Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
Many thanks for the postings Hunniford 👍
Looking forward to Oriole being more proactive on PR front
4200 followers 🔥
Openheimer gets the middle cell, or perhaps a padded one for the loon.
Lets see what end of day brings 👀
Really enjoyable video that was!
highlighting all the strengths BCM bring to the table as our JV partner.
Established over 30 years in Africa, 5,000 strong workforce, all plant machinery needed for mining/ open pit operations.
liked the snippet by our new CEO ‘get both projects into production’
So much news outstanding absolutely buzzing to see what the future holds
Great job Oriole & Tim.
Another legacy asset value realised, and another uncertainty removed! 👏🏻
Great to see. Clearly Oriole are spinning a lot of plates at the same time.
What news drops first?!
Perhaps Eileen wants our new CEO to concentrate on monetising some of our assets, get Oriole’s cash flow positive / beef up balance sheet.
Cement license off-take / royalty deal
Lithium free carry partnership deal
New JV’s in Cameroon
Senegal sale of stake or royalty %
Turkey interests
Elephant oil shares
But 100% agree, buy on open market now to show his interests align with everyone will show trust & confidence.
I wasn’t expecting Tim to leave but ces’t la vie.
Anyone know around background info on our new CEO and how Alexandra mining performed under his stewardship?
I reckon so.
But at least our voices have been heard and acknowledged.
I have received a e-mail back from Oriole. Below is part of the message relevant for all.
“Earlier this month, we reminded Lanstead of these reporting requirement and brought the bulletin board comments (discussing FCA non-compliance) to their attention. They have confirmed that they are well aware of their obligations and that, since their first investment in 2007, they have always filed a TR-1 notification as and when one is required.
We will continue to monitor the situation closely.”
I have replied back basically saying it is Beyond comprehension. Lanstead have not sold less than 40,000,000 shares, for them not to trigger a holdings update since December.
But when they do, we’ll all see how devious these charlatans operate.
A chain is only as strong as its weakest link….
Hi Wonkey
This really does matter alot, not just for transparency on current updated holdings. But it forms a ‘fair & orderly’ market.
The rules are the rules. There is no grey area.
The reason why Oriole is culpable. Is it signed into the agreement with Lanstead. Therefore this falls under the CFO’s remit of responsibility. To ensure all parties conform to the law.
If Bob doesn’t sort this out, and we don’t get an updated TR1 from Lanstead before the AGM (24/6).
Then i will be voting ‘no confidence’ in him.
How can we as SH’s trust someone, to broker new deals that are in the best interests of the company.
Bob should have been on the ball months ago hounding Lanstead to pull their finger out!
Rant over (not aimed at you in all way)
AGM is confirmed on 24/6/24
Fyi to shareholders.
Integrity once lost cannot be restored.
Bob Smetton was the architect to this deal and it falls at his feet all parties adhere to the law all companies must comply with to be listed publicly.
i am getting fed up, that we as SH’s get shafted by organisations that think they can get around the rules because it doesn’t apply to them.
clock is ticking!
“To Oriole’s management,
I write this message demanding an explanation into why Lanstead have not issued an up to date TR1 notification of holdings since;
28th December RNS Number : 1119Y
Please correct me if i am wrong.
Under the Companies Act 2006
DTR 5.1.2R section 1
“Person must notify the issuer of the percentage of its voting rights he holds as shareholder or holds or is deemed to hold through his direct or indirect holding of financial instruments falling within (or a combination of such holdings) if the percentage of those voting rights:
(1) reaches, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100%”
As under DTR 5.3.2R
“a "formal agreement" means an agreement which is binding under applicable law.”
Since terms were agreed for RNS Number : 8265H
I’d like to quote the below which is taken from Oriole’s website under corporate governance.
“All Directors, management and staff are expected to consistently apply the highest ethical standards to their conduct to ensure that the Company’s affairs and reputation are at all times maintained at the uppermost level. It does not tolerate any corrupt practices.”
It is of my belief and other shareholders. Lanstead are not adhering to the law, that all individuals / entities must adhere to.
I request Oriole make contact with Lanstead, to provide an up to date notification of holdings that they are duty bound by law to inform the market.
It is not acceptable 4 months have lapsed without any update, as this lack of transparency does not form a fair & orderly market!
What does Oriole intend to do about this issue, that many shareholders are angry about? Or do i need to contact the FCA and report a suspected breech of TR1 notification rule breaking, Lanstead may have commited.
I look forward to your reply”
Quoted below from Oriole’s website under section ‘corporate governance’
‘All Directors, management and staff are expected to consistently apply the highest ethical standards to their conduct to ensure that the Company’s affairs and reputation are at all times maintained at the uppermost level. It does not tolerate any corrupt practices.’
🤔
I will be sending an e-mail to Oriole first and depending how they respond, will decide what actions i take next….
This is absolute criminal what is going on!
100% agree Hawaii50
If Bob Smetton is reading this. He better pull his finger out and crack the whip.
Or else i’m voting him out at the next AGM
Hi folks,
Again i reiterate the point, Lanstead must adhere to rules.
Failure to notify the market of TR-1’s adjustments is breaking the law!
I’m just thankful every share they sell, its one less these loan sharks have.
Warm regards to all
Swann is doing what we as all SH’s wish we could do. Wield power removing incompetent overpaid deadweight.
No one can defend them saying they haven’t had the time to implement changes. They’ve had an abundance of it! (And wages).
The only outstanding issue left is.
Do they jump or get pushed out?