Member Info for leanintoit

Too many shares issued at lows for management and employees will not help the cause. The Boards needs to be mindful. I

Read and weep.

Tom Richardson, Chairman of Fenikso is also a Director of Coro. The directors (other than Tom Richardson) confirm that, having exercised reasonable care, skill and diligence, the related party transaction is fair and reasonable as far as the shareholders of the issuer are concerned.

Tom Richardson, Chairman of Fenikso is also a Director of Coro. The directors (other than Tom Richardson) confirm that, having exercised reasonable care, skill and diligence, the related party transaction is fair and reasonable as far as the shareholders of the issuer are concerned.

it has begun!

Agree

The Board is challenged. New Chair a lightweight. Maybe activists inject strategic focus and operational improvement. Positive Cashflow please

Oh dear. The gravy train is about to leave the platform. Apparently shareholders have agreed to let Board and advisors pay themselves for ventures in the future, none of us to know what. Or how much. Instead of paying shareholders back with the Lekoil loan repayment receipts they are going to use shareholder funds to speculate on ventures shareholders have no idea they have any skill set in! What can possibly go wrong? Fraught with conflict. Abandon ship, all ye who tread here. No-one looking out for the small shareholder. No regulator worth mentioning. Oh dear. The wild, wild west.

Agree. That’s what’s worried me ever since they got involved. Gravy train riders. Maybe one day they will get their just deserts!!!

Are you happy that this unproved non operating entity uses money they could/should give back to shareholders to go do whatever they want?

Why not just put long suffering shareholders out of their misery and funnel all receipts as dividends so they/we can recoup some of what’s been wasted?

Don’t think the guys running this money making scheme are Nigerian (other than Savannah). Brits, Kazakhs, Italians,Greeks. Claim now have stabilised things but…..

Like a South Sea bubble company. RNS and results state raising cash to explore options the Board will determine. Company set up to do something, shareholders not to know! Why not just pay us dividends? Give us our money back. Who needs expensive corporate/Board structure? Especially as all shareholders want is money back not speculative investments by an untried, untested, unknown, unappointed conflicted management team and Board. Give us our money back!

Like a South Sea bubble company. RNS and results state raising cash to explore options the Board will determine. Company set up to do something, shareholders not to know! Why not just pay us dividends? Give us our money back. Who needs expensive corporate/Board structure? Especially as all shareholders want is money back not speculative investments by an untried, untested, unknown, unappointed conflicted management team and Board. Give us our money back!

This is a funny one. Owed 50 million and to pay back Savannah 12 million and the have 4 million cash on balance sheet. Surely something very wrong? Where has the other 35 million gone? Smells dodgy

BoDs asleep at the wheel

Outgoing Chair Barry Gibson had 5.36% votes against him. Just as well he's going. More worrying is new Board member Ron Kramer has 15.34% vote against him. Hardly a strong endorsement. Wonder what the shareholders who voted against him know and should we be worried? Not impressed by Virginia McDowell 4.13% votes against either. This Board really needs to step up to gain shareholder confidence. A new CEO with relevant experience and a good reputation and from outside the company would be a start. Wish they would live up to their fiduciary responsibilities.

Yes. very odd it has taken so long to find another CEO. Maybe old Chair was the block? Him going probably a positive, but concern new Chair is an insider and will be same old same old. Need new CEO, New Board, New Chair, new strategy.

Have they made any announcement on a new CEO hire? Whats taking so long?

Have he Board paid out dividends yet?

Can’t wait to see if this Board is any better than the last in honouring its commitment to shareholders and managing jts cost. The base is low. The hurdle is low. My expectations are low. I would love to see me proved wrong.

Seems to have been weak since dilutive expensive Polish acquisition. Have management learnt the lesson? Will they continue to pursue growth at all costs? Or will they finally try focus on running the business efficiently and profitably and in the interest of all shareholders?