Julie takes us on walks across the British countryside.she starts her planned walks but never ends up back where she started.so where is the car parked .anyhoo Julie takes us From somewhere To somewhere but never gets to To..so she can never leave from To and never get back to To.she always leaves from From but never gets back to From..same as feccin Steve...Sunday afternoon drivel while the break in the snooker..welcome to the hotel California......
They obviously had a good draw on the accounts that mole found and the delay has put it back to march April is that for another draw next quarter are we just funding them I don't no but it's all looking a bit dodgy I'm just a fencer
Can't see any good news coming our way until March , April time so hopefully our cash lasts and we can eek out an existence until the oil and gas flow or we get taken out due to a good reserves report..... GLA
talking of fake companies, wouldn't that include Varang? The elusive "company" that is supposedly spending $36M to get production going but are not producing any results! Normally, a "company" that has set aside this amount of money to allow money to be made would not be hanging around in getting the production going. After all, we don't know of any restrictions in allowing the production of the oil. In fact, it is in their interest to start the production as they can claw back costs at a higher rate whilst the exploration part of the PSC in in force. Once FRR are in production part of the license, the clawback dramatically falls back by around 50% so why are Varang hanging about with their part of the operations? And why can no-one find any information on them in this digital day and age?
FF Just a view but Nomad has to sign off on any RNS and ensure that the content is factual. this bring us to evidence in SN's own bullish words in every RNS in the last two years that FRR have O&G and that he has a CPR that he has shared with non shareholders (GG and Outrider fake companies) this alone is ground to contest a buy out at a SP in the current range as conversion would send the BoD well over the compulsory % required by AIM. On FRR one Web pages the BoD number one priority is to protect shareholder value????? Not much evidence of this so we could have a claim on the BoD for failure of duty.
One thing....you have said: "However, they know that they have to convince the Nomad that the price they convert at is fair and reasonable to all shareholders..."
However, the Nomad wrote to me the following on 18th January: "At the point of grant, a related party opinion would have been given (this is prior to our involvements) such that issue of the terms of the notes were fair and reasonable for all shareholders. There is no further related party opinion needed on conversions as the rights of conversion have been granted. This would have to be announced however as it is not only material but also would count as a director’s dealing since there is an issue of equity to directors. We would need to ensure that the board is not in a close period for the conversion."
My reading of this is that the Nomad DOES NOT have a view in the fairness and reasonableness of the conversion price.
The protection we may have from conversion at this level may be as you have asserted: "...they could face years of court actions from disgruntled SH (inc. Outrider) that would kill any sale of asset or partnership that may be planned)." ...but we have no evidence for this, do we?
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