I had hitherto suggested that serial liar Liam McGrattan and his gopher at US Oil & Gas wee Brian McDonnell were the true comedy geniuses of the listed world, but they have a new challenger, young Conrad Windham of All Star Minerals (ASMO). All Star has today issued a release:
All Star announces that it has received notification of a technical default on the Convertible Loan Note ("CLN") that was issued to the Company by ISDX listed, U3O8 Holdings Plc.
The CLN which was of £46,500 principal and carried a 10% per annum coupon was issued on 8 October 2013. Under the terms the Convertible Loan Note is immediately redeemable.
The board is in communication with U3O8 Holdings Plc about the situation and will update the market in due course.
The board of All Star is Conrad Windham and Tomas Nugent.
Now what the release does not say is that the board of U308 is …..Conrad Windham and Tomas Nugent.
Er…..so let’s imagine the scene. It is 10 O’Clock in the office of All Star Minerals and Conrad wanders in with two extra skinny double shot latte’s with cinnamon toppings and pipes up: “Tomas compadre this one is on me, any mail for us today?”
“Yup” says Tomas. “I’ve just opened it. It is the letter we sent ourselves yesterday”.
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