||EPS - Basic
||Market Cap (m)
Blenheim Nat. Share Discussion Threads
Showing 1401 to 1421 of 1425 messages
|18th Oct 2016 Oh dear, oh dear, oh dear. There’s trouble brewing at AIM-listed Blenheim Natural Resources (BNR) in the wake of a total disaster at the company’s AGM. In an RNS released yesterday at 3.19pm (HERE) the company announced that every single one of the resolutions put to the AGM were rejected. Thus, following the departure of Chris Cleverly of African Potash (AFPO) infamy, two further directors have been ousted as their retirement by rotation became permanent as shareholders voted down their re-election. The question which one might ask is why shareholders would reject each and every resolution put to the AGM – even spurning the opportunity to receive the company’s financial statements for the year to April 2016 along with the directors’ and auditor’s reports, and rejecting the re-appointment of PKF Littlejohn LLP as auditor. One wonders whether the Emphasis of Matter raising a material uncertainty over the company’s ability to continue as a Going Concern raised in the Auditor’s report in the Accounts for the year ended April 2016 influenced the rejection of PKF Littlejohn. Or was it the fact that the company took an investment from Chris Cleverly’s African Potash, appointing him to the board, not long after that company raised cash from its Finance Director’s wife in what was (at the time) the most expensive loan in AIM history. Well, whatever. But the company now has a problem. In its Auditor’s report in the (rejected) FY16 Accounts, PKF Littlejohn tells us that: EMPHASIS OF MATTER – GOING CONCERN In forming our opinion on the Financial Statements, which is not qualified, we have considered the adequacy of the disclosure made in note 1 to the Financial Statements concerning the Company’s ability to continue as a going concern. It is dependent on the Company’s ability to raise funds, renegotiate the terms of its convertible loans, and generate returns from its investments. With resolutions to allow the board to issue more confetti also rejected at yesterday’s AGM, this really is a mess. The remaining two directors (out of five just a few weeks back) are, apparently, now in discussions with shareholders regarding the appointment of replacement directors, and the company is to convene a GM to have another go at getting resolutions allowing the directors to issue shares. Thus, we might expect that either goes bust if the directors can’t issue more paper, or there will be a deeply discounted rescue placing in due course. Of course, it is highly unusual for an Annual Report to be voted down at an AGM, and for the reappointment of Auditors also to be rejected. Does someone know something? Alternatively, Grant Thornton - Nomad to such fine enterprises as the now delisted Teathers (TEA) might decide that it doesn’t really fancy getting mired in yet more controversy and walk. In the circumstances, what Nomad|
|Kod up 20% this surely should be higher than 1p .less shares in issue|
|Hi Pegasus do u know something we don't ?|
|1.2p coming when deal announced still great upside here in my opinion|
|SFO and FCA?What about the chairman buying stock on the 14th and 16th of DecemberWill he be investigated as well?http://www.investegate.co.uk/blenheim-natural-res--bnr-/rns/director-pdmr-shareholding/201612190700101713S/|
|Anyone notice how the share price advanced this week ahead of the announcement
No doubt the Stock Exchange will launch an investigation|
|TW is already printing the T-shirt. Scam IGSFRAUD BNRFRAUD AFPOWhat a terrible world we live in according to TW|
|SEN cleaner shell with more cash than mcap and Jeremy King looking into next deal.|
|IGS is a scam as well.|
|Keys placees will sell into ride no doubt|
|Its basically a shell, a relatively clean one with a c30% interest in BGS which is a similar but smaller company to SRK.
Board look to be competent and the deal they have with Tam Mining looks to me like a RTO potential onto this.
Look at Tams website looks set up for a listing. BNR will have 7.5% if they list prior to August 2017 so given the Tam asset looks a very decent grade copper project that Vale once pursued that 7.5% agreed before coppers superb end of year run could prove very shrewd.
With the marketcap so sub £1m I think this represents a decent punt for those who have very much a risk attitude and a period of time to allow for the fruition.|
|Think placing due here but will go crazy afterwards like kodal has|
|Is a placing coming? Cash was a little tight in last accounts and a stake in an unlisted company is it's only asset I think off hand.
Seems like the market has deserted it, though a few buys keep appearing.|
|Is this a quiz thread?
Lots of questions - no answers.|
Who and why?|
|Interesting, Great spot!
It wasn't me...
Consulting on a new boss hopefully who can sort this out!|
|Who was paid in shares to cover consultancy fees?
|Give us something positive...make us rich!|
|Yawn...here we go again.....boring!
|Think your into something!!|