Member Info for cperkin

I am sure that's true RoJo and I am sure you felt the same way about the 2 year wait for a GSA that eventually came. For me & unfortunately this just looks like Business as usual in Tanzania.

Quite true RoJo just as is there is no certainty that it won't be approved

Get your head round indeed.

About how I see it BigP & there has never been any transparency with the Tanzanian Gov and PI com's, especially not during ongoing negotiations.

No chance BP, it would make somebody look bad...

Just don't talk about it...

Mine is on 2 for the reasons others have already stated Tanzania.

1.0 The Zubairs in league with the Tanzanian Government are just waiting to take the assets out from under the nose of the little old AEX pi's
2.0 The Zubairs are acting in confidence that the farmout will be signed and are not calling in the loan and extending a further hand with financing, saving us little old AEX pi's a placing.

GL

From the AEX RNS

"To preserve cash, some directors of the Company gave up cash remuneration and were awarded share options in lieu on 1 May 2020. Given the current economic climate, the global pandemic and depressed markets, those directors have now waived/surrendered their rights to all share options awarded to them on 1 May 2020. Furthermore, all previous share option plans of the Company have either expired or been terminated by the Board."

"remain hopeful that Government approval for the Farm-Out will be received this month."

"With these cost reduction initiatives, the expected completion of the Farm-Out soon,and the continued support of ARA and Eclipse, our cornerstone investor, the Company looks forward to its next stage of development."

Yes, don't do a John Crusty!!!

That's nice of the Zubairs….

https://www.londonstockexchange.com/news-article/AEX/ruvuma-farm-out-and-corporate-update/14615267

What are folks guessing, another week after the Omani plane lands on the 18th?

Seems it's not only the Tanzanian Energy minister that has trouble with pens...

Unfortunately PT2 that can't be done because then you upset the Tanz Gov and then they take even longer or don't approve at all. It's more like a dictatorship it seems.

The AEX RNS will probably say,

"We are working closely with the Tanzanian Government to conclude the final signature. The long stop is xxx and the Zubairs have agreed (or not) to extend the loan to AEX.

What it should say is

"Due to difficulties with having the Tanzanian energy minister sign the approval despite taking the money for it over a month ago, the company is still waiting for the Gov to make their mind up on what exactly it is they wish to do with their extensive natural resources. Unfortunately Tanzania is a bit of a basket case when it comes to what is considered "normal" Government negotiations with Foreign investors.

We expect to update shareholders soon.

30 mins....

I would like to see a sliding scale Frank.

x shares @1.5p Y @ 2p, Z @3p as in Incentive to deliver shareholder value in stages.

Ah sorry Chesh I misunderstood, they are a one off share award for all the amazing hard work he has done in delivering shareholder value over the last 2 years ;0)

Yes, lets see what they come back with. They call them "incentive options" and as BD and I pointed out, 1.3p is no incentive, the SP is already there, hardly a stretch goal is it.

They need to confirm before the AGM as that's when they need approval to issue.

Spot on Chesh, they have to buy the shares at the Exercise price first. I totalled up all the options and it's over £600,000 at 1.3p