Goldplat CEO Werner Klingenberg discusses dividend policy, share buybacks and the Kilimenpesa sale. Watch the full video here.
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UK Regulatory (RNS & others)
RNS Number : 1979G
SIMEC Atlantis Energy Limited
23 July 2021
23 July 2021
SIMEC ATLANTIS ENERGY LIMITED
("SAE", the "Company" and, together with its subsidiaries, the "Group")
SAE, the global sustainable energy generation company and technology developer, refers to its earlier announcements on 18 May 2021 and 9 June 2021 regarding the appointment of receivers over all of the shares of its major shareholder, SIMEC UK Energy Holdings Limited ("SUEH"), which SAE understands owns approximately 41% of the issued share capital of SAE.
The GFG Alliance (of which SUEH is a member) has confirmed to SAE that the receiver's appointment has ceased, and the receivers have resigned as directors of SUEH. The GFG Alliance has also confirmed that they are in control of the SAE shares.
SAE understands that this matter is now resolved and looks forward to a more stable relationship with its major shareholder. SAE is an independent company, whose focus remains the delivery of its world leading projects, which can play a critical role in the journey to net.
I wish G3E receievers would F.....off too...
Thank you Mark, all the best, diversified portfolio approach saved me too, there are some positions I'm ashamed about even taking those despite all the red flags visible with minimum dyor, but on average that was a very good year.
sunsetsupper - just another example of how crucial to have company's governance & transparency criteria (+directors background and controlling holder' history) within priority check-list as part of evaluation prior making investment decision. This one had shady signs all over the place screaming "high risk" since very beginning, there are so many examples of this from various other companies leading to a sad outcomes, top auditors are fined millions for covering it up or turning blind eye - but people never learn..
Yuri. I’ve had a bit of good fortune with ARB and KR1 I sliced ARB several times and reloaded on the drops KR1 is one I recently bought into and has already shown a 50% gain just the past week. But to be honest I’ve taken a real kicking myself over the last year despite the few successes I’ve had my losses and they have hit me hard.
I knew I should of sold and the last day of trading my finger was over the sell quote
But no I thought as many others we would do ok
What a idiot
Seen the update today.
Let’s see what happens in next rns...
If you don't mind me asking of course..
Mark, how're you holding up these days? Any sufficient recoveries on other positions to recoup and come clean with some positive margin?
Sadly over the last year and half saw so many valuable and smart contributors on this forum decimated by poor and deceitful governance .. painful to see how unexpectedly too much lies comes through from people you entrusted savings..
Without Vinson/Wolfgang pulling us out at his expense on a parallel thread - my finances would've been in a very pickle situation, what a near-hit there... not a first lucky escape (it can't last forever, right?) but I've got a feeling I'm doing something wrong and something urgently needs to be changed until it's too late.
I guess the clarity on likelihood of favorable outcome is outlined here (last word of it):
On 2 July 2021, again in accordance with the CWRs, the JOLs changed their determination of solvency and now hereby determine that the Company should be treated as insolvent. <<
Previously it was:
11 November 2020 in accordance with ... should be treated as of doubtful solvency <<
From solvency to insolvency.
but they did try to sweeten it a bit:
.. JOLs may change their determination again ..
although historic statistics on such changes is not promising..
Sorry to hear it guys,
Mark you're quite correct, but that brilliant recent article you shared really showed that the low life director would have squirreled away fundsI wouldn't be surprised if he doesn't buy back the assets in china with the backing of local ' partners ' at significantly reduced rates
It was being liquidated before and it’s still being liquidated now it will all be sold off it won’t come back but the division of the funds raised will remain the same. Secured creditors then unsecured then shareholders last if anything is left.
Very sad to hear about peeps losing out.. I hope he rots in hell.
Yep! Night night Vienna. Still we can always get a group tour of our lovely Mr Gruwals vineyard in California. Maybe he will even open a bottle of Pinot. GLA
Take it that’s our money gone now
He seriously looks like a smug Tuesday I would love to meet him in person.
Yep it’s ****ed !!
Well this doesn’t make pleasant or encouraging reading but most recent article to mention G3e, Greka and Randeep.
Dear god! ( facepalm emoji )
It’s been a very long time now
Thanks Mark ..
Lets hope an update in layman terms from JOLS very soon.
Before pandemic is over...
Yes figgy found it online. I was trying to find out more on the producing and non producing assets and trying to get a sense of how the business is ( or not ) still in operation and stumbled across it.
Hate to say it guys, something doesnt add up here. It looks to me like Nordic Trustees were ready to sell assets and pay back everyone...and then GIC tried to exercise their letter of guarantee - which is what the whole dispute is about. Why would GIC try to exercise their letter of Guarantee?...unless they thought that they were not going to get all that is owed to them...
...which perhaps means that Nordic Trustees were going to sell the assets cheap...so that maybe GIC wasnt going to get everything...and if GIC wasnt going to get everuthing owed to them, neither are we. which is why when GIC filed its petition, Randeep said he was in support of it.
I think that Nordic are trying to sell the assets cheap...or maybe they are trying to sell them at a cheaper valuation than what randeep thinks is fair.
Regardless the courts have thrown out the petition by GIC and Nordic are presumably now going to go ahead with the sale...unless GIC disputes this in London courts (which seems unlikely as they have already admitted that their letter of guarantee doesnt hold water).
So, one way or another we are close to a resolution...whether we get anything is still in question.
FULL DISCLAIMER: I am a long standing and pained shareholder...I hope we get what is fair for all this hassle.
Updates from JOLS would have been appreciated all this time. Muppets...
An email to the authors of this article maybe next course:
Good find Mark, did you find this online or through Columbo?
Quickly went through it.
Pity it can’t be copied and pasted.
I see the Key Points commence from 287-298
I will get back to you, may mean pinging a copy to walkers LLP in caymans to decipher the end notes.
They were follwong the case.
I’ll try and google this week...