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Folks
Apologies for the delay, but we will not be able to obtain the legal advice we need until later today. Weâll update you all once we have several technicalities confirmed, or otherwise. We have received many emails today, most of a similar nature - we will not be responding to individual emails, but shall confirm our next actions via LSE, X and FB. Thanks for your patience.
Folks, weâre on a very similar position to yourselves this morning, we were surprised by that RNS. We are analysing the precise wording and taking legal advice, we should be able to offer a fully informed statement in due course.
Hi Langueule, Iâve simply refrained from posting over the past 24hrs because it felt the right thing to do. The opposition has been disingenuous with info previously, weâd rather just speak when required and do things properly. Fact is, we have no sensitive inside info, we are awaiting the outcome in exactly the same way as you are. Does that mean we have not influenced things? No, we most certainly have exerted influence through suggestion, research, demand and threat, but whatâs happening right now does not involve the CAG, we are not party to any current discussions.
Youâd like to think so SB.
Truly shocking - just like Our Tommyâs back catalogue, the devastation is staggering. Only one success, and that was for his mate!!
Only two possibilities.
Itâs either deliberate and organised, or heâs an incompetent prat of the highest order.
You decide.
88 year old widow, ÂŁ62,000
44 year old disabled veteran, ÂŁ43,000
72 year old SIPP holder, ÂŁ54,000
26 year old, mortgage deposit, ÂŁ22,500
81 year old, wife with cancer, ÂŁ63,700
58 year old, pension wiped out, ÂŁ102,300
53 year old, daughterâs wedding fund, ÂŁ32,100
Should I keep going, Tommy Boy?
Loads more like this.
All wiped out. Shameful.
Stas, allow us to clarify that there will be no stone left unturned and that no âpardonsâ are being handed out to anyone. Simple fats are that we are proceeding in the correct manner, in the correct order and under the correct legal advice.
We would simply not be investing vast amounts our time and resources fighting this case on everybodyâs behalf if we were not fully aware of the depth of feeling out there.
No-one has a monopoly on anger and frustration here, but that anger and frustration is best channeled towards a controlled and planned assault against those responsible. That is what we are doing in a stepped, methodical manner.
We hope we can benefit from your ongoing support. Weâre strongest when together.
NK
Think youâre about bang on there, those are the timelines.
Grey area as to whether they need to acknowledge the requisition by tomorrow (UK/Canada etc), but it would be good governance to do so, especially in the situation theyâre in.
Itâs Our Tommy though - he seems to have a completely different rule book to everyone else!!
Eez, we havenât âjustâ got anything. We will do this properly in the correct order and leave no stone unturned. Class action is sitting waiting, but weâll follow the best process.
It would appear that you donât fully understand such things. Wasnât 100% sure myself, itâs been an education.
We have great representation and they are working to an excellent plan. Not seeking your approval.
Eez, We have requisitioned a Special Meeting, not an EGM. Anavio does not own 90% of the shares, nothing like that.
We are doing this properly, under serious legal advice - excuse us if we trust that above random comments on a bb.
PRESS RELEASE:
COPL Action Group: Shareholders in Canadian Overseas Petroleum Limited demand board changes, plus an independent investigation via Special Meeting.
LONDON and CALGARY, AB, Feb 29, 2024 - COPL Action Group (âCAGâ) and Canadian Overseas Petroleum Limited (the "Company") (CSE: XOP) (LSE: COPL).
CAG members currently own 8.9% of the issued share capital of the Company.
Shareholders of the Company formed the COPL Action Group in December 2023, opposing recent decisions made by the Companyâs Directors (the âDirectorsâ) led by Chairman of the Board, Mr Tom Richardson.
The CAG can confirm that it has secured the services of Mr Michael Cotter, Solicitor (London), to act as its legal counsel. Mr Cotter has already written to the Directors of the Company to requisition a Special Meeting, following a 99% reduction of the companyâs share price. In summary, the purpose of this meeting would be to:
Remove Mr Tom Richardson, Mr Mark Wall and Mr John Cowan as Directors of the Company with immediate effect. The CAG have nominated three alternative candidates, their appointment to run simultaneously with the removal of current named Directors.
The CAG are also calling for an independent and detailed investigation into the conduct of COPL and that of its Directors in five specific areas.
The CAG believes that these measures are imperative in securing a sound future for Canadian Overseas Petroleum Limited. A spokesman for the CAG stated âWe need to fully understand what has been happening and, in the case of gas injectant promised via official RNS, what has NOT been happening. The CAG have no confidence in anything said, or actioned, by the Directors named, itâs as simple as that.â
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has not been consulted on the contents of this press release.
SOURCE COPL Action Group
For further information, please contact CAG at coplsharewatch@gmail.com
Our Tommy still banging on about our precarious financial position.
What a loathsome creature. You RNSâd $1M towards gas that would have sorted the books. Whereâs the gas Tommy, or whereâs the money?
It was always the gas that was gonna get him, never the oilâŚ..
That RNS is an extremely positive development, showing talks are not only ongoing, but a solution is seen as achievable.
Given this extension, our group can now take our next steps, will update when possible.