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Barhut
The price is depressed its at stupendous levels because sdx cannot take money out of egypt like other companies but what we have seen is that if you follow the news, egypt is close to signing deal with Imf, UAE are prepared to invest $30bn and now the EU are prepared to give egypt $8bn. The things are changing fast in egypt. The funny thing is sdx stated they hope to close WG by end of Jan and complete whole payment by end of q1. Now q1 end is just around the corner what if we get neww then.
SmellyBen states he owns a lot of shares, hes an FD lets say sdx goes in admin now they will recouperate alot more than 8m. SDX purchased moroccan asset and NW Gemsa for $25m back in the days from administrators.
Lets see what happens.
The answer Barhut is nothing we can be told about.So that means something is going on,and I think it will be good
Maestro, I do not understand you. You say a lot of nonsense on here. Smelly is facing facts. What is going on
Not even close - sad thing is it you can only see a grand at a time - and even then it its only intermittent still better out than in :)
Smellyben must be really distressed, madness.
Told ya in my post below. There's no buyers. But also no sellers. No market. Phone your broker and I am sure he will help.
Can't even sell 4k s worth - been trying all day what is going on ?
Smelly they agreed to two small offtake agreements, the 2nd one was mentioned in jan. Still negotiating longer term one.
WG is good earner they will not let that go until SD is agreed on too.
No I don't own multimillion dollar companies but I'm a FD in a multimillion dollar organisation so I know about buying and selling companies - we do two or three transactions each year
Yes I know they agreed a short term off take but they have been trying for a long term one for close to 6 months - Nada - we also have no idea on current financial of Egypt- its been a long time since there have been any numbers on receivables, parables, depletions, write offs , FX - we simply do not know anything because er THEY SAY NOTHING 😀
SmellyBen
They agreed another offtake for q1 24, they are currently negotiating a longer term offtake.
Company has $15m in receivables
Smellyben
You own multimillion dollar companies?
What you do with is plebs taking on anonymous boards, i woulf assume you advisers would be making your investments. :))
Er no but each one had uncertainties of trading when the deals were agreed in principl4 and then signed off legally and contractually - you build in a price adjustment depending on trading pre ( and sometimes post) completion - very standard stuff if you have an agreed transaction and parties that want a deal to happen like they said they have done with WG but we have heard nothing since and heard nothing re SD, we have heard nothing on KS21, we have heard nothing on the off take agreement, we have heard nothing on any future prospects re new customers or sectors, we have heard nothing on progress of strategy - no new commercial arrangements, no new corporate positions or reorganisations or rationalisation- I could go on - but for a Board that promised better comms i suspect they have hit a barrier somewhere and are losing cash day by day from our stymied operations and debt repayments
Were these sales in Egypt with currency restrictions ?
It will be a big loss but if these guys can't deliver a relatively small sale ( my own company has completed 2 similar sized purchases start to finish since they announced !) In timeliness they set themselves and were pretty relaxed then I don't trust them to delivervtheir strategy even if the sale happens
Ben, you'd have to be bonkers to be selling this sub 4p unless you are severely distressed and need the cash.
It must be a huge loss you're making!
Haha I agree you shouldn't trust anonymous BB posters but you will see over the next few days and weeks !!
We dont mind, talk to your broker they may have buyer for your shares. ;-)
Bit suspect you lettin ppl know you duping £300k worth. Lol
That's why I gave you guys a heads up as the price will come under pressure
Ned
Of course, they own alot of infrastructure for that.
Used to be a lot more ! but I need the cash for another prospect and I don't trust these guys anymore
South Disouq is more than West Gharib
You own £300k worth?
Got 16k out this am - will go for amother 8 before close and so on for around 2-3 weeks
With the cash injection of $10bn coming from IMF, $30bn coming from UAE and $8bn coming from EU, the egyptian economy will soon stabilise and you will be able take $ out of country.
SD is cash generative, once money is able to move out of country its gonna be good. Lets just say they cant pay bills cos of money stuck in egypt, they go into admin and sell off assets. I bet they get alot more that £8m for their assets. We already been offered $6.9m for West Gharib. South Disouq infrastructure has value, they wont just sell it for free.