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Would that be the same echo energy that that’s seen it SP fall 93% in the 12 months to date ?
Yep, I agree with you.
It a very positive sign in that respect, and like you say its only adjourned for the shortest possible timeline.
Crucially the rns says
An adjourned Noteholder meeting, to consider the Proposal in unamended form, will now be held at 10:00 a.m. on 4 December 2023 (the "Adjourned Noteholder Meeting").
if the votes that were cast were negative, albeit without the required Quorum, we can be pretty sure the proposal would have been amended for the next vote.
seems it will get passed two weeks today (the shortest adjournment gap allowed under the rules)
Far easier to pass at the second meeting
Always happened with Echo energy too. Always used to amaze me but not anymore, if it helps, Echo were always successful in the second meeting.
RNS showing its been postponed to 4th Dec
A sea of blue on shares purchased today!! :)
(clearly clutching at straws for some positive news here)
If an RNS is coming, let’s hope it’s coming at 14:00-16:00 today (tick tock) or 7 am tomorrow or both (Bond. Tick. Calvalley. Tick) and not an after hours affair this evening.
Is it possible Calvary were somewhere about or a meeting straight afterwards ?
Consistent - for sure.
It would be so unusual if sound were to miss a deadline.
Its now 2 hours after the start time.
Maybe its been adjourned??
"If a quorum is not present within half an hour after the time appointed for the Meeting, the Meeting will be adjourned for: (i) not less than 13 clear days and not more than 42 clear days, and in each case at a place appointed by the Chairman and the Extraordinary Resolution will be considered at such adjourned"
I hope an agreement can be achieved here & then sound can start to rock , yes slower than expected, but all the ingredients are here to be taken forward now good luck to all in the meeting.
There will be an RNS soon after the meeting ends (starts at 10).
the contents will be one of change accepted, change rejected or meeting adjourned due to lack of Quorum.
Last bond holder vote was adjourned due to lack of quorum and then passed at the next meeting (soon after).
Oh well, maybe not this morning. Maybe Tomorrow.
The meeting will not be until 10 am
I am feeling very positive about tomorrow.
Perhaps we will find good news first thing in the morning regarding Calvalley and the bank and then Bondholder support later in the day. Now wouldn't that be a great start to the week?
Stevenma, sorry I admit I’m brainless at times , as I didn’t do much school ! But I have done ok for myself, good luck with your investments .
"I would imagine some chat have already happened between the note holders..."
"...following discussions with certain holders..."
Tincan your right, covering aspects from 21 December 2023 until maturity in December 2027.
The Meetings, are open and honest, no secrets.
Plan of action for success.
SOUND FUTURE : Buy Buy Buy.
Sound Energy, the Moroccan focused transition energy company, announces that, following discussions with certain holders of the Company's Luxembourg listed EUR 28.8m 5.0% senior secured notes due 2027 (the "Notes"), it has today published a Consent Solicitation Memorandum in respect of a restructuring of the Notes (the "Proposal") and that a meeting of the holders of the Notes (the "Noteholders") has been convened to consider the Proposal for 10:00 a.m. on 20 November 2023 (the "Noteholder Meeting").
I would imagine some chat have already happened between the note holders , hopefully a supportive conclusion will happen & sound will start its rise like a phoenix. Best of luck sound team with sealing the deals , making sound an amazing success.
Back To The Future
Still on Target.
British #energy firm Sound Energy Previously announced that its micro-liquefied natural #gas (LNG) project at the Tendrara production concession in #Morocco will generate its first revenues in early 2024, marking a major milestone for the company.
Sound as a Pound : BUY BUY BUY
Crumbs, i have to say I thought you were one of the sharper ones on here goza, think i'll have to reaccess. you obviously have trouble spotting a tongue in cheek post. i couldn't care less about grammar (it's an a not an e btw), or spelling. life is busy and 90% of the time i suspect people incl me are just careless and not plain stupid. i mentioned it a few days back as a joke, but that passed you by it seems.
much more relevant and important here, you might have all the faith in the world in the current mgt team, and that's great. i can't for the life of me understand why. no one has articulated that well on this bb. the only reason the sp is at a new record low today / next week again etc is sentiment and belief in and performance of the current mgt team. don't shoot the messenger. Speak to GL directly about it, oh hang on you can't as the drawbridge is well and truly raised at SOU HQ. I'm 95% from what I understand there's another funding raise going on in the background to keep the lights on in Q1 2024, they have less that 6 weeks of cash left and zero sign of progress or openness with existing SHs. With a mcap of below £14m now there's really no where for this lot to go. Pls don't bother commenting on sentence structure or spelling, i'd focus on what's likely a whole lot more important you to.
A flurry of negative posts over the weekend from the usual suspects.
they will then fall silent if the vote goes through our way (our way, not theirs 😊 ) but if there is the usual adjournment because of a lack of quorum (like last time) they will be right back on with the negative posts.
either way the bondholders will vote this through as 1: they are shareholders and 2: they have little choice as far as I can see.
The thing that always shows the true colours of the negative posters is not the content of their posts (such that it is) but rather the palpable glee they express at any perceived negative turn. It’s like ‘great there’s a delay, made my day ….’