Member Info for legache

You vote how you see fit, but the only way this is getting through is if not enough shareholders vote, hence the 31st of December meeting. Absolutely scurrilous.

The fact we won't be subject to it!

WWithout being listed Aelph can exert greater influence over the board and operations with fewer regulatory constraints... carte blanche if you will.

We also won't have the same transparency and reporting requirements.

Why would any minor shareholder be in favour of letting Aelph et al have more power. They already have too much.

Read up on the takeover code, Ned...

Whats annoying here is they should have liquidated all of egypt by now... the value should have been dispersed to shareholders or reinvested after paying down debt, instead we're stuck in a situation where aleph will fleece us [knowing well they could never force through a raise at these prices]... vote against folks, force management to take other route -

1. Sell the rest of Egypt assets.

2. Use the proceeds to pay off Aelph.

3. JV with a partner in Morrocco.

Simple.

Aleph Commodities Ltd & directors of its group companies 17,003,563 8.31%

Rath Dhu Limited 16,000,000 7.82%

Transact Nominees Ltd* 15,630,513 7.64%

Parsimony Limited 13,337,511 6.52%

Gipson Family 12,324,000 6.02%

IntegraFin Holdings plc 11,878,592 5.81%

UBS Wealth Management* 11,694,561 5.72%

Mr Krassimir Katev 9,428,580 4.61%

Dr Valerie Brackett 8,370,150 4.09%

Hargreaves Lansdown* 7,431,387 3.63%

D'Amore Family LLC 6,666,667 3.26%

The answer is they will try and convince us we should vote for it.

Don't belive it.

Ned, you're a clever man, clearly. There is a material risk, if taken private, that the larger shareholders would dilute / purchase on the cheap the business. If you cannot see that, then I'm afraid you should not be investing in AIM.

Vote against, and try and get as many as you can before the vote.

Depends how you define the word "growth", ned. No point in the business growing if we small shareholders cannot share in that growth.

Ned, the point about AIM is fair enough, BUT, one of the reasons for low liquidity is the communication and progress we have made in the last couple of years. They only have themselves to blame for this.

I am also not selling a single share and I will try and buy some more to get the maximum vote against this daft idea.

So the takeover code doesn't apply?

Can't

Surely between now and Jan, there is someone who will launch a bid. Wheres the 4 million Egypt cash... I hope the FCA is all over this...

Sorry Ned, you're completely wrong, this is a very foolish idea for the majority of shareholders. I can imagine that enough turkey's will vote for xmas.

Nil Desperadum

I think you might be wrong on this Ned. AIM affords us minor shareholders certain rights [i.e. the right not to be diluted without a vote]. Thankfully I have read that they will need a 75% majority to get this through, which seems very unlikely.

Aelph do not have the votes maestro, they own 8% plus through transact another 8%, now where near enough unless they are acting in concert

Only if "we" vote for it. Aelph doesn't have enough shares to sweep this through. We need to coalition of shareholders to stop this.

I'll be voting against - like you say - a chance for them to take us out on the cheap.

Many posters on this board wanted PB to go and have done for some time. No he has, there's a sense of loss.

Odd.

Too early to say if we can break this trend, but this is a compelling proposition that has a very bright 2025 ahead if they keep delivering to circa 20k bopd plus. You do the math!

Going to take something fundamental to move this. I'm hoping we can get rid of Egypt for a nice price, cash hitting the bottom line would make this bounce very strongly.

Nil desperandum Zebbo, the RBL was always going to peak in 2024 and then be paid off rather rapidly as revenues from Akatara alone will exceed 100 million USD per annum in 2025 and 2026... DYOR its an exceptionally good investment.