Member Info for mcco

Manyana,
You seem to imply that the APEC money is contingent on our getting the licence/approval.
The RNS refers to compliance issues by the transmitting bank ( HSBC) which presumably concentrates on money laundering checks. If there is a condition that the Approval is in place before the funds are transferred, the Bod are seriously misleading in the RNS, and I don’t believe that to be the case. I expect an RNS this morning to confirm that the funds are in our account, or a full explanation if they are not
I am not in your league as an investor; my investment limited to twenty grand with a current value of about 2.5 k euro

The volume of shares being traded is tiny, although SO could be selling off market
Small holders seem to be frustrated by lack of news and are selling at these prices. News is taking longer than expected. One would have thought that HH’s nominees would have been appointed by now but maybe they have to divest themselves of other positions to avoid any conflicts of interest. When news does come, expect an uplift in the SP

According to the table of share transactions, the last purchase was on 25th June.
That surely indicates the confidence of potential investors in the Board of Directors - ie zilch.
The current SP is a fraction of the underlying assets and one wonders if it is a deliberate policy of the Board to keep the SP at such a low price. Sadly, I along with others do not have confidence that the Directors are acting in their legal fiduciary duty to the shareholders

Maybe not a contradiction. Consider this as a possibility:
1 APEC instructs HSBC to make the transfer
2 HSBC confirms that it has put this in hand and gives a date for the probable date of receipt
3 APEC forwards this confirmation to PVR

This seems quite logical to me. We should know by Monday morning if the transfer has or hasn’t been received. If it hasn’t, we need to be given an explanation
Note that the Board does not ‘envisage ‘ an extension; that does not rule one out altogether

Did you ever get a reply from Phronimos?

As a shareholder you cannot take an action against the company as you would in effect be taking an action against yourself. Sadly the only practical way is to seek to vote the Director(s) off at a General Meeting and we’ve seen that hasn’t been successful in the past
I’m no longer a holder here, but the only chance I see for those holders is for a white knight to appear , but even then I can’t see the Prof selling. I am also very doubtful that the Clontibret area will ever be mined with anticipated local and national opposition. Remember Corrib and the estimated 3 billion euro loss

Am I missing something? Today’s RNS reads well, but the SP has only moved marginally upwards with only one small buy and some sales
I would have thought we would have had a significant boost to the SP. Maybe later today

There’s now an over 20% spread, 18p bid and 22p asked, with one small sale at under 19p.
Very little volume, but if I had some spare cash I would seriously think of adding and lowering my average entry price. The Sheikh and his advisers will not allow him to be humiliated after publicly declaring his ambitions for this investment, imo
It may take a little longer before we get news; maybe he’s consulting with the Chinese and maybe he’s waiting for Stefan to divest himself completely of his shares before announcing his Director. Only conjecture of course

I’ve got confidence in this company and bought in a year or so ago. However I haven’t been encouraged to invest further as I don’t know what’s going on. I’m down 40% and thinking of averaging down, but not sure at the moment if I should throw more money into SAE. It looks good but seems to lack positive sentiment

Good to see that Simon To’s Company bought a further 130,000 shares at 85p (although this doesn’t show up in the share dealings listing) and 1million shares were bought in an after hours deal on Monday

CON,
In my experience, votes in favour of and against a resolution are announced at the Meeting and subsequently in a statement to the Exchange
I don’t know if a simple majority were required to pass a resolution or 75%, but on the assumption that it was a simple majority, the Sheik would have required a further 20% of independent shareholders, and these would presumably be the Chinese. It would be good to know
In spite of all the guff expressed on this Board, it’s surprising that no contributor appears to have attended the EGM

CON,
In my experience, votes in favour of and against a resolution are announced at the Meeting and subsequently in a statement to the Exchange
I don’t know if a simple majority were required to pass a resolution or 75%, but on the assumption that it was a simple majority, the Sheik would have required a further 20% of independent shareholders, and these would presumably be the Chinese. It would be good to know
In spite of all the guff expressed on this Board, it’s surprising that no contributor appears to have attended the EGM

Would have thought the RNS warranted a lift in the SP; I suppose it’s early yet, but hopefully we’ll turn blue before the day is out

I agree that if the UK crashes out of the EU without a deal on the 31st October, which seems even more likely every day, there will be an enormous write down of ALL share prices. However, that decision should not affect EZH business too much, and any drop in the SP should be a great opportunity to top up or simply invest here
Remember, we have hotel interests in the EU and not all users will be British
I’m not adding at the moment, but am keeping a close watch on the SP as I see great value here, but for the longer term

I agree that if the UK crashes out of the EU without a deal on the 31st October, which seems even more likely every day, there will be an enormous write down of ALL share prices. However, that decision should not affect EZH business too much, and any drop in the SP should be a great opportunity to top up or simply invest here
Remember, we have hotel interests in the EU and not all users will be British
I’m not adding at the moment, but am keeping a close watch on the SP as I see great value here, but for the longer term

Spread of over 20%
No response to concerns expressed by Phronimos in February
Has anyone tried to contact the PR people or the Brokers?
Must be one of the worst companies on the exchange for communication. Complacent arrogance

Tooold ,
Don’t forget that the Sheik’s friends can’t buy if they are acting in concert with the Sheik, as that would bring their combined shareholding to over 30 percent

Yvonne suggested that outgoing executives may be encouraged to divest themselves of their shares as a precondition to a severance deal, but that doesn’t appear to have happened yet concerning SO as there has been no RNS about a change in Directors’ shareholdings

Seems that someone bought about 111,000 shares for about 33k on Friday pm

It was understandable that the SP rose on the consolidation and the appointment of HH with the name change, but it is difficult to understand why the SP has fallen back since then; nothing has changed. Maybe just very short term gamblers who have taken their profits. Fair play to them, but they do mess things up for the longer term investors. They also give us a chance to buy in at these prices. Longer term, this is a great investment at this level. HH will not be messed about. He has taken a personal commitment and I reckon the Nigerians will respect that
This will pay dividends for the longed term holders