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You are not one to count chickens......
Call it blind faith, but I am standing firmly behind SN and Looed. I think there have been significant events over the past 5-yrs that could have allowed SN to walk away from FRR resulting in the shareholders being left in the dumpster. Instead (although not ideal) we have been getting some reassuring messages, particularly recently, post FRC wind up. Yes, this passive approach may be a life long regret but ‘running off’ to Deloitte is hardly going to achieve any thing positive. The easiest (and probably the heart warm) action would be to get a message from the company on next milestones and/or timings of when we can expect our replacement shares in the new FRR setup.
I believe my post clearly says if you are going to do something then do it carefully and wisely.
Looed, rather than fear mongering, allow others, including myself to make up our own minds! Their is nothing wrong with contacting those now in charge of the company we invested in, and yes asking some difficult questions. I have personally already done so.
Respectfully, your call to do nothing, does not strike a cord with me. Thank you.
Tenners - I note you are pushing others to take action and report “directors working against our interests” without admitting that you yourself have already done the same? The fact you say “they should have” perhaps indicates you have not.
If you are going to make, or are expecting others to make on your behalf, very serious allegations of wrong-doing to Deloitte then you will need to have hard, factual evidence to support your claim. “The company didn’t talk to me” just won’t cut it. I would suggest you / anyone prepared to make such claims cross-check the obligations of a Private CEC before proceeding. The matter has been discussed here many times and such information is easy to find via Google. Be aware of the danger in making potentially libelous statements via a professional body.
As you rightly state, Deloitte are a well-regarded company. and yes, it is very common for shareholders to contact liquidators in certain situations. However specific to making allegations as opposed to general enquires, I would suggest you / anyone first seek guidance on how to proceed.
Just be careful not to expose yourself to unintended consequences because you allowed your anger and frustration to get the better of you.
As others have said, the last thing a liquidator, in this type of liquidation, is concerned about is a shareholder. They are focused on the interests of the creditors. And don’t pay them any money before seeking legal advice. Professional or not they are first and foremost a “for-a-fee” operation that in this instance reports to the courts.
Good morning,
For those that want a DIRECT source of information as to whats happened with their investment in FRC (Caymen) currently being wound up. I have confirmation that the appointed liquidators are:
Mr. Grant Hiley and Mr. Michael Green of Deloitte & Touche LLC, PO Box 1787, Camana Bay, 60 Nexus Way, Grand Caymen, KY1-1109. Caymen Islands.
They can be contacted via the following link: https://www.deloitte.com/cbc/en/contact/contact-us.html?icid=bn_contact-us
Deloitte are a reputable and well respected company, who are now officially in charge of FRC (Caymen), the version of the company that was listed and traded on AIM. The last known place where our hard earned money was invested.
They should now have access to all the company information. If you have genuine questions or concerns as to how your interests were managed or put at risk by the way the company run its affairs, the conduct of the directors (working against our interests), the reason why the company was suddenly and workout notice delisted or what's actually happened to the assets and our beneficial interests in them (without consultation or information with members etc.). Deloitte are duty bound to investigate and report any wrongdoing.
Hopefully, as some would have us believe, this is now an empty shell and everything is rosy in the garden. However, this is second or even third hand whispers. Nothing official. I think people should follow their own instinct.
In light of no official comms. There is a collapsing timeframe to identify yourself and raise any concerns. As respected posters have retorted; genuine shareholders don't sit on your hands do something about it!
ZZ tops, thank god you mentioned Bob & Carl in your write up, it could have been taken for a completely different “ deep throat “
GLA real holders
Oh….. I like that, a lot - well said.
Just caught up with last two days posts , interesting .
Only thing I can add is
To me Looed is what “ Deep Throat “ was to Woodward & Bernstein, a much needed source and ally.
When I was just a little girl
I asked my mother, what will I be?
Will I be pretty? Will I be rich?
Here's what she said to me.
Que sera, sera, whatever will be, will be,
The future's not ours to see, que sera, sera.
What will be , will be.
Y'know it would not cost much to have this saga made as a film. Unfortunately, most films are vetted by the CIA.
Seriously do we need to be squabbling amongst ourselves it is what it is until it isnt. whether you are happy with the company dealing only with one guy or not at least he has the decency to let us know
i mean i wouldnt let you rabble know if it was me getting the info thats for sure 😂🤪😋
im more concerned about the introduction of aliens into the conversation, we really dont need to be talking about those that live in barrow like that
This has some meaning!
I agree Madp, the geopolitical situation is very high in SN's plans for getting full value for the asset.
Abkaz - If you don't see the problem of the company opening up communication with shareholders, let me remind you of some of the past events.
In 2008 after FRR struck oil, Putin invaded Georgia.
SH/O twice tried to get control of the assets via liquidation.
The GD and BI have hampered the development of Block 12.
The GG have tried to take back Block 12 via arbitration.
Plus there's the geopolitics of the region to consider.
I know it's frustrating and I've even had to argue with Looed in the past about involving investigative journalism. Thankfully, Looed now can see the possible dangers of Frontera communicating too soon. The risk versus reward is just too far towards the former IMHO. Plus if we've been taken for a ride by SN and the board, what would be the benefit of finding out earlier, when the liquidator's, SH/O, Mourant and YA couldn't even get get a result. IMHO SN has too much to lose with his family reputation and links with the Atlantic Council. Plus I don't just think the lobbying resulted in members of the senate and congress representing FRR, but I also think some are possibly invested, as well as the rumours of CIA money. The political implications are too big for the company to have shafted shareholders IMHO, when the geopolitics are taken into account.
Bloody good job too Lifey, I think some people have got too much time on their hands...
