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are no more it is clearly evident all who remain and who have not entirely given up hope must turn to ldlv and ALAG. In a relatively short time of space he has acheived much, he adopted a more direct and aggresive approach to this mugging of shareholders which appears to be bearing fruit. Maybe ASOG. shold disband rather than get involved with name calling and mudslinging and aid idlv all they can divulging all the information they had collected whilst dealing with Linn & Hawkins these past few months putting aside their obvious admiration for the pair, afterall this is war and we are ALL ! losers. Linn and Hakwins are no friends of shareholders rather collabarators who only now seem to have a guilt rush.
Andy, your post of 14th June "I'll still await Ynot, Pete email because they are true warriors and deserve respect of SH.". Oh and here's one from 19th June. " you guys at ASOG have done a fantastic job in both getting in touch with the BOD and airing the common view that is held by the vast majority of long/mid term shareholders, of that I am sure." I have others. Want them? Nah, actually I cant be bothered with a turncote!
Hi andydiff. How long will it be before you turn against your new found friends at ALAG. No problem with you supporting them. Theybare doing good. They may well get a result. But for how long will you be their fair weather friend? How long before you turn on them? This was posted here on 14th June, a mere 11 days before the AGM.... it was reported back to me... "Tony...you read the lse bb....andydiff said tonight you are a 'hero'. many people think the same.". Now relegated to devil it seems, or do we only believe your stance in months with a J in the name. I have more of your quotes that show you up for what you are... read the subject of this post.
You are the true force against the evil that is being attempted against all shareholders of Afren. Your team work tirelessly and if anyone thinks they have a better chance of securing any justice from this hideous situation, they are mistaken. Being an observer for a long time here, it's plain to see that news-hounds and other entities are now taking note as the stink of corruption in this company seems to be permeating through to the main news channels & newspapers. Things are coming to light because I believe, of your relentless pursuit of the truth and justice for all concerned. That's all I'm saying tonight but I needed to say it because as each day passes I see who is really making a difference here.
The administrators for Afren PLC, Alix Partners will be failing in their duties if they do not now investigate and possibly consider all of the subsidiary organisations and their assets at least, as a single group of companies or to be acting upon instruction of other organisations. It is Summer, the oil price has not yet reacted to Saudi Arabia’s announcement to curtail production which could provide a better future price for Afren revenues and asset pricing in a few months. However according to the newspapers today, there could be a rapid firesale of Afren’s assets by the administrators. Very strange! I would question. Is that another mystery in itself? Surely this would only further add to the alleged wrongdoings which have occurred, we will be watching for the beneficiaries, we have PLENTY of time!
The Administrators have a statutory duty to investigate and report on the reasons for the Company’s insolvency and the conduct of the Company’s directors. After the Simon Hawkins confession yesterday we can't allow ALIXPARTNERS to launch a fire sale! We need to protect the retail investors, this is a life changing tragedy for many hundreds of retail investors and their families and there is a PUBLIC CONFESSION that need to be investigated.
Seems that the Administrators are being told what to do,When is is some authority ie FCA,SFO going to stop this debacle,eveyone can see that there has been underhand dealings, as it is being published in newspapers,BB,s,forums etc,good luck to ALAG (ldv especially).
Wasn't they part of the ad hoc committee.... was this the plan all along.
That's what you should now be asking yourselves, in regard to the 'legal action' route. Justice ? Possibly. Accountability ? Revenge ? Yeah, whatever, lol. But you're not going to get your investment back, or any part of it. As long as you realise this unpalatable truth, then all power to you all on your righteous quest. Otherwise, just accept reality, and move on with your investing life.
is our only remaining hope of justice or redress left. ASOG tried but obviously condidered Linn and Hawkins were acting in our interests, Hawkins overlooked to tell them knowledge of the horrors he had bottled up inside but !!! now the noose is tightening he comes clean, how very convienient. Anyone dissulutioned with chasing their tails these past 6 months may want to follow the more aggresive and direct route to justice and sign up to ALAG. who I can personally state keep you updated on a daily basis and who have actually acheived public awareness of what has and is going down here. Although slender this is our only chance as ASOG. now appear clueless as what to do which I feel they might well agree with. Not mean't as a sleight on them but ldlv is focused and obviously wont be brushed or bought off. This is not to say that ASOG. were or could be.
