George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
It would be nice to see him taken to court to give clarification on the reported NDA's that were disclosed were in place, who apeared at the Data room after EWT, full dance card cr*p we were given, who promoted the big boy plan and why was no funding in place for same before ditching the RBL and with that the FSP/SSP that was available subsequent to the EWT. Who were the reported multiple funding options it was implied were around, and why was nothing ever taken up at thart time other than this disastrous Bonds deal where Cole basically gave away the farm. Finally who were the d/d parties and what went wrong with this supposedly innovative funding /guarantor option, who were the parties to that. Why was the company not put up for sale at a much earlier date to avoid the option the Bondholders had in place to sue for liquidation. And just who are these farking Bondholders.
It's straw clutching. There have been warnings in every RNS and each quarterly financial release relating to the financial state of the company for ages. The only things people have to go are a) Rupert's misleading statements to shareholders at the AGM, in video presentations and at other public events. b) The revelation in recent days that they were seeking advice on insolvency for over a year. Whilst I would agree that is prudent, that never surfaced publicly until now and they were winking at the AGM this year that all was well. I would imagine they can point at the oil price decline as the reason for the inability to pay the bonds, and that'll be the end of that. The reprehensible behaviour from Rupert Cole and the BoD down to XER management like Matt Bower, was stringing investors along until they could do it no more and then simply turning off the phones and no longer replying to emails. Behaving in such an dishonourable way is not illegal but their behaviour and lies, sorry misleading statements pretty much mark them down as morally bankrupt. Take it as a lesson learned. Investors aren't going to see anything back from this. Don't invest on hope in future, don't over invest in one stock and have a stop price and stick to it!
Someone on iii is suggesting that one or both of these RNS Is the key to what has been going on. Any one out there with more knowledge of the company like to have a look? Tue, 15th Nov 2011 09:49 RNS Number : 1092S Xcite Energy Limited 15 November 2011 ? NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION TSX-V, LSE-AIM: XEL 15 November 2011 Xcite Energy Limited ("Xcite Energy" or the "Company") Additional Listing and Total Voting Rights Further to the announcement in relation to the draw down on the Standby Equity Distribution Agreement issued on 11 November 2011, the Company announces that it has received conditional approval of the share issue by the TSX Venture Exchange and it has therefore made an application for the admission to AIM ("Admission") of 2,168,257 ordinary shares of no par value in the capital of the Company (the "New Ordinary Shares"). The New Ordinary Shares shall rank pari passu with the Company's existing issued ordinary shares of no par value ("Ordinary Shares") and dealings are expected to commence on 18 November 2011. Following Admission, the Company's enlarged issued share capital will comprise 188,996,011 Ordinary Shares with one voting right per share. There are no shares held in treasury. The total number of voting rights in the Company is therefore 188,996,011. This figure of 188,996,011 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.