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Time to pen a letter/email to gov. asking for clarification as to what is holding up the issuing of the exploitation license -it's been good 18months since the company has fulfilled what it was asked to do- let's have an open and transparent process exhibited- consequences can't be any worse off than they are at the moment.
According to the latest presentation the company has said they expect to complete the Serenity farmin in Q3- Q3 ends at the end of Sept. I expect a significant re-rate upon the announcement of Serenity farmin. so it's only a few weeks at the most before fireworks. And even if this doesn't transpire in the rising of share price just modest dividends are an attractive prospect at this level. That's my rationale for holding and if possible to accumulate further.
I would have thought it was incumbent on responsible management of a listed company to seek to clarify from the government as to what the obstacle is after having fulfilled all the stated requirements. If one continues in fear of upsetting Faure then what is to stop them from upsetting the process and putting unreasonable obstacles if and when the licence is granted. I think it is about time the management starting to ask questions of the government and open up as to why is the licence not being granted. Significant investment is being held up with pussy footing around.
Timid thanks for the link to the video- extremely refreshing to hear straight-talking and honest ceo, having a practical and affordable strategy, with a large skin in the game.
FCF in 10months and dividends thereafter, what's not to like. Let's keep a low profile for a while longer until I can build some serious stake.
Exactly right this is crazy undervalued at the moment. Came across this last week and beginning to build a foothold, hope it remains this cheap. done a considerable amount of research can't see any major negatives- can someone point out what i am missing and why isn't this flying?
Sorry can't do the link but bot copied and pasted here. 1. What is the purpose of resolution 1 – what is the difference between allotting the shares and issuing them i.e. why is resolution 1 needed – why not just the authority to issue?
Allotment creates an unconditional right for a person to be registered as a shareholder of a company. The shares are issued after the name of the person to whom those shares have been allotted are entered into the shareholder register. That person is then able to exercise his or her rights as a shareholder. Resolution 1 is an ordinary resolution and has a 50% approval threshold.
2. Could you kindly explain the purposes of resolutions 3 & 4 particularly #3?
The Companies Act 2006 gives shareholders a pre-emption right, pro-rata to their existing shareholdings over any proposed share allotments. The purpose of Resolutions 3 and 4 is to allow the Company to allot and issue the share amounts stated in Resolutions 1 and 2 respectively on a non-pre-emptive basis. This is done when the Company believes the issuance of the shares on a non-pre-emptive basis is in the best interests of the company and its shareholders. Factors taken into consideration when deciding on a non-pre-emptive equity issuance versus an alternative rights issue included the time available and capital requirement to conclude the associated asset acquisition. Resolutions 3 and 4 are special resolutions and have a 75% approval threshold.