The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
we have seen the information the BOD choose not to disclose to shareholders
you are right - if nomad has returned - they need to disclose and i think they have 30 days to get a new one
Good spot to be fair
to be fair - his post history shows him been in MXO since January 2016 (nearly 6 years)
he more than most has every right to post his thoughts here
Robert Sutherland??
he writes for *************
Ignore all Research Notes as they are paid for by the company as a marketing tool and then given loads of shares as payment
It only mentions the part the company want you to see to make sure investors invest
NOMAD's arent there to question what the Company says
A Nomad has to make sure that the company understands what they are releasing is a factual statement
It would be pretty impossible for a nomad to go through the reems of contractual paperwork for a contract to make sure it is 100% factual
It is also the reason an RNS has the usual blurb when releasing the data
Kind of what we suspected in terms of this $1.75m legal dispute
This comes back to what i said last week, if it is a total con - its Calabar Capital (Daniel Maling etc) who have been paid from ADME's investment
It will come down a lot to the original agreement held by them 'calabar capital' and 'NHNL' in terms of the wording of the RSC Contract they had - but this is all based on the assumptions of an Indirect Interest and me believing that the parties are correct - which i think there is a distinct lack of clarity
Its about now we need a Q&A with OSA to explain himself, the contract, who he is working with and the legal dispute that is ongoing
The issue is that we have an indirect interest - that means we are not officially part of any contract with the owners of OML141
Our indirect interest is based on the fact we own a subsiduary of a company that has a contract to provide the services
Now Zenith RNS states they have entered into an option agreement that is for quite a substantial payment - we will have to just wait and see who owns what and what happens if there are any legal ramifications
For this Zenith RNS - the License must be in NHNL's name - we believe it was revoked by the Nigerian Government in 2019 but we can't formally see it ever been re-instated - has anyone seen anything in regards to this?
ultimately its the BOD's non-disclosure of material facts that is driving the SP down
I presume this is Barracuda it relates too??
It makes sense as the claim is they have no ownership of contract yet BOD are claiming this to be true, legal expenses can run into millions and often some form of guarantee of costs needs to be given prior to commencement of legal work
under 1p now
I don't
TBH - I can't stand the guy
but saying that - he has a nasty habit of finding these things out and them been correct - something from him i would usually consider to be correct - i remember with FRR - he was posting simlar on legal disputes and all ended up been the truth - despite no evidence in the public domain
pineapple and cheese sticks - its hotdog and cheese up north lol
It will get passed,
In reality , the shares will be needed to pay for general expenses until revenue can be realised (from any source) and also to allow for the company to invest in further world class con's (assets)
we know the warrants will get approved
That Document does not look real - although after the update from ADME - it has to be taken as factual
TBH - ADME / KONH could probably sue NHNL as the statement would certainly be considered a libellous statement
both Calabar Capital & KONH UK were set up at the same time to facilitate the purchase
therefore my understanding is that the Owners / Directors in Calabar Capital Limited had the rights (or believed the rights) under the Risk sharing Contract
Calabar Capital is owned by Daniel Maling / Tor Langoy / Peraayya Karra
While Dan Maling has worked and works for various companies in this sector, i would doubt he would knowingly be part of a fraud
NNPC wouldn't
CALABAR CAPITAL were the ones that received the shares for the purchase and are under a lock in
I believe it was them who received the cash payments
If it was a fraudualent contract - they are the ones who benefitted
is it possible they have conned ADME and are now trying to con Zenith in a similar way, offering a risk Service contract?
This is why you are hard to believe
your claims change all the time
its why when you said you had evidence on Barracuda -but never provided it - no one actually believed you
worst case is, a lot of people here have lost money which could of been avoided if you had disclosed your 'evidence'
you are the worst type on here, your not been constructive to anybody - your just here to gloat
if a positive RNS came out next week and the SP rebounded to 3p (you will be the firs saying 'i closed my short at 1.2p')
you have no credability as we can all see how your claims change