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Apols Lavrov, not Livov.

Per MM : " Perhaps of more immediate interest is that FM Lavrov will be in Brazzaville on that date to meet with Big D. I suspect that security guarantees will be on the agenda - quite an important subject with $250bn+ tons of iron ore set to be developed"

To which I added

.."See this from Africa Intelligence (albeit 18 months ago) :

https://www.africaintelligence.com/central-africa/2022/09/28/washington-and-paris-perturbed-by-wagner-s-congo-foray,109826863-eve

.."Washington and Paris perturbed by Wagner's Congo foray

The United States and France are worried that Wagner, which is already heavily involved in the Central Africa Republic and Mali, is now trying to get a foothold in Congo. Fears that the mercenary group might be trying to set up shop in the port of Pointe-Noire are being taken very seriously.

Defence, Diplomacy 28.09.2022 "

HTH

This is from the US, but the basic principles apply :

https://www.benzinga.com/money/what-happens-when-a-stock-is-delisted

Well worth a read, IMO.

HTH

.." they may be voluntary delisting because someone might be interested in buying it .."

Yes, in which case current shareholders are less likely to benefit.

Or they might de-list so as to disappear off the regulatory radar, having milked the cow for as much as possible.

Either way, not good news for current shareholders.

And btw, they've had 24 hours to correct the mistake, if it WAS a mistake...so maybe peeps should consider the implications/ramifications if this - 'at least' instead of 'up to' - is indeed the intention.

Someone might even ask the company to clarify, which would turn heat into light.

GLA

PS It's not unheard of for controlling shareholders to take a company private for them to reap the subsequent benefits.

Teddy Sagi's done this several times, most recently with Kape Technologies, see

Teddy Sagi launches £1.25bn takeover bid for Kape …

WebFeb 13, 2023 · Kape Technologies has become the latest UK-listed tech company to consider leaving the UK stock exchange after receiving a £1.25bn takeover offer from majority owner and Israeli billionaire...

The threat of delisting is here :

https://www.standard.co.uk/business/expressvpn-kape-directors-teddy-sagi-playtech-vpn-acquisition-private-delisting-b1068832.html

.."“Were Unikmind to become successful in obtaining sufficient voting rights in Kape to make the passing of a delisting resolution likely, Kape Shareholders would have to seriously consider accepting the offer despite the independent directors’ firm view that it materially undervalues Kape,” they said..."

Obviously, this is a case where a company has known value , so the read-across to SYME is somewhat academic, but the reasons why investors generally don't like to be de-listed (asymmetry of info, questionable liquidity (matched bargain only basis), and loss of certain regulatory protections) would apply.

There've been several other 'opportunistic' delistings by controlling shareholders in the last couple of years.

A level playing field it ain't.

HTH

Hi Mr Green,

Most everyone is missing the point, which is :

.."The main requirement to delist a company from the LSE's main market is that a special resolution requiring a 75% majority must be passed by shareholders approving the cancellation of the admission of the company's shares to the Official List and to trading on the LSE's market for listed securities..."

https://resourcehub.bakermckenzie.com/en/resources/global-public-ma-guide/europe-middle-east-and-africa/united-kingdom/topics/delisting

HTH ...and DYOC

Thanks for the potted history, which re-caps 'the story so far'.

New was this bit :

"Readers at this point may be interested in the May movements of a corporate jet of some size..."

Yes, of course we would be. That's why I recently shared the flights and ownership detail re PP-FCC, to corroborate the Asperbras connection (to Lula's election campaign and other* dealings with the Nguesso's).

* some links were deliberately not included, for those of a sensitive disposition

It seems potentially more-than-coincidental that Big Den will be meeting Livov at the same time as Little Den is in Brazil (and MK may still be in Japan/Asia). Anything that supports further theories of convergence behind-the-scenes is welcome.

Livov at least will be familiar with Lenin's maxim ' Trust is good, control (=checking) is better'.

If you have the detail to support your comments (which I agree are encouraging), kindly provide !

.." a potash mine in Africa (fastest growing region, globally, population wise) will be a major strategic asset in these turbulent times; .."

Especially if it's located directly opposite a major fertilizer market (Brazil, Argentina) with a spiffing new deepwater port complex supposedly coming to Pointe Noire.

