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Mm's will love this its not DW selling could be any number of reasons unrelated to the company..
NO! gayGeorge what begs the question is why you are infatuated with Afren and its shareholders when you have no financial interest in the company. How's your recovery going ? not toopainful was it ? Regards to Andy.
Apologies I referred to the wrong group. http://www.globalcapital.com/article/sw7fjvkgnvq0/the-collapse-of-afren-part-7-of-7-inglorious-end "In the hours that followed Afren’s announcement, Afren Legal Action led a last minute attempt to organise a takeover of Afren. A member of the group called GlobalCapital that afternoon and said: “We’re trying to move things fast. Obviously after Afren went into administration, times are difficult for us. But we have a company that’s interested, that has been trying to approach Afren for a while."
Can anyone help me with my Afren Associated 'Wordsearch' I am compiling for a bit of fun while we wait for something to happen here. Maybe some more words could fit but these are the ones I have so far. Enterprise, Oil, Shell, Petroleum, Hydrocarbon, Licenses, Toby Hayward, Adhoc, Alan Linn, Serious Fraud Office, Adminsitration, Salvaging, First Hydrocarbon, Nigeria, Lehman, Value Destruction, Afren, Bond Holders, Scandal, Egbert Imomoh, Investigation, Drilling, Water, Restructuring Businesses, Acoustic Monitoring, Committee, Corruption, Working Relationships, Destruction, Shareholders,
Hi Cem. Im confused by your post. You say ASOG tried to facilitate a takeover. Did you mean ASOG or ALAG (afren legal action group)?
After reading the story its clear authorities in USA are quicker in responding to alleged wrongdoings in UK listed Company. I am seriously considering investing in US listed companies than investing in UK listed companies. In my opinion even Australian listed Companies are little better. Another interesting point is that it seems bond holders have now realized that SEPLAT offer was much better than restructuring proposal. They screwed us all shareholders in their miscalculation. I will not be surprised if Afren's management is sued by their creditors.
Are your a complete idiot ? Afren was a FTSE listed company, and this supposedly guarantees protection against fraud. We did not invest on ponzi scheme. Our decisions were based on regulatory news releases. Of course we all understand business risk, and we all took chance for those risks. It doesn't mean company can cheat investors, if it fails due to business risks then its fine, but cheating and SYSTEMATIC DESTRUCTION OF SHAREHOLDERS VALUE IS NOT ACCEPTABLE BY ANY MEANS.
The Bloomberg article is beyond astonishing. Mentioning a 17th of August deadline. The Sunday Times has accurately predicted very strange and disturbing developments re this company in the past and he seems to have an inside connection within Afren. Fire Sale by the end of the month announced. Alixpartners comments "do not anticipate that there will be any funds available for distributions to shareholders" Malcysblog comments and Blackstone Are they actually trying to save the company as a going concern, employees and Shareholders????
that 'something fishy' was going on. Way back in 2013 it was in the public domain. Which begs the question : Why did you invest after this date, or if invested prior to 2013, why did you hold onto your shares ? Was it greed, stupidity, or ignorance ? there is NO WAY any investor in afren can claim to be an innocent victim, you have all been 'in on it' since questions were asked and allegations made in the press 2 years ago.
The Change of Control legislation goes beyond change of company's name. Lifting the veil has a role here. *Lips Sealed*
In the article it mentions that ASOG tried to facilitate a takeover with a mystery company last month???
7 part story on Afrens collapse - if true it seems we were condemned from the start http://www.globalcapital.com/article/sw7fjvkgnvq0/the-collapse-of-afren-part-7-of-7-inglorious-end
It could be just a rumour Tony but we shall see I guess. In truth, I'd be surprised if they weren't after the recent goings on. What do you make of this 'one week to do due diligence'?
Hi Andy. How do we know the SFO is investigating. My experience is the do not release that information. If they are thats very interesting and will make many people uncomfortable.
Hi matt. I dont think that if assets are bought we will get any value. It all goes to pay off debt. We need someone to buy our shares so that a bidder retains Afren in nigeria and therefore no change of control. I dont think change in ownership of the shares constitutes chane of control of the leases. They are still controlled by Afren plc. Also, Guvnor may have only been given till 17th to make a bid and we all wonder how that can be done in such a short space of time. However what we dont know is how long they have already been talking to the company before now under non disclousrd agreements. So much we dont know
Here is the link for the bloomberg news about interst in afren assets by Guvnor. http://www.bloomberg.com/news/articles/2015-08-13/gunvor-shows-interest-in-afren-oil-asset-sale-to-grow-in-africa However if ony the assets are purchased there will be no value to shareholders. The cash all goes to pay off debt. But as Guvnor are not an indigenous Nigerian company, they may fall foul of the change of control legislation. To avoid that they may have to buy Afren Plc, (us and our shares), which means they have to pay us a price for our shares. Then they spend the rest of their money restructuring and paying down debt, by which time we will not own any of the company. All speculation of course. I do to want anyone to think there is a pot of gold anywhere. Odd are stacked heavily against shareholders. My personal views only.
if someone is thinks there is nothing fishy - they need a slap around their face or go join kinder-garden. its plain obvious. AFR board has not to be trusted with. AFR has given 1 week time to a company that wants to buy their assets. Are they for real?
The Serious Fraud Office are apparently investigating Afren and it's murky dealings or so I hear. They really need to take a good look at this scandal sooner rather than later. Is there anyone out there who still thinks that there is nothing fishy going on here?
there must be something that someone can do to save the PI's here. Not worth letting these people walk off for free.
The situation at Afren appears to get worse and I cant help but feel that there is something very suspicious going on here. I read with interest that leading oil trader Gunvor has expressed an interest in some of Afren’s African assets which must be good news for the investors who may lose everything. However I also note that they have been given only until August 17th to come up with a bid on the assets they are interested in. How can it be possible to value and do even the vaguest of due diligence in a week, and also if the administrators are doing their job, surely any possible interest must be explored to the maximum benefit of all who have lost money? And they are saying its not a fire sale which doesnt rub with the above, unless they have other buyers in the wings… The administrators appointed by the company are Alix Partners but maybe questions should be asked of the Ad Hoc Bondholders Committee and also why Blackstone are involved, who they report to and why? Oh well, i’m sure there is a totally innocent explanation… - See more at: http://www.malcysblog.com/2015/08/oil-price-afren-and-finally-2/#sthash.fiY2ho4N.dpuf
Or is there a chance of something? I never invested here but I am being offered many millions of AFR shares in an offmarket "friendly" transaction, in return not for cash but for some favours.
What about that deos fella that said he had 100k cash in this turkey - will he get at least a tenner back? Although u never heard from him again so probably all just lies!
there are many investors on this board who don't seem to realise that even after the main Assets are sold off there are still considerable debts that will still be outstanding. The Equity shares are worthless. Miracles can happen but not here Im afraid. Frame your Certificates and claim your loss. Management are to blame for the shambles that is Afren. No legal action will get any value back in your shares.
Looks like the thieving vultures were just waiting on sidelines to snap up afren's prime assets; they must already know true value.
This story looks set to quickly get a lot more interesting Idlv.