Member Info for steve58

So in effect.

They still get paid, just a bit later.

Should read paye paid.

Years ago companies could make provisions for bonuses etc and claim tax relief in the accounts. If it wasn’t paid in the next year they just carried the same if not higher figure forward.

The rules are now that if a bonus etc is provided in the accounts it has to go on the payroll system and page paid.

They can still defer payment but the net after tax would just get credited to their directors account so in effect they can then draw it out anytime after.

Regarding my earlier post I was mixing up with directors loans which have to be repaid within nine months of the companies year end or a charge of 32.5% is payable by the company.

Whether they are deferring or paying their salaries they are still getting them one way or another.

The problem with deferral is if they are not paid within 9 months of the year end they have to be written back and no tax relief is given.

So basically deferral still means that they get the money just a bit later. So not really saving the company any money.

I cannot believe it takes four people to make all the decisions that are made in the course of business.

I can't believe that all four of them consult for days to decide to say increase the horse Hill stake.

Definitely something to be sorted at the agm.

Pretty good hourly rates for Dan and Fergus if not
all of them.

Seems that whilst the board were prepared to have a meeting.

They are still doing just what they have been doing for ages.

Looking at the salaries in the accounts large increases all round and large leaving bonus for a former director

The rest of reef and burge Africa investmentSouth have been written off. A shame someone can't find time to update the website.

The company secretary needs contacting. Only got until 5.00pm.

Seems some of what was said at the meeting has fallen on deaf ears.

No resolution to reappoint nr.

Try telling that to the operators shareholders.

Not the best of days over there.

They need to get things moving at a quicker pace.

Now showing 3p to buy. Wow, had forgotten what a 3 looked like here.

Does make you wonder if investors here are more interested in Horse Hill than what is or isn’t going on in Tanzanier.

Looks as if solo are getting a bit peeved with all the waiting.

IMO a complete sale seems more likely once licence and terms etc are known.

Still to be filed.

Hopefully the company secretary will sort it out by close of play.

The £150 penalty saved should cover the tea and biscuits at the agm. Although the board may want something a little stronger.

Google showing 2.58 to buy.

Nothing new.

Does link as if solo are looking to get out of Ruvuma once licence approved.

Directors salaries etc up a lot.

A lot of old news going back years which we have been told many times.

Let’s see what the sp does today in response.

Not expecting fireworks.

Solo have 25% of Ruvuma.

Horse hill 9.75% or thereabouts.

Helium one 13.75%.

Ignoring ntorya at the moment.

Aminex have 75% of Ruvuma.

IMO our market capitalisation should be much closer to aminex than it is.

Results out tomorrow which is the last trading day in this quarter.

I’m hoping for an aminex Rns regarding the rig tender. We may even get one on the production licence if we are very lucky.

Fair point.

I hope something good develops from current situation.

Good morning to you.

I wouldn't write it off yet.

About 200k in the bank hopefully more to come.

Company the limestone block business was sold to is well established and marketing the blocks on their website.

The nxt investment also looks promising.

Not sure if this is correct but aminex cannot stop solo negotiating their own price for their 25% stake should they sell it. I assume they cannot stop us selling to whoever we want.