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Correct Redeyemines. And all the work has been done in the name of GCM, the agreements with Powerchina are with GCM, so why rock the boat now? It doesn't make sense being in such a good position now.

I'd be happier if there was a replacement for Taylor-Wilkinson mooted. It is clear with no replacement the Nomad will resign and GCM will delist. This would mirror the Polo black hole disappearance and leave us all high and dry.

The rest of the board are obviously resisting Tang's effort to remove Taylor-Wilkinson, hence why Tang has used Polo to make the application. Its down to us shareholders to fight Polo. We have the majority and every vote counts. We can't let GCM delist.

Christian Taylor-Wilkinson explaining in detail the board's role -

'The Board considers that its composition is satisfactory and complies with the QCA Code, however, is currently actively recruiting one or two further non-executive directors to improve its Board composition.

The roles of Chairman and Chief Executive Officer are split per best practice. The Chairman has the responsibility of ensuring that the Board discharges its responsibilities. The Chairman is responsible for the leadership and effective working of the Board, for setting the Board agenda, and ensuring that Directors receive accurate, timely and clear information. No one individual has unfettered powers of decision.'

Interesting.

This is the best bit -

'GCM has patiently been working to be in the best position to present the Project Proposal to the Bangladesh Government and would welcome its participation as a partner in the Project. With the apparent move towards finally realising the potential of domestic energy resources, now that the National Election has been completed and the Awami League government returned, we are targeting Project Proposal delivery once the new government has settled in.'

'We would welcome its participation as a partner' - is that an offer or an acceptance.

Exciting times ahead for sure.

Just 1 caveat though, GCM is so close so just wtf is going on with Tang and Taylor-Wilkinson? Why rock the boat? The company should be pushing as a unified and settled force. This shows some weakness within GCM and weakness always offers exploitation. And would they really force a delist now at this late stage?

Tang/Dyani will drop to 30% once the new shares are added. 12% should see a holdings rns with a name and a lot more will be revealed.

The £500k will have been agreed well in advance. Possibly at under 1p. Then out of the blue came a flurry of buys and pushed up the price to 3p. Tang then suspended the share to stop any further price increase. The £500k has now cost 1.65share. Assuming nobody would fall for the pump up the price trick so why was there suddenly a flurry of buys. Confidence somewhere?

Will the buying continue once the the suspension is

lifted? Will the accounts reveal any optimism or tangible developments. Will there be a new board member? What date is the AGM?

The next few days should be interesting.

Redeyemines what's your thoughts on this week's shenanigans? Have you had any response from the company on your idea to get Bangladeshis on board?

'Polo Investments Limited ("Polo"), pursuant to Section 168 of the Companies Act 2006, requesting that a resolution to remove Christian Taylor-Wilkinson be tabled, as an ordinary resolution, at the forthcoming Annual General Meeting of the Company or a general meeting of GCM to be convened as soon as practicable. Polo currently holds 43,328,003 shares representing 20.9% of the Company's total voting rights..........

WH Ireland, the Company's Nominated Adviser ("Nomad"), has advised that if such a circumstance occurs the Company would therefore have to add a number of independent non-executive directors to the board in the short term. If such additions to the board are not made to WH Ireland's satisfaction , it is highly likely that the WH Ireland would tender its resignation with immediate effect.'

Delisted. No ifs no buts. Like Polo, shareholders will im effect no longer exist and their investment will disappear down a black hole.

There's only 2 possible ways to stop that outcome - either Taylor-Wilkinson is replaced immediately or the resolution is defended and stopped.

Redeye I didn't say oust him I said stop him from removing Taylor-Wilkinson and so stop GCM being delisted. We know from Polo that once it's delisted then he can do whatever he likes and all communication with shareholders ceases. But at GCM the peasant shareholders can stop that by voting against Taylor-Wilkinson being removed. Ultimately, I doubt whatever plot Tang has we can stop him, but we can certainly slow him down and put a spanner in the works, make him work for it. But as usual there's no information whatsoever for us to work on so it's all guesswork whilst we're all kept in the dark.

Bangla if Tang does control the new 30m shares he still won't have reached 50%.

I wonder what the issue is with Taylor-Wilkinson. Is it really just a ploy to delist the company or is it a personal iisue? But why invest just another 500k when 700k would give him over 50%. Or if its not his money who would invest 500k in a company about to be delisted? We should find out more once the shares are issued.

I wonder what Gary Lye and Keith Fulton's position here is? Are they acquiescing, going along with him? Can they go public if anything untoward and not in shareholders' best interests is going on?

This is why every vote will count at the AGM. Maybe a shareholder group should be set up to co-ordinate any strategy. If the plot is to delist GCM Tang has to be stopped at all costs.

'The experts have long cautioned that such huge plans for coal import (as much as 80 percent of Bangladesh's energy needs by 2041) will have dangerous consequences both for the country's foreign exchange reserves and environment.......

Experts have long warned that this overreliance on imported fuels would put the economy at severe financial risk...........

The prioritisation of foreign dependency, neglect of domestic resources, and insufficient focus on renewable energy alternatives demand urgent attention...........'

https://www.google.com/amp/s/www.thedailystar.net/opinion/views/news/our-energy-plan-full-pitfalls-3528961%3famp

More opinions like this please...........

