Member Info for Moljen

Rob - oh dear another Prem sycophant who talks out of their rear end without having the slightest clue but as I'm in a remarkably benevolent mood I'll even spoon feed you the relevant section from the Company's articles:
6. MEETINGS AND CONSENTS OF SHAREHOLDERS
6.1 Any Director may convene meetings of the Shareholders at such times and in such manner and places
within or outside the British Virgin Islands as the Director considers necessary or desirable provided
that once in every year the Directors shall convene an annual meeting of Shareholders (the “Annual
General Meeting”).
6.2 Upon the written request of Shareholders entitled to exercise 10% or more of the voting rights in respect
of the matter for which the meeting is requested the Directors shall convene a meeting of Shareholders.
6.3 The Director convening a meeting shall give not less than 14 clear days’ notice of a meeting of
Shareholders to:
Anybody else who doesn't know their arse from their brain and needs spoon fed?

Probably more use than a finance bod at the minute tbh, have to know what's there and what's needed to fix it before could even contemplate financing it. Afraid must be 99% bottom draw this and sometime in a few years you'll end up with shares on some unheard of exchange or in a private company a la TTAU (prev STGR) or NYO

Not gloating for being correct again but a few weeks ago I did suggest shareholders needed to write ensuring AGM was in the UK the reasons by now should be apparent.
Unfortunately too late for that now unless everyone of you bombard Michael Foster and cc in a regulator, nomad and anybody else and request for it to be transferred to the UK due to teh extraordinary information coming out. Unlikely it'll work but possibly worth a try.
However what all of you can do is oppose resolution 1 being the reappointment of Russel Swarts, if the group still exists they've a holding, and through a name I won't mention as it may upset some I can make contact with Mr 55M and a few others who may still be holding similar. Download instruction form on Prem Site, afraid you'll need to approve 2 (share cap increase) and send it in. Suggest you have somebody to set themselves up to receive copies just in case there is a calculator issue at teh AGM. Also then drop MF another email telling him you've done so and propose somebody else for this position. Again between you, you'd need to find somebody with the time and financial background (not me just taken on another role) to be nominated who'd do it for little salary.
Then with same shareholding group call for an EGM.
Sorry other pressing matters mean I cant help more but you would always get my 13 or so million shares supporting. I'd suggest Chippy if he had the time, seems to ask sensible questions and have an understanding of the financial side.

Not yet, close though, not too much longer to wait I'd say.

Can't remember seeing you here before so if your first post an I say what a very good post - for any newbies wise words about Aim Shares and BB's.

Loan Company are going to have a million squid of our shares to sell but we can see from the volume there's no market for them, they also had a loan from a 3rd party so no need to sell imminently. After the AGM they'll be holding just under 20% of our share capital. We have some loan repayments coming up for payment (from what??) so perhaps the loaner may take shares in payment - what sort of %?? After the AGM we have another billion or so shares GR can dump .... share price at this point and who will buy them (another %) and then there's whatever is unpaid to GR and others for their sterling work which can be converted to shares. Perfect excuse for all these % to come together and because of the low share price make an offer for the whole lot and walk off with the goodies, say 30% above weighted average price etc, what's that 0.006 . Not like it hasn't happened before a la TCT . Far fetched??

Just out of interest I've checked back what I was posting a year ago on Prem and the 17th July 2018 was a busy day but one of mine then was ....
Nothing wrong with your post, think most people with prior experience now accept this is up there with the dodo as far as a comeback is concerned and quite rightly have written it off. Think it's going to take some other people a little longer before they impair their investment here, based on some of the name calling and insinuation also think a few of them are in deeper than they care to wish.
.... what has changed in a year, my view No, rampers name calling No, Prem operationally moved forward No, Share Price Yes (get in there son! ****** it going down by 76.47% means NO would be good answer for this one), GR's cumulative wage and other benefits Yes (calculator not big enough for me to quantify).
So to all the bleeding hearts whose feelings I'm hurting, tough luck. I'll keep calling what I see as a spade a spade and if just one person in the last year has heeded my point of view and not lost money on this PoS then it's worth it.

DJ - no it's still worth something but last time I checked inflation was running at 175%, doesn't take long for something to be worthless at that rate. All those lovely unpaid US $ plant rentals and Mgmt charges would have been converted to Zim $ which are becoming less value each day.
As to Zim Govt comments, I give them less reliability than the Breixt comments over how much we'd have for the NHS and we all know how they turned out, just political BS

Chippy - PMSL with that one, yeah sure we'll be able to raise a surcharge on the Zim Govt. Think that's a likely as the "vital sources of income" being of any real use.
Honestly - electricity but there isn't actually being generated to begin with and half an hours research will let you know there aint going to be any quick fix in that respect so what use is it to us.
No decline shaft - well even with electricity still no evidence RHA would be profitable
Zulu - despite BP's assertions we've got diddly squat, some internal calculations so it's right at the bottom of the hill in proving up a resource.
Always said when I see anything positive I'lls ay but at the minute IMO people are cheering because the deck chairs on the Titanic are being rearranged.
Anyway doesn't matter whether my opinion or anybody else is correct the share price is the ultimate arbiter. Is that seems I see back in the 3's, lets see how much they are by the end of the week

BP - Have you ever considered the possibility as RHA is in Zim and the agreement is with the Zim Gov the Management Agreement and rental agreements are now in ZIM $ RTGS?
If they are (been informed they are so check for yourself with the Company) then they're worth best part of diddly squat which would make your "vital sources of income" statement a bit erroneous.
Hey ho it's Prem and the wool is easy to pull over some people's eyes

Hi Chippy, perhaps I was too subtle!

