The GM to sack chairman Oliver Andrews and more importantly CEO Osamede Okhomina, a man who stands accused of alleged insider dealing, is on 17 January meaning that to cast a proxy vote to fire the bosses and instate Richard “nobody likes me and I don’t care” Jennings of Align Research you need to act before close of play tomorrow. I urge you do do just that and here is why.
In a world where anyone gave a rat’s arse about the rules, ADM Energy (ADME) CEO Osamede Okhomina would already be doing a stretch for his offer to buy shares at 7p made last August after a conference call at which all participants were told by ADM’s chairman Oliver Andrews that they were insiders. I exposed that HERE but it seems nothing is happening. But now a more serious breach appears to have taken place.
Richard “Nobody Likes me and I don’t care” Jennings of Align Research has demanded an AGM at ADM Energy (ADME) to oust the useless board and to install him instead. Jennings will work for just £1. Just two of the directors have, he claims, cost the company almost a million quid over the past two years. The current ADM board is overpaid and has failed, we back Jennings almost 100%. Jennings has today written an open letter making his case, which makes shocking allegations. It is below. Our only gripe with Jennings is that he seems to think that appointing Tory toff Sir Henry Bellingham of 3DM infamy as a NED helps anything. It does not. Bellend is a useless and tainted tosser who should be cold shouldered. Other than this lapse of Judgement by Jennings, we agree with all said below.
Thanks to the Winnileaks service I have seen sight of a letter and thus can reveal that ADM Energy (ADME), already facing legal battles that could bankrupt it and which is set to run out of cash by the end of February even without the legals, now faces another battle. Shareholders owning more than 5% of the equity have formally called for a GM. Not, of course, that the company has bothered to admit as much via an RNS. The rebels call for: