Member Info for Gloster

Yep, just need to get rid of that overhang.

They estimate cash balance of £4.2m by end of FY 2020

Finncap comment (will need to register for a free account) https://researchlibrary.finncap.com/File/View?file=c994b70b-916d-47bb-8113-36fb4e54fb9b

Well he's capped at 29.99% so what else will he do? Get a board seat? Consult the BOD and Mehra to back an RTO for something he wants to introduce. Interesting times...

Seems a reversal of one 5m and 500k trades. Separately, looks like Suhail has been booted off LSE. Now ramping incessantly on Twitter. Seem to recall he claimed he didn't have a Twitter account, yet he's spamming away on a 2012 account lol. https://twitter.com/suhailmohmed/

Burton is paid by HMI to ramp the stock on social media.

Ex-chairman of Circle Oil as well for 10 years. Funny story here about a botched nightclub deal too https://www.businesspost.ie/news-focus/the-cinema-mogul-the-nightspot-and-the-675m-judgment-0ec4aaa9

I remember posting on the Spitfire board a few years ago. Emailed them as well with no joy.

End of June then it's a suspension. Then another 6 months to complete an RTO then the shares are booted off AIM.

Greenwood still looking to buy more and obviously offered them the cash. Same focus on precious metals and no board changes. Is he placing faith in the BOD to pull something off or is he looking to introduce an asset himself?

I was egging on one of the moaners to call an EGM to return cash and explained the process a few weeks past. But that was mostly in jest. Other than the recent director buy, all the shares are in public hands so this would be the easiest place to pass any hostile resolutions as the board have such little skin in the game and they have no institutional investors either. The PIs could band together, just a matter of amassing the votes. Has been done in the past via Twitter groups etc.

And you went all Fatal Attraction towards Suhail. It was funny for a while but enjoyed the peace and quiet on the board while all those characters had moved on.

I have every idea when it comes to the Fura RTO, which has been debunked. Fura just wanted the asset not the listing as was the ramp du jour. They raised cash already and could afford to just pay for a secondary listing. I am not being "negative" just stating that you should focus on what is tangible, ie Mark Greenwood increasing his stake in the company beyond what he took in the placing. Stop posting deludedly and get your head together.

Why don't you regale us with more US rumours?

In respect of RLD, who cares? They took an underperforming asset off their hands and it’s clear the RTO hype had no substance. Let’s see what Greenwood’s up to.

Maybe he’s “the one who knocks”. Current BoD far from impressive so perhaps he’ll be a new broom.

As far as EGM requisitions go, it's straightforward. If you or a group of shareholders hold 5% of the company, you can serve a requisition notice on the directors to call an EGM. If you want to circumvent them and directly convene an EGM, you need 50%+ of the shares. Directors hold no shares so just a matter of gathering the votes. As an added bonus, I'd recommend running the notice by an Irish lawyer as the directors will look for any minor error/technicality to reject the requisition. Primary sources are the AOA (Article 51) and the Irish Companies Act (Section 178 and 1101 (which replaces 178(3) where a PLC is concerned).

I see a lot of whining on the boards but there is a clear pathway here. Will the moaners band together and call an EGM or just let off steam on the boards but take no useful action?

Not at all. Requisition an EGM and have them issue a special dividend. Mem and arts link for you http://ormondemining.com/wp-content/uploads/2017/10/ORM-Memorandum-and-Articles-of-Association-2017-FINAL.pdf

These expat communities always tend to be a small world.