Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Bluesuit88, you bet...Not fair at all.
ISENGARD7... Not fair at all.
If Afren was smart they could enter into a deed of arrangements with creditors and still trade. When poo recovers afren will naturally have cash to reduce debt significantly. The issue is afren does not have the money to pay Alan Linn and the rest of the board tgeir £200k a year salaries. I think afr board should have a salary freeze until company recovers. DoA guys that is the only option before liquidation.
and you might think if there was a way of doing it then the company would have already explored the option. Well we're talking about egg head Darra Comyn here. I doubt he explored all options. maybe just me trolling DC.
Because the seplat offer was below debt value. for it have value for shareholders it has to cover the debt and then some on top. otherwise no value at all.
Administrators goal is to recover value for all stakeholders. admittingly there is a a preference to creditors and bondholders, employees etc. shareholders last. But if there is a way to recover value for shareholders the adminstrators are supposed to explore this option. If there is no way to do it then they will just wind it up and focus on repaying the creditors and bondholders. They probably won't delist until they know for sure that there is value for shareholders. This could drag on for several months. some adminstrations take several years like with Lehman Brothers who have PwC as adminstrators.
Afren take seplat deal, I'm sure the board at that time knew admin was looming. I have a sneaky feeling Egbert, shahid ullah will buy stake in the new privatised company. I think the new company will be called Nerfa.
we do know that company hasn't been delisted yet. (only suspended thus far) as long as its still listed I think there is hope intact. If they announce it being delisted then its really game over.
Im not sure how things work from here but we have had no news since the admin notice. We have no new information to base any argument as to whether or not there is any possibility of a revovery, what options there are and what will happen next. Postings on here about how it can all be turned around are pure speculation. Im not saying that cant happen, I hope it does, but we have no information or evidence as to how it might happen. I do not believe that the company, in administration, can issue news, RNSs, and I do not think the Administrator is under any obligation to issue updates, I may be wrong. So my thoughts now are we are entering a period where information will be even more sparce than it ever has been. So until we hear something, its no change to admin day. If we get good news we can start reviewing the possible outcomes, but not now. Im not being negative. We have all been through a lot here and I think we should be cautious in our prognostications. Best thing is to put your shares on the back shelf and wait to see what happens over time. Administration usually means no value for shareholders. Lets assume that will be the case here until we hear otherwise. In the end we may get a pleasant surprise. Let Legal Action Team do their job now.
Littlebilly- agree with you, i took risk as well i will buy only which i can afford to lose, but now difficult to digest as was not expecting it would have suddently dead .contrary to this i thought it would be stagnant but will not die so quickly.any way luckly save some money when last days many times though for further purchase to make the average price down but could not proceed further .
Have to say seems like the tip of the iceberg there. Rob Terry was always dodgy as h9ll. I think we are going to see remaining IIs bail there, only question is will it be an orderly exit.
It's a free world and if we still want to post Info on here we don't need your permission so do one.
Little willy - another 2 bit poster emerging from the undergrowth to put in its own 5 eggs...needlessly and without knowledge.. above what anyone already knows.. I'm mean to say....'those who thought they could jump in late and take a quick profit HaHa!!!' what a 2ool!
I only give information that is accurate and has been supplied by a valid source. If you prefer to bury your head in the sand and believe you will get something back, then that is your choice. I can tell you now in my experience we will receive nothing for our shares, we can only hope those responsible get what they deserve, I have lost a lot of money here, but that is my risk when buying shares and I only buy what I can afford to lose. For all the genuine share holders on this site I feel sorry for how things have turned out, but for those who thought they could jump in late and take a quick profit HaHa!!!
Am I missing something here? When a company goes into administration, the administrators take control of the company. So how is that AL was the savior of ROC, and not the appointed administrator?
The Administrators do have a statutory duty to investigate the conduct of the directors and the transactions entered into by the Company in the pre-appointment period. If you have any specific concerns or information in this regard please advise and it will of course be considered, if appropriate.
Now the SFO are looking at Quindell Probly the same goings on as Afren
your logic re larger institutions is sensible, however, these people are not dealing with their own money and they will move on quickly. The Standard Life rep 'retired' at the end of December so the huge loss they made will be accounted for and blame allocated to him. The bondholders like the shareholders have been mislead. This is a story about too much debt and insufficient cash to service day to day requirements - the company would appear to have been in a bad way for at least the last 12 mths even if the BoD gave a message that it was a 'going concern' as recently as last October. AL cannot risk wrongful trading and called in the administrators when funding became impossible.
Always good to check DTM as things stay on there when they been deleted from iii and lse. I see he gave Paul Butterfields address at Goldman Sachs which was probably the reason.
Didn't know about this one. But would it be removed from here?
check here https://www.discussthemarket.com/company/afr/stream/1/
Disappeared? How? Why?
Hi Ynot. Hope you are ok. Believing in AL and his capability do you not think admin gives AL a chance to turn it around without everyone on his back BH, legal action etc. I know majority think this is the end. But if he managed to turn roc oil around thru admin, you could do the same here could he not?
The oil fields will be given back to the licence holders a deal that was probably already done months ago, nothing but a total con... Wan@ kers the lot of them
Given the larger institutions invested, its unlikely they will want the company given away for a complete loss. Element of hope that it could still be salvaged and turn itself around, its the oil price that's the sticking point isn't it...