"The arbitration hearing which had been requested by Mr Ellerton, the Company's former Chairman, has been dismissed, without prejudice, at his request".
Had he of carried on with this im sure me along with many others would have been looking to bring him to task over his lies and deceit, in fact I still feel he should not be able to walk away from this mess scott free and no criminal charges!!
you really think so! You are reading this with coloured glasses now. The people who are supposed to bail sefton out and pay us all the money that we are going to invest in pipelines and Kansas and get rich over the next few years doesn't themselves have enough money to pay the partial payment the bank has asked for. It is clear to me that the delay to the deal has nothing to do with paperwork or legal wranglings. We have just found a rich uncle to bail us out who seems to have no money. You couldn't make it up, could you!
Now we have we wil have another 10 days of SIFC saying December 1st we will see a complete change and I think I will top up, while we all now he would sell out like anyone else on the slightest move upwards, No word in the RNS about the whole deal being executed. in the world of finance this is a very small deal and for it to take this time is just very difficult to understand. as I see it the whole battle now is about keeping Bank of the West from closing us down, not about the future
it looks like Micheal Caine was talking out his a@se. Things are looking promising now and I fully expect a decent spike on news of a signed deal which will enable the company to move onwards and upwards and more importantly survival.
Update on Proposed Refinancing & Arbitration with Former Chairman
Further to the announcement of July 16, 2014 (the "Announcement"), and subsequent updates, the Board can now provide the following update with respect to the forbearance agreement with the Bank of the West (the "Bank").
In respect of the forbearance payment due to the Bank on 31 October 2014, to which the Bank provided a deferral of partial payment to 20 November 2014, the Bank has provided an additional deferral of payment until 1 December 2014, (the "Second Deferral"). Hawker Energy Inc. ("Hawker") has provided the Bank with a reasonable expectation of having additional equity to contribute to the Transaction at that time. Hawker has arranged third party debt financing to replace the Bank financing, however, the lender has linked draw down of the credit facility to Hawker contributing additional equity to the transaction.
The arbitration hearing which had been requested by Mr Ellerton, the Company's former Chairman, has been dismissed, without prejudice, at his request.
no I have not what I have done is sit and wait and once again nothing, what I have not done is continue to ramp on a no news basis, I don't see you going Hmmmmm 10k sell! No pump, no news, no money and most of all on the critical date you have all been trumpeting no RNS Just stop shouting how good this is and take your own advise - wait and see
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