Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Hk85
I fully understand the RNS
If there is a recapitalisation, all shares in the same class have to be offered the same terms. It just that fool PF who uses his words carefully, because he thinks he’s smart
The may be applies to the new rights issue. Normally when a company issue new share say 3 for every 5 shares they give priority to their existing SH. You’ll be able to trade those rights for a couple of weeks you can choose to either sell, do nothing or take up the right at the determined price. I’m not sure whether existing SH will have such privilege or the new issued shares will go directly to Fosun and TCG lenders
HK85:
I can see your point, but the BOD are cleaver. They said "may be". They always have a way out of committing to anything.
Saj the RNS couldn’t be any clearer
“Existing shareholders will be significantly diluted as part of the recapitalisation. However, shareholders may be given the opportunity to participate in the recapitalisation by way of investment alongside Fosun and converting financial creditors on terms to be agreed.”
HK85, exactly what I said a few days ago. Hopefully in the dilution we will be left with a seed. We may well have to wait 10 years + to get our loses back, but at least we don’t lose.
There was no misleading, the management is crap no doubt about that however they clearly said in May and June that they had received several Non binding bidding from companies in the industry but it doesn’t mean that those companies will go ahead with the deal, the 300m loan from their lenders was subject to selling the airline business but giving the ****ty environment and trading deterioration that every company is facing of course the bids will be extremely low. Therefore they had no other alternative than to turn to Fosun and their lenders for D4E and to be fair you should be grateful that they are looking to dilute you and not wipe you out. Besides all of you were happy a couple of weeks ago when the SP was trading at 13p and bragging about you wouldn’t mind waiting years till the SP reaches £1+ well here is ur chance
2013 was different, also different DIRECTOR, this time the company I believe has mislead SH...