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LME, L&M ENERGY LIMITED
MissAdventure
post Posted: Nov 28 2012, 03:59 PM
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In Reply To: SK4ME's post @ Nov 28 2012, 03:15 PM

Hi

Its criminal and its also a done deal now. He claims to have commitments for 74% so not far to the 90% he needs for it to be compulsory. I notice he thoughtfully sent me 2 forms - one to accept now and the other to rescind my acceptance just in case that white knight charges over the hill and offers more. Hah!

I think the only benefit of filling out the form is you get the funds deposited direct to your bank account rather than waiting longer for the cheque and then having to wait in line at the bank to deposit it.

I'm hoping karma gets him in the end - not that I'm a bitter disgruntled shareholder or anything. mad.gif


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SK4ME
post Posted: Nov 28 2012, 03:15 PM
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I too am a long term holder and it owes me around 20 cents so you can imagine howimpressed I am. What a rip off! What happens to those who don't accept the "offer"? Assume they'll be sent a cheque for their shares in due course?

 
MissAdventure
post Posted: Oct 30 2012, 11:13 AM
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In Reply To: keneti's post @ Oct 26 2012, 03:22 PM

I've just been reading through the terms of the loan/convertible note agreement that was set out in the Notice of AGM in May 2012. Looks to me like Directors went into this with their eyes wide open (if they have the ability to think and read that is). The convertible notes were supposedly for an 18 month period but were always able to be converted at a time of Mr Loudon's choosing at a very advantageous rate. What did they think he was going to do then? This was a well orchestrated plan and it looks like he will succeed. Its no use directors now appointing an independent this or that - they signed the company away for peanuts when they accepted his money. Much easier to sit around a boardroom and accept money from a mate than go out and source it from a bank and actually have to do some work. The rest of the directors will lose their jobs as I doubt they will be invited to join New Dawn and it serves them right. A big disappointment for shareholders.

 
keneti
post Posted: Oct 26 2012, 03:22 PM
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well what can one say, i have been along term holder believing and supporting a company which i thought had great promise in the area i live ie the lower south island, with the positive results and sign off agreements inititially regarding csg i fully expected a result, its almost as if they have shut up shop, what happended to gas? has it gone away? , hiding somewhere?, yes i imagined at some time another capital raising was on the cards but this latest announcement hit me for six, with kea petroleum having onshore sucess in Taranaki recently it boded well for LME. Mr Loudens tentacles spread far and wide and the big boys in toronto are no doubt pulling the strings, i am not a short term trader, i invest in fundamentals, i thought this company fitted the brief. im not happy but what can we do/

 
sharp737
post Posted: Oct 26 2012, 10:21 AM
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In Reply To: MissAdventure's post @ Oct 24 2012, 03:43 PM

Hi Miss

Yes, I think you have summed this situation up very well. To me, it's like corporate fraud and should be looked into.
I do not have any faith in their "independent valuers"

They know darned well that LME's prospects in Taranaki are potentially very valuable

Sharp

 
MissAdventure
post Posted: Oct 24 2012, 03:43 PM
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In Reply To: sharp737's post @ Oct 24 2012, 02:33 PM

Yes, a real rip off, but what can you do? Its doubtful ASIC or any of the other watchdogs on either side of the trench will step in to ask questions if no other bids are received.

I have held this for many years at 10c plus waiting, waiting, waiting. The main protagonists are directors of BOTH companies. Can you believe it? They obviously know the value or they wouldn't be trying to buy us out and keep it all for themselves. Conflict of interest any one? Guess that's what happens when you don't have proactive management. They let the cash position and the sp both dwindle to nothing, accepted a A$5m loan from Geoff Loudon they they cannot now repay and still they sit on their butts.

That's the share market for you.

 


sharp737
post Posted: Oct 24 2012, 02:33 PM
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In Reply To: keneti's post @ Apr 15 2011, 12:01 PM

So now a take over offer for a measely 6c a share - looks like a real rip off to me

 
keneti
post Posted: Apr 15 2011, 12:01 PM
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In Reply To: sharp737's post @ Apr 8 2011, 04:59 PM

Sharp, i agree with you, upside potential rolleyes.gif according to latest broker report gas in high demand with local market ready to take what ever amount they can produce. Csg not really on the radar here in NZ I dont think people understand what a huge resource we are sitting on, now lets see the results of that pilot well

 
sharp737
post Posted: Apr 8 2011, 04:59 PM
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In Reply To: keneti's post @ Apr 7 2011, 03:15 PM

Yep, am following LME. Have a few, been very slow last while but this is definitely a plus for LME. Just taking its time but the wheels are grinding on and then all of a sudden one day, it will explode imho

I think its a good longer term company and of course, there are some interesting oil prospects with a drill coming up in Taranaki.
That could give a nice little bump to the share price smile.gif


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keneti
post Posted: Apr 7 2011, 03:15 PM
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Anyone following this??? could fly once pilot plant is operational
rhttp://www.stocknessmonster.com/news-item?...SX&N=630601

 
 


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