Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I see both sides here. I think Mirav is correct though, the BOD backed into a corner through their own incompetence. I'm not sure what investors expected them to say - "we are in a serious trading hole and buyers for the airline are there but are wanting it for nothing". If they had said that it would have created even more panic with customers so would have hit investors either way.
At the same time it is clear that they have been economical with the truth. I would say that is 100% standard on all market announcements though. My company has a poor H2 most likely in the offing, they wont announce it to the market, just say that there are risks.
All the more reason not to invest without doing your own research to understand. As Mirav says, if you were in the industry you would be surprised TC is still going, they have their proposition all wrong. Just injecting cash was never going to solve it although it might have given investors a better option to get out for by buying time.
Miriva, I feel the point has been missed by a number of posters on this board. Investment decisions were made on the strength of the RNS.
The BOD clearly stated numerous bids under consideration. Did they say numerous bids that fall below our minimum, no. Had they done so many of us would have sold. Did they say the banks had put a min figure to accept the 300m, again no. The question is who would have lost more if the BOD had been truthful. The truth will out on this one, because there are many people like you who have lost large amounts of money, from Pensions, SIPS and ISA’s
One problem is, many shareholders have now sold out taking mega losses and wanting to save what few pence they can at this stage in the game, the posibility of the sp further declining to 4p 3p 2p and even 1p or a delist which has nor been ruled out is one step to much. For those now who have sold its, game over, no matter what happens now their out.
Anything can happen in z very short space of time here, i feel the P I now have zero trust in the BOD with imho lack of clarity and the rvealing of information to make an educated decision to buy, hold, or sell, the 3rd May RNS for one document says it all imh. ......
Aimho of course.
K
kingsteve. Happy to be corrected but what would be the benefit to any of us to see what offers were on the table at this stage when the BOD are still in last ditch negotiations trying to prevent TCG going into admin.
As somebody who still has an involvemnet in the travel industry I am surprised that TCG is still in business but was still silly enough to think it would be bailed out again which may well mean i suffer the biggest loss I have ever experiencd in share trading. My current loss means I have no option but to stay in since taking 5p a share would now be pointless.
I don't think the BOD have done a good job of running the company and adapting to the changes in the marketplace but I feel they are now in a corner and will likely do whatever it takes to save the company. They have admitted that shareholders will take a massive hit but with the current debt levels and negative press coverage I honestly can't see what more they can do at this time to prevent admin. I am sure if the airline offers had been as expected we would be in a different situation but that is not the case, I very much doubt it is some conspiracy or underhanded dealing, it's just timing and where we are now.
As a shareholder I want to see these offers.........and so should all other shareholders.....