Solo Oil EGM
Agenda so far, please comment / add too as soon as possible
1. Until our Tanzanian asset / assets are monetised ( minimum 50% ) the Board will not invest in any new projects or take any further stake in existing projects without shareholders approval.
2. The Board will cease to take a salary until the SP has recovered to an agreed level for an agreed time.
3. The Board will formally commit to either paying out a dividend on the sale of our Tanzanian asset(s), percent to be agreed or undertake a share buy back scheme depending on which was more beneficial to shareholders.
4. Fundraising for existing projects will via open offer with an agreed preresquisite notice period.
Hi could the following email me at soloegm123 @ gmail.com
Confirming their full name and holdings
Thanks
Yosty100. 1,001,075
John2015 370,000
Oilriches 600,000
DickieT 396,716
szynd. 2,000,000
Morning, could the following send me a quick e mail confirming full name and once again confirming holding. I intend to write to the board by the weekend requesting an EGM. Those who cannot use private messaging I will find a way to contact later. soloegm123@ gmail.com
LUCKYLIZ
Rana1989
Willowpillow
Lo643898.
Yosty100.
RockDoc.
BigBoyBiue.
Jettydog.
Oilriches
DickieT
ValdisereOily.
Miidas.
szynd.
Morning, could the following who are able to private message, send me a quick note confirming full name and once again confirming holding. I intend to write to the board by the weekend requesting an EGM. Those who cannot use private messaging I will find a way to contact later.
LUCKYLIZ
Rana1989
Willowpillow
Lo643898.
Yosty100.
John2015
Paull5.
RockDoc.
Markettimer.
BigBoyBiue.
Jettydog.
Oilriches
DickieT
ValdisereOily.
Miidas.
szynd.
We can politely ask NR to step aside anything more than that will need formally bringing up as a special resolution and as previously mentioned approx 60 - 80 mill shares to vote for it. Let us not run before we can walk
To remove NR I estimate we would need around 60 - 80 million shares for the resolution to be passed. A difficult one to organise and one I will not be taking on.
Moving NR aside or getting rid of him altogether is going to be very difficult to push through. We maybe able to gather say 10% of shareholder votes. All he has to do is get H1 and the Board to vote the other way and we would struggle to secure the desired outcome.
Think we would be better to get formal commitments on certain issues at this fairly delicate time.
Great support for requesting an EGM, thanks to all that posted on the matter.
Any ideas for items to be discussed please feel free to post.
My initial thoughts are as follows. Kicking NR out is not on the agenda at this specific time.
1. Until our Tanzanian asset / assets are monetised the Board will not invest in any new projects or take any further stake in existing projects without shareholders approval.
2. The Board will cease to take a salary until the SP has recovered to an agreed level for an agreed time.
3. The Board will formally commit to paying out a dividend on the sale of our Tanzanian asset(s). The percent to be agreed.
the EGM is necessary to curb NRs spending without proof of concept. Sure if Tanzania was sold for 50 mill and 35 mill was handed back to shareholders as a divided I then do not see a major issue with further investments. What we cannot accept is more dilution for new projects at the present time. Funds will be required for our existing assets and that should come first. Also no salaries should be taken until the SP has recovered. No doubt there will be plenty of other items on the agenda and the LSE boards feedback is required for this.
At some point I am very likely to need proof of holdings from all on the list below. Once I am aware of what the Board require I will then request it.
So far myself, Jettydog and hopefully cperkin will attend the EGM. Any other knowledge holders that would like to attend feel free to put your names in the hat.
LUCKYLIZ
Rana1989
Willowpillow
Lo643898.
Yosty100.
John2015
Paull5.
RockDoc.
Markettimer.
BigBoyBiue.
Jettydog.
Oilriches
DickieT