Bowleven Share Discussion Threads

[wshak] 17/3/2017 09:39

Pure idiocy from Billy Allan has prompted this, I'm afraid.

It was obvious that this would happen to anyone with half a brain cell - it is simply staggering that Allan didn't make overtures to heal the rift between Bowleven and its shareholders rather behave in such a stubborn manner.

I guess it's not his money being wasted ...

[neilyb675] 17/3/2017 09:36

Wowser ✔

[winnet] 17/3/2017 09:32

Waiting to see what our board say first YASRUB.

It is conceivable that Allen would step down without a Plan B

BTW - Energ voice article: hxxps://www.energyvoice.com/marketinfo/134157/bowleven-shares-drop-boardroom-coup/

[yasrub] 17/3/2017 09:30

Winnet I take it you are buying again.

[winnet] 17/3/2017 09:26

this just absolutely stinks folks. These people have no interest whatsoever in our company, or its long-term future.

This is an asset strip, plain and simple.

Let hope we can persuade the 30% ish of holders who voted with COC last time to vote with us this.

Remember over 70% of all "other" shareholders voted with the board. Thats a mandate to fight this.

[ctc1] 17/3/2017 09:20

It looks like one of the proposed new directors put forward, Didier Lechartier, was part of the Afren ordeal, and then Petroceltic.

[fft] 17/3/2017 09:19

Presumably coc will buy a few more to make sure.

[winnet] 17/3/2017 09:17

urgh. He we go again!

[ctc1] 17/3/2017 09:09

Pug: ok, you're right, they appear to be prepared to tear the co. apart without regard to the cost ...

[yasrub] 17/3/2017 09:06

COC calling for second general meeting to remove Allan.

[pugugly] 17/3/2017 09:05

ctc1. Looks like a NO NO New meeting called.



"Crown Ocean regrets that it is necessary to call another General Meeting, but it has become clear since 14 March 2017 that the incumbent Chairman is reluctant to accept the verdict of shareholders over the future strategy of Bowleven or to recognise that it is no longer appropriate for current executives to continue to hold their pre-existing executive roles.

Crown Ocean implores the Chairman, Mr Allan, to step down as a director and Chairman now to avoid further unnecessary waste of Bowleven's resources."

In line with my musing in 15852 above.

[ctc1] 17/3/2017 08:52

Pug: Or, as some posters have suggested, common sense and pragmatism prevails and they all start to compromise and work together. gla

[iamthedogman] 17/3/2017 08:49

sorry about that chaps............few too many 0000000000's......hope nobody had heart attack...........having a senior moment..........LOL

[pugugly] 17/3/2017 08:47

ctc1- Assuming Scotsman article correct and Hart still ceo, depending on his terms of employment he needs to be controlled or fired (even if compensation for apparent incompetence needs to be paid) otherwise strong chance of the coy tearing itself apart. Or COC increase shareholding above the magic figure and is required to bid for the whole coy - This would be an absolute steal for them (imo)

[d1nga] 17/3/2017 08:38

what stock dogman?

[ctc1] 17/3/2017 08:35

"Simple in theory harder in practice". A bit naive these chaps from Monaco?

[1msn] 17/3/2017 07:43

Jonno41, that has been on the cards from the start.. I always felt N/A were behind this,
maybe not directly but BLVN will be no longer by the end of this year.. even at 50p we still have 50% upside... still time to bring that average down. Its been a very clever and sly controlled share price that has allowed this to happen.. its a shame no -one with deeper pockets has stopped COC party early..

[loglorry1] 17/3/2017 07:40

Log, the actual cost may actually come down to a vote BUT if the share distribution is now held amongst newer buyers at lower values, which include coc at a 22% holder then they are all going to be in favour of a quick buck fast return. The long suffering holder like myself maybe shouted out and lose badly and I mean badly!

I sympathise with you but the share price doesn't care about you or what you paid. Your vote is as good as someone who paid 20p. You could have taken the decision to average down and be a "new investor" too. The way it works, or should work, is that the majority of shareholders dictate policy. You are also assuming, that holing past appraisals will necessarily mean a much higher share price. That's a risked outcome and not nailed on by any means. The optimal value may well be released pre-appraisals. Lastly, you seem to think that COC will necessarily sell, or vote for a sale, pre-appraisals for a "quick buck". Although that may happen we can't be sure. I expect they'll look at many factors including how much more upside there is, how long it will take to realise it, what risks there are etc. etc. There is no reason why COC should think differently from any other shareholder just because they entered at different points. Going forwards the additional upside or downside is the same for everyone.

Log

[jonno41] 17/3/2017 07:34

I find it pretty hard to believe any holder did not assume someone was backing coc.

A company virtually no one has heard with no Oil or Africa experience buying 25% of Bowleven, acquiring an extra 5% when the vote looked to be going against them, with the BOD shouting "Not in the interest of shareholders".

OK so if you bought in the 20's very much in you interest, but for the LTH such as myself, waiting for true Etinde value to be unlocked, not good news at all.

I would be amazed if the buyer is not NA and the end price for the share is more than 50p.

GLA

[1msn] 17/3/2017 07:33

fatnacker, i rounded the numbers,

[1msn] 17/3/2017 07:33

fatnacker, i rounded the numbers,