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Tabs, as much as we holders would love more info, we will get what we get, nothing you or any of us can do about it. Looed’s communication with them and his update on Jan 18th clearly states time needed, holders can moan, groan and be peed off as much as they like, it changes nothing.
Looed has in the best way told us, that without being able to divulge all info between Looed and our leader, the game is in play, it has been in play for myself for years, it’s now on the run in, you can sit and batter your brains as much as you like, we simply do not know the full goings on! looed’s communication has been viewed by frontera group, so multiple views also agreeing that emails look very legitimate.
I have said this so many times, I am dumb-founded why people who say they are holders start jumping on the I am peed off at all this yet nothing from first year or 2 was even talked or thought of.
Folks, again re-read Looed’s Jan 18th post , if you can’t take that as a positive , plus the news coming out via Jim and Looed over the past 12 months plus, then I must ask have you been in a coma since dilist.?? Why the upset now yet nothing earlier!?
Strange that to me personally.
Keep Calm and Carry On is for me and please don’t think my 4 million shares are not huge skin in the game for myself as much as someone with way more than myself, I have had to hide this from a family member for years, it’s been a very tough time for me personally taking this share on, but my faith in our leader bringing check mate home has not wavered for a long time now.
GLA real holders
All very confusing
I have no handle on how things work re inter country registration of companies and the WUP in one country affecting registration / viability in another .
Still not clear to me if FRR US is stand alone or under a still viable parent Co in USA
Whichever it seems we need our shares to be within FRR US
This is where I get even more confused ….if thats possible !
Tombolas mate contacted liquidator and was told
“and we will issue correspondence to all shareholders as promptly as circumstances permit. . . “
I think Caymans Co law re liquidations indicates that…..
Where a winding-up order is made all transfers of shares or alteration in the status of the company's shareholders and all dispositions of the company's property made between the date of presentation of the petition and the order for winding-up (and following the order for winding-up) are void unless the Court otherwise directs…..
So does Tombolas message indicate they hold the share register , or was it just a std copy and paste response without any detailed checking of register status bearing in mind Toms mates enquiry was so soon after the actual event .
If Register is still with liquidator how negative is that to us ?
If we were not transferred out prior to the presentation date of WUP on Nov 30th would a copy be kept in Houston ?
If so can our Co simply use that info simply to create another' SH register in FRR US ?
Also re any transfer that may have occurred pre Nov 30th …. under governing rules and in order not to include any dark forces ….could they be selective ?
PS
Ian 12 ……..Go away and don’t come back
Fair observation Tabs, but in SN’s defence, you could argue that the numerous and significant dark forces at work against the company, they had to take this ‘detached’ approach with us. Take (for example) the open hearing in the Texas Court Injunction case against ZM, our own shareholders’ bad behavior resulted in the hearing being taken off public line. Having said all that, there should be some direct official communication between the company and its owners; they cannot simply leave us hanging around indefinitely.
I hope I do no regret voting for the company to be registered in Cayman Island when SN was soliciting shareholder support for 75% yes vote back in 2016 (?). They even hired was external firm which was cold calling shareholders. Anyway, all water under bridge, but my point is that we have been very loyal to this company.
In summary, the shareholder were in a bad position when we delisted and become a private company, but now we are in a worse position with the company put in to liquidation.
My key question to the company (via Looed and JimSlade) is what key event are we now waiting on until we get some proper communication and why when (tentatively)?
Does anyone actually not speak to their family in 5 years just through someone that lives next door…hardly
I agree that taking any action against the company is a waste of time.
The only choice we have is for this to play out with our fingers (& toes crossed).
GLA
Looed: you're probably correct: from a practical perspective we have no option but to wait (with fingers and toes crossed). Happy to be corrected if someone does have a viable plan.
GLA
What a load of tosh, no one will do anything. Would have happened already.
For all those wishing to take action against the company why now and not 5 years ago,i agree with looed let things take there course and if nothing in say 6 months then instead of talking about taking action just do it me well i am with looed on this one call me dumb or what but i thin k looed may be right on the company saying we are family just my honest opinion cheers .
Thombola - I suggest you read the message again, it clearly mentions shareholders.