M2210 - aka jam tomorrow based on what doesn't appear to be reality of the situation being the relevant Zim Minister saying situation is dire and the article detailing the 18 hour power cuts. Obviously just IMO based on those two which is no working connected power in the foreseeable future therefore funds will need to be raised to continue in existence and not just the forthcoming one as after the loan shares are issued there will be about $350K left which in mining terms is nothing.

GG - looks like we agree, being fed multiple lines which do not stack up in them afce of reality.
Roll up, roll up the gravy train is still being prepared for boarding destination cloud cuckoo land

Jury out? https://www.businesslive.co.za/bd/world/africa/2019-06-18-ailing-zimbabwe-reels-as-18-hour-power-cuts-bite/

Miners are being asked to import their own power!!!

Verdict - guilty of producing verbal diarrhoea for other purposes IMO

I'm afraid is my view of all this.
First issue is electricity in Zim - I've previously mentioned issue with the hydro and grid which is still showing no signs of recovery as indicated in the following ...The electricity situation in Zimbabwe is now dire and has "graduated from being a challenge to a very, very big problem," Energy Minister Fortune Chasi said on Monday.
Second, even when then jam arrives we haven't enough cash for the bread to put it on ... just read the RNS to confirm
Based on this to me it's just pointless words and from a practical point of view means SFA in terms of RHA progressing for the foreseeable future. A cynic would say it's been issued to support the AGM resolutions and only confirms what I thought yesterday that the AGM placing is just the first of several so fully expecting us to be back on downward trend in the near future.

Can't remember who asked but here goes and hopefully it is something you can really get your teeth into. Now I'm not a lawyer and this Company is subject to the British Virgin Islands Business Act and not the Companies Act but as far as I can tell they are similar in many ways. Now under our Companies Act Directors retiring by rotation is defined as: "At subsequent AGMs those directors who have been appointed by the existing directors since the last AGM and those who were not appointed or reappointed at the last two AGMs are required to retire by rotation."
In plain English, if you are a new director in any year you need to resign and be re-elected at your first AGM. After this reaffirmation you need to redo it 3 AGM's later if you're still a Director.
So in Prem's case back in 2013 every Director including GR resigned at the first AGM and at every AGM ever since we've followed the rules above, however one Director has never put himself up for re-election. Guess who?
No in the BVI Act there is mention of exempt persons however with his resignation in 2013 he obviously isn't one of those so the $6M question is whether the BVA Act retirement provisions are the same as ours and whether GR should be putting himself up for re-election. Perhaps a little pressure on the Nomad, direct to M Forster, the FCA and obviously the Company itself to answer this question might be a worthwhile avenue to pursue. Oh and the other bit of help - you really want the AGM in the UK, in the company's articles there is no reason why not, perhaps when you're asking the Chairman for clarification on the Directors retiring by rotation question you may want to remind him as to the exceptional circumstances of the company and why as Chairman of the Company he is not insisting teh Directors vote for it to be held here.
Hope that was helpful to whoever asked, wasn't Jessell I know but maybe he's even smiling. Napom if you truly are supposed to be looking after shareholders and your group aren't just another load of charlatans maybe you ought to do the same.
Night all

They're lending money and instead of money back also have option to take equivalent in EMH shares at lower of actual price on converting or E0.24 The 76% thing is them making sure we don't spoil their work by doing a deal with somebody else whilst they do due diligence.
Provides some funds, potentially good partner to drive project froward, not too bad a price all in I'd say and inches project forward which is always better than them going backwards or on hold.

F4M - you need to read the last RNS the loan remainder is at the 4.5 issue price. Ive done the sums for you in my last post. You are quite correct in your last comment to expect another one shortly after but we'd need to raise the Cap again with a consolidation as the numbers by then will be enormous.

So AGM in Paris and because shareholders can't access / get organised (well done Napom!) there'll be another 2.5B shares in issue. Now after using some to fill the "loan" GR will have approx 1.746B to issue. Now as I don't want to be accused of ramping shall we say 0.0002 as the placing price. Mind you at the daily rate of decline even that's a big if we will raise .... wait for it £350K.
Mmmm, let me think about it $1M needed RHA, $3M for Xulu, loan repayments don't start till Jan 2020 etc etc what on earth use is $350K as that sort of number might just about cover our BoD costs for the rest of the year.
I'd look on this as just the first placement, another one is going to be needed fairly sharply. The maths says it!

F4M - about a month ago I told people and the group to make sure the AGM was in this country, pleased you've worked out why and explained it to all.