Luckily I haven't so that's it from me.
I'll look in next in next month...
Oops that's tomorrow!
;-)
Abkaz, I am only on lse board due to ii chat board being taken away many moons ago, great posters like t.o.t and devex , they always mentioned Looed’s finds on ii, now years have passed, these sterling chaps formed fshg group for us real holders to be part of. They and Looed have done as much as I can honestly see and truly believe anyone could have done, without involving lawyers etc.
now Looed has “clearly” stated this many times, crack on yourself and see how far you get? trust me it will get you no further than we are now, and only make your wallet or purse less heavy due to lawyers fees.
This is a board for frontera discussions, everyone has a right of opinion, but please crack on and let us know how you folks get on ?
For myself yet again, I am happy to sit and wait , there has been more info found, updates given and movement on company status than anything years gone by gave us. All positive in my eyes but not a given, I am fully aware as I have been for years this could be my hard earned savings gone.
In our leader I trust, it may come back and bite me, but gut and faith says otherwise.
Great post Devex and good to read your write up again.
GLA real holders
Speak for yourself mate. I care. The problem is: if the majority of shareholders continue to publicly express satisfaction with the current state of affairs, which they do by regularly approving messages asserting that the company’s best approach is to avoid all communication with shareholders, it validates that position and disincentivises reestablishing lines of communication.
Ricardo is right. Even when a company is subject to regulatory scrutiny, it can be difficult to determine the operations of a company and the motivations of directors. Every shareholder has to approach an investment with a huge dose of skepticism because money is constantly at risk. In this circumstance we have multitudes of evidence demonstrating that the company hasn’t historically worked in the best interest of shareholders and now we are expected to divine the company’s intentions from messages conveyed by an anonymous third party? Gimme a break.
We don’t even have anything to substantiate the claim, which has become accepted on this board without any evidence, that the company can’t communicate due to some unspecified legal threat.
I’ve never heard of anything like that before. I can’t even really think of a good reason why that might be the case. Any entity connected, or in conflict, with the company will be aware of the existence of shareholders and this board is public so all the ‘sleuthed’ information can be easily accessed.
I don’t have any answers about how to change the situation but it is clear the answer isn’t: every shareholders should independently try to establish a private link the company. This perpetuates an information asymmetry and neuters the advantage we have as a large engaged shareholder base.
Personally I don’t see any problem with drafting a letter undersigned by the hundreds (?) of active shareholders demanding a basic level of formal communication and presenting it to the company via the supposedly verified channel. The suggestion that by applying pressure on the company to reestablish communication could harm our prospects is strange, even suspicious, and there are plenty of reasons why it could be done for nefarious reasons.
Bigun2, thankfully Looed’s sense of humour looks bang intact by reading Looed’s today’s posts 👍
Hi armoured_bear, I don't accept your attempt to gatekeep this discussion forum. If you don't wish to discuss a topic then simply move along.
And actually, I'm not ****ed off at all. I'm at peace with getting nothing back from FRR. BUT I'm quite enthused by recent events. Which is exactly the reason why I make the points I do. The more hopeful I get the more I'm trying to counterbalance that by re-appraising what we have. I don't care if you don't want to discuss that, but don't come along trying to be the big armchair internet warrior and tell me what to post. It's rude.
This whole is looed genuine or not ! Is Looeds contact legitimate or not narrative is all getting a little tiresome.
Several of the old guard heavily invested long term investors, none more so than Devex, are trustworthy - are they being questioned about their integrity?
For a long time it has been clear there are dark forces at work trying to devalue and discredit the company and as such in my opinion the situation is wholly understandable.
Devex - thank you for taking the time to clarify and again validate the correspondence validity. Must feel for several and none more so than Looed, that its a waste of their time and effort.
I would like to say thank you for the efforts put in to keeping the LTHs in the loop and hope you do not become disenchanted by the minority of negativity directed towards you and please keep sharing what you can.
I wrote this off to manage my frustration and reliance on my investment in frontera which managed stop my daily checking in here , as well as my heart. I do however trust SN to be doing his best for himself and all invested including us to deliver a return on our time and cash invested in frontera. Im just not totally reliant on that being the case or something that would happen imminently . I will however be delighted when it does and hopefully financially well rewarded
As an extremely grateful and overly invested long term holder i hope you keep going.
Thank you.
The Prodigy
> So we will have to agree to disagree on the meaning of verification.
I'm not sure we disagree as such. I'm not saying there hasn't been verification - by someone. I'm saying that I (and I assume the vast majority of others here) haven't seen it. We've only been told about people I (and again I assume the majority of people here) don't know with unknown skills/experience doing verification via an unknown process to an unknown quality.
The difference between verification happening and being able to evidence that process is an important difference. We should clearly understand what we have (especially since we don't have a whole lot!). Whether people here then decide to rely on trust and hope is up to them.
Having been burnt by other AIM shennigans I've learnt the hard way not to do rely on anything but solid, verifiable facts. So please forgive me for pressing this issue, but I feel strongly that we here should have a clear and accurate understanding of what has been presented to us, and what hasn't. And on that note, if anything I've said above is inaccurate then I'm all ears. I am very much up for discussing any of this further.
Authors note.... :-) For the avoidance of any doubt by anyone else, I may be replying to Looed but that does mean that I expect, demand, or assume anything of Looed, or the FSHG come to that. They are volunteers doing their best to help us for which I will always be grateful.
"But if they are the aliens then doesn't that make us alien to them. So that means they aren't the aliens at all - we are!"
😳😂😂😂😂😂
Looed, that's a totally different conversation, but you could be right...
:-)
If any does turn up then would think we are still at least 1yr away from it.