Global Natural Energy Share Discussion Threads

[nod] 16/2/2009 10:30

from the circular: ... GNE will have to make an acquisition or acquisitions which may constitute a reverse takeover under Rule 14 of the AIM Rules for Companies,...

With the help of Hambro could they "acquire" Microgen which could become a reverse takeover. The GNE cash disappears to Microgen shareholders and you guys are left holding Microgen... just a thought.

I use Microgen as the example but perhaps there's an IT company in which Martyn Ratcliffe is a major shareholder?

[model635] 16/2/2009 10:14

nod - Well spotted - the arrogance of these people is unbelievable - they just don't care about the "small" investor. All we want is what is rightfully ours no more no less.We don't wish to give the cash to some faceless City slicker to share with his chums over a glass of bubbly at some exclusive club on The Strand.Action is needed.I'm voting NO NO NO

[nod] 16/2/2009 10:06

John - thanks - would you believe it, they give the wrong web site in their RNS ... anyone would think that was deliberate so you would miss the meeting ;)

[model635] 16/2/2009 10:04

Remember folks that it is important for all shareholders who hold shares in nominee accounts to contact the holder and advise how they are to vote.

Either YES I want less money and a declining return on my investment

or

NO I'd like a return on my shares at the same or greater value as per balance sheet

[model635] 16/2/2009 09:59

guru - you only need 10% to call an EGM - The Circular on the website says draft and has no date?

[guru] 16/2/2009 09:51

Hi Guys, Like some of you I am very annoyed with the way the Non Exec's are handling this. I would have thought it was very reasonable for them to say that if Resolution 1 fails, they will put the company into voluntary liquidation immediately - but instead they have given themselves another 120 days to do....nothing.

What is the chance of us introducing a special resolution asking to liquidate the conmpany? How mange shareholders do we need for such a resolution?

[kooba] 16/2/2009 09:40

this 120 days business is off putting its a bit like if we are defeated on any resolution that thwarts our plans don't expect us to give you any distribution quickly....i supposr the action group could call a general meeting of their own to force issue.

[model635] 16/2/2009 09:33

What is the date of the meeting?

[giovannina] 16/2/2009 09:17

yeah..ok john but of course I will....when you have been holding a share for so long it takes a lot of thought before letting go, but GNE has tested my patience and tolerance lately..... there are shares out there needing topping up...like KYS ...for example...ya know wot I mean.;0)

[nod] 16/2/2009 09:16

I had got down to the last para... but here we are again, those related party transactions that GNE has a long history of... and this is where the cash from PEX will disappear.

The Company has entered into certain arrangements with JO Hambro Capital
Management Limited conditional upon the adoption of the proposed investing
strategy to provide administration services to GNE. In addition the Company has, conditional upon the adoption of the proposed investing strategy, entered into a joint venture with Martyn Ratcliffe through which director/management services will be provided to investee companies. Both of these arrangements are considered to be related party transactions under the AIM Rules for Companies.

[model635] 16/2/2009 09:06

GIOVANNINA - I'd suggest waiting just a few more days to see how the opposition reply

[guru] 16/2/2009 09:05

As Senior Non Exec Director - Mr West has a lot to answer for...

Jimmy West, FCA
Senior Non-Executive Director
Aged 61, senior Non-Executive Director formerly Managing Director of Lazard Brothers & Co Ltd, prior to that was Managing Director of Globe Investment Trust plc. He is currently Non-Executive Chairman and/or Director of a number of public and private companies.

[giovannina] 16/2/2009 08:58

guru+john..I said to you a few weeks ago that this palaver will go on and on and on.......and cash in the bank will go down and down.....I am thinking of selling up my little holding of 15k and moving on....maybe I will regret that but it starts to smell very fishy here.....another 120 days....and then what?

[guru] 16/2/2009 08:41

Sounds like the Directors have secured another 120 days of contemplating their navel, getting a free salary and benefits for not doing anything if the resolution fails......and then what?

[model635] 16/2/2009 08:28

I suppose mathematically they have a chance of getting the ordinary resolution 1 through but without being able to change the company to ITC status it would be a pointless exercise.Why are they bothering with this circular?

[model635] 16/2/2009 08:03

Looks to me like Ratcliffe's corner are throwing the towel in before the fight.They only have 35.4% and they need 75% on the day to get the special reolution through.I doubt anybody else will vote with them so they are flogging a dead horse (which probably sums up their proposed investment strategy).

[model635] 16/2/2009 07:52

They aren't sure are they?

"If Resolution 1 is not passed the Board will review the options available to the
Company and will report to Shareholders within 120 days of the General Meeting
the outcome of that review. "

[model635] 16/2/2009 07:44

The battle begins!

[kooba] 13/2/2009 21:56

sorry guys i have seen bonus' awarded for truely inexcusable incompetance,the directors here did pull off a truely great deal very much in shareholders interests...when they didn't have to..could have just sat there building an ever bigger forecourt empire and paid themselves accordingly year in year out.there is no way in the current environment that you would get the same consideration now than when they sold imo.think they do deserve a bonus for a job well done...and from the looks of it they have managed to get themselves out of a job in the process whatever happens now.

[model635] 13/2/2009 20:14

goml - they wonder off to check their bank balances. You will remember that because they did such a good deal for shareholders in selling PEX they awarded themselves some massive options which they exercised at circa 260p,then they celebrated their good fortune by sharing a one off 250K cash bonus.Now I guess they are working on their severance pay.

Never has so little been rewarded by so much - jealous - who me :-)