Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
And nobody will sell until shareholder value of sitting assets is achieved or choose to.
I think it is goling to plan, the finer details are condifential until final judgement, but this is expected outcome as we expect. G3e is the same thing. Courts have to go by “original filings” i think. But JPL / JOLS have cleared this up i think.
Sp should resume and company is solvent.
If they re-list it - it will open very high off the bat. Best they sort this put and hand back to management to serve the shareholders.
Fingers crossed, this will be ok.
Who will buy all the assets? Bid war?
At what price?
Figtreetharry - correct. G3E is the company - and GDC is what needs to be sold off. Now JPL have to refer to G3E. Nothing new in the update - apart from new Accounts may be required following this re-structure - which is OK. And in that case they should open for trading soon (so we can buy some more). At least shareholders can request removing of the temporary suspension as they sort out the sale of GDC assets as that what the debt relates to (i.e. what was purchased with loan).
We are in and we are in. Not many shares, and market cap is still low.
Let’s see if we get something more concrete in the morning. Prob won’t (it’s not like they’ve had time to type a decent rns out TUT)
Eaxctly, admin was never mentioned in RNS.
Lse Phobebus at 17.45pm - wrote “joint adminstrators” and started to confuse the board. A completely different thing.
Could be a innocent mistake by him/her thats all im saying.
Any ASSETS under G3E would include “companies under its registration, subsiduraries incl GDragon” it is still same company, Albeit a name change to G3E since 2018. Same thing in my opinion. I did question that a couple of days back. Bugged me in fact. The original bond holders Company name has passed through the courts over time. Without changing as it may lead to some confusion maybe in handling of case.
Trust me courts make errors.
JOLs is actually mentioned 6 times in the RNS/PDF file
Admin is not.
I can write an template email and change a few words?
Phobus 17:45pm read his email,
The word “liquidator” was changed to “administrators”
Are we saying originally rns should of said G3e winding up and not gdg ??, does anyone actually believe there may be a positive outcome ?
Would be strange to see administrators as game over. Not mentioned anywhere in rns.
Liquidation of assets was always the end goal and that’s what the RNS reads as. (JOLs)
So I’m still thinking it’s a home win.
Yeah exactly. Which is why they went to court in the first place right?
Here is where confusion started:
When the RNS came out someone on LSE wrote:
Now we get another RNS which states that, 'On 13 October 2020, by order of the Grand Court of the Cayman Islands, the Company was placed into official liquidation and ... were appointed as joint official administrators.'
CORRECTION:
The actual pdf/ rns states “ were appointed as joint official liquidators.' JOL’s. (Not ADMINISTRATORS)
SEPT Corporate update:
The Company has been informed that a winding up petition (the "Petition") has been presented by GIC Limited to the Grand Court of the Cayman Islands seeking the winding up of Green Dragon Gas Limited ("GDG"). GDG is a wholly owned subsidiary of Greka Gas China Limited ("GGC"), which in turn is a wholly owned subsidiary of the Company.
The Petition seeks the winding up of GDG on the ground that it is unable to pay its debts on a cash flow basis, and nominates the Company's Joint Provisional Liquidators to act as the Joint Official Liquidators of GDG. The Petition is listed to be heard on 13 and 14 October 2020.
Another sign guys , I just smashed my head , big gash and now In a & e waiting for stitches ffs . So hopefully it’s a sign it can only fin get better eh lol
It is acase of JPL have realised the court case should always have been: g3e.
Immyspecial i was thinking the same matey.
From another angle, if they were liquidating the parent company asset/s (which they would need to / it is the same company, name change from original Bond buyer to new name G3e ) and all its subsiduary, thats potentially even a bigger lion share for everybody. Original bond buyer was green dragon which is G3E.
Why am I thinking of Phillip F. Greene. Hahaha..
Let’s get this right though.
They did go to court to liquidate assets and appoint a “debt manager and continue operations” aka what the Rns actually says, but granted, is confusing. Can’t understand why they didn’t put this out last week!
I think so too. Makes zero sense based on everything they have agreed upon over the last year. Means every RNS was balls and made up, also means they went to court for the wrong reasons. Clearly you wouldn’t go to court (take someone who can’t pay debts there) and come out and say “oh well let’s throw in the towel as the court said no now even though they agreed in our favour last year” makes zero sense at all
Still unsure how this could have happened on 13th Oct without an RNS then?
The fact that the whole rns is just a link to that letter makes me think you may be correct.
Personally i think its a blunder made from the caymans islands. If you change the title to Green dragon from G3E then it all fits in and makes sense. Its clearly a human error thats been over looked before released.
Pretty confident we will see a correction rns in the morning.
Wouldnt panic just yet...