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Shareholders,
remember to instruct your broker to cast your vote tomorrow as the deadline is Friday 10th Jan to receive votes. For the benefit of all of us, keeping Zhang and Ma on the board, with their 2019 business plan is the only choice.
7zzzzzzz - I don't think this is the truth. You have to remember that since Hogan, Zorbas and Lyth have had the board, Mr Zhang and Ma have only 2 votes out of 6, so they cannot win anything. The Board is only looking at "deals" whcih have connections to Zorbas/Hogan businesses (Spain and Leinad), which seem to not benefit us, the shareholders, but rather, the two of them, with some kick-back for Lyth.
We have such a huge coal asset, that we should keep this the focus. However, as Mr Zhang and his associates are the only directors on the board with experience in this sector, you can see why Lyth, etc have dumped the project.
Nothing will come of Lyth's "projects" except more dilution for shareholders, and we are wasitng 12 years of research into coal and latterly, UCG. I believe the Chinses directors, if allowed, can make this work finally
Tomorrow I hope to be in possession of information regarding Mr Zhang’s strategy for Altona for 2019 and thereby the definite need to keep him and Mr Ma (Sino-Aus representative) on the board. I will hopefully be able to share this with the other shareholders who are asking which way they should vote. I for one, do not trust the recent “schemes” announced by the CEO and his associates, as they haven’t yet, and surely won’t, ever add up to anything.
We only need 51% of the votes cast at the GM to defeat the resolutions, and not 51% of the shares in issue. A big difference. Zhang and Ma have 22%, and many PIs are going to vote against. Hopefully we will hear Zhang’s plan for 2019 next week.
This is the latest I could find and should be a true reflection: (source: alpha terminal) Zhang Qinfu (Wintask Group) 15% Eaton Equities (John Zorbas)13% Leon Hogan 13% Chi Ma (Sino-Aus) 6.4% Nicolaus james Lyth 0.26%
All If your shares are held by your stockbroker in a nominee account then you need to speak to them and give them your power of attorney to vote on your behalf. This is done by submitting a form of proxy. It can also be done using the CREST voting facilities but you will need to check with your stockbroker to ensure the correct method is used. It happens all the time and the process is not difficult. Don’t lose your vote by not being prepared.
An AIM board needs three things to run a company successfully: 1) relevant sector experience, 2) independence to ensure decisions are balanced and 3) diversity to bring new ideas into the company. If Zorbas and Hogan won this vote then Altona will have none of these things. Altona becomes a lifestyle company where the directors get rewarded and shareholders do not. It cannot happen, so we must ensure Messrs Zhang and Ma remain on the board to keep the company from making more poor decisions.
My bad. They have just appeared. Sorry to distract from the thread.
Has anyone else noticed that a number of posts over the past few days have disappeared? There seems to be large gaps between the days.
I'm tempted to vote against this proposed resolution and keep Zhnag and Ma on the board. They have invested heavily in the past (through Sino-Aus and Wintask) and have more cash (and probably business sense) than Zorbas and Hogan, so they might be the best choice for shareholders in the long-run.
It seems to me that they have been asked to leave the board but have decided they would prefer to stay (unlike Mr Sutherland), forcing this highly disruptive board squabble. I'd be interested to hear Zhang's view point on this, so I will email him.
I believe the Chinese are still the largest shareholders, so if the PIs got behind them, we could defeat this resolution. Without them, there would be no balance on the board, and Altona would become another 100% Zorbas enterprise.
I'd be very interested to hear other view points before I make my decision.
Hi - it’s Christian from Leander. I reported Yasx to lse as he was offering information which wasn’t true. His posts will be monitored from now on, but please try ignore him as he isn’t a shareholder in Altona and doesn’t seem to have any interest in the operations of the company, just a vendetta against certain shareholders.
Hibbz - What they DON'T HAVE is PELs - this is why all this trouble has come to fruition. If they had the appropriate PEL then the UCG operation would have commenced by now. As they didn't acquire the right licence back in 2012 (SAPEX bought it), they are back at conventional coal mining (albeit on a smaller more affordable scale). DYOR as your advice said. They do own 3 ELs which they will hopefully convert into actual MLs. anyway, enough of this and I hope you are enjoying the ride.
Sorry to crash the Sabien board, but John Gunn, CEO of Inspirit Energy was on the AIM Show on Share Radio last night and he makes some interesting points about the UK boiler industry that may be relevant to Sabien investors. https://audioboom.com/boos/4422618-listen-back-to-our-aim-chat-w-ceo-of-inspiritenergy-manufacturers-of-microchp-boiler-systems-set-to-revolutionise-the-energy-sector
Morning All - here is last night's interview with John Gunn on Share Radio's AIM Show - he makes a very clear case for Inspirit and its boiler. Always interesting hearing a CEO speak about his business as it adds the colour that RNS miss! https://audioboom.com/boos/4422618-listen-back-to-our-aim-chat-w-ceo-of-inspiritenergy-manufacturers-of-microchp-boiler-systems-set-to-revolutionise-the-energy-sector
Always nice to see a new telco stock come to AIM - they are so few and far between these days. I can see where this stock might fall down (It's a Mobile Content Aggregator in a country where the mobile market has moved onto mobile internet / 3G), but also looks like a cracking opportunity in Thailand where 3G (and also Smartphone) penetration is down at 40% therefore everyone is still getting their new ringtones via SMS text - which is just what Macromac does. If they expand into other countries like Indonesia, etc then they can quickly add a billion potential customers to their pool. That's why I like it and bought some on day one at 12 pence. Now sit back and enjoy the ride!