Member Info for SelfishMcNimby

Thanks for your detailed response Novykluk. Perhaps I can ask your opinion?

A couple of years ago, Reabold made a takeover bid for Deltic, as you know. Form 8s were issued as a legal requirement stating the up-to-date shareholdings of major shareholders, directors and persons acting in concert with the board. On one of these forms are the names of close relatives of Sachin Oza (Mr A & Mrs M Oza), holding 234,519,774 Reabold shares (over 3% of the company).

Firstly, why was no TR-1 issued when they went over 3%, and no TR-1 if/when they went back under 3%?
Secondly, the company have refused to state if they are still shareholders? Surely if they are, it would add confidence to other shareholders that at least the Oza's still have faith in the company. Doesn't their reluctance to say if they are still shareholders suggest to you they've already sold?

Novykluk, I'm surprised your apparent disapproval of the requisition attempt is centred around personal attacks on Cathal Friel, not in Uggy's abusive way, but even so, to be frank it's pretty brutal.

This is my experience of Cathal and ORPH. He put half his net worth into the company and tied it in for 3 years to show shareholders he was serious, he took a salary of I believe £150k which isn't greedy, he kept shareholders well informed with regular interviews, which is what we like, he removed the people who were over-paid and replaced them with staff from within the company who were better at the job, which is what the workforce wanted, and he secured a continual flow of contracts with big pharma companies which is what the market liked.

He could be accused of ramping the company, but there's a fine line between ramping and promoting. I believe it was the latter, because to me, he was always trying to hold back the share price. Even so, the market cap got ridiculously big, the pandemic 'ended' so investors looked elsewhere (even though much of the work was unrelated to Covid), and the share price declined. For what it's worth I think it is now way undervalued considering their gross revenue.

For what it's worth I won't be joining in with the abuse of S&S. I think it immediately devalues the rest of what you have to say. Not long after S&S took over at Reabold 5 years ago, I asked a friend of mine who ran a small O&G company who he thought was the best company in the country to invest in, and he said Reabold, because they were fresh, they had a new approach coming from a financial background, and there were lots of good investment opportunities for them to take advantage of. They chose Parta and California, which I don't see as a particular successes, Corallian, which, let's face it if it hadn't been for the late arrival of Victory pretty much amounted to dusters at Coulter and Wick, and West Newton, which I still believe could be very good having spoken to Rathlin's John Hodgins about it a while ago. There was so much promise. It's just a shame that 5 years later the share price is where it is.

You must be furious with the price they achieved for Victory though, Novykluk? Only £12m when you expected in excess of £100m!

Mr Williams said: “We’ve been speaking to our largest shareholders – you start at the top and work your way down.."

I've never heard that from a CEO before. They normally say that all shareholders are equally important, however many shares they hold. No wonder I don't get replies to my emails.

Surely the big investors must be miles underwater. £24m raised at 0.9p 3 years ago and many still holding. Can they really be happy with progress?

I don't think insurance is the inhibiting factor for fracking, Paul, I think it is government backing. Some tenuous link to earthquakes seized upon and exploited by the Russian-backed deluded British eco-bully brigade, hardly constitutes a coherent argument against something that could provide this country's energy security and bring about lower heating prices for those most struggling in our society. I think it's very disappointing and proves there's been a lurch to the left in British politics.

The situation needs to get serious before the current Irish government will change policy, and there are a lot of things that could happen to make the situation serious. But the way I understand it is that that policy relates to new licences, not renewals, for which they are currently choosing to do nothing rather than refuse them?

I'm looking forward to seeing what the existing BoD come up with to persuade shareholders to reject the alternative BoD, and compare it to what the alternative BoD come up with to persuade shareholders to vote for them. Should be very interesting.

Chat, I think Uggy sums it up the way I would. I don't see it as a takeover of the company, just a replacement of the BoD. I was a shareholder at Sefton when certain people did the same, but with the consequences I expected with the characters involved - the company went tits up. The people involved here I believe, are a very different kettle of fish to them.

Should take about a month from my limited experience.

In case anyone doesn't know Cathal Friel, this video for ORPH from a couple of years ago gives an idea of his character and enthusiasm to provide value for shareholders.

https://www.youtube.com/watch?v=k5IakI4fRZo

Just to clarify, it isn't Pershing making a bid to replace the BoD, and it certainly isn't Mellon, it's a small group of Reabold shareholders who have Pershing Nominees holding their shares.

Having slept on the news that the CEO who has made me the most money in any of my investments on AIM intends to takeover Reabold, I feel quite excited. Come on Cathal!

I think you're right. boltok. The share price should be far higher than 1p. I thought it may temporarily drop to 1.5 at a push, but this is ridiculous.

I agree about the postponement to 2025 Watts. They should explain why the change. Mind you, I would expect West Newton to be sold once it's proved up next year, so it should be irrelevant, but they should be speaking to shareholders like grown-ups.

I always try to defend attacks on the people who run the companies I'm invested in. Those attacks often centre around salaries, share options, director's shareholdings and communication with shareholders. It's very difficult to defend the current board on these things, if not impossible. I think most of the assets they've invested in have always looked very promising, they've had good JV partners and consultants, and they have always had access to significant investors when required, which are clearly essential points. As it transpires, some of the significant investors appear to be those wanting to replace the current directors.
Hopefully the detailed defence Camarco have referred to, will mention if the Oza family still have the shares they'd disclosed when the Deltic takeover was on the table.

Thanks Uggy. Nice to see Camarco replying to someone's emails. Shame it isn't Sachin or Stephen replying. I look forward to reading what they have to say.

Ahris posted (in relation to Kamran Sattar- not Cathal Friel), on this board at 22:51 on Tuesday:

'As expected the requisition went against him I think the board held 30% and I believe in the end he did not even vote. I asked him why he said he spent a lot of money and he was made to look like a fool when he was looking to protect the value in the business and ensure growth so the requisition failed, but what happened next is where we should all take note. A few months later Love Hemp was suspended and fined the largest fine in history of the exchange and everything Kamran had said in his requisition was confirmed to be true by the regulator. Me and other love hemp SH too this day kick ourselves over not listening to him. When I tried to message him his reply was simply they used shareholder funds to spread lies and that in the end the truth comes out he said he spent a lot of money to show the truth. The regulator even changed the management in line with his requisition and Andrew Male the chairman had to step down, see link below

https://businesscann.com/love-hemp-fined-70000-after-investigation-finds-it-published-information-which-may-have-given-a-misleading-impression-of-its-finances/'

This is a pretty big decision for shareholders here. I think we need to check, double check and triple check everything anybody posts here.

Jimmy, were they all the same people involved with Love Hemp? I know the broker (Pershing Nominees) was involved in both, but were the proposed new board involved? Of course Pershing are likely to have hundreds, if not thousands of clients on their books.

Well I read the ORPH board up to April last year, and you were a right moaning troll muppet moniman. Right from 5p a share to 40p a share. Maybe you've had a 'road to Damascus' moment.

So which of the new board were you referring to when you posted here 'a huge share issue will possibly occur via an accelerated book build using something like primary bid is my best hunch... I've seen it happen with a certain player no names mentioned...' Father Christmas?