The challenge, page-83

wabbit. De-consolidate? and only a few months after the board decided to and carried out a horrific 100:1 consolidation. It shouts INCOMPETENANCE very loudly.

There are also rumours I understand about that a number of very large holders of shares in this company who are extremely unhappy at where the share price is at and their inability to trade out of EGO.
There is money to be made elsewhere in this market, take AWE for example just about doubled its shareprice from their lows a few months ago and their investments are trapped. They cannot trade, the EGO's stock is illiquid. Their investments are basically trapped in a lead box at the bottom of the ocean.

ERM is a very large shareholder as is director Garrett surely they are not ecstatic at what has happened to this company. What is their position I wonder should the board need to sell the RG plant to repay EGO's debt to ERM?

Singa71 posted some time ago that changes will be coming, I believe March he said.
If what you are rumouring wabbit, is correct it may appear then maybe Singa is right.

Is "de-consolidation" at term, is there such a thing and how can it come about?

Then again if a "de-consolidation" is being mooted in high places then may be another action is in play, a 249D. Now that would be something wouldn't it. Three 249Ds in a row.
Surely the regulators would need to have a look at EGO it that were to happen.

The small trades this week are too small to mean anything some shareholders have quit with big losses and others have bought them who may have also heard rumours and if what is occuring in the wider O&G sector has legs, who knows. They will want to have a presence should any action occur I imagine.

Jake002 posted back on 12March of a number of good people who could take control of EGO's levers if circumstances prevailed.

Non-executive directors
Bruce J. Phillips Chairman
David I. McEvoy Non-Executive Director
Kenneth G. Williams Non-Executive Director
Raymond J. Betros Non-Executive Director
Karen L.C. Penrose Non-Executive Director
Executive director
Bruce F. W. Clement Managing Director

It is passing strange also that Jake002 mentioned Bruce Clement who is resigning from AWE and will leave office anytime between now and the end of September 2016. He has a lot of experience and knowledge of the Perth Basin which no member of EGO's board has. They hire consultants.
In ending this post I am quite surprised that you wabbit have mentioned this rumour of a "de-consolidation." You either are a fly on the wall in EGO's offices or you know someone who knows......................

It seems we may have interesting times ahead.
I for one do not care so long as EGO's share price goes up to the point where I can exit this stock. It has been a nightmare...............literally.

From AWE's announcement today.
It It is expected that Mr Clement’s employment with AWE will come to an end in September 2016 or such earlier date agreed between Mr Clement and AWE.
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