There is a broader picture here where vulture funds are targeting London listed companies with a large retail investor base by picking up the debt on the secondary market for a fraction of the face value. Subsequently, certain advisors are brought in the name of restructuring which practically means a destruction in share price, huge and disproportionate write-downs, shareholder wipe out and a transfer of assets to debt-holders through administration or a scheme of arrangement. This will have long-term ramifications for the reputation of London market besides being a life changing tragedy for many hundreds of retail investors and their families. The destruction of this FTSE 250 company in a matter of a few months is the folly of breathtaking fraud at the expense of its shareholders. ALIXPARTNERS I am and many others still reeling with anger with the response to one of the shareholders and myself genuine inquiries and you are still indicating. "The Administrators do not anticipate that there will be any funds available for distribution to the shareholders in this case." The Administrators have a statutory duty to investigate and report on the reasons for the Company’s insolvency and the conduct of the Company’s directors. So PLEASE don't anticipate anything else until you FINISH your investigations and report. We sent the Administrators Simon Hawkins confession and forwarded it to to the FCA too and our US Colonel sent it to the SEC in USA.
afrenlegalaction yahoo com
* Pursuing legal action if evidence supports prima facie case that defendants (as yet unknown) are liable, via lawyers employed on a ‘no win, no fee’ basis or with 3rd party funding. As a group we do not believe that the BOD explored all funding opportunities available to them over the last months, and that they were fixated solely on the over-complex bondholder recapitalisation offer which essentially cut shareholders out of the company’s future. If you agree with all or any of our initiatives and / or think you can contribute to these, we would be very happy to hear from you at: **************************
We are a grouping of over 100 Afren shareholders who initially came to together to discuss and explore the shambolic chain of events that have led Afren to where it is today, and to attempt to discover the truth behind the sometimes incomprehensible actions of the board of directors (BOD) and management over the last 12 months. Our core active team includes investors from all over the world, former Afren contractors, and associates. Whilst we continue to seek the truth relating to what has happened, and were unanimously AGAINST the proposed recapitalisation, we are also focused on: * Pursuing any opportunity or contact that might help to influence a positive outcome from Administration, and a viable future for the company and for shareholders. * Ensuring that our side in this story gets out to the international press, and highlights the injustice in the treatment of shareholders throughout this year. * Maintaining dialogue with Regulatory authorities and elected representatives (in UK and US) with a view to exposing any wrong-doing amongst Afren's BOD (past and present) and bondholders.
Legal action is the way me thinks
streuth, we got an information this week from a person close to the company that some of the directors placed in Nigeria are trying to red circle First Hydrocarbon Nigeria (FHN) a wholly owned Afren company and its assets in West Africa and other places around the world. We must pay particular attention to any intended sale of that company as a whole and ensure that won't happen or we will ask for responsibilities. Word is they are trying to get it for next to nothing. We made the administrators aware of this information, FCA, SEC and some MPs are made aware too They are aware of Simon Hawkins confessions yesterday. nims and others, just send as an e-mail to us and we will send you information and add you on the list afrenlegalaction yahoo com
Afren's ex IR Simon Hawkins confesses on LinkedIn that Afren execs privately owned undisclosed stakes in FHN, one of the Company’s subsidiaries. Egbert Imomoh, ex Afren executive chairman, Is FHN’s Chairman. FHN has 45% working interest in OML 26. Afren borrowed $100M from Zenith Bank to lend to FHN.
It leaves you to learn from your mistake and gamble smaller next time. But nothing is conclusive until afr folds. The news could be another ploy to force the bond holders to hand over more money. The BH's have been as big victims as the SH's. I hope they are wise enough to take their loss and move on.
Where does this leave us shareholders
Sounds about right. That's what administration means. One thing I thought they might try was to sell the company to the directors.
So the prized assets are going to Go on a fire sale according to the times
"I am a pi and completely out of my depth". Well, just make sure you don't end up in an advanced payment scam of some kind. Losing an arm and leg in afr is bad enough, you should avoid having you remaining limb taken away.
Please could you advise how to join ALAG. I'm out of my depth with all this with Afren. Earlier post at 10.57 mentions sending letter to FCA individually or sent on behalf of shareholders, if letter to be sent individually could somebody help with say like a template one, like I mentioned I am a pi and completely out of my depth Sharon
"Keep up the good work." What would that be apart from spamming the forum to death ? At the end of the spam frenzy, they had sod all on afren. So they say it's all confidential and can't tell you sod all. People gambled at the casino and lost. That's all there is to it. Aren't you the guy who said warren buffett said best stocks are those on an operating table ? I was one who said my dad was on an operating table and he never got off it alive.
Ldlv, Ignore him, you have far more important things to do than massage a flawed ego. having seen what he sent you, he is the one who should be on all fours apologizing