Member Info for RodneyT

IP, Are you aware of how lethal mezzanine finance usually is in relation to prospects for small shareholders? Let's hope we never, ever go down that road.

I gave Add a list of company names for him to review. The way you behave is your responsibility.

I used 12p as an example and it indeed the case that DV would make a tidy sum at that level. " I know that Rodney thinks that DV and PS would be happy with a sale at 12p and would be quids in". You don't know that because that is not my view and never has been. Also, PS doesn't have options so why would he be quids in? I'm not responding to you unpleasant remarks, E, those are your responsibility. I was under the impression this was a place to have a discussion and an exchange of views rather than to dish out insults and abuse.

Show me where I said 12p and I will apologise to you despite your unpleasant comments about me which are your responsibility of course.

I have never referred to 12p. Please retract that comment.

Fort, Quite right, no cost, no capital at risk, no opportunity cost, nominal ~£1 million granted at 7p. Immediately vesting on change of control (see aside the distractions of vesting dates). All the while, the company's own broker (H&P) have a June 2025!!! SP target of 57p. if this were achieved (NAV of business ~ 106p per share), the free options granted to DV would be worth over £8 million.

Thank you, Pad

Thanks Gardie. Good to have a healthy debate here. Don't have to agree to make it all worthwhile. Ranmore are a fine group of people.

The reference I'm aware of to 'more than 20 NDA's', can somebody tell me where that came from? Is it in a company document, broker note or?

Hi Gardie,

I just used the example to provide evidence to Add that many fund managers make a point of not meeting management. Ranmore is one of those. Perhaps ask one of your contacts there to confirm the fact that this is the case?

NM's successes for small shareholders far outweigh his failures. Have you ever failed at anything, Red?

Take a look at Mr Justice Zacaroli's ruling against the Board of Hurricane Energy. Likely value of this to small shareholders? About £50 million and rising still due to DCU payments.

Didn't know you were into cancel culture, Red. Of course I find the facts discovered unpleasant. Of course I hope things improve. But the facts must be pursued at all times. We must have truth. I'm not going anywhere. Lack of objectivity? I don't think so.

Your words, not mine, Red. DV has not invested £1 of his own cash in this company so far yet he stands to make millions with no capitial at risk for himself and no opportunity cost were the company to be sold at a price well short of the 12 month price forecast provided by company's own broker. This is not leadership.

Fair enough, Add. A 'Google search' was not how I accumulated facts on which my summary is based. Also, I WANT to find good news. As/when I do, I can change my views.

Add, Ranmore is a fund manager. It manages an outstanding global equity fund. Have a look on their website. They do not meet the management of any business they invest in and state that on their website. Their fund is up 13% year to date and managed 14% in 2022 when the S&P 500 was down 18%. For information only. Please do not construe as advice. Many managers do same and do not meet management of companies they invest in. Helps the compliance function too. Why take risk when you don't have to? It is illegal to share anything that could materially affect the share price of the business in question.

No, Add, how would I know?

I am content that the Courts of England and Wales are there to ensure lawful behaviour and that we have due process.

Not interested in talking to management, Add, as they cannot tell me anything worth knowing that isn't already in the public domain - I am not an insider. Nothing new in this approach - many fund managers have a rule not to meet management of companies they invest in. The actions of managment is of interest of course, rhetoric far less so, if at all.

All your words, not mine, Eloro. of course you have a right to your opinion but they are your words, not mine. My remarks about NM and others stand to be corrected based on evidence. Have you got any? I would dearly like to learn of evidence related to the others which shows a good outcome for small shareholders. Regarding NM, many retail investors in Arrow Energy and BeMax Resources made 20x their investment, for example. I do not know whether NM is a 'good cop or bad cop' in relation to our current predicament. What I do know is that, of the group I referred to, NM has, by far, the best record as far as delivering value to small shareholders.

Not going anywhere, Add. The Courts of England and Wales remain, on balance, world class and that setting reassures me.