Dhc - one thing that has frequently confused me is the rules around trade reporting.
Where someone like CC has a large order that will likely require multiple fills spread over a number of sessions , so they only need to report once the order is complete ? What’s to stop them giving instructions to complete 95% of their order and save the last 5% ‘open’ thereby delaying requirement to report as the order isn’t fully closed?
Maybe getting wrong end of the stick but see so much dubious goings on with regards TR1’s though fortunately not on WSG.
Market thinking there may be a delay and need to raise beforehand ?
When it comes to Aim companies the market nearby always holds the cards on any placing and sets the agenda and it’s pretty rare for the company to be in the driving seat. If, and it’s a big if, we get this contract sorted first then there’s a chance it could be done higher than we are now but otherwise it will be forced through at bargain basement prices ie. nominal , and allow the placees to make a decent turn. Lth’s suffer once again.
With the 21 day rule for calling an EGM and the. 28 day window for holding one, we’ll be well in to August by the time it takes place and with Zorbas due to stand down anyway the timing seems a bit strange.
What’s needed is to be rid of Hogan, Zorbas, Groves etc as holders but that’s unlikely to happen. They’ll just act as shadow directors interfering with and milking the company even if they’re not on the BoD.
Hopefully the authorities are still working through issues from the Alerion scam and something will come out of that. I have little confidence that any of the board initiated investigations will result in anything other than minor recommendations and a whitewash.
Anto- when you say, one is selling his stake , who are you referring to ? Do you mean TJ , if so how do you know that ?
If you mean Hogan, well he has never been a director - just a well rewarded sidekick to Zorbas. Who know what he does that pleases JZ so much ?
We don’t know what Hogan has been doing with his holding a she deliberately mislead on his holdings RNS - aided by the company. By now showing any boundaries crossed or disclosing previous notification there could be a whole raft of movements that have not been notified - including the shares he got in last years placing which were not disclosed at the time but that they had to come clean on when Tom Winnifrith exposed them.
I notice the EGM doesn’t seek to remove Brenton - why ?
Tend to agree that with Zorbas supposed to be going in a month it would by a Pyrrhic victory anyway and they should maybe have waited to ensure he steps down as proposed rather than trying to oust now.
Difficult to see that any change has happened lately. Still no communication from the company on key matters, still a lingering stench that Hogan is too close and no real sense that is is about to turn a corner or that sentiment is still very much against this share.
The Share price was double where we are now before the sham deal was announced. Once people realised what a scam it was the share price crashed to 2p. It’s the BoD that have trashed the price down to this level. Do you really think that anyone can trust them to try and get it back up again ?
Zorbas and Hogan are just biding their time for the next scam and this will keep dropping with every con trick.
RE: The whole point about fund raise05 Jul 2019 13:43
Hopefully, this time the company can dictate timing and terms IF there is any fundraise. Previously the market has been able to force that. Just hope Fowler isn’t persuaded in to some ‘mates rates’ funding and thinks about long term picture instead.
RE: A decent balanced two way article20 Jun 2019 10:54
Jono44 - I wasn’t try to be fair to Zorbas, Hogan etc, far from it. I was just trying to point out that this was actually required for the company to meet governance requirements and not just some spurious recruiting of another crony.
Knowing our luck, there’ll be a big outbreak of Ebola in SL , Trump will blame it on the Iranians and send in the bombers. As he’s not great on world geography he’ll direct them off track where they’ll bomb the port in Ghana just as PF sails in on the Sierra Queen. Fortunately our glorious leader miraculously survives and catches the next flight back to Bunbury Towers.
RE: A decent balanced two way article13 Jun 2019 10:57
The key now is what are management going to do to try and rebuild trust and relation with shareholders ?
The refinancing is way overdue and there will be suspicions around whether the company is obtaining best terms or lining others pockets ?
What is current shed work ?
What progress, if any, is the drone business making or is that going to die quietly and slowly now the cronies have their money.
The BoD have trashed sentiment to rock bottom and every action is now treated with suspicion. If the company genuinely want to move forwards then there needs to be some positive actions that shareholders can get behind.
I wonder if Zorbas sold his shares bought at the 2.4 p level just before the vote result were declared? He’d have known the results and how it would crash the price, what better time to get out with near 100% profit.
No point declaring it though - proper reporting is for plebs rather than the like of Zorbas and Hogan etc.