Nothing wrong with action plans but they really do need to be grounded in reality. After all these years I haven’t seen anyone put forward a viable plan. As always, many of the people supporting “calls to arms” are happy to say “do it!” without them having to get their hands dirty. Bothered, but just not ‘that’ bothered, I guess.
The only interest the liquidators / lawyers will have in you is to calculate how much they can squeeze out of you in fees.
“Reverse the liquidation” What does that mean? You are going to pay Mourant $1.3m (plus costs) as a starter? I am sure Mourant will be delighted and all you will have is a still empty shell with a line of secured and unsecured creditors to deal with.
I think it was Thombola who asked about comms with liquidators (sorry for late reply). I expect the comms the liquidator is referring to is their closing statement where they report on their process, disbursements (if any) and their fees.
“Write to the court en masse” sounds fun, but it is a pointless exercise. You cannot just write to court, even if the case was still in session, which it is not. You need to retain counsel, explain your case, persuade them to accept and have counsel Petition the court. What is the case?
No one underestimates how fraught nerves are – but these “ideas” are dead ends and a waste of time. Did anyone even google Cayman law as a starting point to collect information that might be relevant?
These words are a bit concerning from a company.
Because not all shareholders are part of the family, ie ZM!? I guess back to ODR's point that they can can now decide who is part of the family!
Hi Looed, what do you think the ‘end game’ is and why do you think - one week on - there has been no direct comms to the shareholders?
Why use ‘family’ instead of shareholders?
Bravo Contra, it’s why I put GLA real holders, the muppet show still runs today
Quite a mix of opinions here, from manic depressives to optimists. I am in the latter camp and thank Looed for keeping me there. It is however depressing to see posts like that from ian12 that demonstrate inexcusable ignorance.
There have been many ups and downs over the last five years yet there are still those who want to take shots, even legal ones, over what is still a fluid situation. What nonsense. More, maybe not much more, patience is required until a result. Let us keep hoping it will be positive.
How is it that Looed appeared from nowhere and only posts on Frr ??
Is he a Traitor or a Faithful!!
Fibber he is not communicating with us he is going through a third party. If the company was communicating with us id have an e-mail from the company
Of course he could ODR but I don't SN as that type of guy! He would trash his reputation if he did that. Jmo. Hopefully not too long till we find out either way!
Fibber: he can give shares to whoever he wants in whatever the new structure is: so he could give his mates shares and not us.
Lots fibber are worrying about our own popping of clogs, thank god it’s a date most don’t get know about. We all just hope the deal when it is done is “FAIR” and with holders being very much in the thoughts of those doing the deal, possibly a dividend so as not thrown into live market of do I hold or do I sell? Not even fully sure where these shares will pop back up in, pensions, isa’s or trading accounts.?? Lots going on right now , I’am fully behind WHamboy’s write up and thoughts, we sit and wait like we have done for so long, the game of chess is almost over, we await SN calling out “ Check Mate “ he’s won it for us all.!?
GLA real holders
Folk need to remember it's not just us (uk private SHs) involved here. There's institutional investment, SN's pals, other board members with the same shares as us. Getting this and Georgia over the line here has strategic regional importance which will mean far greater to SN than just money. The fact they are communicating with us means (imo) they aren't cutting us out a deal. And yes it has to be a deal...they haven't gone to this effort just to get the nodding donkeys back online! It does look like they are screwing those that screwed them but then I'm all good with that!! I just wish they'd hurry up...my main concern is that SN pops his clogs!!
Kenco/NJames and others
I don’t agree with your view, but I think the idea that we have loads of options if we suddenly act now is laughable. We have very limited options and those options have practically zero chance of getting our money back. The only thing we can realistically do is to sit back and wait, and hope that the company does indeed do the honourable thing and stands by its shareholders. They have spent a long time defending the assets and it implies to me that our shares should be worth considerably more than we paid.
A couple of days ago everyone was apparently reassured: today some are spooked. Time to sit back and let this play out: we’ve waited this long after all and it doesn’t seem that we will have to wait much longer.
Thanks guys for the replies. Best wishes
NJames
Unfortunately I agree
In my account it is 0.3489p that is dated 14/5/2021