The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Golightly you seem very much connected to zenith resources and catanos is there something you are not telling us? Especially as you gaslight every poster to claim this and that when all you’re going about is them. Something doesn’t add up here. Who are you really?
Heid they have a habit of accusing and attacking others who don’t share the same views as them.
Reabold Resources PLC (AIM:RBD) has questioned the validity of a shareholder requisition which seeks to demote co-chief executive Sachin Oza and make other management changes at the company.
“Having taken legal advice, the board has ascertained that the documentation as received contains several material deficiencies and is therefore not a valid requisition notice under section 303 of the [Companies] Act,” Reabold said in a statement.
Providing more detail, the company noted that shareholders "do not have the authority to appoint or remove individual directors to or from particular management roles".
"This is a general management power reserved for use by the board. Accordingly, this resolution is not a valid binding resolution," it said.
The requisition, which came last week, also proposed the appointment of Kamran Sattar, Andrea Cattaneo and Francesca Yardley as new directors of the company. And proposed the removal of five current directors of the company.
It additionally proposed Oza as director, not CEO, to which the company said "there has been no prior discussion or consultation with Mr Oza on whether or not he would be willing to be appointed as a director of the company on the terms set out in the applicable resolution".
Further, it proposes that chief financial officer Chris Connolly is appointed as a director and to this Reabold said "there has been no prior discussion or consultation with Mr Connolly on whether or not he would be willing to be appointed as a director of the company".
“A valid requisition notice of this nature must, under the articles, enclose a notice of willingness to act from each proposed director. No such notices were enclosed. In the absence of any such notices, any resolution proposing to appoint a new director is not a valid binding resolution,” Reabold said.
It added: “As at the date of this announcement, the company has only received an electronic copy of the requisition notice. The articles require the requisitioning shareholders to deliver a hard copy of the requisition notice to the company's registered office for it to be valid."
Reabold told investors it has contacted Pershing, acting as nominee to the activist shareholders, to instruct the shareholders that "if and when" the company receives a valid notice, the board will respond to it in accordance with the Companies Act and will share its views on the proposals with shareholders.
The activist shareholders acting via Pershing are, according to an 8 November statement, said to represent some 7.84% of Reabold shares. Pershing is said to be acting on behalf of a total of 13 beneficial shareholders.
Reabold, in last week’s statement, noted a previous unsuccessful attempt to gain control of the company by activist investors in October 2022.
It said it understands that Kamran Sattar was a supporter of and “driving force” behind that attempt, which was followed in April by an unsolicited offer from Sattar, v
Heid where is this kamran guy from originally?
Golightly you know more about this Italian fella than I. Quite funny that you seem to know lots about this Italian guy when I just searched him up since his involvement in rbd. What’s your motive and link here? I think you’ve just shown your hands.
Gaslighters — people who try to control others through manipulation — will often accuse you of behaviors that they are engaged in themselves. This is a classic manipulation tactic. So what’s your motive here go lightly?
“ We shall have to agree to disagree.
I agree that Oza and Williams have had their time and have bled the company dry and deserve to go.
I accept that on the face of it, replacing Cathal Friel with Andrea Cattaneo as a proposed director makes more sense. The problem is that once you look beyond RBD having an Italian asset and the fact that Cattaneo is Italian, Cattaneo's track record is as dismal as Oza/Williams. Also, what role would he play if this attempt to remove the board was successful?
Then you look to who is behind this move and KS's track record is actually really bad (look up the companies that have failed with him at the helm and he has no plc experience). Couple that with the fact that the resolutions were so amateurish and I would not be entrusting him with RBD's turnaround. “
Go lightly so you agree dumb and dumber have to go? Do you want me to email you my screenshot of my losses from RBD? Then you can understand why I’m so annoyed.
Heid be careful golightly might attack you too for having a differing opinion on how amazing dumb and dumber are. Does make me question why he’s suddenly on the offensive, a motive maybe?
Heid that is very interesting
Interesting accusations that you make there Golightly. I I had a trade pump and dump in there ages ago along with lots of other traders – posted there twice about a year ago. It’s interesting how you accuse posters of this and that because they have differing opinions to you. You have only just appeared on this board today and every post is defending the useless duo Oza and Williams. Are you trying to tell us something? Usually those that accuse are the ones doing the actual thing.
If the shell money doesn’t come within a month it really is game over.
Go lightly just read their rns they have $48 million owed to them….with a measly $500k investment that is a massive return….I just think in Italy he has some influence that would significant benefit us….better than two jokes in charge now
Golightly researching catano he hasn’t failed the Tunisian and Congolese dicked his company around…otherwise his company would have done very well with the deal making…. Also catano seems to be highly connected in Italy so if anyone is going to get us out of the Italian mess it’s him…I am happy for him to take over
Taverham they are fighting a losing battle, from the poll of 100 votes 85% want them to leave
KS and the Andrea fella will do a much better job than dumb and dumber
David Cameron was ok as a prime minister best of a poor bunch. Prefer him to suella deville.
And will it ever come?……..
Pauldeano my sentiments exactly worst government ever from rishi sunak to suella braverman and the current mayor of London makes even boris look not half bad!
Heid my sentiments exactly. This is other company is irrelevant but that Italian director has serious contacts from what I read as well as being an Italian national so everything will be smoother with him involved.
Lockedin I disagree. If our dead asset is in Italy a connected Italian is what we need to get us out of this mess. I will have no problem voting for him and KS over the current disastrous directors.
When are the votes? Has a vote been called can’t find anywhere??