liu
12 Feb 2015
Chineese without GoSL can't keep asset in hand , no one , we are talking about 3td wORLD, LESS THINK
sheltie
12 Feb 2015
Problem is, no one seems to know for sure who is corrupt, and who isn't.
liu
12 Feb 2015
meantime Chineese put claims against AMI, , so nothing will left for sharesholders ,btw , can't blame Chineese , ami management , fu,,ked us totally ,
liu
12 Feb 2015
if Timis is loosing rail , means Chineese andGoSL agree deal , that they so calm for now
liu
12 Feb 2015
Seemed like Bangura was front man cover Timis asset , but now story became clear , Chinese working with Bangura (GoSL),
liu
12 Feb 2015
then Bangura replied next day Following yesterday’s email from Alan Watling, I thought it necessary to clarify the delegations of authority that apply for the Operating Entities approved by the Operating Entities’ Board 1. All business related to the project companies should be decided by the project company board and not the AML board (Board decision 19 June 2014
liu
12 Feb 2015
look Watling sent email where highlighted It applies equally at AML level and Operating Company level (TIOSL and ARPSSL), because AML is the 75% shareholder in these companies. My approval is in addition to any normal management process and approval. Regards, Alan Watling CEO
sittight
12 Feb 2015
you think that gb was put into tio to protect the rail for ft but nw it looks like ft is losing that...my contact says that of 1 march he will not have it any more
sittight
12 Feb 2015
what exactly makes sense , liu??
liu
12 Feb 2015
: Gibril Bangura Sent: 29 January 2015 Operating Entities in accordance with the Companies’ by-laws and respect the decisions taken by the Companies’ board of directors. Following yesterday’s email from Alan Watling, I thought it necessary to clarify the delegations of authority that apply for the Operating Entities approved by the Operating Entities’ Board 1. All business related to the project companies should be decided by the project company board and not the AML board (Board decision 19 June 2014
liu
12 Feb 2015
It applies equally at AML level and Operating Company level (TIOSL and ARPSSL), because AML is the 75% shareholder in these companies. My approval is in addition to any normal management process and approval. Regards, Alan Watling CEO
liu
12 Feb 2015
it does make sense now
liu
12 Feb 2015
rom: Gibril Bangura Sent: 29 January 2015 13
4 To: GRP AM Global Cc: Kweku Lisk; å•æ°¸åˆš; Frank Timis; Gibril Bangura; Li Qiang; [email protected] Subject: New financial commitments Dear All, As many of you are aware, the shareholders of the Operating Entities (AML, Shandong Iron & Steel Group (SISG) and the Government of Sierra Leone) are in advanced discussions to secure additional funding for the Operating Entities, which, if successful, would enable the operations to resume in the near future. During this period and in order to ensure that we do not prejudice the outcome of those negotiations, we need to ensure that we manage the Operating Entities in accordance with the Companies’ by-laws and respect the decisions taken by the Companies’ board of directors. Following yesterday’s email from Alan Watling, I thought it necessary to clarify the delegations of authority that apply for the Operating Entities approved by the Operating Entities’ Board 1. All business related to the project companies should be decided by the project company board and not the AML board (Board decision 19 June 2014); 2. On 9 January 2015, the Boards also resolved to ‎proceed with the separation of the Operating Entities and AML to ensure that the Operating Entities could operate on a stand alone basis going forward. Following Alan Watling’s decision to resign from the Operating Entities’ Board on 10 December 2014, I have been appointed as acting CEO to help provide direction and support during this challenging period which I will do within the remit provided by the Boards. Therefore, any decisions, financial or otherwise, relating to the Operating Entities will be taken by myself and my team. I am hopeful that an agreement will be reached between our Shareholders in the near future and, subject to the relevant approvals being obtained, we will be able to secure the additional funding necessary to restart our operations and Phase 2 expansion. I hope the above clarifies the relevant delegations of authorities and I would like to take this opportunity to thank you all for your dedication, professionalism and support during this challenging period and I will keep you updated with regards to developments in due course. Should you have any questions, relating to the above, please feel free to contact Frank Timis (Chairman of the Board) or Kweku Lisk (Secretary to the Board). Kind regards Gibril Bangura Executive Chairman SL/Acting CEO
liu
12 Feb 2015
5 Hello Team, Please find attached staff update for the attention of the general workforce. Kindly share with your respective teams including those on garden leave. MEMO ATTENTION: All Staff FROM: Gibril Bangura, Executive Chairman and Acting Chief Executive Officer Since the Mining Operations were placed in care and maintenance in December last year, we have been in continued negotiations with our internal shareholders regarding the way forward. We will continue to inform you of any changes to these positions as and when they occur. In the meantime, we are closely monitoring some encouraging developments in the downward trends of infection rates in the Ebola crisis across the country. This has been confirmed in a recent nationwide statement by His Excellency the President of Sierra Leone. We therefore remain hopeful of an improved iron ore price on the world market. The company also wishes to thank you all for your continued support and patience while we seek sustainable solutions to our current circumstances. ==END==
liu
12 Feb 2015
From: Gillian Smith on behalf of Alan Watling Sent: 28 January 2015 10:50 To: GRP AM Global Subject: New financial commitments Dear All, In the current extremely difficult financial and operational circumstances of the AML Group, all decisions about new financial commitments (including changes to existing ones) of the Group have to be made carefully taking into account all relevant factors. To ensure that this can be done, all such decisions now require my approval as CEO of AML, and where appropriate I will ensure that these are also referred to the relevant boards of directors. This will ensure that all companies in the Group, and their directors and staff are seen to be acting in the best interests of the companies’ creditors and shareholders This applies to all financial commitments within the Group, including purchasing any materials and services, new contracts or changes to existing contracts, settlements of claims, new employees/contractors or changes to their terms. It applies equally at AML level and Operating Company level (TIOSL and ARPSSL), because AML is the 75% shareholder in these companies. My approval is in addition to any normal management process and approval. Regards, Alan Watling CEO
