The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Rocco is humble in offering shareholder vote and independent investigation?
Join the TG MNRG 2.0 thread, seems like
real investors and a tooge-free, real data/debate to get to an answer.
The message is to stop cash going to failed executives and complicit advisors/hanger-ons. Simple.
Rolf probably a decent chap but has picked a fight rather than think of commercial solutions. I read the high-court defences and they tell you everything that you need to know about poor commercial decisions and the fact that the attack on Cocco is/was commercially naive.
Goodbye Rolf.
Brilliant - Rolf wants 1m to pay himself another £300k salary. It seems Rocco is investing in the oil
Asset and has just done a massive hydrogen energy deal so will be delighted with Rolf wanting salary ahead of shareholder value! Change Bozo for Rocco for CEO at AGM.
Guys, You should really get the proceedings.
The reason this issue has arisen is that MNRG failed to uphold the agreement with BritNRG presumably while spending money on other stuff.
The defence is that this failure was deliberately hidden from investors and that MNRG chose not to get shareholder approval only when the contract played out against them.
It appears not to be about what Rocco declared or not because he was entitled to an interest per his contract and the document is clear that MNRG knew everything material other than perhaps the colour of his underpants.
The issue to resolve is how much MNRG are entitled to be given to exit BritNRG having totally screwed up and having decided to attack Cocco.
The defence is highly detailed on the above. Rolf has
clearly lied. Cocco should raise a counter action to make everything public and let shareholders decide.
Lots of stuff to consider. It looks like any successful? action in this claim would also bring in a claim against all the MNRG Directors as jointly liable so they would all be in the dock with their laundry. Get a copy it’s better than the Sun.
The document is very detailed in stating Rocco hid no interest and was specifically permitted to have an interest, and he even overstated his position at times. It says that Rocco gave effective disclosure to MNRG of his interest and did not breach company law or company constitution.
I am not sure if it is permitted to publish live proceedings but anyone can get a copy and draw their own conclusions. Unless he is perjuring himself it looks to me that Cocco has provided the evidence that he been abused.
Uncanny: https://www.rollonfriday.com/news-content/morrison-foerster-sued-former-client-ps15-million