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#AST: Board changes and new strategy for Ascent as Hutchinson looks at new projects
EXCLUSIVE: Petro Matad announce fully funded 4 well Mongolia campaign


Member Info for mk1234


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Member Since: Thu, 29th Dec 2016

Number of Share Chat Posts (all time): 239
Number of Share Chat Posts (last 30 days): 39

Last Posted: Wed 12:46


Post Distribution over the last 30 days




Wed 12:46

Whats going on ere?
Tue 08:24

I think at this this rate .... The bod have probably sold the Heathrow slots already last week
Tue 07:24

Yes... I think afew brown envelopes have been passed around. Shame on you BOD.
Tue 07:09

Flybe Group plc ("Flybe" or the "Company")

Offer Update

On 11 January 2019, Connect Airways Limited ("Connect Airways") announced a recommended cash offer (the "Recommended Offer") for all of the issued and to be issued share capital of Flybe Group plc ("Flybe").

Together with the announcement of the Recommended Offer, Flybe entered into a secured bridge loan facility (the "Bridge Facility Agreement") with the shareholders of Connect Airways (the "Consortium") pursuant to which the Consortium agreed to make available to Flybe a committed credit facility of up to £20 million, subject to a number of conditions. Despite significant efforts it has not been possible to satisfy these conditions and so Flybe has been unable to draw any funds under the Bridge Facility Agreement.

Divestment of Flybe Limited (including Flybe Aviation Services Limited) and Flybe.com Limited and agreement on a Revised Bridge Facility

In light of the above, the Board of Flybe and Connect Airways are pleased to announce that they have reached agreement on:

· the purchase by Connect Airways of the Group's main trading company, Flybe Limited (including Flybe Aviation Services Limited) and the digital company Flybe.com Limited for £2.8 million (the "Divestment"), subject only to a limited number of conditions; and

· a revised Bridge Facility of up to £20 million to provide funding to Flybe Limited, of which £10 million will be released today to support the business. In addition, a number of improved agreements with banks have also been reached today to improve liquidity.

Furthermore, the Consortium has confirmed to Flybe that its plans for the future of the Flybe business including the combination with Stobart Air remain as set out in the Recommended Offer including its commitment to provide £80 million of further funding.

Flybe confirms that following its transfer to a Standard Listing which becomes effective on 17 January 2019, the Divestment will not require shareholder approval. The long stop date for the Divestment is 22 February 2019.

The Board of Flybe believes that obtaining this revised facility from the Consortium provides the security that the business needs to continue to trade successfully. This preserves the interests of its stakeholders, customers, employees, partners and pension members.

Status of recommended offer by the Consortium for Flybe

Shareholders should note that the Recommended Offer announced on 11 January 2019 will proceed irrespective of the Divestment. Further communications will be made as appropriate.

Enquiries

Flybe Group plc

+44(0)13 9236 4520

Christine Ourmières-Widener

Maitland/AMO
Tue 07:07

Balls....
11 Jan '19

Im sure i read some place 50m per day in the lower bits we are drilling. Cant remember where i read it.
11 Jan '19

Cos its not worth 1p.... At least 30p is the true value.
10 Jan '19

Lol.... That rns explains the insider information sell yesterday then.
9 Jan '19

Get back to normality now.... I'm ****ed off news leaked out, which shouldnt happen. But if your a lth, you know we needed the money sooner or later. Its out of the way now & Djeno just days about a week away. Gl all.
8 Jan '19

Wrong gmcc... My estimate they started drilling on Saturday & it will take approximately 10 days. So looking at best case 12th or worst case 15th January for TD. Not long now.
7 Jan '19

Never thought I'd see us on the top fallers board today.
7 Jan '19

In. Just small punt money but im sure they will pay the tax & the vegas show will tell us about the new contracts.
7 Jan '19

Lol... Do you know what logging is marine?
7 Jan '19

Is the big one. Always has been. Hold for about 10 days & the results will blow your socks off.
5 Jan '19

Worth punt money, but be careful.
Not paying your tax shows signs of a huge incompetence. May be our biggest customer pulling out puts an end to this bods luxurious milking of the company. Seems they have promised multiple contracts in the past & delivered sweet FA.
Good luck to the loyal pi's.
5 Jan '19

Smell a rat. On 13 Nov, Rob wrote:

"According to Simon Cole, they have implemented the cost reductions in October and consolidated the platforms as planned......etc"

So the positive bit of news in the latest rns has been known since October, yet BOD have held on to it. Why have they done that?
5 Jan '19

Ohhhh.... Looks like afew of our big holders have topped up & Eu have definitely converted some.
4 Jan '19

All over it.
4 Jan '19

At all that solid wall of buys.
4 Jan '19

To see abit of a rise but was expecting a fall as the 85mil odd shares were due to be admitted today. Shows how much i know about yhis sharedealing malarky.


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