Member Info for troutisout

Not only that, if the main client issue isn't resolved then SML keep the magnetite they have paid for and can sell it again. Most companies would love to sell their product twice......

Austin,
I am not sure I want the price to rise at the moment, my overriding desire is to get rid of Zorbas (and with him the Hogan, Grove, Talbott entourage). To do so needs every shareholder to vote against them in the upcoming EGM and also people to keep buying to add shares to that voting base. I would prefer those shareholders to buy lower than higher. However there is a risk that Hogan, Zorbas, etc have to buy more shares to defend their position and this could lead to a squeeze in the price.

If Zorbas and Jones get voted out and want to try and wreck the SP by selling their shares then bring it on, as I will buy plenty more knowing they have been removed from the BoD and I am sure so will many other shareholders and dare I say it some that have been warning us for ages about these characters.

That is why it will be interesting to see the number of shares they actually hold now, as TR1s have obviously not been kept up to date.

Austin,

Not sure what your angle is, but what happens if shareholders take control? Oh yes they have requisitioned an EGM to remove him and Jones.
It will be interesting to see how many votes they have, only many have said they had sold their shares down to buy back in a placing, the placing can't happen now, so they either buy back in the market or have lost some of their shares (votes)...

Well it certainly won't help them if they continue to compound their problems.

It sounds like they lost the vote those morning though, the interesting bit will be the voting numbers.....

If they are going to avoid shareholders by holding the GM in Australia then they should have the decency of RNSing the result. The meeting was at 2am BST, unless they are still there AND YET TO VOTE, they need to tell the market.
I suspect they are trying to use the delay to buy in the market. Hope they realise the concert party rule, as the Takeover Panel do....

Austin,
I think if they resigned now they would put themselves under lot of scrutiny and investigation.
I have sat and read many BBs over the decades where PIs bemoan the toothless authorities and give up, there seems to be many different investigations being instigated by different authorities and these will hurt those who have wronged.
Is it just coincidence that websites and social media accounts have been deleted/taken offline? That the acquisition shares haven't been issued yet? That JZ had to buy 4.45m shares on the drop? That the Company are having to issue clarifying statements?
I don't think so, I think they have been caught out and are now feeling the heat....

Austin,
You end your post with,
"with so many questions regarding the nomad and the validity of this deal, you cant buy in"
Now I can accept the logic about not buying in, but we all know some buy when others fear to, etc...
However the NOMAD has been investigating this and this is ongoing, it is very easy to follow the words of a 'sheriff' but he just wants to recreate previous entanglements/spats.
The deal stinks....The NOMAD appears to be investigating the smell....Shareholders are acting to purge the cause of the odour.....

With an inkling of how the vote went, how will certain people that are short reclaim the stock they are short of? If no placing due to rejection of the vote, the market is the only place. Normally they would have time to cook up another scam, but there is now an EGM to be had and the votes on that require shares to be held....Which brings us back to "how will certain people that are short...."

By tomorrow morning the result of the GM will be known (Happening in Aus overnight). I believe the resolution will not pass.
It is also likely that Management will have an idea of how the vote goes sometime today.

Because maybe, just maybe, we can stick together and get rid of the leeches.
They are going to have to battle with several different agencies/ investigations going on about them.....

Do you really think that? There's plenty more than TW after them and they are being far more thorough and evidential about it.
They posted that this morning as they wanted to issue the shares before Thursday's vote. However by issuing the shares and benefitting from them, they are now responsible for any fraudulent actions regarding this acquisition....
I wonder how slippery Grove and Talbott are?

£81k and £19k add up to a nice round figure.......

Birdseye,
You sound like someone that has lost to them previously and did nothing about it, we are trying to do something about it. Rolling over and selling them our shares is exactly what they want at the moment, so are you really one of their cheerleaders?
You can see from the RNS that an EGM has been called to remove Zorbas and Jones, to install Nigel Burton, Trevor Brown and Daniel Smith in their place. The numbers are looking good for PIs, there are many other avenues being worked on. These sharks have overplayed their hand and are now in great danger of being brought to book. That won't happen by everyone selling up and whinging on a BB, so once again are you a Zorbas/Hogan stooge?

"Acting in concert
Also known as concert party arrangements. A group acting together in a takeover situation. As defined in the City Code on Takeovers and Mergers (the Code), persons acting in concert are persons who, pursuant to an agreement or understanding (whether formal or informal), co-operate to obtain or consolidate control of a company or to frustrate the successful outcome of an offer for a company. A person and each of its affiliated persons will be deemed to be acting in concert with each other. Control in this context means 30% of the voting rights in the target company. The Code presumes that certain categories of person will be acting in concert unless the contrary is shown."

Might be hard to disprove they are not a concert party after announcing all their connections in today's RNS, we also can prove even more connections, so they are really going to find it hard to convince the takeover panel that they are not acting as a concert party.

Might be worth seeking further advice from the takeover panel.....

Just wondering how it works if it was deemed that JZ, LH, ET and CG were acting as a concert party? Today's RNS states that one of the vendors is a company that Elliot Talbott is sole beneficiary of, but we know that is Cyprus based and we know who likes to have his shares in Cyprus based Companies, I wonder if they are linked???
If they were acting as a concert party and after the issue of acquisition shares they hold over 30% of the shares, then takeover rules come into play and any buying of shares by them would mean they would need to make an offer for the rest of the Company.
Did they not buy shares at 6.5p in the placing last year (again LH's purchase in that placing announced today, no TR1 yet!), so does that mean their offer per share would have to be at least equal to that amount?

Maybe, if you are introducing someone that is not known to the Company, but Zorbas knew of Talbott through the ANR/Leinad tie up that they tried to do. This looks just to be a carbon copy of that deal.

Not sure how useful someone is going to be on one day a week, when the drones will be used the other side of the World....

We need to all just keep the pressure up, the vote on Thursday will be defeated (even with the extra Alerion shares being issued). Then the EGM comes into view and I suspect certain people are short at the moment and were relying on Thursday's vote to issue some more shares to cover. If that doesn't happen then not only will they not be able to cover the short, but they will not have the votes for the EGM.
There is a short squeeze waiting to happen here and both sides will want to accrue as many shares as possible before the EGM.....

There speaks a man that will be working for G4S until he is 67.....

Has your working life never taught you to see a red flag when it hits you in the face?

Sammybow,

I take it the 1.57p trades are sells and 1.62p trades are buys?

If so MM selling lots of shares......

Well it will be Hogan and his buddies that get left holding the can for this one, they have left a trail so wide you could drive one of Facebook's Drones down it.....