Member Info for BertieMC

I agree jimmy.

I'm slightly bemused by that tweet, but not reading too much into it - onwards and upwards.

Disappointing news on the face of it today, but they're using the money to add value and potentially improve our equity retention so not so bad.

Ha, I didn't want to say it. Even mystic meg gets it wrong sometimes...

Yes wouldn't be surprised to see more big delayed buys later on.

Reported volume not massive, something going on in the background?

The market is liking the look of the cake today.

Lurker your messages get deleted because you keep mentioning other bulletin boards.

Yes nice to see it pushing back into the 1.3's

I'd have to agree, very wary of any Chinese involvement now - I should have learned from Fortune Oil before I threw money away here. (Different circumstances there but another rip off!)

Well done to everyone who’s made a correct prediction in the past and hard luck to everyone who’s got it wrong - we all have our winners and losers in this game! After all we’re all trying to predict a random walk.
I’m sure most of us would agree this weeks highs will be beaten going forward. The board have recently put enough skin into this one to give me plenty of confidence in that.

Shareholders % held

Hudson Global Group Limited 51.58
SVS Nominees 8.72
Vidacos Nominees 4.02
Interactive Investor Services Nominees 3.64
HSDL Nominees 3.04
The Bank Of New York (Nominees) 3.02
Hargreaves Lansdown (Nominees) 2.99
HSBC Nominees 2.42
Barclays Direct Investing Nominees 2.39
Pershing Nominees 1.97
Other 16.21

Don't know the answer to answer question 1.

Good post, thank you.

I wonder what all the port nonsense was about - trying to make it look like they wanted to continue perhaps?

That's all I can think given that the board were appointed by Hudson themselves once they had over 50% of the shares!

I still wonder about the legality of a majority shareholder forcing such a situation but I don't expect they will be pursued even if it was illegal.

I've tried to make some sense out of some of the stuff Kabisko has posted over the last few weeks and I am thinking the situation is possibly as follows:

The Hudson loans to Bellzone were secured against the mineral rights (licences).

Hudson had to wait for the Kalia Mining Convention to be ratified by the National Assembly, which happened September 2018. (Ironically, reported as good news for Bellzone.)

Once this happened all they needed to do was force Bellzone to default on the loans (by blocking any raise of equity and not allowing further drawdowns on the loan facility) and hey presto - Hudson now own the mineral rights / licenses.

I'm not certain on this but seems a feasible explanation?

I don't think they'd have engaged liquidators if there was any chance - not cheap.

I think the level of corruption in guinea has got the better of us.

How can a majority shareholder legally force a company into insolvency by blocking a placing at the detriment of all the other shareholders? Seems too corrupt even for AIM!

Hudson or whoever is pulling their strings will get the licences etc I would imagine.

Always a big gamble, not how I'd hoped it was going to play out obviously.