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@Bannor & @Cause. You've persuaded me - I will be surprised. Just not very surprised! LoL.
.....Obs 09:33.....if it was indeed that close to full agreement I don't think we'd have got an RNS this morning saying we'd suggested amendments, they'd just wait a couple of days and say it was fully agreed in principle subject to drafting & signing..... no I suspect it will be a couple of weeks at least before further bank news ..... shipment news COULD come sooner but I also think at very best that will now be 2-4 weeks away at the earliest as bookings and slots clearly still need to be finalised & as I said earlier I'd prefer our 20% first if possible anyway.
Would it surprise me if we were still having the same conversation 4-6-8 weeks from now .... no .... but hopefully not!!
Frankie/ no never been to a AGM but l have voted against the bods since 2017 l have emailed many time asking them to remove them selves from the board to having no response from them , l believe they are using the company as a grave train with no interest for the investors there actions have cost investor million in loses " frankie lets face it the man off the street who could add and take away would do a better job than these bods G/L
frankie /little bits of info does wonders for a s/p you hit the nail on the head , l still want them out and l would love a EGM because you do not treat investors the way these BODS have for years and get away with it , bad apples never turn good that's for sure
Indeed @Bannor. Clearly not finalised. I guess what I'm getting at is that some aspects of what we were updated with today could be several weeks old, in fact we know their counteroffer was made beginning of July (end of June even?), so agreement of key terms could have been mid July. We could have been negotiating the final closing points over the past few weeks, but not knowing exactly how long this could go on for (these things take time!) an update was issued today to placate the market as an ever growing chorus was asking for one!. This does not mean closure will *not* happen today or later this week. Do I think it will? On balance no. Will I be surprised if it does? No. :-)))
Solid update that. Ever closer.
The Bank Creditors have proposed settlement terms, and DEV and the Investors have agreed in principle (subject to contract) to key terms and have proposed some amendments. We will update the market once further progress has been made.
Pleased that we have progressed our discussions with the Bank Creditors and we move ever closer to what will be a historic milestone for our company.
@ob... You mean... you wait for a bus and then 3 red ones arrive @ once...lol
Final touches to a masterpiece hopefully.
....nothing to do with the courts and judgements from what I'm reading and our 20% is still held back due to the ongoing negotiations with the banks.... we made and offer they made a counter offer (after court pressure) we've accepted some/most of it and asked for some amendments which are now back with the banks to 'consider' no saying they'll accept or make further counter offers.... so not yet finalised in my opinion...
But isn’t the pause in procedure due to us now , wanting some small amendments on the judgements. The courts have said go
LoL @Frankie. If you ask me it's likely that @Kiran has held off updating us as long as he reasonably could in the belief that "set in stone" news is imminent. However, how often in life have you given up waiting only to find that the thing you were waiting for then happens! ;-) So it wouldn't surprise me to hear that the negotiations were concluded this morning and an RNS issued this afternoon. Do I think it will happen? No.
.....it would me ... agreed in principle and proposed some amendments means it hasn't really been finally agreed and is still subject to negotiation .... all that means is it's now back with the banks to consider agree the amendments proposed... but let's hope they're now closer at least.
As for the CDSA wanting more information it explains the delay but why say shipments would be made earlier, create and delay vessel slots etc ...why weren't all the requirements to ship and export known and already dealt with when bookings were made .....however I suppose in this instance we don't know how much if anything our BoD had to do with it.....but if/when we get our 20% they'll need to get involved and make sure the right people are in place who know what's required to get things done without delays.
Happy to see an RNS but the content effectively says we're still negotiating and we've got stuff to sort before exports can commence ....... however like TC part of me would ideally like to see our 20% & bank agreement before export.
Personally it wouldn't surprise me if we got a "set in stone" RNS this afternoon. LoL.
Great stuff I’m happy with that not rushing and making mistakes is fine by me