Member Info for henrylegg

I have sent an e-mail to the company, asking if they can translate the findings of the arbitration into plain English. The possibility of a response is negligible, but one can live in hope.

yes it's all very odd isn't it? What we need is a buy back scheme to utilize the cash pile or a dividend from last years oil price bonanza. Yet this C.E.O seems incapable of doing anything, to support the share price. The only thing I can suggest is voting him out at the next A.G.M, and get somebody in with the interests of the company and the shareholders in mind. I'm amazed no-one has attempted a takeover to get their hands on the cash mountain

with the price of oil and gas they should be raking in the money, and the share price should be moving ahead nicely. It's becoming quite surreal, with the share price trading at circa 20% of it's real value. I have written to the company 3 times requesting information, but of course, no reply has been forthcoming. It's all quite worrying

interims' seem to have come and gone with very little reaction. I expected the price to go up by 1p with the extra $3 million dollars in the bank. Proger has gone to arbitration, so a long wait there. No news on the license, so another long wait.

yes, that really is depressing. And we are paying our great leader close on a million euros to stop Cad having a share of this success story. Beggars belief

Cad has always had close ties with Proger, at times sharing the same board members.
Cad had a pile of cash it didn't know what to do with , and a return of 5.5% was good money.
Proger is a highly successful profitable company
The initial conclusion was supposed to be Cad would exchange the money for a position in Proger which at the conclusion of the loan was valued at 20 million euro, plus an annual dividend This figure is probably higher now.
Course this was all arranged by the previous management, and now the new babies have thrown the rattle out the pram

That's all assuming Proger can raise the money. Remember when the loan was taken out, there was no intention of it being repaid. Still think Cad would have been better taking a stake in Proger. Oil won't last forever, and any move away from The Ukraine is a good one. On the optimistic side Cad squeezing Proger hard may result in the granting of more concessions by the beleaguered Proger.

On slightly different note I see our 'great' P.M. is getting matey with the Ukrainians, perhaps he could kindly ask that British firms are no longer subject to the corruption endemic in The Ukraine. Or even better start addressing the corruption endemic in the U.K

agm today, not that that will will cause any sensations. We'll have to wait til September for the half year results which will surely show an healthy profit and add to the considerable cash pile. I note there is a proposal in the A.G.M to pay our wonderful C.E.O a 5% bonus of the Proger money when he secures its return, which would wipe out half the profit on the loan. Nice money if you can get it, let's up somebody warms the trough before he sticks his snout in. Let's turn down a golden opportunity to diversify away from oil into a highly successful company, and expand our portfolio, or seize an opportunity to fill our pockets. Well it's a dilemma. No wonder the share price is 4p. Okay having had my rant I feel happier.

I'm sure everybody in the world would agree with that statement. Time for Fady to stand up and announce some plans/ambitions for the company, cos at present he doesn't seem to have any. I think it would be better if Cad went into voluntary liquidation, certainly from my point of view , and shared out all the lolly. It must be a unique situation for a company to be worth so much more money dead than alive

Lots of shares changing hands at the moment ,some at strange prices. Over on Aquis an apparent large sale of 4.1 is followed by a buy of 4.98, which makes the large sale look like a buy??????? Methinks Fady is too intent to fill his own boots than promote the company. A relatively small amount of cash to buy shares for cancellation would send the price to more reasonable levels

My understanding was that the loan was never meant to be repaid and that Cardogan would take a 22% share in Proger. This appears to be a very good deal for both parties. I can only imagine Cad has let the agreement end in order for Proger to default and cad to screw even more percentage share from Proger. Could be a good idea, if a little unethical

presumably Proger were expecting Cad to take the share option, as we all were. Well I presume we all were, as it was worth so much more. So can Proger raise the money? I would be nice if our wonderful new board could explain the thinking behind this decision, as the shares were worth 50% more than the money back, presuming Proger profits for last year came in as expected. We will never know as no information has been forthcoming

I seem to remember the deal with Proger had the option of a return in cash or a 25% stake in the company. As Proger is doing rather well this satisfied the plan of diversification, and business outside the Ukraine. I think most people assumed this opyion would be taken after a promised vote by shareholders. I note Cad has purposefully withheld Proger results, which begs the question what has happened to our 'right to vote' . I seems to have disappeared in a puff of smoke.

this trade has gone through the aquis exchange, which seems to be where most buys go

this trade has gone through the aquis exchange, which seems to be where most buys go

a few thoughts on the future. Our brave new board have now withheld results from Proger for circa 8 weeks. Now, why is this? Are the results so good that the board fears an increase in the SP. With the end of the loan arriving soon and presumably the conversion to a 25% stake in Proger ( last years results 11.3 Eu million ebitda) and presumably higher this year. And the share price a fraction of it's real value, it would make good economic sense to take the company private followed by a merger with Proger, (there are already very close ties), and subsequently refloat the company at a future date. I certainly won't be selling at these prices. The board have not shown any intention of supporting the SP quite the reverse

looking at the price and the fact it's a delayed publication, it looks more like a buy than a sell

I guess Frank Meysman and Invesco think the shares are good value at these prices and so do I. The profit warning has been overdone, and jumped on by shorters derampers and small investors panicking. Where is this profit warning anyway. All that was said was summer trade was less than expected. Against that turnover and EBIT are expected to be up!!!! Hang on

please don't make these wild statements without substantive evidence to back up your claims.

it seems self evident you should never trust a CEO. He's hardly likely to talk down his own company. How you get this idea Caza can't survive without a consolidation seems bizarre. There's no evidence Caza needs to raise money at the moment. The Appollo payback is 2 years away and with production hedged and a steady and fairly reliable income for the next few years, the only thing is to sit back and wait for the oil price to recover. The small Yorkville loan is disconcerting, but I assume this was taken out to prevent dipping into the next tranch of appollo money. Where's the fire