IIRC (ex ZIOC), China's EximBank was supposed to have done a survey of potential exporters on a 'without commitment' basis, to see if financing a port expansion would make commercial sense.

DAK if KP2 was a participant?

GLA and ATB

.."Problem here is A| / tag etc own most of the shares so they can do what they like..."

Well, they haven't historically ever voted at an AGM in anything like the numbers that they have declared they ow, usually for 'admin' reasons.

OTOH, Res 7 is a waiver of pre-emption rights , ie no need to offer the newly issued share to existing shareholders...

If both 6 and 7 are passed as currently drafted, I don't see what's (theoretically) to stop SYME issuing sufficient shares to a third or connected party (as 'consideration' for some inflated/illusory acquisition)to reach a de-listing threshold.

As the CIA saying supposedly has it, 'we look at what folk say, but plan according to what they can actually do'.

Interesting times, for sure.

Https://www.supplymecapital.com/wp-content/uploads/2024/05/SYME-2024-Notice-of-AGM-2905-FINAL.pdf

HTH

Resolution 6 is (cough) interesting .....

.."Resolution 6 seeks authorisation for the Directors to be provided with a general authority allot and issue Ordinary shares or Warrants. This general authority would permit the Directors to allot and issue Ordinary shares or Warrants representing AT LEAST [my caps] 20% of the nominal value of the issued ordinary share capital of the Company rounded to the nearest sterling as at the date of this Notice..."

I suspect this should read 'UP TO 20%', but with SYME you can never be sure.

If this IS the intention, PI's can't complain that they weren't warned.

AFAICS.

GLA

And from today's depeches

(1) Big Den has been in Nairobi to visit Pres Ruto (just back from Washington, where Ruto was feted by Biden (first African Head of State in 14 years) and Kenya was recognised as first sub-Saharan major non-NATO ally), see

https://www.reuters.com/world/us-kenya-deals-investments-announced-ruto-meets-biden-2024-05-23/

and maybe to pick up a few pointers.....

All part of the US playing belated catch-up to China's wooing of the Continent.

(2) The visit coincides with Africa Development Bank celebrating its 60th anniversary, and more than 30 Heads of State are attending.

Key takeaway from the CEO :

.."When asked how the ADB intends to invest in the realization of continental projects, Akinwumi Adesina said

that negotiating skills is key in this area. His institution has the experience that can benefit other public players, when, for example, they are appointed to negotiate or manage raw materials.

These acts must become more transparent and provide an opportunity to establish symmetry between the country that owns the resource and the operator who expresses an interest in exploiting it,” he argued.

(3) The depeches editor doesn't have much self-awareness, this edition also covers news of the C-B government attempt to re-activate a State-owned $20million paving slab and kerbstone manufacturer ' to deal with youth unemployment'.

The article reveals that only 2 out of the 10 production lines set up in 2016 are working, it has 120 of the original 360 employees...but that they haven't been paid in 70 months...(?). The company hopes to sell its reduced production to the cities and towns throughout the country , when they implement the beautification initiatives that are proposed.

It all sounds a bit desperate , in my view.

From yesterday's depeches :

DOMESTIC DEBT

Settlement of debts over 10 million FCFA imminent

The second stage of the overall plan to clear the State's commercial and social arrears involves the signature of a special agreement by creditors with amounts in excess of 10 million FCFA.

The terms of decree n° 2023-1579 of September 19 2023 will be applied on the basis of the following 3 options : payment of the balance at a discount of 66% in 2024; a discount of 35% of the balance with payment over three years, and finally a discount of 25% of the balance with payment over four years..

The government will continue its efforts to find solutions to pay off the outstanding debt ..."

So debts over US$ 16K approx will be settled at 1/3rd of face value this year; or with a 1/3rd haircut over 3 years; or 'only' a 25% haircut over 4 years....and no comment re the fate of sums below USD 16K.

Choices, choices...

;-<

GLA

..(>25/

speaking of missing deadlines (or not), our old friends parzival partners have had a shake-up and lisa ***don has apparently dropped out of the team.

she gave up 'significant control (>25/

Hi Mitch 984,

Thanks (seriously) for this perspective !

I admit to being underwhelmed by Marty's presentation , which was somewhat hesitant and perhaps necessarily 'scripted'. But at this stage I'd rather have someone who was technically good but a poor talker than the reverse.

