Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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15lives - I don't disagree with your analysis.
The frustration here is that the BOD have (conveniently for them) gone quiet, hiding behind the takeover code. Hopefully share soc can get unlock the mute button.
a raise at almost any price is better than a sale. they may say they cant raise the money, but we don't really know what they've done/how hard they've tried and they now are conflicted as they're fully behind the AAL deal and so wont be looking for a plan b. they've left us high and dry weeks/months before the deadline they advised to conclude the SR.
LTV
I can see your thinking there but I have to say that even at 11.59 we don't have to vote yes.
A no vote at the last minute may indeed throw us into administration but that in my opinion shall then throw us into the political arena.
We who own this company have more power than I think most of us realise if only we hold our nerve.
Cue IBAB
goodness me is it really him that's still behind all these green boxes ???
I too need to get a life but at least I have a financial interest here !!!! mmmmmmmmmmm
FFC it’s a good question to ask. I tend to agree with you.
Cue IBAB.
LTV
It may well be me trying to be optimistic but I'm hopeful that lives may have a point when said that a no vote may not actually result in administration << Don't you thin that the fundamentals are too good for that to happen ???
I may be clutching att straws but I really can't see those holes being filled in !!
Regards
ffc
15LIves - yes you could look at it that way, but if we get to 11.59 before the vote, then there is only one way to vote and that's for a deal, otherwise its administration. If the vote happens sooner than later and is a no vote then there is time for a plan B.
At the minute the BOD are not working on a plan B, they have recommended the offer and put their vote (shares) behind it (irrevocably) and they are not talking to us and are still hiding behind the takeover rules and chaperone bull**** (I know I have tried to contact ir and have been fobbed off).
All that time we were waiting with baited breath ( I digress ) 74 RNSs today !!!!
LTV
I agree with most of what you say but the only thing I have trouble with is when you say Fraser is running the clock down to prevent us having an alternative. Surely the more time between now and the vote gives more time for other interested parties to come forward.
Having even a fraction of SXX as a result of dilution due to an equity raise or a real partnership with a an investor is obviously far preferable to having the shares bought of us, whether we like it or not, and being left with nothing but very large losses.
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Absolutely agree John.
I also agree this wasn't a choreographed swindle. Yes the BOD effed up the financing and that's why we are where we are. But there are options. The funding debacle means that best case, we're facing massive dilution to carry on (circa 75% could raise the $680M), but a 75% dilution is viable economically for existing shareholders and gives them a path to recover their paper loss and with a willing board is still a viable solution.
Problem is the BOD seem to have given up and are prepared to jump into bed with AAL and continue to feather their nest - not just Fraser, ALL senior execs have been promised their jobs on same terms - salary and bonus and incentive scheme - with AAL. Interesting that they'd be on a "bonus" for effing up the sholders. Says it all really.
The BOD screwed up the finance, but now they've turned it in to a stitch up.
Quite how they think they can keep their jobs and walk the street of yorks unscathed is another matter.
Would still like to know the identity of the financial consortium and what Polygon are up to (and if those two things are related). Meanwhile we still don't have a date to vote on the deal. Looks like Fraser is trying to run the clock down to guarantee we're left with no alternative. Just another example of how this is turning into a stitch up.
Quite right Fred.
The biggest issue for me is the ongoing strategic review and the offer first made in December and repeated/enhanced? on Jan 9th which was never reported or put to the shareholders.
How can the board recommend a deal with AAL and seemingly make decisions on or ignore the review without consulting the owners ( us the shareholders ) ? There is no way selling all our shares to AAL is the best or by SXX' board own admission the only solution.
Having even a fraction of SXX as a result of dilution due to an equity raise or a real partnership with a an investor is obviously far preferable to having the shares bought of us, whether we like it or not, and being left with nothing but very large losses. GLA Join Share Soc !
I do feel bad for coming on here changing my tune. I do know that you win some and you lose some with investments. And normally I would accept I got it wrong, put it behind me, learn and move on. But if so many Sirius investors most of them so much cleverer than me are questioning what’s being going on in the last year or two, and feeling like I feel right now then we can’t just sit back and do nothing.
We have to know whether we were just unlucky due to Brexit, Trump and our politics and timing or whether it was more than those things, and we would never ever have had a good investment with Sirius because it was always going to turn out like this. They’ve nearly got the numbers now at ShareSoc to put some real pressure on and get some answers. If it was all above board and we were just unlucky then at least we’ll always know that instead of wondering. So if anyone still hasn’t joined and feels they’re not comfortable - join and make it more difficult for CF & BOD to hide away as they are doing now and make them answer what we are not understanding.