Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Alert, thanks for the reply it is appreciated. With respect, I'm definitely in the camp of "what is he on?", if anything it's the company that needs to make the first move in building trust and respect, not a lowly shareholder (again with respect).
So you have clearly lost it or are indeed a better person than me, or know more than you're letting on. Time will tell.
Good luck and FWIW yes I am still invested, well trapped is more of an apt description but I guess we all are, eh.
Alert I'm quite surprised (as I'm sure many others are) by your revelation that you are Lyndon Yates, particularly given some of the nasty exchanges we have had, however, I'm not to hold grudges.
You have made a choice to increase your holding which I cannot fathom. Whilst I appreciate you and LT's attempts at reconciliation with the BOD and in particular Minty, you cannot deny that time and again you and other major holders (some previously insiders) have been led down the garden path and mislead over what exactly was happening.
Fine to forgive, that's a healthy mindset and indeed it's now over to Graham to deliver, however, to hand over more money to a group of individuals who haven't yet done a single thing to regain your trust (it was only just over a week ago they raised once again at a huge discount and further destroyed existing shareholder value) I cannot comprehend. however, it's your money.
Question: Will you have to issue a TR1?
From where I'm standing this company has a HUGE amount of work to do to regain any credibility or trust in the market. I don't care who they partner with, what opportunities there are for collaboration, pie in the sky "intentions", "understandings" or otherwise - we've heard and seen it fall apart before. What shareholders want to see is a signed revenue-generating deal that benefits us instead of day traders, drop everything else and just focus on that.
Last Friday's placing, whilst not unexpected, feels like a reckless, last grab and go at getting something done, however, the fact it was left so late (what happened to all the previous placing they allegedly refused) and offered at such a level means that inevitably long term holders have suffered the most yet again and short term traders will make the maximum gains. What an utter shambles!
My only hope is that this company survives long enough for me to make it to the next AGM by which time I trust legal action will be in full swing.
Good luck (and hope you're still happy with giving them the power to raise)
Well, I guess it can't hurt to have any uncertainty removed here and this share sure has enough of it.
This was always just an administrative issue, surely?
Sharelock, in the ansence of the company being explicit about what on earth it's actually up to and the fact the open offer wasn't offered at the same time is naive and/or reckless on the company's part.
Thanks again for rewarding LTH’s NUOG!
Be in do doubt it was us lowly PI’s picked up the tab.. AGAIN
Well it was the reference to “someone” that threw me. I would have thought it was obvious they likely flipped them PDQ.
Leaving it days after a placing to do the open offer at .3 has turned out to to be reckless behaviour by the board. It’s kept the price low and created complete uncertainty. Unless they actually do a deal and the prevailing SP is higher this is a further example of where the BOD have not acted in the interests of shareholders. Absolutely disgraceful.
What do you mean 88m buy?
The nomad also wants investigating. How half the stuff has ever got through. Even as recently as December the RNS stated news on a redevelopment was imminent. Now it's operations suspended and back to the local goverment to start application processes all over again. Talk about an absolute p***take!
I believe LT is a genuine guy (this is evidenced by his documented holdings and attendance at the AGM) and has doubtless been mislead many times. I trust he is OK and i certainly puts my own paper losses into perspective. Pesonally, I don't know how any of the Minty clan sleep at night knowinghow much they've screwed PI's over. It's equivalent to highway robbery and rotten to the core.
Thoughts with you LT, mate.
I tend to agree XR, however, how many extensions have we given this lot. Absolute last chance saloon stuff, let's hope this coming week doesn't bring any further kicks in the gut from a BOD made up of spivs.
Wookie - don't really get the aggressive tone, however, really is quite clear that the resolution made a the AGM and the placing RNS state that an open offer will be made to shareholders at the same price, so yes 0.3.
The "when" they say they will update us in due course. Personally, I'd rather take my chances on the Thunderball.
I for one am fully onboard with getting involved with shareholder action and holding to account. I want to know where the placing money over the past 24 months, in particular, has been spent. I am particularly vexed by the volume being turned down/off on Brazil which was "exciting times", had " hurdles to competition", oh and let's not forget was meant to conclude in a way that "avoid dilution to existing shareholders". What a shambles of a team.
Reading previous RNS and is insult after insult. This measley raise is just the latest in a very long line. Why anyone would entertain giving them another penny of their hard earned money at whatever discount they offer is beyond me. Thinking back to the AGM I am disgusted at the thought of how many took the time and effort to attend only to be looked in the eyes and spun a yarn once more. GTW is no closer to reality than any of the other stuff they have gone on about, how long before this is shelved and another new shiny "idea" is unveiled.
Graham Scotton reiterates in his podcast that he understands delivery of a project is critical. Well it better be soon because no one believes a word anymore.
Whilst I'm here, I back SBP's views entirely that we are no longer in the frame to do anything with Dommo or the OSX-3 if indeed we ever were. Let's remember this was a seadog (surely the most culpable poster) production, and nothing I have ever seen or indeed has happened in the past 12 months leads me to believe we are in the least bit connected not least because they continue to work to their own redevelopment plan. Looking around at the AGM, I find it incredible to think we have the credibility or capability on the team to be taking that one forward and I suggest PI's let it go to aviod future dissapointment. All IMO only.
I think the markdown will be shortlived but will certainly be subdued. This has turned into a miserable investment case with even GS throwing around every sort of get out jail phrase he possibly can!
It's clear this raise is a "keep the lights on", it's not really linked to strategic outcomes or to finally get a deal over the line. I have a fairly modest investment but I am incandescent that they treat PI's this way and Graham should be ashamed of himself and the same od tactics being deployed of attempts to raise the SP and then place. Disgraceful and vile behaviour.
This lot should never have been given the power to raise again. Pleased with my principled objection at the AGM although I'm not citicising others who chose to vote in another way. The best we can hope for is that GS actually has the ability to close a deal although I have to say he hasn't covered himself in too much glory and yesterdays RNS (designed to raise the SP) closely followed by today leaves a very bitter taste with regards to our "new regime".
It’s all just so unnecessary. Be professional and submit them in line with previous years without the need for a sense of jeopardy which gives rise to suspicion. Come on Graham, “fully intend to meet our regulatory requirements”. How about you introduce some rigour and accountability for standards in your team. Would this happen at BP or Dana and would you expect investors there being left to ask these questions?