Timan Share Discussion Threads

[buzzzzzzzz] 21/10/2009 07:49

GM

Get a grip, I thought you were made of sterner stuff!

[zengas] 21/10/2009 07:48

The emails sent the day before yesterday to Strand would suggest that Strand were likely to have been in touch with Timan yesterday. Imo this has to show that there was no significant improvement in sorting out the asset return or closer to a resolution and as such Strand have cut and run as they will be shook up with the implications for them that have been put before them in black and white via the emails.

Not an ideal start for Hanson.

[miamisteve] 21/10/2009 07:44

Gowermonkey - We have to see what the reaction of creditors are, and whether Redbell will react with counter claims. There are 3 creditors where serious question marks remain over their role in this fiasco.

Strand, Cobbetts (the lawyers) and Merlin PR ( who also were releasing misleaading information to the markets )

[tadtech] 21/10/2009 07:43

Gentlemen

Would it be any use to contact a representative(s) from the company with a view to arrange a conference call. This has recently been carried out at EEL.

These calls can be arranged within days.

It would give the company the chance to respond to enquiries and shareholders the chance to ask questions before deciding on the next course of action. The call could also be recorded for future possible proceedings etc.

Just a thought from an outsider looking in.

[gowermonkey] 21/10/2009 07:43

Buzz - what hope for us now?

[buzzzzzzzz] 21/10/2009 07:41

GM

The only people who know that is Redbell and Kaminisk.

[aughton 3] 21/10/2009 07:40

THANK YOU AND GOODNIGHT

[gowermonkey] 21/10/2009 07:33

So Miami do you think this is the end for Timan?

[schlemiel] 21/10/2009 07:32

this means going forward we will not be informed of any company developments so how are we to be informed of what is happening?

[miamisteve] 21/10/2009 07:30

What will probably happen is that Strand will be investigated for their professional negligence and receive a warning and a fine of a few thousand quid by the FSA down the line.

But by being found guilty, it opens up the floodgates for a civil class action claim.

It will also mean that the company has a very good reason not to pay them. I understand that they had been demanding a 'success' fee of $500,000 for the Kamanisk financing.

Serious questions remain on their role in not verifying information that was released to the markets and in allowing the 22nd May Kamanisk agreement to be 'legitimised' with an rns release, and for not ensuring that the company possessed the necessary internal controls that would have prevented this scandal to have developed.

They will squirm and come up with all sorts of excuses, because that is what they have done in the past, only this time Raggett will no longer have the 'if you don't do as we say, I'll resign' weapon.

[geordy2] 21/10/2009 07:27

Nomad resignation is the easy way out for the company to delist. Assets will inevitably disappear, result PI's screwed royally. So where are the regulatory authorities in all of this and more to the point what is the role of the NOMAD, whose interests do they represent if they are able to bail out when things get sticky.

[schlemiel] 21/10/2009 07:12

this happened to Urals Energy (UEN) in July of this year but yes, you're right this is a serious development indeed.

Going from bad to worse

[cfccfc1970] 21/10/2009 07:11

Miami/Tone,

Spot on.

cfccfc

[gowermonkey] 21/10/2009 07:09

Todays announcement really does not help things. I think this is a dead duck

[fireplace22] 21/10/2009 07:07

Nomad resigns:

[miamisteve] 20/10/2009 19:53

cl2201 - 'From the information that I have received things have turned desperate' - The only fact that can be drawn from that statement is that I had received information, not that the information itself was indisputable fact. I will leave it to individual readers to assess whether 'desperate' is a suitable adjective to describe the current state of affairs.

The EGM would be the very forum where cold hard facts can be given from all sides. Where concerned investors will be able to ask directly to the board and the board will be able to answer, where under other circumstances they are constrained by confidentiality regulations. You'll have seen one of the topics we wanted addressed was clarification on the legality of the transfer.

I believe that Beliks / Redbells / NRB's intentions are genuine, but consider that they were vastly under prepared for running Timan and tackling Kapalin and Kuanyshev. I haven't got the impression that this is a case of carefully calculated moves by a russian chess master.

I am extremely uncomfortable at the idea of the company delisting and want assurances on what they intend to do and that they are also to be accountable for this decision. Not hide behind a BVI shell and blame everyone else when the company runs into the administrators.

[buzzzzzzzz] 20/10/2009 18:06

moormoney

If the assets are returned we still own 38% of them even if we are delisted.

