Polaris which if the three coal fire prospects kibo currently have on the go do you think has the best chances of going forward . I’ll make it easy for with a multiple choice answer. . A. Tanzania, B. Mozambique C. Botswana.
'Sanderson are upto something, why would Sanderson increase from 13% to 19%? '
Perhaps because they know that a number of large holders will vote against the EGM proposals and the gravy train my be derailed
'Why BOD getting paid in shares NOT cash?'
Why did the BOD defer salaries in the first place, why did they not pay themselves with the last £1.5m raise. Perhaps because they have no cash and would struggle to raise it. Because they can gift themselves a large % of the company at rock bottom?
Just some observations for you to mull over. As for KAT and a number of interested parties ... that may be the case and its very exciting as a holder of both but another delay on blyvoor, another delay on Haneti all prior to an EGM where they will pay themselves in shares at 0.45p or the 10 day avg share price post EGM (and only 0.45p in the clarification rns due to shareholder pressure) so in whose interest is it to delay anything that raises the share price
And replace with ???? I’m assuming you either try and remove LC and leave it the remaining bod to select a replacement or as part of any EGM called whoever is making the proposal would need to propose a new set of directors. I’m not saying don’t I’m just saying how and who?
I’m not sure I agree JD ... if the company at the time finds itself with surplus cash surely a cash settlement would be preferable than further dilution and warrants? I get the fact the decision on what is best would be out of shareholder hands.
This is better and shows what can be done. If the original had 0.45p then I'm not sure it would have triggered as much of a reaction. It does set a floor and plenty of new investors interested given out SP and MCAP in relation to KAT. Sill don't agree with warrants at issue price though and will vote but nearer the date of the EGM. Like it or not those salaries will have to be paid and the alternative of a placing is not attractive and unlikely to be at .45p and above. Still hoping for a rise on the back of KAT financing due end of May beca use that pushes up the issue price and if it comes post EGM it will look contrived even if that's not the case.
To be fair Ariel I have been to as many agms in Dublin as I have London. It’s actually cheaper for me to get to Dublin for 11am than London! All companies have them during the day and generally in the morning which isn’t convenient for most. BUT you can at least vote online now.
How can I explain. I didn’t like Teresa May and thought she was a bloody disaster but I wouldn’t vote her out of office because i didn’t like the alternatives. I did however vote differently at local and European elections to make a point and try and influence direction.
"Don't throw the baby out with the bathwater"
I may not like some of the things that have happened but still think LC has a lot to offer.
The whole point of an egm and agm is to allow shareholders to vote. As it stands I don’t like some of the resolutions as I don’t feel they are in the companies and shareholders best interests. BUT if Someone was to explain the rationale / options I’d listen !
JD / Deecay I’m with you on this one. I know others have stronger views but the priority has to be the EGM first and then go from there. We need to ensure we have a position that secures the maximum support and balances the best for the company and shareholders. There is still a lot kibo could offer and we don’t want to materially impact that by being too hasty in the short term.
I generally always vote online through II for all agm / egms whether it makes a difference or not. This time looking at the numbers it might actually make a difference and we can look to force a different outcome for shareholders. My only concern is it just feels wrong for the BOD to profit significantly from a falling share price. Ok some ‘reward’ for deferring salaries ... warrants for example. This is all on the assumption that the share price will ultimately rise with the anticipated news flow!