RTN, still trying to slog me off I see? I don't mislead people. I post analysis of facts and then I clearly state my opinions and those are my opinions. No more no less. There are facts in my posts and there are opinions. You distinguish what they are and you are entitled to disagree with my opinions but to disagree with facts just show you up as having ostrich syndrome.
What the outcome will be is by no means certain yet but the process that is playing out is a fact. I have made that clear. The outcome will depend on the Chinese.
In my experience, I have dealt with lenders and I know how they think. Your OPINION of Lind pushing for a premium is just that, an opinion. I don't think they are pushing for a premium. In cases like this, Lind just want their cash back FAST. As long as they get back their capital, they would call it a day. The Chinese are not paying them fast and just promising jamorrow so they have to act. Putting in a demand is ratcheting up the heat on Chinese to settle.
That is also an opinion but what I have said about receivership, pre packs etc are facts. Oma is the one misleading people.
Now you are saying the request was always going to happen but when I was saying it before the event, you were calling me names weren't you?
I cant speak for RTN but I sleep just fine because I don't spend my days trying to scare small PIs into believing they will lose everything. What you really want is for people to stampede for the exit when we recommence trading, why carve, are you really that bitter about Range that you couldn't stand to see them make a success of this company.?
Omagawd, he is still spinning away when he is demonstrating a total lack of understanding of company laws and what receivership and admin means.
option 1 of negotiated settlement is of course right as it said so in the RNS (the one time he bothered to read it properly)
Option 2 of prepack: This is where Oma has wishful thinking passing off as research. I have in my 15 years of running companies, yet to see one come out of pre pack whereby shareholders have anything significant left. This is not scaremongering, this is a fact. Only directors get to keep their jobs and quite often, in small company prepacks, the directors are shareholders and prepack is a questionable way of getting rid of debt. Oma has bothered to google but he has not bothered to read things properly.
In companies with too much debt, the shares are worthless so the directors go for prepack to save the business and their jobs then offer themselves new shares. In this case, what makes you think the Chinese will want to offer you shares in the new company that they just spent $50m on? Look up HIBU as a recent example. The market is littered with prepacks and in none of them shareholders have any meaningful value left.
Still trying to mislead the gullible I see. To think the people he convinced to march into this before this was in suspension. I daren't the thought. How do people like him and CH sleep at night?
Loaning to winners like us is there bread and butter. They are not going to risk future business (I imagine it will be picking up significantly in next 6 months) by taking us to admin.
They probably asked for a ridiculous amount (more so than the $2m built in (cheers RSR)) and we counter it. They will want compensation for essential default and opportunity to short. Imagine they will "settle" for $8m.
Now let's hope that money was well spent.... I doubt it.
Isn't it possible that the reason the BOD are being so amenable about the meeting with RIG on the 23rd is because they want to ensure the support of PIs in voting through this finance deal. This time we cannot have complacency on voting. PIs need to get off their backsides and vote this through, it is our one serious chance for Range to fulfil its potential, not just in TT but ultimately in Puntland.
It was an RNS telling us what we already knew, Lind were always going to ask for their money back at some point.The BOD want to pay the debt off in cash rather than further dilution. Vote through the funding from Core and the money will be paid by April latest leaving us fully funded to develop Trinidad. hat is so hard to understand.
Why would Lind want to go the legal route of trying to get their money back, which could take years with no guarantee that they would get it all back rather than just accept a deal?
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