Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
It may be conjecture Spike, but if the BOD are professional people then that is a likely scenario. More likely than someone notionally hanging around because they have made a 0.25p offer. I understand you have a vendetta against this stock and are not invested by your own admission, but creating random scenarios to suit your narrative does not make you credible imo.
Going to have to filter toffers for a while. She's just ranting now.......
Toffers, if you had bothered to log into the AGM you would have heard for yourself the hopeful timeframe plus many other pieces of information to help assess the companies probability of a sale. But seeing as you hold no shares, you couldn't log in.
You need to stop with the Q&M rhetoric as we have all heard you. several. times. Unless anything new comes up the drum doesn't need beating any further.
If any indicated offer were too low, the BOD would tell the potential offerer to 'do one'. Therefore they would no longer be at the table or in negotiations.
From the AGM negotiations are ongoing, therefore the ballpark figures must be acceptable to both otherwise why waste time negotiating......whether a deal gets agreed or not is another story.
The court case from what I have read is a minor annoyance. Not EUA fault Q&M 'lost' their share certs, or that indemnity hasn't been taken out. I would be very surprised if this damages EUA in any way.
It would be my preference for EUA to issue a PUSU (Put up or shut up) notice to the potential buyer as DD and geopolitical impact should now be known.
Hopefully the BOD getting low votes for their resolutions and particularly low for CS re-election will be enough of a warning that some investors now expect action and better communication in future. Failure to get this over the line in the timeframe spoken of at the AGM could hold serious consequences on further resolution results next year.
Fair enough Scuba, but to me, once the Rosgeo JV expired it was gone. So to me it was not new news yesterday, others may see differently. Perhaps those who do see differently can contact the company for some sort of clarification is it is needed.
Not progressing with Rosgeo other than Nyud was known before yesterday I believe.....It was just reiterated for the hard of thinking.
Regards cash. I took the statement from CS to mean enough cash for the year. Clearly open to interpretation, but for me I took it as for the year between AGMs and is usually the case for the auditors to sign off the accounts that the business is a going concern, which means the auditors believe there is enough cash for the year ahead from sign off of the audit.
Leno, they haven't got their deal done yet have they? and I do think it is weak not to meet shareholders in person. So I stand by my comments. So quote me if you wish, but it's yet to be seen if CS can get the deal done.
Again, I think they dropped the ball not giving the info shared today as a corporate update before the AGM and voting deadline. This is a PLC, the silence beforehand forced some shareholders like me to make a stand and vote against some of the resolutions which is something the BOD could have avoided imo.
My patience also ran out in the private sale and my team issued an ultimatum to complete the deal. Deal done.
The negotiations will likely be taking place before a formal offer is agreed by both parties to be put to shareholders. The BOD will only put an offer to shareholders that they think is fair imo otherwise no offer will be put forward to vote on.
Negotiations can take a long time. I have recently been involved in the sale of a private company in the low hundreds of millions £ that took nearly three years to complete. The paperwork for that deal was extensive and lawyers and advisors can get very bogged down in the details with lots of 'to me, to you' (Barry). So the paperwork involved in EUA sale will be huge.
The options extension is hopefully an indication of when the BOD hope the deal may be concluded by, but as I stated before, can be extended again I guess. So taken with a pinch of salt and won't pin all hopes on that deadline (been there, done that). However, CS did state more than once that he is hopeful the deal is completed this year.
Cael stwffio IKN!
It's amazing what a bit of communication from the BOD can do to a shareholders sentiment. They have a long way to go yet to satisfy the minimum comms they should be making though, so a reprieve until the end of this year as far as I'm concerned.
Certainly quarterly or six monthly mining results and plans would be welcome. I asked the question if the BOD would commit to releasing this info, but the question was not answered, so its not all rainbows and unicorns just yet.
Sorry you had issues logging into the meeting Del. Saint68's list is a fair reflection of proceedings.
The options for CS and DS extended to November is interesting. They see those options as something they deserve if the sale happens. A short extension may indicate they think a sale may happen before November this year otherwise why not extend them further? Clearly they will not exercise ethics options until a deal is done.
Nothing to stop them extending again I suppose but that wouldn't be a good look imo.
It may have been sensible for CS to have done a Q&A before the AGM. This may have changed the way people voted.
I am satisfied that the information they have given points to a deal is still a possibility and sinosteel is still on the table as a backstop position. The AGM is a minuted and legal business exercise so I see no reason not to take CS on his word until the year is out.
I think the delay in the AGM results RNS is due to the results being mixed as CS indicated resolutions 6 & 7 may not be passed, which is a vote against the board. After hours is my guess for this RNS to avoid any knee-jerk reactions..
Toffers, try and untwist your knickers. Did you submit questions to the BOD?
I think the AGM was pretty good, spent a lot of time answering questions which I am quite satisfied with the answers to. Possibly the most open EUA have been with shareholders for a long time.
Not sure why Artem disappeared from the screen, but apart from that no red flags during the meeting for me.
I expect a big fat nothing burger.
0900 CS: I call this AGM/OGM open.
0901 CS: All resolutions passed.
0901:30 CS: An y y y quest ons zz z z, sorry folks bad connection.......click brrrrrrrr. END.
Same again next year but SP at 1p.