Member Info for brighterlater

I'd be up for that Chippy.

I really don't think we have the luxury of allowing Rennocks another six months. I'd like to see him gone tomorrow. I wasn't there yesterday but from what I've heard, and from my impression of him at last years AGM, he has not only done nothing of value (that I can see) for AFC, but has been a strong contributory factor to the state we are in today. Despite recent history, I'm still confident of success, albeit with a different focus but JR has had enough time now and we need someone far better than him. Disengaged and disinterested are not the hallmark traits of a competent chairman.

Good on you Beach. And thanks Maine man and others for the feedback.

Sorry Beach, when you say ultimatum, do you mean the outcome? I missed today but will definitely get there for November.

Sorry Bigbench, you said end of May. I read it as end of day! Whoops

High 20's by end of day? A tad optimistic but I'd love it if you were right!

My plans have changed at the very last minute and I won't now be attending. Given how angry I am, this may actually be a good thing.. On a serious note though, to all those in attendance today, please please try to get the questions we need answering asked at the earliest opportunity and remember... because AB is up for 'retirement by rotation' he needs to be voted back to the board today. Something to think about. I hope there are positives from today and I'm grateful in advance to those who'll be reporting back. Cheers

I absolutely take you point SprogBarnes.

Whether or not someone could do a better job than AB is debatable - his credibility is certainly damaged and my confidence in him has ebbed away in equal measure. He's probably a great guy to share a beer with and I don't have any personal animosity, I'm just unconvinced of his ability, at this stage, to turn things round quickly. That said, would now really be the best time to have a new CEO? I'm very cross about the whole situation but perhaps, for the moment, 'better the devil you know'.

Hi Chippy,

Here you go. The first item below is from the notice of the AGM. The second item is the corresponding article from the Articles of Association.

I can’t recall if the votes at AGMs to pass resolutions usually occur at the start or the end of the meeting but, in this case, there’s clearly a strong argument for having it at the end, after AB as spoken. If he’s up for re-election, surely it would be sensible to vote AFTER shareholders have heard what he has to say. This seems only fair to AB, and to us. What do other LTHs feel about this?

1) RESOLUTION 2: RE-ELECTION OF ADAM STEVEN BOND
Adam Steven Bond was not re-elected at either of the two preceding Annual General Meetings in accordance with article 105(2) of the Company’s articles of association and will stand for re-election.

2) 105. NUMBER OF DIRECTORS SUBJECT TO RETIREMENT BY ROTATION
At each annual general meeting the following directors will retire from office and be eligible for re-election:

105.1 any Directors who have been appointed by the Directors since the last annual general meeting;

and 105.2 any Director who was not elected or re-elected at either of the two preceding annual general meetings

Both documents can be found at: https://www.afcenergy.com/investors/aim-rule-26/shareholder-documents/

Yes, I am right. I’ve answered my own question. Will engage brain next time. Night all.

Having read through the articles of association, along with the AGM’s resolutions, am I right to infer that AB must be voted ‘back’ on to the board on Tuesday?

Bumble, I don't know who your broker is but they really ought to send the letter for you without charging a fee. In fact, they'll often simply email the registrar on your behalf. First Direct do it for free, I'd hope your broker could be persuaded to do the same for you.

In order to attend the AGM, all one needs to do is ask your broker to liaise with the registrar to inform them of your attendance. There is no fee for this. At the AGM, simply show your ID.
I also ask my broker to send me a copy of the same letter as, once, I turned up to an AGM and wasn’t permitted to vote as the broker had failed to contact the registrar. Inconvenient, but the broker (first direct) made good and paid me £500 for the mess-up, which was nice.

I’m inclined to agree with you about Tuva, Notes.
Of the multitude of companies in their field, I wonder why AFC engaged their services?
What was so compelling about Tuva’s proposition? They have no meaningful track record from what I can see.
Given the importance of the role they’re supposed to be playing, I think it’s all a bit semi-derrièred

This is old news but I only just came across it: https://www.google.com/url?sa=i&source=web&cd=&ved=2ahUKEwi1za3OpNLhAhWM1eAKHdC5CEcQzPwBegQIARAC&url=https%3A%2F%2Fdrillordrop.com%2F2019%2F02%2F28%2Fukog-unveils-plans-for-exploration-site-at-dunsfold-surrey%2F&psig=AOvVaw1BW7pfT66t9RZVExjsJc8Y&ust=1555424144977148

UKOG will be using diesel power on our doorstep, we should be providing the power instead. FFS

Agree with your comments Purple Bagel. Am more confident now and I've added another 100k here which has helped bring down my average.

Well put. Absolutely ridiculous.

Absolutely stupid whoever posted that on wikipedia. FFS. Either way, it's not there now.

Trendsandtargets are a team of analysts that attempt to predict price movements. They issue a daily report to subscribers and have been spookily precient on a fairly regular basis. Witchcraft or voodoo, I'm undecided, but last night's report for the day ahead suggested "Weakness on AFC Energy below 4.5 will invariably lead to 3.8 with secondary (if broken) at a longer term 2.35. The share requires to move ABOVE 5.7 to cancel the immediate drop potentials and allow improvement to 7/8p." To be fair, I've often ignored what they say when it comes to AFC as I'm so heavily invested it's pretty much 'bit or shust' for me.