Member Info for Bigears1170

DOC

I’d suggest it “needs “ to start soon with those greedy admin costs munching their way through £400k pr month .

If they go in to Q1 25 without the DRC till ringing then I would imagine it will be squeaky bum time at Bumbly….!

Yep ….company secretary alright … and it says so at Companies house too , just like my Mrs is a company Secretary ….😉

“Upon conversion the Lender will enter into a Management Agreement with the Company under which the Lender agrees to support reasonable recommendations and decisions of the Board “

In my world that translates to “ your clearly better at spending other people’s money than you are at making your own, therefore we will have a pair of eyes on the bod baby sitting your financial decision making “

She appeared in September , she is there to watch the bod like a hawk and to report back to Pantheon with concise and accurate information ….something Fowler has an aversion too ……..

Ian

100% agree she is no idiot , anything but !

However for the avoidance of doubt…..you believe that the lady (Ms Jing Zhou ) that Fowler calls his “ Company Secretary & Legal Council “ really is their company secretary & Legal council 🤭

I wonder at what point Pantheon start to get the whiff of a rodent ? 😳

Would it be unreasonable to assume that an internal “ratification “process taking just shy of three years would have wheedled out the gremlins in pretty much ANY system ? ………and yet here we are with the 90 day transition period nudging seven months and counting !

A very clever man indeed …..but not an ounce of honesty, accountability, integrity, responsibility, loyalty, or transparency has he shown towards his private investors over the years …..absolutely devoid of corporate ethics …..

With out a shadow of a doubt if an external outfit came in to look at the business Peter Fowler would be the first out of the door ..... he has to be in the top 1% of AIM CEO underachievers .

Seems most peeps bought in the 1’s 🤣

May 2016 ............

For a laugh - guess the year …….

“we have taken a critical look at our operations, learnt lessons with the benefit of hindsight, and are therefore undertaking a strategic review of our business to streamline operations and to ensure maximum shareholder benefit is achieved from the numerous large scale, long term and high margin opportunities we are developing and which we remain excited about."

DR M

How do you mean it " took a bit longer " ?

They signed the contract twice , they raised capex twice , ( How the FCUK that got past the nomad is bizarre ) what's the difference between now and 2021 ? You haven't got a clue and nor has anyone else ! I've been reading exactly the same stuff as you are posting for a decade or more !

June 2021 🤥🤭

“The contract was officially signed in Kinshasa by board representatives of Westminster and the airport authority, La Regie Des Voies Aeriennes (RVA) and witnessed by the British Ambassador, Ms Emily Maltman. “

April 2024 🤥🤭

A key development and expansion of our aviation security business is the ratification of the long-awaited contract for the Democratic Republic of Congo ("DRC") airports which was signed at a formal ceremony in Kinshasa, DRC on 11 April 2024 during the UK - DRC Trade and Investment Mission, by board representatives of both Westminster and the airport authority, La Regie Des Voies Aeriennes ('RVA'), in the presence of various government officials and dignitaries including Lord Popat, the UK Prime Minister's Trade Envoy; John Humphrey,

They might have to sign the DRC contract for a third time ! Stranger things have happened !

At least they could have a third round of CAPEX funding ..........

This is where your “ invested “ ⬇️

If you think Fowler et al possess the wherewithal & cunning to bypass it dream on ……..

“Formal cross sector research is lacking but anecdotally business-government corruption is widespread and companies frequently encounter demands for bribes and informal payments in order to ‘get things done’. Bribery is likely to be asked throughout all phases of conducting business. Public procurement in DRC suffers from corruption amongst officials, and there are examples of bribery, single sourcing and other methods of gaining concessions and contracts without equal competition.

The judicial system is underfinanced, overburdened and lacks basic resources and training. Courts primarily exist in urban areas and most of the population does not have access to judicial services. The police forces are largely ineffective, even in major cities and the capital. The police force is characterised by low salaries and poor treatment, meaning police intervention is limited and often involves illicit payments. The rule of law remains tenuous, allowing criminals to act with impunity.

Corruption, weak law enforcement, a dollarised economy and a dominant informal sector render DRC’s banking system highly vulnerable to money laundering. It is estimated that 70% of the country’s economy is informal with political instability making economic reform very difficult. Pervasive patronage networks, bureaucratic inefficiency and political instability hinder international investment prospects.”

“Once it does start it’s all contracted and funds via IATA etc so bypasses most local “issues”

Naïve doesn’t come close to describing some of the gullible sh@t that appears on this BB.

Do you seriously think those with their hands out in DRC will give a rats a$$ where the cash comes from to grease 🫰their palms ?

Bypass my ar$e , “ rampant corruption at every level of society” they will want paying their corner and they won’t give two hoots where the cash comes from ….!

Thank you 👍

ICE

I know its been discussed hereabouts ad nauseum , however what is the general consensus re the following ;

1.DX Sale before / after Xmas ?

2.Will proceeds go towards HC ?

😳

Jim

It has surprised me just how many “ investors “ have either turned a blind eye , or ignored just how corrupt a country the DRC is.

My research suggests to ( to me ) , that you will not conduct any meaningful commerce out their without greasing the wheels of industry.

It wouldn’t surprise me that Fowler just cannot get the DRC contract moving ( hence the delay ) without the compulsory greasing of the palm !

If this is the case the regulatory compliance of being a PLC makes it almost impossible !

Now being a LTD company on the other hand would make it “manageable” at arms length , and if the collateral damage of that is the Pi base then so be it ……AIMHO

Certainly has the whiff of that