Member Info for NicName

Rastuss, FWIW Nova haven't agreed to buy shares, they have received "irrevocable undertakings to accept, or procure acceptance of" (the offer at 640p/sh) as it was put in the 14th Dec. announcement (not released as an RNS, but via Businesswire News). It's an 'call option' if you like. There's no handing back if it doesn't proceed.

Fair enough on the other points.

Rastuss, but if the institutional investors were taking your advice (to sell) one might think that the shares shouldn't be trading in volume well above the offer price. Who would they be selling to? Obviously, P.I.s are not the ones lifting this.
The concern might be that one or more 'supportive parties' are picking up stock at a premium.

It is not a 'done deal'. It's a derisory proposal. The intitial attempt fell at the first hurdle. This latest should be treated with similar contempt. If you disagree with this action, as clearly people here do, capitulation is not the answer. The s/p is telling. Given the outlook for copper there are quite likely active parties all over this. What have you to loose by holding?

Shareholders are presently being offered much less that the general rise in similar companies over the period and no bidder premium. Is that a good offer? I don't think so.

"the Rurelec Board is adopting a cautious view regarding the preservation of cash reserves"
(Translation: We are making sure we keep what we have to pay ourselves and the overheads.)

LONDON/OSLO (Reuters) - Brimming storage tanks and ample supplies mean European gas wholesale prices are unlikely to rise significantly over the peak demand winter months, unless the weather is abnormally harsh.

Fool me once...

"The race will continue upwards " and downwards, much to the delight of the Market Makers who are quite happy to clip their 10-15% of any foolery.

Go on Doofus, convince yourself.

Looks like a re-ramp brewing. One a few punters will again regret I suspect. Not the market makers though...

I note they say Mr. Coveney is 'time charging' for about half of what a full time director would work, so it would seem his 'equivelent full time remuneration' is around £360-375k p.a.
On the same basis Mr. Morris's 'equivelent full time remuneration' is around £540-550k p.a.
This for a company with a market capitalisation of under £5m, an an NAV of £24m.
Mr. Coveney is installed by the Administrators of Sterling Trust and sells his services via his Andrew Coveney Associates Ltd. In such an arrangement it would be unusual for time not to be charged to the account unless there were some incentive. Mr. Coveney holds no shares in RUR. (Nor does Mr. Morris, but perhaps he does in one or more of the Rurelec Group subsidiaries?)

2020 AGM QUESTIONS AND ANSWERS
The Board provided the opportunity for engagement and challenge by all shareholders in advance of the AGM due to the COVID-19 circumstances. Shareholders were able to submit questions related to the business of the AGM. The answers to the submitted questions are posted below.
https://rurelec.com/images/2020PDFs/QuestionsAnswers_AGM_30.06.2020_final.pdf

"nice cash wodge coming."
...and another write down on the balance sheet.

Mr. Coveney was appointed as a 'part time' exec. at the request of the administrator of Rurelec's largest shareholder, Sterling Trust Limited. His remuneration is paid to his service company which offers turnaround advisory and part-time CFO services to a number of companies.

2020 AGM QUESTIONS AND ANSWERS

"The Board would like to provide opportunity for engagement and challenge by all shareholders in advance of the AGM due to the COVID-19 circumstances. Shareholders will be able to submit questions related to the business of the AGM up to the deadline for proxy voting (26 June 2020) via email to the Company Secretary, mbravo@rurelec.com . The answers the submitted questions will be posted here after the AGM"
https://rurelec.com/investors/circulars

Mr. Morris's remuneration (£98k, £91k the year before) does not seem quite so grossly excessive assuming he's running the show, which I thought he was (correct me if I'm wrong), it's the other chap, Coveney, who came on board as Sterling Trust's representative. If he's just there in an overwatch role to protect ST's interests then why is he sucking £186k (£210k the year prior) out of the business?

Twas a serious question, but not sure I quite understand your reply anyway (double negative effect typo?).

Why is Coveney drawing so much?

"Whats the catch?"
I'd guess you.

Good appraisal Johah, except for last senterce whre I'm not so certain. By then P/Is could be milked and diluted away. Perhaps Tang is capable of pulling it off but he may become increasing greedy. Wouldn't be so bad waiting if the milking stopped.

If he already talks for circa 27% it would seem prudent for anyone with a votable position to update Sam John at Phronimos with detail so he knows where he stands. After all, Phromimos are likely to pursue this anyway so what harm can it do.

jesus did I just see a closing price of 42.45!!!!!!!!

No miracles today, sorry.