Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Deluded if anyone thinks waiting 1-2 years after the war will change the valuation. We are where we are. The opportunity prior to war was missed during the FSP. Possibly greed driven.
Eioei, how do you know that if an EGM is called there isn’t a plan? Just because it hasn’t been shared with you on here doesn’t mean that no one has a plan.
If the tax case was the reason for the delay selling the concentrate, and that would be reasonable to assume, then we should be receiving news ‘shortly’ 😆 on its sale.
Perhaps the Queeld situation does in effect trigger a timer on the situation. We know when they can claim transfer of the certificates if no one challenges and EUA were quite right not to issue new ones without indemnity.
I would be very surprised if Queeld just get the certificates and patiently wait like the rest of us. Not sure on their situation but I get the impression they may be in a distressed financial situation due to sanctions. I don’t know for sure as I haven’t researched them.
But if they are in need of funds they could either sell on the open market for ever lower amounts or challenge the company via EGM and take control to try and realise a higher price that could be acceptable to them and us, but maybe not to the current BOD.
Looks like the clock is ticking either way. The BOD would be wise to get us shareholders onside before then and provide a comprehensive update that has so far eluded us. They weren’t shy in asking for support before. Look where that got us, SP destroyed.
The shareholders are the owners of the company. However, certain shareholders (the BOD) can decide if any offer is appropriate or not to put to other shareholders.
The power is badly skewed in favour of a BOD who may not have a realistic view of what would be a reasonable offer for the rest of us.
It may well be that queeld call a EGM when they get their share certificates, kick out the BOD and replace with people they know can get the job done. Who knows.
I’m on the fence about if queeld could be our saviours or executioners.
Interesting that the BOD would make such a stipulation.
Reinforcing my opinion that the BOD is the barrier.
Times have changed. Let the shareholders decide what is a reasonable offer. If not reasonable it will be rejected by the majority. If reasonable accepted. Not difficult.
Beast, I think the only way out of the barrier between us shareholders, the BOD, and the potential buyer is if as you say there was a leak from the buyer forcing the hand of the BOD to put the offer to us. This may break a NDA but I’ve never been too convinced there are any since the FSP collapsed.
Spikey, you do not know if a binding offer was presented to the BOD during FSP. There may have been, but the BOD might not have liked it so it was never put forward to us.
The BOD are the barrier imo. Their price is possibly not aligned necessarily with our own ideas of acceptable. 46p might have been offered for example, but the BOD didn’t like it so didn’t put it forward as a recommendation to be voted on. All conjecture but my suspicion is non alignment with us or realistic in view of value.
So in your world it isn’t legitimate for a non trading, not functioning company to be suspended? This company is for sale but not in a FSP. This means it is not in a formal sale process. So what is the business doing to be functional?
If not functional I see no legitimate reason for it NOT to be suspended.
It’s clear you are fearful of such a situation maybe due to locking you in if suspended. Perhaps you got in very early and still in profit. But many like me are already locked in having bought shares at a lot higher levels than today.
The farce cannot go on and I believe shareholders should take a stand. If any offers have been received and still valid then the BOD should put these to shareholder vote. But clearly from yellow jersey response, EUA are waiting for a buyer to ‘emerge’.
Is that what this business does? Waits? Not a very good or valid business strategy imo.
You don’t get it do you? It’s not about not going my way, there are plenty of functional companies who’s sp ‘isn’t going my way’ but I would not advocate their suspension.
This is a non functioning business, it is not mining, exploring or in a FSP.
Twist things how you like. You always jump to the defence of the BOD. They do not deserve cheerleaders.
Are you taking the p155? Chinese new year??!? Any other weak excuses? The same ones get trotted out every year.
The problem as I see it is that this is not a functioning company. It is also not in a FSP. So what is it exactly?
No CEO which is bad for governance no matter how much the likes of MAC claim it’s a good thing to have no ceo. Get real.
So not a functioning company. Therefore to me should be suspended as they must be on iffy ground with London Stock Exchange compliance.
Further, yes the BOD hold substantial shares in the company. However, I do not believe they are aligned with retail shareholders. The BOD are likely holding out for an unrealistic price due to greed and wanting life changing payouts for retirement. Us retail investors, I hope most agree, just want a reasonable return on their investment one way or another.
Do not kid ourselves that the BOD are working on our behalf. The lack of communication is evidence of how we retail shareholders are regarded.
Then that shows how weak of character they really are.
Perhaps shareholders could seek a meeting at EUA head office? But I don’t think we have one nowadays.
I envisage CS spends most days in his pyjamas and silk dressing gown, and his office is a one bed bungalow in Bognor Regis.
Seems someone didn’t like something on one of the threads. Waste of time contributing thoughts if they then get removed. I do sometimes wonder if the BOD has a hotline to LSE to remove anything they do not like. If so why would LSE do it?
Palladium fell 1.97% to trade at $871.38 per ounce at 9:49 am ET after hitting its lowest price of $857.00 per ounce earlier for the first time since 2018. Platinum dipped 0.42% to $879.98 per ounce.
Good job the BOD didn't sell at a higher price....oh no wait. FFS useless.
"Christian Schaffalitzky, which oversees the day-to-day project development activities of the Company"
What project development?
Why put a drag line in if you're then not going to use it?
When sell concentrate?
Too many give this BOD too much credit. I should have known better after listening to D'mitrys interview all those years ago that nothing would get done quickly.
Slow mumbling all round.
Why wait for the AGM?
Call a EGM to get a full and comprehensive update and timeline before the EGM. Failure to receive this to result in CS being voted out (lots of votes against at last AGM)
How this isn’t suspended without a CEO is beyond me. Remember CS and co have a feduciary duty to their shareholders which with the lack of RNS undates I believe they are failing to live up to.
Cadbury must be rubbing their hands together with glee at that deal. Yesterday I bought a ten assorted box of grenade bars for £21. I bet the BOD of Cadbury never dreamt they could sell at retail individual bars at £2.80 each. (Clearly £2.10 each in ten pack)
THG is undervalued on any metric apart from FCF and profitability. But this is still in the growth phase so a valuation based on multiples turnover would be fair but this seems to be too low currently imo.
Problem is that the AGM is in July, so a bit of time before we can vote her out, as long as she is up for reelection.
Unless we can get together enough shareholders to request a EGM. Agenda with one point, Vote on if she stays or goes.
Can't rely on Naheedouts or Legalwolfs shares because they haven't got any.