Member Info for leah16

Bids had to show financial substance by 23 June. I know there was a RIG bid (together with a linked "class action") but I wonder if anyone knows how many bids are still involved? I am not on any of the RIG sites.

The correct result for shareholders is that the SISP is given its best value to fairly benefit all existing good faith stakeholders - preferably on a restructured basis so that all of the original shareholders of the UK entity benefit from future returns following the dreadful mismanagement. This is similar to what the 7% shareholder group in Cineworld is arguing in the US bankruptcy protection court proceedings to avoid an under-valuation in that restructuring to suit creditors but where shareholders would nothing. (See May 25th business news.) This is our best option in Canada if the mine is undervalued and we all lose out. If the UK Parent is liquidated we need a court appointed liquidator who must legally immediately remove and investigate the directors under a compulsory liquidation.

The correct result is that that SISP is valued properly to benefit the shareholders - preferably on a restructured basis so that the original shareholders of the UK entity benefit from future returns following the dreadful mismanagement. This is similar to what the 7% shareholder group in Cineworld is arguing in the US bankruptcy protection court proceedings to avoid an under-valuation in teh restructuring to suit creditors but where shareholders nothing. (Last week's news.) This is our best option in Canada but no-one has realised this. If the UK Parent is liquidated we need a court appointed liquidator who must legally immediately remove and investigate the directors under a compulsory liquidation.

Thanks. I have now joined.

Hi there -I am involved on the RIG Facebook page but I am not in any other group.

Vote AGAINST "voluntary liquidation". Also vote AGAINST appointing the liquidators recommended by the directors. Liquidation is terrible outcome for shareholders.

If there ends up being a "compuslory liquidation" that is much better for us because the Court will run the process and not the directors who have mismanaged this company and publicly misled us into investing just before declaring insolvency. The Official Receiver will then fully the directors and their conduct.

There are many ieological similarilties with the bankrupt copper mine in Canada. Super-power project sponsors and management team using the cover of a public stock exchange to deceive innocent inviduals and plunder their savings invested in good faith based on overtly fraudulent misrepresentations.

You should also email rambler@btguk.com - its the new address they are now giving.

Yes, we must all vote AGAINST the voluntary liquidation and the appointment of Begbies. Whatever they say to try to persuade us to vote to voluntarily liquidate it is the absolute worst option for the independent sharehlders. It only helps to protect the directors. If you voted against the liquidation in the original meeting then your vote will still count unles you change it. You should email rambler@btguk.com to check that your original vote was received and still counts.

My broker, Hargreaves Lansdown, have assured me that they will chase things up to ensure that they provide what I need to have full access to the meeting on 23 May and the voting. I have also chased the proposed liquidator, Begbies Traynor, and they sent me a PDF of the "letter to shareholders" (which is posted on the Rambler website under "press releases"). They say they have now sent this to all the registered shareholders - but my broker has not received anything yet. You will see that there are two "remote" meetings planned - one pre-meeting on 15th May and then the voting metting on 23 May.

Please vote AGAINST against the voluntary liquidation on 23 May because - whatever anyone says to us - it will only serve to protect the directors and will leave us in the worst possible position. We must do everything we can to keep our investments alive until the Canadian position is sorted. If the creditors choose to liquidate our UK Parent Company then we will have to accept that but we, as shareholders, must not initiate it.

If any of us is prevented from voting or attending because of confusing and impossible hurdles we should challenge the validity of the process.

I have been communicating at length with my broker, Hargreaves Lansdown, and they have now assured me that they are actively chasing the custodian to ensure that I have full access to the meeting on 23 May and the voting. I am also chasing the proposed liquidator, Begbies Traynor, who are running the meeting. Please keep chasing your own brokers AS WELL AS Begbies Traynor to get whatever is needed to exercise your vote against the liquidation. Begbies email details are as follows:

as-team@btuk.com (full team), paul.cooper@btguk.com (Paul is the lead partner), james.allen@btguk.com (James is assisting Paul).

Begbies have said they will send all necessary info to enable shareholders attend / have their say and vote. If any of us is prevented from voting or attending despite our requests we should challenge the validity of the process.

Please DO NOT give the Chairman a proxy to vote on your behalf as they will just vote your shares in favour of liquidation to protect the directors who have already mismanaged the business.

I am happy to update you on anything when it comes in.

As "outsider" shareholders, we must all please actively vote AGAINST a resolution to liquidate our UK Parent. There is absolutely no upside for us to vote to voluntarily liquidate the UK Parent (and probably lose our entire investment) before the Canadian operating subsidiary sale process or other restructuring is fully completed and we know our position with more certainty. We must act in a co-ordinated way to maximise our say. If the creditors of the UK Parent put the Company into compulsory liquidation then at least it will be a court-appointed liquidator who will investigate the management team independently and we will have lost nothing. I dont know why they would do this until they know the outcome of the Canadian process. We must stay in the game as long as possible and at least we keep alive some hope of a co-ordinated recovery from this apparently productive but mismanaged mine.

