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Member Info for V1d-

Member Since: Fri, 17th Jun 2011

Number of Share Chat Posts (all time): 841
Number of Share Chat Posts (last 30 days): 2

Last Posted: 22 Oct '14

Post Distribution over the last 30 days

22 Oct '14

Seems that I was a bit previous with claims of an RNS this morning, although most agreements have provision for acceptance of electronic signature by scan and email.

Note also that;-

"The proposed IFC investment is an equity investment of up to US$ 10 million, comprised of: (i) an initial upfront investment of around US$6.0 million (GBP 3.5 million) to acquire around 9.0% of the Company’s shares outstanding post-financing; and, (ii) the balance amount would be available for future equity investments including the potential exercise of share warrants."

So there's a bit in the pot even after the money to take up the 144p warrants.

IFC might get to be a pain in the arris if they became the single largest shareholder, because of their bureaucratic - and hence slow - admin processes. However, it does mean that Condor now has access to providers of debt and equity funding to get it all the way through to production if necessary.
21 Oct '14

The funding was agreed on 20th October, and the documentation is now just awaiting signatures:-

I assume that we can expect an RNS in the morning, and as the SP has made its way back (almost) to 90p, we should be getting £3.5m at the originally agreed 90p a share - 3.9m shares plus 1.95m warrants at a strike price of 144p.

All systems "go" and a fine big feather in Mark Child's cap.
22 Sep '14

Just for completeness, I have tried a dummy SELL, which returns 89.5p for 5,000. A dummy buy immediately after gives 89.15p to BUY. WTF is going on? The difference is not quite enough to be able to make anything by arbitrage!
22 Sep '14

I've just tried a dummy buy and the price quoted was 89.15p for 5,000. On that basis we can be reasonably certain that the trades this morning have mainly been buys. Guys wanting more than the present market size (5k??) have been paying higher prices.
15 Sep '14

scyther - I think that you/we/one needs to separate Jim Mellon the person from Regent Pacific. At the time of the investment by RP, MC was not dealing with Jim, but the clever-dicky CEO. Jim would not have been involved in negotiations - too incestuous - although he might well have been instrumental in getting them involved and left MC to do the negotiating.

I take your point about Central Bank manipulations, but at the level at which IFC is operating with Condor, it's just way, way too small for them to be bothered about 10p a share/£300k in total. These guys are primarily interested in trying to give Nicaragua a leg up and won't worry about their entry price. However, they do have to get the investment past Board inspection, so if the Broker placed part of the deal has to be repriced, theirs will have to have been also.

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