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By Tom Winnifrith, The Sheriff of AIM | Monday 30 April 2018
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.
As Richard Jennings at Align prepares to respond to the woeful EGM defence of Pathfinder Minerals (PFP) incumbents serial trougher Sir Henry Bellingham MP of 3DM infamy and Nick "Not for the many but for the" Trew, a new player has emerged.
A reliable source tells us that the very credible and well connected company Anglo African Capital has offered to invest a starting sum of £200,000 - with more to follow - at 1p. Its connections in Mozambique leave it well placed to sort out Pathfinder's legal mess.
Given that Pathfinder tried a few weeks ago to raise cash at just 0.6p (but failed) and that the shares are now 0.65p-0.7p this offer looks compelling. But we understand that there are conditions: Anglo is demanding that Tory fat cat trougher Sir Henry walks the plank and that grossly overpaid CEO Trew ceases to be CEO but can remain on the board. Anglo would seek to appoint two of its people to the board.
I understand that if Bellend and Trew agree to the proposal which is clearly in the best interests of the company, Jennings will withdraw his EGM requisition.
So Bellend and Trew are you just trying to get as much cash out as you can while you can or will you, for once, put the interests of ALL shareholders first and accept the Anglo offer now?
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