Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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no worries Boxer and thanks for you input. One possible outcome is a merger where we get shares in a new merged company ( with Seplat for example). but again our allocation may be small.
there you go… to afrenlegalaction yahoo com
I have only posted this once…..don't think that's against the rules. If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly to the afren legal action group….scroll down for the email through the BB…..or ask here..
to afrenlegalaction yahoo com
Based on the rules below it will be anytime up to end of August...I wont hold my breath!! I will be using my special Afren translation manual...I hope that they now have someone who can count because despite the fact they had a bunch of accountants on the Board Hayward, McLaren, Comyn etc...none of them spotted the 'worsening financial' situation until it was too late (1) An issuer must make public a half-yearly financial report covering the first six months of the financial year. (2) The half-yearly financial report must be made public as soon as possible, but no later than two months, after the end of the period to which the report relates. (3) An issuer must ensure that the half-yearly financial report remains available to the public for at least five years.
If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly
keep it up
some stup***d person reported ALL my today posts and they were deleted...we are too many
If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly
If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly
After all this chaos and mayhem, I would be surprise if anyone is feeling overly optimistic or building castle on air (such as SEPLAT bid etc..). We are on ventilator, and must consider ourselves lucky if we can get 3P / share. For me administration is most likely scenario.
I'd prefer to accept a offer where I've still a stake. 1-3p was, is no better than the average we've had these past months and where many, many holders here said they'd rather lose the lot than see the BH. win, which in a way they still would be doing only in a less desirable method. Alan Linn is as has been pointed out legally and duty bound to serve the requirements of the BH. above the SH. so yes I'd prefer a independant oil or non oil expert to oversee administration. I accept that we may not receive any return equating to a loss of 1.7p in the event of a fire sale or even an asset sale but like you point out the BH. would also suffer badly plus your point about the Nigerian authorities needs some clarification as its possible the BH. may also receive next to nothing. Thanks for the response.
I guys... I see lots of speculation about what might be and what might happen. Admin, Seplat, The General etc. Remember one thing, nobody knows anything. We need to avioid whipping ourselves into a frenzy that something good is round the corner. Im not being negative, just sensible. There may well be a solution being planned. But lets not count our chickens. We always said the NO vote (or no vote!) opens the door to opportunity. We are now at the threshold of that door. Lets see what happens.. Lets see if there are any opportunities rising. Afren is still too valuable a business to break up and throw to the vultures, with its huge assets and woking infrastructure. My cup is still half full not half empty. Keep up the pressure. Tony
Can the company be sold against the wishes of the shareholders ? +""absolutely not, this would have to go to a vote at a EGM'. . 1p2p3p. wouldn't entice me to aid and abet this. +That's understandable. we currently have no offer is its not an issue. what would you accept ? If a sale such as this can be blocked by shareholders I'd prefer administration ="That might follow a rejection of any offer'. at that point you are praying a non oil expert court appointed administrator can do a better job than Alan Linn at running Afren. and then pray POO goes up quickly. and hope we'd get the 1,2,3p that way and if the asset sale turned to a fire sale then at least it the bond holders who get seared the most. =' In a fire sale the BH have the first priority liens on all the assets, sadly they get paid first, and given that the assets hardly cover the debts owed on them, in a liquidation I think I could safely predict us shareholders would get zero. I would predict the BH would get about 25% to 35% of their money back in such a sale, assuming Nigerian law allows this, some speculate it would not. Hence, the Bonds were trading at 25% of their value.
The fall in revenue was due to lower realised oil prices and production liftings from Ebok utilised to settle a net profit interest (NPI) liability. NPI represents a contractual profit share payable to previous owners of the Ebok field for which liftings made in settlement are offset against cost of sales (NPI liftings commenced in Q4 2014). Does this mean that we are reporting less production in our figures?
don't hold your breath for any information from afren.
r we due some accounts?
If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly
be sold against the wishes of the shareholders ? I read postings earlier that suggested the bond holders would probably enbrace a offer now ! as a exit from this sorry saga say at 25c to the $ but it was also highlighted that the shareholders palms may have to be crossed also. I know all this speculation is hyperthetical but for this to happen and the BH. to escape this nightmare of their own making resulting in my original holdings dropping 99%. 1p2p3p. wouldn't entice me to aid and abet this. If a sale such as this can be blocked by shareholders I'd prefer administration and hope we'd get the 1,2,3p that way and if the asset sale turned to a fire sale then at least it the bond holders who get seared the most.
Are your paymasters becomiing concerned about how close things are getting to them? Tell them to get used to it, it's going to get a lot hotter for them before this is finished.
Same enviroment roughly the same bopd guess which one operates smoothly and which one doesn't.
I am sure there are forum rules against spamming.
I suppose many were simply hedging against a default. The way things are looking they are rubbing their hands and licking their lips right now. However, they are also trapped during the suspension. also, they could get stung if the company is bought by Seplat, Or it goes into administration and emerges from it with POO at a $1 a bbl Christmas week !!!!! all speculation and all improbable, but you never know
If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly
Shorted afren to death i hope and they hopefully get their comeuppance. ..