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I have just seen the rns, wot a load of rubbish, you guys have my sincere sympathy you all put vast amounts of your hard earned cash into this, propped this lot up and this is how you all have been treated makes me sick, I sold out all my isa account @5.6p and lost 98% and only yesterday sold my sipp @ 1.56p so lost most of it, but you guys are well and truly shafted I lost just over £40 k and I know some folks lost a lot more. How some people can say it's only money, some fireside Freudian psychology bullshite, next they will tell they've rubbed it better and it's all good, bunch of bankers the lot of them. Iam done
your bad luck is down to what you pick,maybe change stratergy.
Not really a suprise. I was amazed the bondholders even considered giving the shareholders 1.5%. Why let the shareholders have anything?? End of the day they control the bond and Xcite had no money left in the pot. They will likely sell off the parts to recoup what they can. I can't see them trusting this BOD to take this project forward. Shareholders could fight this but reality is it's a losing hand due to debt and lack of money. Such a shame for the average shareholder as many have lost a lot of money here.
Should be strung up
Fraid not... 'On the basis of advice received by the Company and the directors, the directors believe that liquidation is unlikely to result in the return of any value to the Company's existing shareholders.'
Few more educated posts on III. Looks like a huge stitch up but my knowledge of the law in this area is non existent. Offshore companies usually meaning someone has something to hide!
How will we know about what goes on next?
yes but money isn't everything shareholders may have lost money but the BOD have damaged their reputations so everyones come out badly from this
U do know the bod made millions selling their shares at £3-£4 right?
The worst troll in the playground. Thanks for popping in. Jog on and go f@ck yourself. Thanks and that.....
Seems as though you've been on the slippery slope...
I feel sorry for the BOD in this company They tried their best in what is a hard oil climate right now and sadly for them it didn't work out Good luck to them in their future endeavours
NO MORE SHARE DEALING FOR ME. 1ST GO WAS WITH AFR.WHENT BUST 2ND RHM THEY RAN OF WITH THE CASH AND NOW XCITE.ALL HAS BEEN SAID. GOOD LUCK ALL BUT OVER AND OUT
No way will Cole be OUT of pocket...NO WAY!
Zero, they will sell it to cover the bonds. 1% chance they may sell for more but I would be amazed. The BOD will be on a deal with someone, crooked cole has his back pocket covered I'm sure.
I cannot believe they can do this and get away with it. Absoloute ****s
or nothing? I don't understand what it means?
Now we know why Rupert said He wanted XER to 'Remain a Clean Vehicle' ...enjoy the ride Cole...it may not last long! As legends used to say ...BOOOOMM!
No doubt this will be sold for the exact amount owed and the BOD will somehow get involved in the new company. I'm too tired and depressed of this but hope someone takes it further with some legal investigation. The BOD are a bunch of absolute C@NTS!!!!
Truly sorry for shareholders on here! Interested in someone else's perspective? Log on to the VOG board and read posts at 13:02 and 13:06 and at 13:24. WARNING : Troll content
Good night to my £100k!! Anyone for early whisky?!
Shareholder Update and Bondholder Petition for Appointment of Liquidator This announcement is made further to the Company's announcement on 27 September 2016, in which it stated that it was concluding restructuring negotiations with the principal Bondholders and expected to exchange 100% of the value of the outstanding Bonds for 98.5% of the enlarged share capital of the Company. Following such further discussions, the principal Bondholders have informed the Company that they are not satisfied that the transaction is capable of being implemented in a manner acceptable to them. On this basis, they expect to instruct the Bond Trustee to petition the Court in the British Virgin Islands within the next 10 days requesting the appointment of a liquidator to the Company, which is expected to take effect approximately 4 to 6 weeks from the filing of such request. On the basis of advice received by the Company and the directors, the directors believe that liquidation is unlikely to result in the return of any value to the Company's existing shareholders. As a consequence, the Directors have requested the immediate suspension of the trading on AIM of the ordinary shares in the Company.
Appears to be game over here! Shambolic performance from the BOD, but I bet they don't lose too much a) money or b) sleep over it. GL All.
Probably won't affect the outcome but if someone in authority starts asking awkward questions................ http://www.parliament.uk/mps-lords-and-offices/mps/
I would expect the website to close its doors so you better get all info from it ASAP if required.! XER will continue to be a going concern