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unbelievable
collection of failures this year alone. Any assets on the books are suddenly worthless when it goes to admin - found that out with BHR and AMI.
Never expected this to happen but by the looks of it Afren plc (i.e. SH interest) will lose everything. Any good assets will be hived off already into subsidiaries where we have no claims. So a privately owned Afren MkII will probably carry on operating Some serious wrongdoings have gone on here and we are the victims. Also looks like some BH have also been scalped. So seems best chance of salvaging any value now for SH is going down the legal route.
Singy, this is exactly what happened to Hibu formerly know as YELL you know yellow pages. The company is still trading however they de-listed and wiped out all pi's in the process. Like here a action group was set up but with all the emotions and words of we will get them saying it was corrupt illegal etc nothing ever came of it. The FCA all other so called governing authorities just let them get away with it simply because they do not want to get there hands dirty. Trust me there will be millions of posts on here stating we are going to do this and that but rest assured in a few days or week s there it will fade and only the lonely will post. Basically we have been wiped out and although disgusted thats the case.
everyone has lost...BUT this is not the time to accept defeat, stop saying better things in life. I'm sure you would feel crap when your house gets burgled in front your eyes. This is our hard earned money and some morons have taken it from us "LEGALLY" by fooling us and they are the ones living the larger lives with yachts and cars and free house. Have some sense of urgency here. I say stand up and fight for justice with these crooks.
by closing off the only viable option you put us here and its not like mgt didn't tell us!!!! what were you thinking??? i hope you feel as smug as you now look stupid your greed and hate for the only people that were going to step in to save our company has destroyed every penny of our 11% residual value superb own goal well done
Of afren are utter scumbags , to put it mildly. Destroyed a company in well under a year.
Ive lost 20k, but there are more important things in life. I've learned a lesson the hard way here, and I certainly will not be buy shares in any other company again.
Feeling sick in the stomach. Few parties knew it all and tried to tell the shareholders in a friendly manner, did anyone listened, did they fook... Lessons learned the hard way are the most important ones. Step back, rethink, don't do anything stupid Sorry guys Know the enemy
I demand ASOG to reveal the information they had now as there is nothing to hide.
theiving scum.
Afr was a darling company and see how bad the management was, resulting in afr in deep sh it. Afr directors hardly have any stake in the company, hence they care less. Director should not take salary, instead take shares. JLP is good example where not only director took shares instead of salary, the shares was issued at huge premium of 5p (see RNS). director also bought more shares recently. See you guys at JLP, can multibag within weeks. Huge mining licence due next week. AMC went multibag previously and JLP could be following the trend. Cash rich as well (so no placing) and in JV discussion with large platinum major. If you looking for another oiler, RMP is a good bet. Drilling next week for next to producing basin in asia. gla
Sounds a bit weird that RNS, as though the Afren we have all invested in has gone in to administration, but afren in a different format is still going. I don't know much about things like this, but Is this possibly a way of just getting rid of the shareholders and carrying on without them?
Will all the bond holders be out of pocket too?
Exactly what they did with HIBU. FCA/SFO need to get their finger out to stop them robbing shareholders.
What a disgrace that the true scale of the operational and financial incompetence/negligence and possible fraud of a FTSE 250 company was only fully revealed at the death, having squandered shareholders investments on vast salaries and advisors costs over a long period - for what! It seems quite clear now that the BOD attempted to hoodwink BHs/funders and SHs into a Yes vote having yet again withheld crucial operational information. Even with a yes vote it would now seem from recent operational statements that it was only a matter of time before the house of cards came tumbling down. When do the authorities' start their investigation - how many ordinary hard-working employees/contractors etc will suffer - where on the FTSE do we all risk our savings in future - scandalous!! Unfortunately, the only white knights on the horizon appear to be riding in the opposite direction. Look forward to what the ASAG legal advisors suggest as the next steps as it would seem we are well down the pecking order in a fire sale and what chances of justice/funding justice for our day in court - negligible I would say unless the UK authorities grab hold of this first?
Makes me sick how they get away with it. I was a bit lucky and jumped into TPL after losing £35k here. 2 billion to zero.....in what a year odd. That sort of money dosent just disapear, a lot of full Nigerian pockets with Eniglish PI's money.
where are you and what is your thoughts. surely this is not the end here.
what a cracking company!
Not a public one obviously
that's the end here then sorry for anyone still holding dh
tis a goner
"No other company in the afren group has appointed administrators today or taken any other steps to commence insolvency proceedings". What does that mean which afren company survives?
Someone might come along and make an offer for the company? I hope so.