[moormoney] 20/10/2009 17:27

Cl2201--if you are of the opinion we should sit it out and wait for Lebedev to sort out. What is your opinion of future prospects for us small investors--if the co delists we will be left swinging in the wind without a murmur surely?
This has happened to me before---CCH being the worst one to sink without trace never to be heard of again!

[cl2201] 20/10/2009 17:18

Miamisteve- Yes, you did indeed write the words 'I believe...', on that occasion. I am not criticising every post you make, so please don't try to make out that I am. If we can just rewind, I just wanted to warn you about making so-called factual statements that are not solid facts such as 'From the information that I have received things have turned desperate'. Now, this was clearly not an opinion.

You are aware of your status on this BB and, as such, please understand that when you make statements such as the one above, some people are inclined to believe what you have to say. I'm sure you are just trying to provide an update/inform shareholders of rumours that you have obtained from certain sources in order to help give a clearer picture of the company's situation. However, if this information proves to be false then you are misleading shareholders, even if you have good intentions.

I am not a hypocrite. I have only stated my opinion, which I am entitled to. You are, at the same token, entitled to ignore it.

It pains me to say but I believe that Kapalin may have transferred the assets legally. I will reiterate, this is my opinion. I have no rumours or other 3rd party information to go by when making my analysis. My reasoning being that A) We are still not in posession of OUR assets i.e. if Kamanisk thought they were obliged to hand back the assets (due to an illegal transfer), then surely they would have done so by now. B) Although Lebedev/Belik considered the transfer illegal, there has been no update stating their intention to pursue Kamanisk through court proceedings.

I will apologise for my comments regarding calling you the Pied Piper. I didn't mean to insinuate that by following you, it would result in 'armageddon'. I have stated on several occasions that I respect your input with regards to calling the EGM/formulating questions to send to the powers that be. I wanted to convey that I didn't think, by delisting, the company would cease to operate, like some people believe it could i.e. not the end of the world. I'm sorry that I did not provide a more concise reasoning for my thoughts at the time.

I am certainly not too intimidated to make a call. I have no reason to speak to you. I have made it clear I do not want to go down the route of an EGM. You may have some interesting information to share but they are not facts, and as such, cannot persuade me to join in the action group. You have more than enough support from other shareholders so, as aforementioned, I wish you well but I have the right not to participate just as those have the right to join.

Buzzzzzz - Thank you for supporting my right to have an opinion.

Cestnous - 'Defeatist BS about hits it on the head'. Have you even bothered to read my posts? I have the right to stay out of the action group, just as much as you have the right to participate. I think the company will survive without the EGM. Now, how is that defeatist?

[miamisteve] 20/10/2009 15:03

Ok. Just send to Belik. Until Soliviev's new details are found.

From what I recall Soliviev doesn't speak that good english and belik is the main figure at Timan.

The protocol to requisition the EGM is very straighforward. No forms have to be filled in. Shareholders are simply asked to write into the company and state their holding and identify themselves. It would be worth checking first if your shares are held in a nominee account as you would be required to state this in the requisition.

[easy74] 20/10/2009 14:05

yes, bounced back for me too.

[chris cat] 20/10/2009 13:09

Just a thought here - If by some legal quirk Kapalin has not broken the law in transferring the assets (directors duties aside etc) and he has sold the assets for less than "they would normally take place in an arms length transaction" then perhaps there is some kind of tax evasion / fraud and we could set the relevant tax authorities on him - because they will hunt him down. I know this may not help our case much but regardless of the outcome I want this man pursued for his actions

[dr fillip strange] 20/10/2009 12:49

cfccfc1970 - 20 Oct'09 - 12:29 - 144 of 144


Miami,

Sent to Belik and Soliviev but Soliviev has bounced back as undeliverable.
Has anyone else encountered this problem.

cfccfc

Yes

[cfccfc1970] 20/10/2009 12:29

Miami,

Sent to Belik and Soliviev but Soliviev has bounced back as undeliverable.
Has anyone else encountered this problem.

cfccfc

[stalliano] 20/10/2009 12:16

I havent read all the posts here so hope not to duplicate matters.I wonder if we will actually improve the position of Mr Lebedev in negotiations by sending this communication ?--I suspect it may well have a very positive effect and certain people should be very nervous now this matter has received wider publicity.
It is possible of course that Mr Lebedev was waiting all along for this to be done?!!