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Deltavegatheta,
Have you thought to communicate your 1st point to the government and to several potential international investors?
Re your 2nd point: if one or more potential international investor(s) participate(s) in Portland, would you not expect them to exert some influence over the development of the project?
Believe there is a reason management is fighting so hard to maintain UKOG as a going concern and that it is other than the continued payment of their remuneration.
We do not know how close they are to concluding discussions "with several significant potential international investors with regard to their participation in the Company's hydrogen storage project" (RNS of 01/02/24).
Any subsequent cash injection is likely to be ring-fenced but arrangements could include the payment of fees to UKOG for its management time.
Notice of Annual General Meeting ("AGM")
UK Oil & Gas PLC (London AIM: UKOG) is pleased to confirm that copies of its 2024 AGM notice and forms of proxy have been posted to registered shareholders today, 3rd May 2024. The AGM will be held at 1100 hrs on Wednesday 29th May 2024 at 8th Floor, The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW, United Kingdom.
The AGM notice and subsequent AGM results will both be made available on the Company's website www.ukogplc.com .
At 30 November 2022 the Company (Alba Mineral Resources) held the following interests in subsidiary undertakings, which are included in the consolidated financial statements:
Name of company Country of incorporation Holding at 30 November 2022 Nature of holding Holding at 30 November 2021 Business
Aurum Mineral Resources Ltd Ireland 100% Direct 100% Exploration
Mauritania Ventures Limited England & Wales 50% Direct 50% Non-trading
Dragonfire Mining Limited England & Wales 100% Direct 100% Exploration
Gold Mines of Wales Limited Jersey 100% Indirect 90% Holding Co.
GMOW (Holdings) Limited England & Wales 100% Indirect 90% Holding Co.
GMOW (Operations) Limited England & Wales 100% Indirect 90% Exploration
GMOW Gwynfynydd Limited England & Wales 100% Direct 100% Exploration
GreenRoc Mining plc England & Wales 54% Direct 54% Parent
Obsidian Mining Limited England & Wales 54% Indirect 54% (indirect) Exploration
White Eagle Resources Limited England & Wales 54% Indirect 54% (indirect) Exploration
White Fox Resources Limited England & Wales 54% Indirect 54% (indirect) Exploration
4.394bn issued shares of which 48.01% (say 2.11bn shares) is held by 5 significant shareholders, so the float = about 2.284bn shares.
Volume so far of 105m = 4.6% of the float.
If a lot of the negative posters aren't really shareholders, why do they suggest UKOG's CEO be replaced, when he isn't their CEO and they are not in a position to do anything about it.
If you want to change the CEO, all you have to do is take over the company (market cap of less than £1m at the present) and then you can appoint whoever you like as the new CEO.
The median salary for CEOs in 2023 was £363,100 - an increase of 5.4% per annum over the past three years, and an uplift of 4.9% from 2022 when the median salary was £346,000.
https://www.bdo.co.uk/en-gb/insights/industries/aim/aim-directors-remuneration-report