman..
I love the manipulative post you just posted..
You ridiculed me because i stated that based on current situation, i hoempe sefton gets a No vote on Monday for future cash raisings..
At no point in time, nor within any post, did i say anything about others to go gung ho in the GM..
This part is what your own imagination has made up Strongman .
I do believe that today you are both discrediting and rudiculing yourself, unfortunately :-(
Strongman,
Yes.. you are getting there.. it is nice to see :-)
As opposed to unverified emails,texts,tweets,and whatever...
I do understand there is a proxy system for voting..
It was just kindof surprising for such posters to be ridiculing me about whether i could still cast a vote or not..
It is clear that i can :-)))
Thankyou Strongman..
So genuine holders can actually still cast their votes at the General Meeting :-)
Strongman..
Can genuine shareholders cast votes at the General Meeting on Monday ?
How does this tie in with what you are stating about the voting process ??
I only ask you cos you brought up the topic of voting process :-)
Strongman,
You are now telling me to do my own research in voting process.. but it was you who brought it up.. you even use this as reason to ridicule me..
But you fail to give relevant detail :-(
It is all there for all to read :-)