We would love to hear your thoughts about our site and services, please take our survey 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.
Sorry fellow holders. Been fun chatting with some of you over the past few years. Sick to death of this company and the squabbling egos. I just think the bond holders and the lawyers are the only ones going to win here. I can't tell you the feeling of relief to have sold out of this turd. My worst ever investment Only silver lining is helping with capital gains in a year or twos time!
"Forever..."... I'm not technically back. Just bored lol.
Babbler2 - nice to hear your babble again - you said you'd gone forever.
Still Up today about 1% and interestingly their Q3 results next Friday, tomorrow week. Goodbye Allenby, hello ZAI ?
Ouch... sorry for all holders - this had such promise! A bit oversold - but need new broker first.
Yep, opens down 60%
Not worth selling at these levels for me.
Silly new RNS changing it's title. Notice today : India slightly up on thin volume plus Board meeting and Q3 Indian results set for Feb 12th. Not sure if I should hold until then (if I could get out above 3p today). Reading about all the problems documented yesterday, seems as if Allenby has had a big falling out with Bod and are going. New Nomad would sort this. Statements re. Bondholders terms of default - understood and already known Requisitioners not happy over timescales and now Warrants. Nothing they can do but wait for new Nomad. Query on legitimacy of AGM last Sept and warrant issue - not sure. Think I'll hold because I think it's a lot of Hot Air mixed in with a lot of real problems.
Smudge - looks like a terrible mess we are into. Presumably Nomad Allenby handing in notice is because totally unhappy with Bod. Apparently Allenby are still doing DD on both Requisitioners - beggars belief. So Allenby says if you have the EGM and appoint them, we'll resign immediately. But, they've just given us 3 weeks notice of resignation anyway, so that's an idle threat. We have until 23rd March to appoint a new Nomad so, if anyone will take the job, there should be no problem there. That would avoid cancelling Aim listing and Bond default. Not sure where the Requisitioners are going with their 'Invalid Sept 28 AGM' although they obviously don't like the issue of warrants to Bondholders and nor do I. They haven't issued a legal challenge here, just 'called into question' matters so far. Perhaps we're not doomed but certainly it looks like there is a lot of in-fighting and I suppose the likelihood is we will be shafted (if we haven't been already, especially with the recent 29.99% of the company issued in warrants). Allenby, I presume, are looking after a)themselves and their reputation, b)legalities. Looks likely they'll leave on Feb 23rd so hope ZAI or someone can be persuaded to take over. Maybe we can join ZAI's list of illustrious clients - lol.
Yes, looks a right shambles. Guess Allenby just had enough
Looks like it could be curtains on here - nobody happy, company, requisitioners, Bondholders or Nomad. Surely best to go to suspension immediately pending clearing up these matters - shares will IMO lose a minimum of 50% tomorrow a.m.
Just for interest, I notice DQE India dropped 40% from 11th Jan - 21st Jan reversing it's big spike. Now up today 5% and going north again. The official record of events : 30 Sep - Requisitioners want EGM, company validating request 27 Oct - Valid request and EGM to be convened but doing DD on requisitioners 11 Jan - DD docs back but process ongoing, EGM a.s.a.p. So, they've strung the whole thing out for 4 months now and upset the Bondholders to boot. Have a feeling we may get another announcement pretty soon although the Nomad I've just spoke to gave no further information. We must replenish the Blocked Account by tomorrow "The Company expects to be able to reimburse the Blocked Account by 29 January 2016, but a failure to do so would constitute an event of default."
I just hope the "concert party" know what they are doing, and are prepared to fight for their, and our, investment. This must rank up with the very best in the "shambolic" stakes!
