Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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I was a tad suspicious when he flipped from being pretty adamant that there was a placing coming (back before he bought in) to über ramper....but figured he just like to talk his own book. This latest turn surprises me. I think he’s just a hugely emotional investor.....can’t end well
I don't believe a word the fella says Aiming tbh...
Aim,
I should have topsliced at 18p. Annoyed that I didn't and peed off that its dropped back down. I thought this was in the bag but PF cant seem to nail a bloody deal. How hard can it be. Get the contract signed first. Relly p##### off!
Invest: what’s happened to you this morning? Has your account been hacked? You’ve flipped from blatant ramping to and angry rant.
Nothing really has changed other than a dip in the share price. This is Africa...things take time.
No raise yet. I have a feeling its imminent. A pacing is about to drop before the contract finalisation. I bloody hate aim. Its ****e. Should stick to my guns and only invest in companies with good management. They have been p### poor!
I knew, just knew there would be a drop after thirty days were up. What I didn't know was the subsequent drops after, or I wouldn't have jumped in with a top up so quick (12.95 for my sins).
I'm not surprised there is no time limit mentioned, it doesn't have to be announced, this way there won't be the same reaction, PF must sit with his head in his hands covering his ears.
It can be taken (at least) two ways, length open ended, or fixed but just to be sure PF's not telling us, may come much quicker then he thinks, or us.
I'm thinking of calling the co' The Rainbow Group, there's have a pot of gold at the end.
I take your point ERV1, i gain more confidence however from the fact that there has been no raise on the back of this recent hysteria which suggests to me that Ghana or another contract or both are not that far away.
Is this a time to chill and to listen to some Michael Buble? lol
Confidentiality clause/s within the document may prevent the disclosure of precise timelines, imv. Given that we are not privy to and nor do we have any right to be privy to the document, then why would we have a right to the confidentiality clause/s?
To be told there is an extension is proof enough for me that timelines are being adhered to - otherwise the use of the word "extension" wouldn't have been necessary. Had the use of "extension" not been applicable (i.e. no time cap) it would have read like a poorly drafted LOI - in law, and in the management of "all risks". If say the LOI had a 30 day timeline, then for the purpose of legal binding, it would have required renewal upon expiry of the timeline. If say the current extension is for 15 days and the timeline is due to expire, then a further extension (new timeline) would have to be stated - precise date/number of days - to be enforceable in law. Reads to me like the BoD have this covered, and rightly so.
So just to get this straight, you think that because not time limit was mentioned that means that MPS granted us an indefinite period of exclusivity? *slaps forehead*
"A further capped time limit would then be applied to works carried out under the LOI and until the contract is signed".
Yes, but there was no mention of what this further capped time limit is in yesterdays RNS. Surely if there was one this would/should have been stated?
is as legally binding as a contract.
"The LoI is therefore being extended for a further period to allow for the definitive contract to be finalised with MPS."
This extraction from the RNS implies that the LOI was not open-ended, it was capped - i.e. a time limit for working under the LOI terms was included in the initial document. For a legally binding LOI to be enforceable then the notification of the extension via RNS suggests that "all risks" have been managed in the said document, and we have been updated all in accordance with. A further capped time limit would then be applied to works carried out under the LOI and until the contract is signed.
Payments for works executed under the LOI will become due and made retrospectively, under a correctly drafted LOI - in law.
Can't imagine for one moment that the LOI for a contract of this size and nature has not been drafted correctly to cover "all risks"... imv