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Looking like this is now moving into it's final death roll and another victim of Rowan's disastrous management techniques.

I wonder how the benefactors of the last funding round are now feeling after receiving a massive 40% discount to share price value to encourage them to give Rowan their money but it already being 20% offside??!?!

Thanks Callan for posting.

This again clearly shows Rowan should be immediately removed from his CEO position.

Not only has he continually misinformed investors on the worthiness of the permits to produce Coalswitch at Lumberton but we now get to see how totally shoddy his due diligence was before moving forward to secure the site.

It now potentially seems AEG could be held liable to clean up the industrial wastes left over from the previous owners before the site can become operational and these problems should have been easily spotted with the most simple of land searches.

We are led to believe Rowan is a Cambridge educated qualified solicitor, investment manager, corporate financier and has successfully worked at several top bluechip city firms.

However these mistakes are so juvenile in their nature I'm starting to question either the legitimacy of Rowan's CV or where the very many millions of investors funds have truly been spent.

It seems this is not the only legal case Court Judge James Dever III is having to handle. Also in his court is a case between Phil Scalzo and Daniel McCarthy Vs AEG for various breach of contracts. Both these people hold/held the most senior positions within Coalswitch and are acclaimed to be the inventors of the much talked about patented process.

Looking on the new AEG website it states Phil Scalzo as occupying the Chief Technical Officer position so seems very strange why he would want to take such action at this very delicate time in the company's growth.

Seattle trying to spin diluting the current long term and vastly underwater shareholders down another 40% as a positive step because it helps with the US OTC listing sounds as stupid as many of the statements Rowan made during this year's AGM. I think you need to urgently conduct an emergency PCR to see if you've also been infected with the very dangerous and deadly for PLC companies run by Rowan Delusionary virus.

Thanks Foolsgold for finding the BOD compensation packages for 2020. With the February £7 million and now this further £3 million I'm expecting 2021 will far supercede 2020 and for producing absolutely nothing but disaster after disaster.

The fact none of this new funding is going to be deployed into Lumberton provides final proof Rowan's dream plan was never "fit for purpose" and neither did the essential operational permits ever exist. This massive white elephant may now need to be used as a loan guarantee should the new placing fail to excite more investment.

Stifler talking about Rowan stepping aside is an incredible U turn. Perhaps if you'd listened a little closer to the ramblings from Dave Humphries you wouldn't have found yourself in this very embarrassing situation.

I agree Handwinder only a shareholder or BOD revolt can remove the CEO but Allenby were very instrumental in the £7 million cash raise at 1p which is now 65% offside & probably causing credibility problems with some of their loyal investors. After seeing the previous NOMAD calling it a day Allenby's new powers are going to be very influential in who's going to guide this currently sinking ship into the future.

Stifler I hope you realise although you may not care for Allenby they are now the LSE appointed Nominated Adviser for AEG & will have certainly checked the fuel testing results along with all other statements which the BOD releases.

Rather than eyesup looking more like pants down & getting ready for another good spanking