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If SXX goes into administration - AA could pick it up for much less directly from Administrators!
Personally, I think the 'no new offer for 12 months' is BS. If you read the Odey letter, that is their whole point. they want AAL to up their offer! Maybe the upped offer needed to be made pre-vote??
Vote NO.
KOH
Questions about administration
An investors asks how soon the company would go into administration?
Russell Scrimshaw says it would be ‘certainly by the end of the month’
He adds there there is no pre-pack administration deal agreed but there have been discussions on the subject.
Chris Fraser adds that various administrators have been spoken to.
saying they have already spoken to Boris and what we have on the table is the best offer.
CF says he agrees the govt should have supported the project.
.... clearly painting a picture that if this is no then the administrators are called in imminently.... guess draw your own conclusions if this is BS or not. I was surprised about the 12 months. I thought this wasn't the case because the offer wasn't final.
Can't come back if another offer made Tex...........?
correct........... ?
All the best (go Fred :()
Scrimshaw says admin by the end of the month.
no prepack deal agreed but there have been discussions.
CF spoken to various administrators.
Took a tour*.............. not a load............. ;()
Sorry........!
All the best (my bad :/)
sure Chesh, but she is posting all questions and responses. E.g. the specific questions Fred has asked earlier.
Interesting CF just claimed that AAL can't come back for 12 months with an increased offer.
Tex........?
wasn't Francesca the Journo that took a load from Chris..........?
All the best (and wrote about BB sweatpants afterwards :()
quickfeet each to their own - filtered, probably the last time on the SXX board. Sad git.
You got to have a dream, to have a dream come true.
'No chance of increased offer'
Russell Scrimshaw says there is no chance of an increased offer
He says:
Investors have tried to get Anglo American to move but they have the leverage.
This is the only offer that’s on the table, that’s why we are here today.
Kevin Palmer was incredible
****really hit the fan and they did not know how to stop him
completely agree John (10p wtf )
Francesca Washtell’s twitter feed best thing to watch the unfolding events.
agreed... much better than the live feed.
"We want SXX to remain an independent company with a chance to finish the project and reward shareholders in days to come.
Yeah, and world peace, we want that as well.
We'll let the courts decide that one Laker........!
imminent.......!
All the best (as much as his spin is :)
Calls for 10p a share offer
Another shareholder, who says he’s an expert in agriculture and agribusiness has said Anglo American should pay as much as 10p a share, rather than the 5.5p offered, as that breaks down to the £1bn already spent on the project.
'Chief complainer' addresses meeting
The Guardian’s Rob Davies reports how Gavin Palmer of UK Shareholders Association describes himself as the “chief complainer”.
Chris Fraser tells him to “stick to the facts” before Palmer embarks on a lengthy speech.
Russell Scrimshaw says Palmer’s claims are “outlandish” and “without fact” and questions what his agenda is.
"The man says members of the board need to be ‘removed’ and there’s clapping from the audience"
___
Starting from myself and my best friend Scrimmy he should add....
KOH
Who wants a higher offer ? We want SXX to remain an independent company with a chance to finish the project and reward shareholders in days to come. We also want to consider the future if this inept board. We do not want to give away the company for 25% or less of the value of our shareholdings ! We do not want the board to sail off into the sunset with their jobs and our money taking the company private so shareholders are wiped out.
Alternative investor 'walked away'
Chief executive Chris Fraser said the board had been clear there was an alternative proposal , which they pushed ‘as hard as they could’ but it couldn’t be implemented and the investor walked away.
The man says members of the board need to be ‘removed’ and there’s clapping from the audience
No- because they are very capable people. We failed at the last step doing everything we can with some of the best advisors in the world.
___
Co#ckiness of that clown is unbelievable. His "world's best advisors" did great in September too. Unbelievable.
KOH
"The vast majority of people reading or contributing are decent, normal hardworking people with an interest in investment and company research.
I do however have some very legitimate concerns about the lack of regulation on these blogs and how a minority appear to use them to try and influence and manipulate other people one way or the other for their own potential financial gain with false or misleading information.
People are frustrated because we’ve achieved so much and came so very close to delivering the complete stage two financing in 2019 that would have put us in a completely different position."
Where's quickfeet ..............! ffs
All the best (excuse me :) £7m