Longford Energy Inc V.LFD

Financial Post today

[RockLobster1]

https://business.financialpost.com/2012/07/12/longford-energy-facing-shareholder-battle-over-dividend-cancellation/

here is the latest article, interesting times indeed!

What is odd is to hear that Salida is supporting this, as they were quoted by Amhed Said as being the mystery large shareholder that didn't want the dividend, and now they want to dump the board....

Has everyone sold and moved on? This board is dead now!

[oilystocks]

It's pretty obvious that Salida wants the shell of the LFD company and the cash it has in the bank.  Likely to put in place it's own directors to aquire/chase another asset (mining?).  Hence no dividend, they need the cash or the company would be worthless.    If this all goes through LFD will be unrecognizable from it's current state.

[taxistealer]

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[RockLobster1]

keep in mind it is Goodwood who are behind this with Salida.  Yes could go either way, either they want to use the cash, or they want to liquidate which maybe we could get 20 cents.  Either seem better than what we have since we dont trust a mgmt that extracts 20% for no reason and stuffs in their pocket.  Crooked is the word that comes to mind. I have a lot more faith in these guys

[coolrunning]

It is more in the sub $.17 range.  When you look at the Q1 financials and take the sale proceeds less the payables and management termination fees you get about $.17/share.  3 more months have passed, so there would be additional cost incurred (like fees for the lovely management team), so the number would likely be less than the $.17 plus you will need to take into account the cost of