Member Info for fairdealer20

Dilutive yes, but the options are an almost complete loss. The same issues will surround Selene and other prospects.

Unless Lord Spencer and Richard Sneller have become complete philanthropists, does anyone beleive they are standing idly by??

Spike yep the RNS does state No Fund Raise. Does anyone beleive Peter Spencer and Sneller will write off their significant investments?

22p would raise just over £20m

If faced with a express fund raise, would pi's reject and prefer to lose Pensacola which would automaticaly transfer to the JV Partners, who have oodles of cash??

They have less than 28 days to acheive funding to plug the shortfall due to NO Interested FO partner. A 1 for 1 raise at 20p would give the headroom required. Whether or not ordinary PI's will be allowed to take part remains to be seen, otherwise we have lost Pensacola.

We are speculating and may well be way off the mark.

For an agrieved group to be instigating the action, knowing full well when push comes to shove, the Poddar Family have a majority of votes. The involvement of NEDs, says there are issues which they (NED) know about. If not the case and pure grudge, then the action will fail.

Maybe, except they may be keeping their powder dry and wish to openly question Shishir without leaving themselves open to Libel Claims. Do'nt forget the NEDs know far more than anyone!!

Food for thought.

The Action Group will know given the Poddar Family Holding, propositions at a "possible" GM, are unlikely to pass, unless they ( Action Group) have evidence of improper activity???

Texustus, 1 vote for each share held.

PI's all, one step at a time. Under the terms of Association the agrieved group have enough support (% of issued shares), to request a GM.

If a GM is allowed ALL shareholders will be invited to attend/vote on the Propositions being put forward.

Unless the Shareholder Term of Association state otherwise, any vote will be based on a simple majority (50%+)

The Shareholder Agreement needs to be viewed to confirm the exact % to pass an extraordinary proposition.

Zan,

I am old enough and experienced to know a Rat, when I see or read them. These boards are infested with characters who have Agendas. The trick is recognising them. Likewise there are Company Directors who are less than honest ( they will only say what makes the reader happy). Again the trick is analysing known and sometimes obscure data to form an opinion. Sometimes it can be "gut-feeling" which tends to only come with experience.

Back to Posters, there are a few here whose background and agenda requires scrutiny. One amongst some appears to only post on this board and is a relatively new Poster who raises my suspicions.

In the end genuine Shareholders ( I discard Traders who have a completely different strategy to LTH's), sift the chaff from the grain and act.

You have stated concerns regarding the management of the Company. Is it going to change given the way events have evolved?

I repeat, Funders are nervious, which can only reflect on the CEO. Is the company to limp along or become more dynamic? I do'nt see it happening under the current Management Team. I do not see the possible GM changing much, because again, as stated, the Poddar Family have virtual overall control. Things could change if Shishir were to allow his ego to sleep and make way for fresh thinking which Banks would support.

Zan

All we, Ordinary PI's, know so far without sight of FULL details of the requistioning letter, is Walpole St Andrew Nominees on behalf of a group of investors, is a GM is requested on the basis to remove and replace named Directors. The full text of the letter will tell us all a lot more about the overall reasoning as will the detailed Proposition to be published should the GM go ahead.

Clearly the Group are seriously concerned as to how the company is being managed.Maybe those who post here and are part of the Group can declare their participation?

The use of emotive terms like coup is inflamatory as under Corporate Law Shareholders can act in concert given the required Shareholding, in requesting a GM. A GM cannot be called for some fatuous reason but have substantive grounds to put Resolution(s) before the Total Members.

I, for one, am unhappy at the style of management and level of competence that exists. My initial reaction is to support the group, but await full and further details of the GM and it's proposition(s). I am not part of the group at this point.

The Company cannot continue to be Managed in the amaturish manner being experienced.

It would seem potential Funders are nervious, which reflects heavily on the CEO and Board. If Shishir, with his Family's large shareholding, wishes to protect and enhance value, he should at least consider stepping aside. There are Consultancy roles he could undertake.

As stated earlier it is complete nonsense to bandy around 2000% increase in short order. It MAY happen eventually, but not under the current Management style.

Any serious long term investor wants to see a well run company that grows and generates disposable profits. The current incumbents, given their record do not engender confidence within the Funding Community. That alone tells experienced Investors, something must change.

A change of Management could not be worse than the present Directors.

Zan do you consider the Poddar Family are in an Ivory Tower and not accountable to anyone?

The Group taking action are clearly incensed and want changes. As stated earlier, doubtful they will succeed given the Shareholding Power the Poddar family hold.

As a VC have seen Board members removed for lesser incompetence.

If Shishir has any sense, he would step aside allowing Execs who command respect in the Banking community. That in itself would inflate the SP, not by 2000% as suggested, that is pure nonsense

Syrah;s decline over 8 years amounts to 1200%

TGR decline over the last 3 years is 3000%

Many in Syrah will have lost hugely but nowhere near the level of loss in TGR.

The numbers speak for them selves.

DYOR as I do!!!

So why have China restricted export of Graphite? Has the hit to which you refer led to other miners taking a 1500% decline in SP?

Was the suspension last year, the rapid resignation of Broker, an accident or pure Bad managment?

The continuing " imminence" of VAT refund, which for all PI's know is due to an investigation by Madagascian Authorities. WE just do not know.

Whose naive? Get real.

Shareholders/Posters need to reflect on the catalogue of disasters that have led to the rapid decline in the SP when the company has an exceptionally valuable asset.

There is only one person who ultimately holds reponsiblity, Shishir.

I support the Group, who have in train previous Board members who probably resigned because of Management issues and the Direction of travel.

Remember these past Board members will have much greater knowledge than anyone here.

However because of the Poddar's Holding it is highly unlikely they will be removed, unless, as previously stated, some improper activities have occurred.

What the Board Bard fails to say, dividends can only be payed at the behest of Debt Funders. Which is like a snowballs chance in Hell.

Gulf can only predict a couple of sunny days in June.

It will be interesting to see if a GM is agreed even though the Broker who is Trustee of shares, has made the request. Another AIM co had a similar request which Brokers would not support, hence the Execs denied a request for GM.

The group of shareholders here have cleared one hurdle and who knows if granted will gain further support from Shareholders not in the Group.

TGR to all intense and purposes is a Family Business, too remove the Poddars with their shareholding will be difficult, unless he Group who have instigated this move have some evidence of inpropiety.

There certainly needs o be change here as the way management is operating could leave us penniless.

Company's may be drilling in areas of known significant reserves in the NS. The risks are never the less, enormous when considering the current and planned tax implications ( under a Labour administration).

Funds are better rewarded in Canada.

Believe what you wish. The Political dynamic is an enormous barrier to most E&P Co's in the UKNS. As it stands IMO, Serenity is almost dead. I3e can better invest in Canada.

That is a very offensive remark. I suggest you remove immediately.

My family never managed Post Offices.

SC do try harder. Be a tad more respectful to those whose knowledge is superior. You could learn a lot