Think the 'concert party' question has now been answered. They weren't one when they made the purchases of shares but are one now. Therefore, there is no compulsion for takeover - this has been signed off unfortunately and so no chance of a 9p takeover. However, this move to take 51% of the shares and now act in concert makes a Default of change of control to the Bondholders. So, we were thinking of issuing warrants to the Bondholders to rectify this 'change of control' event - but have not done so yet. This seems a very drastic and highly diluting act. However, as these warrants are priced @ 5.375p perhaps they will tend to boost our sp if they are exercised? Certainly 5.375p is 38.5% higher than our current 3.88p price. Surely having Allenby on the case should ensure no complete foul play? India price drifting back 3% today, just for interest. They should produce their 3rd quarter results mid-Feb as well as news of the EGM surely coming soon. Can't keep doing 'due diligence' on a few folks for months and months - doesn't wash any more.
ok
No need for the childish address! FYI I own nearly 2% of the equity, and I am flattered that you think I have enough power to move the share price. I come on here to discuss salient points, rather than make pointless one-line ramps. As I have said before it is your prerogative to disagree with my views, but at least add some value to the discussion yourself before criticising others.
Don't understand why you interested when you don't hold any shares , you come on her and give your opinions sorry am not interested if your not a holder, all you do is depress the share as much as you can
Is there a point you are trying to make with that old announcement?
· Funding for more than 20 owned-IP and co-production projects over the next two years · Up to US$50 million raised (minimum US$35 million) with a coupon of 13 per cent. per annum (payable in cash and bonds) · 5 years maturity with early redemption option after 3 years or, inter alia, in the absence of a liquidity event or shareholder approval for conversion · Liquidity event (trade sale or IPO of DQE Mauritius) to take place within 3 years · DQE to be cancelled from trading on AIM and merged with DQE Mauritius as soon as possible prior to or as part of a liquidity event (trade sale or IPO of DQE Mauritius) · Convertible upon a liquidity event, 30 days before maturity or in event of default · The principal amount is convertible into up to 56.5 per cent. of DQE Mauritius · Warrants over 24 per cent. of DQE Mauritius become exercisable in the absence of a liquidity
The Warrants would represent approximately 29.99 per cent. of the current issued share capital of the Company and be issued under the existing authority conferred upon the Board of Directors by the shareholders of DQE in accordance with Resolution 8 and Resolution 9 (ii) at the Annual General Meeting of the Company held on 28 September 2015.
It seem's that the current directors don't want to leave, the quicker they go the quicker things get moving, I believe the new directors will be aboard very very soon!! It was agreed in the Standstill Agreement that, subject to DQE satisfying the Warrant Issue Condition, the Bondholder would not take any enforcement action in relation to the Advised Change of Control Event for a period of three months from the date of the Standstill Agreement in order for DQE to have the opportunity to remedy the Advised Change of Control Event.
A lot more info but it don't look good. Default looks quite possible, a lot more dilution otherwise. An attempt to come clean as to All the problems.
Reckon you've got that right, there is a battle. Just looking at the timing again of the amendment on 30th July, although the official request for an EGM from 'Platinum Consulting Group, Anil Chintapalli and Corporate Computer Services' (Requisitioners') was not made until Sept, our Bod probably knew all about it. So, they've put in these new clauses to fight the Requisitioners. They cannot prevent them from getting on the Board IMO but they can stop them making sweeping changes. Worrying also though is the current possible defaults being discussed with Bondholders. These must be some things in 'small print' cause can't see where we've defaulted myself.
This is all about the battle between the existing management and bondholders and the new large share holders who own 51% of the company. This agreement sends a very clear message to the newbies. 'If you insist on putting yourself on the BOD, if you get rid of existing management then the bond holders will consider the company to be in default of the agreement.' The bond holders could demand their $35million back. The new share holders would have to find the money!!?? This smacks of brinkmanship. Even though the new share holders own 51%, the bond holders, working in conjunction with existing management, control the company. I imagine there are a bunch of lawyers running around in Hyderbad trying to reach some sort of compromise/deal
Poor that an extension to the Bond to 18months for the 2nd tranche was agreed in July and not notified. Don't like the 'discussions' over possible 'events of default' may have occurred - hopefully just the small print and can be got round. The new 'event default triggers' also agreed in July seem to strengthen the wishes of the Bondholders to maintain the current Bod and particularly Tapaas. This was agreed before these 2 new execs started trying to get on the Board so perhaps not linked, but appears to be clauses to secure the current Bod for the Bondholders.