By Tom Winnifrith, The Sheriff of AIM | Tuesday 21 June 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
There are five directors at New World Oil & Gas (NEW), two new regime (Adam Reynolds and Nick Lee) and three of the utterly loathed and discredited old guard who spunked £33 million of other folks cash on deals that were eith fraudulent (the fake Sheikh) or just crap. How Messrs Einchcomb, Polakoff and Sztyk have the brass neck to hang around like a lingering mega fart defies belief. But not for much longer.
I am reliably informed that flip flop Ben Turney and his shareholder action group - who speak for c13% of the equity - has yesterday called an EGM to outs the three disgraced directors leaving Reynolds and Lee free to crack on with the Big Sofa RTO.
Two of the directors will be up for re-election at the AGM but under Channel Islands Law that does not need to be held until September 2017 and Turkeys wont vote for Christmas and hold it earlier. But these useless mothers can only postpone the EGM until 20 August at which point they know they will lose as they own almost no shares and are universally detested and despised by all other shareholders.
That will tie in with what I hear about a timetable for a Big Sofa reversal so this EGM will disrupt nothing. If Sztyk, Polakoff & Einchcomb cared about their reputation rather than what last pennies they can grub out of New they would resign now and spare the company the cost of the EGM. But they do not.
These guys are greedy motherfuckers who almost destroyed this company so they will hang on. Suffice to say we urge ALL shareholders to ensure they give a proxy vote to flip flop and to let New World that they have do so, in order to ensure that if the three poltroons cling on they are evicted and humiliated at the EGM.
To the three poltroons we say: If you hang on prepare for two months of vilification and - more worryingly for you - revelations on this website. It really is not worth it even for what moolah you can get from New during the next eight weeks. Walk, I say walk.
The company was not available for comment
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