Member Info for jono44

Hopefully the resolutions will fail and Lyth's position would then be untenable and he would have to resign.
Failing to get two directors removed would send a clear message to his partners and hopefully they will follow suit, and leave the remaining bod to appoint a CEO who is capable of returning shareholder value.
This does have the look of an orchestrated move to hand control to certain individuals, which if transpires would be unlawful and should be fully investigated, so a dangerous game is being played and shareholders are the one's who are suffering

Wouldn't it be nice to have a 3rd resolution!

Agree, jt goes to show that he doesn't even read his own rns before release.
Totally incompetence from a CEO to get his own shareholding amount wrong.
Disregard for shareholders think his mind is on other matters, his own!

Hi does anyone know where the Form Of Proxy that is supposed to accompany the circular is, I can't find it!

Piltick

Placing Rns 23rd Nov 2917 Lyth subscribed for 4m shares so should have 5.3 m but is only owning up to 1.3 in final results as pointed out by guzzler1962, very strange and needs clarified.

Also to be noted is that E J Hales has 17,504,586 shares pre consolidaton.

And Hogan has 215m so this is approx 15% of total shares that are held by the three of them but they will also have Zorbas with Eaton equities 215 m.

So will have at least 30% of vote in their favour unless someone else can add to that tally?

Alexios,
Thanks for that link makes interesting reading about who holds and how many.

This is going to be a very interesting couple of weeks for all genuine holders.

Let's hope someone genuine and honest steps up and takes charge and does what is right for all
shareholders.

The share centre states that Lyth had 5.3 million before consolidation.

So if he now only holds the equivalent of 1.3 million before consolidation he must have sold/disposed of 4m shares.

So if he hasn't informed the market he is in deep you know what.

But maybe he forgot or didn't know he had that many or maybe he still has that many and forgot he bought 4m on 22nd November 2017 I think it was a Wednesday no it was definitely a Monday eh no right first time Wednesday.
Maybe he hasn't got any shares.

Something not right here.

Our CEO's track record look at last few rns's

1 Capital re-orginisation......outcome total disaster
2 Change of name...............outcome totally embarrassing disaster
3 GM date.............................outcome don't know what day of the week it is, really embarrasing
4 vote to get rid of Chinese directors ....outcome god knows but probably disastrous
CEO has to come clean as to reasons for this GM to vote off these directors

InvestingGenius
Mr Qinfu Zhang has over 30 years work experience in the fields of clean energy and manufacturing. Mr Zhang holds the position of chairman at Wintask Group Limited, Shaanxi Hailang Group, Hlevel Co. Ltd, and Fu'an Biology Technology Co., Ltd.
He was also good enough to serve as chairman of Altona.

Mr Ma is the nominated board representative of Sino-Aus Energy Group Ltd and joined the board in March 2016. He holds a number of directorships in China and has many years' experience in various companies, including those within sectors such as energy, engineering, real estate and technology. He brings a wealth of knowledge and business acumen to the company

In the rns on 2nd Feb the two companies represented by the above directors both reaffirmed their commitment to fund altona also in another rns on 24th April " Sufficient funds to complete the exploratory phase have been transferred to Altona's Australian bank account"!!

Sorry but there's something not right about trying to get rid of these directors and until our CEO gives a valid reason
then nobody will vote to get rid of them until he does.
Also why would a nomad refuse to sign up to Altona because two directors are Chinese are there no Chinese directors on any other UK listed company.
InvestingGenius could you please explain why you are so sure they will get voted off.

Thanks

Tend to agree they haven't even given a reason.
They could have said it was in the best interest of the company but get the feeling it's in their own best interest.

Sunlituplands was yesterday's rns what you expected?

Agree market makers taking advantage but why are Lyth's hand tied, isn't the nomad still acting till 1st Feb?
Quite a few companies in same position regarding nomad are their ceo's hands also tied!

Maybe should tie his legs to stop him going on his jollies with his mates, and get him to sort out the Native Title Heritage survey.
He got the share consolidation done for no reason but at least he failed with the name change.
The man needs to go, he needs to get the drilling programme underway not changing names for god's sake.

Yes come on sunlit
Do you think the chairman will do anything to stop this farce
Will he sack Lyth
Will the nomad anything
Is there a long game being played by the Chinese
I think all pi's are living in interesting times
So come on sunlit.

Looks like the weekly manipulated. share price drop has started.
Don't see point in selling now, new low price, well done Mr lyth, shareholder value indeed.

Be interesting to see if shareholders who have written to chairman actually get a reply, look forward to it.

Well done let's hope he takes the appropriate actions and looks after all shareholders interest as well his own.

Yes totally agree but how.

Has anyone who reads this bb sold any shares recently, just wanted to know if it is pi,s selling or if it is being sold down by others. Firmly believe that this is a deliberate tactic. share consolidation and failed embarrasing attempt to change name, so that someone can get altona's assets cheaply. Lets not forget about our chairman he is doing a stellar job to earn his salary !!!! Take control or don't, show us you are worthy of being a chairman!

Jack will probably participate in the next fundraise, which can't be far away now if we're honest.

Maybe the chairman has realised that he has a responsibility to Altona shsreholders

He is a director and chairman of several companies so must be competent and maybe decided
that he can no longer turn a blind eye to what is happening.

Altona needs a CEO who can make things happen, they have great potential but have been badly managed for years.

Native Title Heritage survey, should have been acquired years ago !

Just one of many failures that should have been dealt with by the directors long ago.

This is not a new company!!