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AFR Share Chat - RSS Feed

Afren Share Chat (AFR)



Share Price: 3.07Bid: 3.07Ask: 3.11Change: 0.00 (0.00%)No Movement on Afren
Spread: 0.04Spread as %: 1.30%Open: 3.24High: 3.24Low: 3.07Yesterday’s Close: 3.07


Share Discussion for Afren (AFR)


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austere
Posts: 6
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:3.15
View Thread (2)
Hive down and other options
Wed 08:38
As usual I am in a rush, I agree with Mr P's hive down suggestion. I would also add that we need to add a vote to go into administration at the EGM, that way the bond holders will realise they might get nothing unless they change their deal. I would suggest ASOG creditors/bond holders to take a 40% haircut in return for 60%of the equity. I have not modelled this so do not know if the maths work, instead I was looking at this from the view that it would value a share at 4x current price so 12p and therefore attract support for a no vote against the current proposal for anyone who bought sub 12p. Musings really, but I do thing we need the nuclear option of being able to vote administration at the EGM.
 
torquewrench
Posts: 1,336
Off Topic
Opinion:No Opinion
Price:3.18
Vote registration and stuff
Wed 07:55
Register your shares at asogafrenregistration at outlook.com - just put the total number of shares you have in the subject box.

As ASOG numbers increase so does our influence.

For information contact - asogafrenenq at outlook.com - we do respond to requests.

Social media - google asogafren on twitter - 69 followers and counting

Other media - see the pinned (the very top on the page) tweet on twitter and the attached article.

A S O G

For and in the best interests of members (all PI SH and others)

Together out voice will be heard

One aim - to achieve a fiar and viable outcome
ynotdeal
Posts: 1,152
Off Topic
Opinion:No Opinion
Price:3.18
pp_7
Wed 07:49
Morning... you are right of course, but as in any voting arrangement, we are concerned with the votes we win snd not the ones we lose. If we have 10%, there are still 90% against us. One vote here or there is just part of that mass.
If someone abstains instead of voting yes... that helps us because itvreduces the number of voters and increases our %.

So... lots of abstentions please people lol.
torquewrench
Posts: 1,336
Off Topic
Opinion:No Opinion
Price:3.18
View Thread (2)
RE: ASOG
Wed 07:48
Hi pp_7,

Yes you are correct in your first paragraph.

You are correct in your second paragraph also in that ASOG now represents a significant % of SH's, who by joining ASOG have expressed their desire to get a better deal.

Plan A as it stands will likely be voted down.

Plan B is not a self destruct button for SH as articulated by the ad hoc committee and their advisers. Most SH would rather take their chances with Plan B than be diluted to oblivion.

Plan B is a risk for BH. They will not put they company into administration as the leases of Afren's biggest assets will move to Nigerian Government control and they risk losing much capital. Also for the ad hoc committee their insertion of a BoD chosen by them is problematic for a number of reasons.

For PI SH, a controlled sale of assets in Plan B, may well see a good return, with a more streamlined business - it might not however.

The ad hoc chaps have the opportunity to give Plan C, which may be a modification of plan A.

ASOG are still pushing for a meeting with the ad hoc chaps to represent the views of PI SH and others. And we will try again today.

BW

A
pp_7
Posts: 54
Off Topic
Opinion:No Opinion
Price:3.18
View Thread (2)
ASOG
Wed 07:33
Hi ynot.
You just identified a great point we need 25% of votes CAST. So say final voting turnout is 50% of all shareholders then ASOG represents say 10% of total shareholding but 20% of votes actually cast which as you mention would give ASOG significant influence :)

On my earlier point still confused. Based on above ASOG influence is surely based on all member voting same way or else your influence is diluted.
So for those with little to lose , ie. Recent buyers (at say 4p) the best approach is to either vote same way as ASOG or abstain.
bensib
Posts: 755
Off Topic
Opinion:No Opinion
Price:3.18
Not one to believe
Wed 06:15
In the 1 share trade to signify an impending rns.
But. To place a 1 trade just befor the bell would achieve nothing if intended to create any buying.
Have replied to asog. If you haven't. Then you should.
We really would stand no chance without them.
Gla.
ynotdeal
Posts: 1,152
Off Topic
Opinion:No Opinion
Price:3.18
greygeorge
Wed 00:01
Yes it sounds like a contradiction doesnt it, but its not.
On a no vote the company can go into liquidation if the bondholders withdraw any further funding or call in a default option or the penal interest becomes unmanageable (there are other reasons but lets stick with those for now).
The BHs have the power to keep us out of admin even if we win the no vote.

There is about $1.5 billion of debt st stake. Shareholders own £36million of value. Big gap.
In the event of admin, some assets will cease to have value as explained before.
Its a black hold what the bondholders will lose.
They cant afford us to go into admin. They need a surviving Afren to get their money back.
Even if that is through a solution not of their making.
ynotdeal
Posts: 1,152
Off Topic
Opinion:No Opinion
Price:3.18
View Thread (3)
RE: tony
Tue 23:48
A new board is an option, but requires 50% to remove a director. That is possible.
The ASOG committee support Alan Linn, and because we communicate with the company on a daily basis we learn of behind the scenes activity, and we are encouraged. Im not at liberty to disclose any of that activity, and you must accept that for now im afraid. I cannot be drawn on it. There is much more happening than would appear to be the case
afleac
Posts: 27
Off Topic
Opinion:No Opinion
Price:3.18
tony
Tue 23:31
I meant advisors
greygeorge
Posts: 143
Off Topic
Opinion:No Opinion
Price:3.18
View Thread (5)
RE: EGM
Tue 23:31
'Putting the company into admin is bad for shareholders...' Yet you are campaigning for a 'no' vote, which will almost certainly deliver the company to the administrators. I fail to see the logic here.





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