By Tom Winnifrith | Wednesday 31 August 2016
Following the example set by Paul Warwick the chairman of worthless penny stock Andalas (ADL) in starting a blog, Sir Benjamin Dover of AIM listed Global Mining Endeavours has decided to follow suit and like Paul promises to be Candid in his approach. Blog number seven....
You can see all the entries in The Chairman's Blog HERE
August 31 2016
I had completely forgotten that Monday was a bank holiday. And therefore Miss Skirt and I had a full day to lick the press release, announcing the placing the oik Bellis had arranged, into shape. I can tell you that we were hard at it all day and by Tuesday morning, when the the RNS went out, I was jolly exhausted.
Global Mining Endeavours is pleased to announce that in an oversubscribed placing with institutional investors it has raised £1.01 million at 0.04p. The funds will be used to advance the company's exploration prospects at L'Ebola in Bongo Bongo land and for general working capital purposes.
In order to incentivise key management personnel the Remuneration Committee has rebased the Long Term Incentive Plan (LTIP) for chairman Sir Benjamin Dover and CEO Mr F Van Dinkum with the strike price amended from 0.1p to 0.04p. The board, having consulted its advisers, feels this demonstrates the alignment of interests between our key staff and shareholders.
Sir Benjamin Dover, chairman noted "The institutional support for this oversubscribed placing is a clear sign that at last the market is realising the potential of our world class assets."
Our PR chappie Tarquin was a little concerned that somehow his personal assistant young Sebastian had sent a draft version of the release to the Exchange for Release and that the authorities in the Ivory Coast might take offence at the reference to Bongo Bongo land.
As Tarquin told Sebastian that he was a very naughty boy, I assured them both that I know how to deal with Johny darkie and that there would be no problems. It might cost us a few Swiss Francs but the fellows in the jungle and I speak the same language when it comes to lubricating the wheels of International Trade.
I was disappointed to see that the shares are now back from 0.085p on Friday to 0.045p. Bellis says that this is down to some confusion by the market makers and assured me that none of his clients at Beaufort Securities would consider flipping the shares as they were solid blue chip long term investors.
I was equally disappointed to see this morning that the Financial Times had not reported on our placing and that the only commentary was from that peasant blogger Winnifrith who appears to have photos of Miss Skirt emerging from my hotel room at the "Diggers & Dealers" conference in Australia last year re-adjusting her clothing and with her hair rather disheveled. The headline Said "The only real gold digger at Global Mining."
My good friend Chris Cleverley from African Potash was on the phone at once. "Get your PR people to put out a statement saying that you are considering legal action for these disgraceful slurs" he said. "But it is all true I replied." "Exactly said Chris. You know that, I know that. But the idiots who own your shares will believe every word you say as they know that chaps like us are respected directors of companies on the world's most successful growth market so will always tell the truth." Gotcha. Tarquin was on the case at once...
To be continued...
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