regulars on here have already read this, and seen the Notice of Arbitration posted on this BB before, but for any one new...this document dated 2011 ( I think) .....is something to read as we wait for a decision . GL
I know that 30% seems high considering the £7m or so legal outlay so far, compared against the likely awards, but it looks the lesser evil compared to other funding options like Equity Funding Agreements or Loans.
Shame it couldn't extend to our other costs, which have put constant downward pressure on the shareprice. Companies like Darwin, Bergen and YA Global seem broadly detested by pi's, but the reality they have helped many low cap companies stay afloat during cash strapped times like these.
yes thats how it would go I imagine, the way I am thinking is if this team gets this across the winning line, they are welcome to 30% of the award…..doubt any shareholders will grumble. I'm not normally fond of lawyers lining their pockets but happy to make an exception here.
not a straight line, as there will be a cap and a sliding scale. i..e the larger the award, the lower the Calunius cut. The lower the higher rate, but with a cap so that the payment can't exceed the award.
for the me the downside will be zero. The Uzbeks will most likely in the scenario be granted costs, which could run to 10million no problem. If things go wrong, it's straight into the lifeboats for me, I'll take whatever is going regardless of how small the price. it's really abandon ship at that point.
There's nothing to say how much will be passed onto shareholders - think 10-30p max upside and bugger all on downside, so that's a bet of 5-1 to 15-1 on success, still much better odds than bookies or casino, as share price won't fall to zero on failure prob sub half a pence though easily !
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