The voluntary liquidation was proposed by the directors to protect them from more personal liability, and this liquidator has been appointed by the directors themselves. We owe it to ourselves to keep our investment alive as long as possible so please actively vote against AGAINST liquidation (don’t just abstain).

Please keep hassling your own broker AS WELL AS Begbies Traynor (who are the proposed liquidator) to get whatever is needed to exercise your vote against the liquidation. Begbies contact email for this matter is as follows:

as-team@btuk.com

Please DO NOT give the Chairman a proxy to vote on your behalf as they will just vote your shares in favour of liquidation.

"andmillsy" and "Iluvise68" - many thanks for your nice responses. I look forward to working with everyone on RIG to try to use our collective strength of purpose to fight our corner as best we can!

Agreed. I have made clear in a secure message to my broker, Hargreaves Lansdown (who have been hopeless throughout) that I MUST get ALL info for the next meeting. Begbies also have my details (and I attended the first meeting) and they have "promised" to give me all info. They are the ones running this process to you would indeed be well advised to contact them via as-team@btguk.com. For your info please see below my message account sent on Wednedsday to Hargreaves - no reply (of course:

Re: Rambler Metals & Mining meeting - 03 May 2023
Urgent attention – Rosie Hargrave – Corporate Actions

Dear Rosie / Corporate Actions Team

Please note that I was eventually able to access the shareholders’ meeting this afternoon after an unacceptable lack of information flow and inability to get details for attendance despite my numerous requests. The Company’s advisors reported that there had (understandably) been an enormous amount of toxicity and mistrust by shareholders for lack of information reaching them through the various nominees / custodians etc.

The Company and its professional advisors therefore decided to ADJOURN the meeting until (approx) 23 May 2023 and to make sure that FULL INFORMATION reaches shareholders for proper consideration prior to that meeting, as well as details of how to attend. There may also be an earlier explanatory meeting for shareholders set up by the Company and its advisors because the situation is complex and the shareholder vote on whether or not to liquidate is so critical.
I therefore urge you to please ensure that ALL information you receive for shareholders in Rambler Metals & Mining PLC going forward is shared with me promptly, fully and accessibly.

I would be grateful if you could acknowledge this request by return secure message as this process affects a significant amount of personal savings.

Regards.

On Discord I am Leah16#8898
I am only in at the main "home page".

Im in on the main chat page.

OK I'm in on this page https://discord.com/channels/@me

Thank you - I am not in "RIG" and I only found this forum today. I would be delighted to interact with as many fellow independent shareholders as possible, so that we use whatever leverage we have to try to save our investments in the light of the misinformation / mismanagement that has placed us in this chaotic situation. If you let me know how to join RIG I would be delighted to join and share these messages.

Hello - you will be able to vote again, so don't worry. It took a monumental effort to get any information, including the critical financial report which had been prepared for creditors (which was only sent to shareholders who fought their way in) and it was a totally stressful battle to get the access link to attend the meeting yesterday (no meeting time was sent with the link and I had to find that out myself). Hargreaves Lansdown (as nominee) hides behind the custodian and the custodian blames the registrar, etc etc. It was totally unacceptable.

Anyway I think that this time the Company and its advisors will be trying to ensure that info gets all shareholders. The directors proposed the liquidation to protect themselves, but as shareholders I believe it is clear we must actively vote AGAINST any liquidation and try to hang in there for as long as the Canadian process continues!

The shareholder vote to liquidate was temporarily adjourned - apparently to enable shareholders to be better informed. In any event, it is clear to me that we, as "outsider" shareholders, should actively vote AGAINST any resolution to liquidate our UK Parent. There is absolutely no upside whatsoever for us to vote to voluntarily liquidate (and probably lose our entire investment) before the Canadian operating subsidiary sale process or other restructuring is fully completed and we know our position with more certainty. We are right at the bottom of the pile in which any recoveries will go to the secured and preferred creditors of the Canadian entity, and to the management team who failed us and who themselves have some "preferred" claims, and to all other creditors of the group. But if we actively vote against liquidation (and it fails to reach a 75% positive vote) then at least we keep alive some hope of a "restructuring" or recovery in this apparently productive but mismanaged mine and we prolong the life of our investment. In the meantime, it is true that the creditors could put the Company into a compulsory liquidation in which case there will be a court-appointed liquidator chosen by the creditors who will independently investigate the Company and its management - and any extra costs won't hurt our pockets as we have anyway lost everything. I am actually not sure what it achieves at all for the creditors of the UK Parent to instigate a costly compulsory liquidation too soon, before realisations from Canadian subsidiary are clearer – because they too will lose everything and the heavy costs will come out any realisation, they could have achieved for themselves.
So please actively vote against a voluntary liquidation because it can only logically harm us as independent shareholders - it was proposed by the directors to protect them from more potential personal liability and we don't have any duty to vote for it unless we think it will help us individually to liquidate. We owe ourselves a duty to keep our investment alive as long as possible so please actively vote against AGAINST liquidation (don’t just abstain) if the motion is put forward again.