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PageOfCups
In one message you’ve gone from a patronising tone of read the RNS & dyor to
‘ I don't think there would be any reconciliation below the 2p price for LO. imho.’
So you’re answer to my original post querying our outstanding liability to LO is, you’re guessing/hoping it’s zero due to some moral high ground you hope/guess BPC can take on the basis of a tweet by LombardO ...
Anybody with a more educated response ?
Hi Riceman, The main point is LO publicly stated they regret funding BPC. Talking down ones own investment in a company would have breached their obligations to BPC, imo so no reconciliation on what was a damaging comment about BPC at a sensitive time. I don't think there would be any reconciliation below the 2p price for LO. imho.
" similar " would imply not the same.........
All the best (I'd've thought...... :()
PoC I have ‘dyor’ hence the question ..
RNS 16/02/21
‘the £3.75 million Put Option under the Funding Agreement, which was exercised by the Company on 12 January 2021, remains subject to a similar final reconciliation process on 16 April 2021, with the reconciliation amount (if any) able to be satisfied in cash or shares (or any combination thereof) at both parties' discretion, after which any obligations under the Put Option will be fully satisfied and the Funding Agreements will terminate.‘
So my question stands
POC - the first tranche was offset against costs !?
How do you come to the conclusion that the put reconciliation payment will be the same? I imagine most of these shares were sold at a huge loss this resulting in a large fee to be paid ?
Payment for the first £7.5m is nil.
Payment for the £3.75m put option if any, also likely to be nil
See RNS 16th Feb. Dyor
Any thoughts on the liability BPC are carrying after the LO funding debacle and potential finding gap for the planned activities this year ?
Aren’t we liable for the price difference between 2.3p and whatever LO sold at a loss around Spud ?
Could potentially be $$$+++