Register
Login:
Share:
Email Facebook Twitter




RRL Share Chat - RSS Feed

Range Resources Ltd Share Chat (RRL)



Share Price: 0.535Bid: 0.56Ask: 0.64Change: 0.00 (0.00%)No Movement on Range Res.
Spread: 0.08Spread as %: 14.29%Open: 0.535High: 0.00Low: 0.00Yesterday’s Close: 0.535


Share Discussion for Range Res. (RRL)


Thread ViewThread View
Please Login or Register to post messages
Posts per page:


Premium Membership
bobo
Posts: 7,996
Off Topic
Opinion:No Opinion
Price:0.54
Ducky
9 Jan '15
Sadly still got a load. My one truly massive balls up, letting it ride now. Not ashamed to admit I got ramped.

Really is a pile of shlt
 
bobo
Posts: 7,996
Off Topic
Opinion:No Opinion
Price:0.54
View Thread (3)
Carve
9 Jan '15
You often make valid points, but also your logic is jumbled or twisted to suit your point.....as I have shown several times in the past.

In this instance im afraid Oma is correct, you are again jumbling stuff up to defend your original sensationalist post.
THESALTIRE
Posts: 1,755
Off Topic
Opinion:No Opinion
Price:0.54
RRL IF
8 Jan '15
Company Update

Director Appointments

Following the announcement on 11 December, the Board has resolved to appoint Mr. Yan Liu, the Company's current Chief Executive Officer and, Mr. Zhiwei Gu to the Board with immediate effect.

The Company's Board of Directors is now comprised of Mr. David Yu Chen, Mr. Yan Liu, Ms. Juan (Kiki) Wang, and Mr. Zhiwei Gu.

In line with the Company's commitment to reduce its G&A costs, all new appointees to the Board have agreed to a lower level of remuneration compared to previous Directors.If I was being done over. One would be getting a very large pay RISE not a pay cut to help keep cost down.
OMADAWN
Posts: 181
Off Topic
Opinion:No Opinion
Price:0.54
View Thread (6)
RE: Omadawn
8 Jan '15
you are now talking about liquidation, not administration.

To repeat for clarity for others

Carvey your words

“They have the right to call in the loan which means they can serve demand and then call in the receiver.

The receiver will then takeover the company and its bank accounts and allocate the assets to the creditors. I presume, in this scenario, Lind would have some sort of seniority over LO since they are professional loan sharks. RRL owe them around $7m and I expect there are a few mil kicking around in the account.

However, the Chinese are very shifty though as they sold the only tangible asset off to themselves first! First class feckers..... LMAO. What could the receivers get for a bunch of licences and PL's old laptop? Hard to flog in current oil price. It will take time.

Lind must be fuming with the sale of RRDS. I suspect this won't end well unless the Chinese pay them but the question is, why isn't the Chinese paying them? What a bloody big mess and mystery. What are the Chinese playing at?”

My response,

Companies can be both in receivership and either administration or liquidation at the same time. If that occurs, receivers generally run the company because they have control over the secured assets, which are normally all the assets of the company. Where receivers alone are involved, they have power over the assets in respect of which they have been appointed. The directors remain liable to perform their statutory liabilities, such as the filing of annual returns and will retain power over any assets which are not the subject of the receiver's appointment.

Question which assets have a security over them, Answer Texas

Question would RRL be pleased to offset the LIND loan against Texas as a result of a receiver being appointed, Answer yes.

You are posting an inaccurate description of the consequence of recievership in relation to LIND
Sifaka
Posts: 52
Off Topic
Opinion:No Opinion
Price:0.54
WG#2
8 Jan '15
an opinion or conclusion formed on the basis of incomplete information.
carvegyber
Posts: 5,213
Off Topic
Opinion:No Opinion
Price:0.54
View Thread (6)
RE: Omadawn
8 Jan '15
Oh, further research and reading for you. You have been quite helpful to provide the ASIC link but you don't bother to read or research it yourself:

http://download.asic.gov.au/media/1339292/Insolvency_guide_for_shareholders.pdf

From the insolvency guide, whether shareholders need to approve the winding up of a company:

"Liquidation
There are two types of liquidation for an insolvent company: creditors’ voluntary and court. The most common type is a creditors’ voluntary liquidation, which usually begins in one of two ways:
1. when creditors vote for liquidation following a voluntary administration or a terminated deed of company arrangement, or
2. when an insolvent company’s shareholders resolve to liquidate the company and appoint a liquidator. Within 11 days of being appointed by shareholders, the liquidator must call a meeting of creditors who may confirm the liquidator’s appointment or appoint another liquidator of the creditors’ choice."
Sifaka
Posts: 52
Off Topic
Opinion:No Opinion
Price:0.54
Word games?
8 Jan '15
the forming of a theory or conjecture without firm evidence.
carvegyber
Posts: 5,213
Off Topic
Opinion:No Opinion
Price:0.54
View Thread (6)
RE: Omadawn
8 Jan '15
I am very well aware many banks accept equity. Lind may well accept it but I highly doubt it because their modus operandi is to get shares on a discount and then offload it for an immediate profit. Banks only accept equity when it is a going concern and mostly when shareholders get wiped out.

Look up Hibu history. Interestingly, I posted there too and drew the same criticism from the BB as here. I am not saying this will go bust. I am only saying Lind has the powers to call in receivers which you have now agreed with me. I am puzzled by why if the Chinese want the assets so badly that they still haven't settled Lind?

Like I said, we will find out within a month. Lenders like Lind will not accept having to wait for the future or take shares it can't sell.

To call the loan in simply means demanding repayment within the terms of the loan. Right now, this is in default clause which means the whole lot can be called in. You have not been reading the RNS properly have you? Once again RNS said:

"the Company has made an undertaking to Lind that, to the best of its ability
and subject to AIM and ASX listing rules, the Company’s Shares will not be suspended from trading on either
the ASX or AIM market for more than 5 days, commencing from the execution date of the loan facility
agreement. With the recent suspension, the Company has fully utilized these allowed days and subsequently
provides Lind with certain additional rights under the agreement, including the ability to demand re-payment
of the loan."

And also from the AGM document you were referring to:

"Under the Funding Agreement, if Shareholders do not approve the prior issue of Collateral
Shares and Lind Options in accordance with this Resolution 22, an event of default will occur
under the Funding Agreement and Lind has the right to declare that all outstanding amounts
under the Funding Agreement are immediately payable and terminate the Funding
Agreement."

Make no mistake OMA, this is in default and the default clauses applies. Forget all the conversion hullaballoo of the funding agreement. It has been terminated by the default. Like I said, it is not for certain that Lind will exercise it.
Yuffspetpoodl
Posts: 128
Off Topic
Opinion:No Opinion
Price:0.54
View Thread (5)
RE: carvegyber
8 Jan '15
Bounty

Everyone is selling because of carvey's negative posts.........wait a minute they can't because it's suspended.
Is it true Celtic has been seen arguing with his shadow?
Yuffspetpoodl
Posts: 128
Off Topic
Opinion:No Opinion
Price:0.54
View Thread (5)
RE: carvegyber
8 Jan '15
Or loosely translated, oma's view isn't as negative as carvey's, therefore I'll choose to like that scenario more lol!





Sign up for Live Prices


Home  |  Contact Us  |  About Us  |  Careers  |  Advertise with Us  |  Sitemap  |  Terms & Conditions  |  Cookies  |  Privacy


Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.