'There is no alternative to reversing the damage caused by unsound policies whereby the country moved away from self-reliance to a mostly import-driven national energy policy. There is still time to get out of this get-rich-quick mindset before the whole house of cards comes crashing down on everyone's head.'

https://www.google.com/amp/s/today.thefinancialexpress.com.bd/editorial/slashing-of-subsidy-spells-doom-1706276645%3famp=true

The highs and lows of Sharebare2! :))))

Great news. As the RNS stated GCM will look to resolve the accounts and funding before the end of Jan24. The big question is who has pumped the money in? They obviously feel the chance of a good return is possible and the outcome for GCM is looking good. Or was it Tang putting up the money to pay his wages whilst further strengthening his grip on GCM with another 30millioiln shares. And why would Allenby take share warrants if the company is about to be delisted?

The suspension should now be lifted and allow trading again.

The AGM should be announced soon also. That's going to be interesting. Is it a personal issue with Taylor-Wilkinson, will he be replaced immediately, or is it a ploy to delist the company. The funding issue could have done the delisting so why fund until May24 if he wants to delist the company in February. If Taylor-Wilkinson was only a temporary fit then why is he refusing to leave? Like the investor, does he see a good outcome coming and doesn't want to leave unless he's forced?

Seems a lot is happening internally. If greed is at work then that would indicate that there is a pot of gold coming.

Every shareholder concerned about their investment should be attending this year's AGM. Every vote counts and we can't allow GCM to be delisted.

Seems like an orchestrated attack on Tang today. Time will tell if they are right. 7 days to wait!

Reminder Tang was awarded a Datuk for his services to Malaysia in updating their energy industry. Tang brought Dyani and Powerchina to the table. An agreement with GCM ratified by the Powerchina Chairman himself. The lobbyists DGI look rock solid with some influential energy experts on their board. GCM hold the licence and Powerchina agreements are all with GCM.

Nobody is running off with the licence and starting from scratch at this late stage.

It is fact that Bangladesh is running out of ForeEx dollars. Its also fact they only have enough ForeEx to buy coal for months not years. It also fact that they need coal for the coal power stations they already have in operation and for the new ones soon coming on line. Capacity payments have to be paid if these powerstation lie idle. Phulbari has coal to run their power stations for 30 years. No more ForeEx woes. No more energy blackouts.

GCM is probably in its strongest position for a very long time.

'The Company is progressing on both matters and will look to resolve both issues before the end of January 2024.'

1 week to wait and all will be revealed 1 way or the other.

'once delisted a company can not relist for 5 years & required a minimum of £3m in the bank.'

Where did you find this information?

'Net foreign direct investment (FDI) in Bangladesh fell by nearly 40% in the three months to September 2023, putting stress on the country's shrinking forex reserves.........

Bankers say that foreign investment is likely to remain low in Bangladesh as long as the country's economy continues to be plagued by corruption, poor governance, low labour productivity, and underdeveloped money and capital markets.'

https://www.google.com/amp/s/www.tbsnews.net/economy/fdi-plummets-40-sept-quarter-amid-shrinking-forex-reserves-779074%3famp

Its a farce Henry.

Hamid lives in clown world. According to him 12000MW solar park is on the way and an unlimited gas supply by 2026! Roll on 2036 and he'll still be promising the same fairytales.

Will it take Bangladesh to go bankrupt and with no dollars and no power before the clowns start digging the black gold? Their future energy plan is based on burning a lot of coal, they just don't have the money to buy it! There's only 1 solution to stop the power blackouts AND save the foreign reserves AND inject massive investment dollars into their failing economy.........

'However, a positive trend has started in the import of total products as the import of coal has increased abnormally. Six power plants in the country are generating electricity using imported coal as fuel. Among them, Matarbari power plant has been added in the current fiscal year. A large amount of coal is being imported for these power plants. With this, the growth in coal imports has crossed 104 %.'

https://www.risingbd.com/english/interview/news/101689

'Electricity generation in Bangladesh tumbled to around a third of the overall capacity for scarcity of natural gas amid sagging winter demand........

"I now see no quick fix to ramp up the country's natural gas production from the local gas fields," says another energy expert, Prof Badrul Imam.

It is the outcome of mounting dependence on imported LNG instead of enhancing natural-gas output, he says about how the country is being made import-dependent in this particular case.'

https://www.google.com/amp/s/today.thefinancialexpress.com.bd/first-page/power-output-squeezes-to-one-third-of-capacity-1705340492%3famp=true

'State Minister for Power Nasrul Hamid has been given the responsibility of the Energy and Mineral Resources Division as well. '

https://www.google.com/amp/s/www.tbsnews.net/bangladesh/state-minister-nasrul-hamid-gets-charge-energy-and-mineral-resources-too-775474%3famp

Why keep coal underground while energy import bill soars, ask experts

https://www.google.com/amp/s/www.tbsnews.net/bangladesh/energy/why-keep-coal-underground-while-energy-import-bill-soars-ask-experts-761542%3famp