Stratex Share Discussion Threads

[observer007] 24/11/2017 06:51

Peter Gyllenhammer has taken a stake in Craven House a Merchant Bank that works on mergers, acquisitions and provides finance for the same.

Interesting.

[jimbowen30] 24/11/2017 05:58

Exbiz
Actually I have spoken to Bob on several occasions before! FWIW, I think Stratex needs a complete clear out, starting with Peter Addison. The rot starts at the top.

[steve1905] 23/11/2017 22:51

Addison invited Bob back on board, so it's fair to assume he has his support

[tadtech] 23/11/2017 22:31

Glib

My understanding is the other investors in TSR are happy to accept Stratex shares on the terms proposed.

[tadtech] 23/11/2017 22:27

Frankly I do not know how Peter Addison can sleep at night given recent events.

At the meeting the 1st vote by show of hands was for his tenure, 90% of the shareholders voted for his removal, he seemed unsettled but carried on with the remaining resolutions.

When the proxy results came in he was visibly relieved that he kept his position, he won by 1m shares, the board almost certainly lost all the remaining resolutions. You would have thought he would have got the message and immediately called David Hall and Paul Foord over to discuss the way ahead, on the contrary.

[glibgibon] 23/11/2017 22:05

Thanks for the reply Tad.

Not sure how TSR can sell the remaining 70% though. There are other investors that have a slice of TSR, so there wouldn't be 70% left? I'll keep an eye out for any new releases.

[romeike] 23/11/2017 21:51

As it happens some shareholders will be meeting with Bob over the coming weeks.

[jimbowen30] 23/11/2017 21:31

romeike,

How about shareholders on this board request a meeting with Bob?

Again I would urge as many people as possible to contact Stratex and make their feelings known again. It's worth contacting the Nomad too.

[romeike] 23/11/2017 20:47

@Tadtech I fear you are correct and have said as much to Paul. Even if they get through to Bob, he would still have to convince the board and that isn't going to happen realistically without shareholder pressure and action. I would like forum members here to initiate a requisition now but we can allow some time for Bob to listen to the TSR guys.

If Bob isn't at the stage of serious discussions with TSR by mid December I might go nuclear.

[tadtech] 23/11/2017 17:22

romeike

Bob Foster does not have a mail account it seems, I got a bounce message some days ago. If you email the company Claire will respond with the usual 'company line'

[melodrama] 23/11/2017 16:43

Reckon MMs want stock, those 1.111 trades looks like sells, but ADVFN have as buys. I bought a few today, for better or worse, principally due to PG's presence and a poss Board boot out in the future. Their collective "skin in the game" is a pathetic 2%. Enough said.

[exbiz] 23/11/2017 15:32

You were right first time romeike

[juju44] 23/11/2017 15:05

Well he certainly was never accountable

[romeike] 23/11/2017 14:42

Emails to [e-mail] are no longer working. Does anyone have his new public email address or is Bob now unaccountable, I mean, un-contactable?

[tadtech] 23/11/2017 14:33

GP Jersey sold their 20m shares to Peter Gyllenhammar weeks ago, they have just declared the sale via TR1.

I believe they voted for the resolutions.

For those interested the highest number of votes Stratex received at the General Meeting was 145m, this included the 53m Anglogold shares that 'mysteriously' changed hands and swapped sides at the last moment.

You can see how heavily the Board would have lost all resolutions without that intervention despite huge efforts (at shareholder expense) to attain votes in their favour.

[corguv] 23/11/2017 14:21

Did Jersey buy them just to vote for the BOD/Crusader deal to try thwart the majority of shareholders large and small ?
But inspite of the shenanigans lost and sold ?. Looks that way ?
Who was behind it, anyone we know ?

[shortarm] 23/11/2017 14:05

Exbiz, they sold them to Peter G a week or so ago

[exbiz] 23/11/2017 13:58

Interesting to see J.P.Jersey have bailed, not so mush surprise that they have bailed, I mean who can blame them, more so that they were easily able to dump them.

[juju44] 23/11/2017 11:58

Foster wrecked the company reducing its value by 90% over a few years. Now they bring him back to kill off the other 10 % . This is all an outrageous scandal . These people have filled their wallets with our money . Lock them up

[romeike] 23/11/2017 11:57

@JimBowen30 Thanks for that, I think we all agree with all of those points and hope Bob will see sense.

I share the hopes expressed on the forum concerning investors like Gyllenhammer, but at the same time it is really important for us here to get across our critical message to Bob Foster that we want a turn around to start now, not in 12 months time. This means we want a declared strategy announced within two or three weeks at the latest.

[tadtech] 23/11/2017 11:42

For anyone wishing to contact the Nomad concerning corporate governance at Stratex during the period of the proposed Crusader Resources merger, the Englebrecht situation + the new potential conflict of interest concerning Hannam & Partners.

email address is....

[e-mail]

I fully believe the Nomad should investigate the last minute sale of Anglogold's 11.5% stake a day before the General Meeting, who brokered this deal and what price was paid?

[jimbowen30] 23/11/2017 11:17

Romeike,

Further to your post yesterday I too have contacted the company to pass on my views. Specifically:

1) My surprise at the proposed Crusader deal.
2) Altintepe give away sale and GRL stake sold just before the requisition vote.
3) Peter Addison should step down as a Chairman. Stratex has a lot credibility to regain with shareholders and the market now.
4) Expectation that Bob will enter into discussions with Thani Stratex.
5) Loans made to Crusader are repaid ASAP and that any severance pay due to Engleburk is withheld, given the damage to share price and Stratex shareholders.

Stratex say they are keen to meet shareholders and engage so I would urge as many investors to contact Stratex with their views. The current situation is unacceptable.

[observer007] 23/11/2017 07:47

I think it is only a matter of time before we see some action from the likes of Peter Gyllenhammar and other large shareholders.

PG has bought around £600k of STI shares so far and probably wants more, get a new management team in place ASAP and he could potentially double/treble his money in time.

The 'problem' is 70+yo Peter Addison, a stubborn man who refuses to step down, the return of Foster, a failed CEO, is a disaster.