ATB

.."Was expecting a lot more comment on here about what MK said 🤷🏻‍♂️🤔.."

A comment from you might have got the ball rolling !

;->

MM's posted his take in t'other place.

My comments there were

.."Good to see Marty break cover at last..and I see that the interview has been flagged on his and ZIOC's linked-in, but not yet AFAICS on twitter.

Interesting that he kicked off by extolling the benefits the Project would bring to C-B itself, which suggests good 'soft' political skills !

He toggled a bit between strategic investors and strategic partners ...this and the fact that his first public appearance is to reference meetings in China and Japan make me think that there's still all to play for...and that MK's following the [Elphick ?] script of continued ZIOC say/involvement in the Project development.

At some point in the next 5 weeks or so, Elphick himself may have to be less 'delphic' in his comments.

Meanwhile, it's looking as though there may finally be some progress over at KP2 (I don't hold), which should - if substantiated - help the 'mood music'...and ZIOC's languishing share price."

GLA

And another...

And more from Seb

14m

.."Between June 2014 and April 2016, Argentina and the creditors maintained a legal and public dispute that included the court mediator, Daniel Pollack.

- There were a total of 442 filings in Griesa's court during this period, related to liens, appeals, complaints, delays, contempt, injunctions, etc.

- In my opinion, Judge Preska is already close to losing patience with the Argentine Republic as Griesa did. Her last rulings are proof.

- Is there a mediator in sight?"

GLA

Good to see Marty break cover at last..and I see that the interview has been flagged on his and ZIOC's linked-in, but not yet AFAICS on twitter.

Interesting that he kicked off by extolling the benefits the Project would bring to C-B itself, which suggests good 'soft' political skills !

He toggled a bit between strategic investors and strategic partners ...this and the fact that his first public appearance is to reference meetings in China and Japan make me think that there's still all to play for...and that MK's following the [Elphick ?] script of continued ZIOC say/involvement in the Project development.

At some point in the next 5 weeks or so, Elphick himself may have to be less 'delphic' in his comments.

Meanwhile, it's looking as though there may finally be some progress over at KP2 (I don't hold), which should - if substantiated - help the 'mood music'...and ZIOC's languishing share price.

GLA

thanks for the reminder re the mysterious 'protocol gaffe' of a couple of months back. i wonder if someone spoke - or didn't speak - out of turn ?

anyhoo, the rewards of 'investment co-operation' seem to be following swiftly in the wake of rekodiq developments .

from ashmore research :

.."****stan: the united arab emirates (uae) unveiled a substantial usd 10bn investment pledge targeting "promising" economic sectors within the country. the pledge followed a meeting between uae president mohammed bin zayed al nahyan and ****stan prime minister shebaz sharif. the initiative aims to enhance economic development and foster cooperation between the uae and ****stan, a significant step forward in their bilateral relations..."

'put that in your pipe and smoke it, big den'.

atb

Newsflow from Seb :

(1) Tuesday, 12:00 pm: Hearing in Judge Preska's court to present arguments for and against forcing the country to present information on whether certain entities administered by the State are the Alter Ego of the Republic. Argentina.

- These companies include but are not limited to: YPF, Aerolíneas, BCRA, ARSAT, BNA, etc.

- This hearing is related to the case for the expropriation of YPF.

(2) Seb will be leading a zoom call on Weds, @6pm Arg time, 10pm UK time AIUI ..(?some confusion in timing below?), possibly to discuss the above...

An important stage begins for the Argentine Republic and the challenges offered by the trial for the expropriation of YPF.

This Wednesday, May 29 at 6:00 p.m. (ART) , I will be giving a virtual conference where I will talk about the history behind the trial, the interpretation of Argentine laws by foreign courts and what can happen now that the country has appealed Judge Loretta Preska's ruling.

The conference will be in Spanish and was organized by

@Abogadosdelf and the Argentine Lawyers Association (New York).

For those who wish to participate, I share the Zoom data.

Topic: ACADEMIC MEETING COMMISSION OF COLLECTIVE LAW

Time: May 29, 2024 06:00 pm GMT+08:00

Login Zoom Meeting

hxxps://us02web.zoom.us/j/9447524535?pwd=SEg5eEFXTkdCUnVDM2ZiTFNVU3pGZz09&omn=83961623067

Meeting ID: 944 752 4535

Access code: justicia

E and OE,

GLA and ATB